actuarial science
The rules of applying mathematical and statistical techniques to determine potential or existing risks in various industries, such as finance or insurance.
Financial brokers undertake financial market activities on behalf of their clients. They monitor securities, financial documentation of their clients, market trends and conditions and other legal requirements. They plan buying and selling activities and calculate transactions costs.
Competences and skills
30 ESCO relationsEssential knowledge 5 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
1 competenceCross-sector
4 competenceseconomics
Economic principles and practices, financial and commodity markets, banking and the analysis of financial data.
financial jurisdiction
Financial rules and procedures applicable to a certain location, whose regulatory bodies decide on its jurisdiction
financial products
The different types of instruments that apply to the management of cash flow that are available on the market, such as shares, bonds, options or funds.
securities
The financial instruments traded in financial markets representing both the right of property over the owner and at the same time, the obligation of payment over the issuer. The aim of securities which is raising capital and hedging risk in financial markets.
Essential skills and competences 11 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
0 competencesNo competences in this bucket.
Cross-sector
11 competencesadvise on financial matters
Consult, advise, and propose solutions with regards to financial management such as acquiring new assets, incurring in investments, and tax efficiency methods.
analyse market financial trends
Monitor and forecast the tendencies of a financial market to move in a particular direction over time.
apply technical communication skills
Explain technical details to non-technical customers, stakeholders, or any other interested parties in a clear and concise manner.
create a financial plan
Develop a financial plan according to financial and client regulations, including an investor profile, financial advice, and negotiation and transaction plans.
maintain financial records
Keep track of and finalise all formal documents representing the financial transactions of a business or project.
manage financial risk
Predict and manage financial risks, and identify procedures to avoid or minimise their impact.
obtain financial information
Gather information on securities, market conditions, governmental regulations and the financial situation, goals and needs of clients or companies.
protect client interests
Protect the interests and needs of a client by taking necessary actions, and researching all possibilities, to ensure that the client obtains their favoured outcome.
provide financial product information
Give the customer or client information about financial products, the financial market, insurances, loans or other types of financial data.
synthesise financial information
Collect, revise and put together financial information coming from different sources or departments in order to create a document with unified financial accounts or plans.
trade securities
Buy or sell tradable financial products such as equity and debt securities on your own account or on behalf of a private customer, corporate customer or credit institution.
Optional knowledge 2 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
0 competencesNo competences in this bucket.
Cross-sector
2 competencesbanking activities
The broad and continuously growing banking activities and financial products managed by banks ranging from personal banking, corporate banking, investment banking, private banking, up to insurance, foreign exchange trading, commodity trading, trading in equities, futures and options trading.
modern portfolio theory
The theory of finance that attempts to either maximise the profit of an investment equivalent to the risk taken or to reduce the risk for the expected profit of an investment by judiciously choosing the right combination of financial products.
Optional skills and competences 12 competences
Occupation specific
0 competencesNo competences in this bucket.
Sector-specific
0 competencesNo competences in this bucket.
Cross-sector
12 competencescommunicate with banking professionals
Communicate with professionals in the field of banking in order to obtain information on a specific financial case or project for personal or business purposes, or on behalf of a client.
communicate with customers
Respond to and communicate with customers in the most efficient and appropriate manner to enable them to access the desired products or services, or any other help they may require.
conduct financial audits
Evaluate and monitor the financial health, the operations and financial movements expressed in the financial statements of the company. Revise the financial records to ensure stewardship and governability.
handle financial disputes
Handle disputes between individuals or organisations, either public or corporate, which deal with financial matters, accounts, and taxation.
handle financial transactions
Administer currencies, financial exchange activities, deposits as well as company and voucher payments. Prepare and manage guest accounts and take payments by cash, credit card and debit card.
maintain records of financial transactions
Collate all the financial transactions done in the daily operations of a business and record them in their respective accounts.
operate financial instruments
Work with financial instruments such as stocks, bonds, mutual funds and derivatives.
optimise financial performance
Direct and coordinate the organisation's financial operations and budget activities, in order to optimise financial performance.
provide cost benefit analysis reports
Prepare, compile and communicate reports with broken down cost analysis on the proposal and budget plans of the company. Analyse the financial or social costs and benefits of a project or investment in advance over a given period of time.
provide support in financial calculation
Provide colleagues, clients or other parties with financial support for complex files or calculations.
review investment portfolios
Meet with clients to review or update an investment portfolio and provide financial advice on investments.
trace financial transactions
Observe, track and analyse financial transactions made in companies or in banks. Determine the validity of the transaction and check for suspicious or high-risk transactions in order to avoid mismanagement.