Anyone who gets to visit the Paternoster Square development themselves will probably come away with the idea that nobody could work in the financial industry without doing so in person. The London Stock Exchange has a total market valuation in the trillions of pounds, and therefore it attracts a huge number of people who are all seeking to make their fortune. Changing market conditions and the impact of digital technology has ensured that the market for remote finance workers is growing at an unprecedented rate.
According to one report from the Office for National Statistics, more than one in ten people in the United Kingdom own some form of security and the number is probably going to go up dramatically in the coming years. As market capitalisation grows, it’s highly likely that the number of people needed to process transactions will grow as well.
Ever since 2016, the number of people working at in-person banking jobs in the greater London area have fallen considerably. Some estimates claim that they peaked in 2015 at 108,000 before falling to a low of 23,000. Commentators and pundits have been out in full force claiming that this is part of a permanent downturn in banking that isn’t going to ever reverse itself unless there are major changes in the socio-political structure of London’s financial markets.
This ignores the fact that individual retail consumers still need banking services, and the dramatic drop in the number of people providing these services have left such consumers looking for assistance. Digital challenger banks are starting to claim an increasingly substantial percentage of the remaining market, and these exist almost entirely online. Those who want to start a career in online banking may want to look at careers offered by these businesses, especially if they have any previous experience in a technical field.
Entrepreneurs who want to learn how to start a bookkeeping business are likely to be told that they need to work for another business before they can make it out on their own. Those who do have some experience as a chartered accountant will probably have a relatively easy time finding a job remotely, considering that a number of online businesses are increasingly finding themselves short of workers. Individuals who do feel that they would do best running their own business couldn’t have asked for more reasonable business conditions than the present, however.
The overall demand for business tax accountants has created a number of opportunities for those who want to start a business. The only real barrier to entry is getting all of the right certifications and dealing with the appropriate authorities in order to provide such services to businesses over a wide physical area. Interested parties may want to seek out an authority who can assist them with this part of the process.
Regardless of how big or small the private business sector is, there’s always going to be at least some demand for loans. In turn, that means there’s a demand for specialists who can manage tasks like net operating income calculation and amortisation. Adoption of artificial intelligence systems has quickly revolutionised the loan industry by giving officials the ability to figure out whether or not specific applications constitute a risk. Technologists and those with degrees in maths are among those most capable of furthering their career in the financial sector.
Even those with more traditional financial career paths can find remote work opportunities in this field as well. Various types of loans are quickly becoming diversified, which is creating a need for people who understand the often labyrinthine structure of the industry. Joint loans, for instance, are a type of personal credit agreement that are designed for individuals who wouldn’t have the financial resources to qualify for a more traditional loan.
Former financial officers who are looking to work exclusively from home and have solid people skills may want to consider acting as officials who help first-time borrowers get the money they need. Others may want to specailise in commercial property mortgages or one of several other types of lesser-known lending products. Though it’s hard to say that any job is ever going to be truly secure against every single potential malady, it’s quite possible that individuals who get into this field now may be able to work in it for years to come without ever having to set foot in a physical office.
