Functions of key areas in finance

• Why are key operational areas specialized in finance organizations?


  To cater to the unique functions and client needs of different finance organizations.
• What are banks?


  Diverse institutions that provide a wide range of financial services to meet various client needs.
• What is notable about the operational areas within banks?

  The key operational areas within banks are vast and serve multiple functions to support their financial services.
• What everyday banking services does the Retail Banking Division provide?

  Deposits, withdrawals, and payment processing.
• What types of accounts and loans does the Retail Banking Division manage?

  Savings and current accounts, personal loans, mortgages, credit cards, and provides financial advice.
• What specialized financial activities does the Wholesale Banking Division engage in?

  Underwriting, mergers and acquisitions, and structured finance.
• What investment-related services are provided by the Wholesale Banking Division?

  Investment banking
• What types of lending does the Wholesale Banking Division provide?

  Large-scale lending.
• Who does the Wholesale Banking Division provide services to?

  Large corporations, other banks, and financial institutions.
• What types of transactions does International Banking facilitate?

  Global financial transactions, foreign exchange, and international trade financing.
• Who does International Banking support?

  Multinational clients with cross-border banking services.
• What types of accounts does International Banking provide?

  Foreign currency accounts
• What types of loans are offered by International Banking?

  International loans.
• What additional services does International Banking offer?

  Investment services.
• What key services does Wealth Management offer to high-net-worth individuals?

  Financial planning, investment management, and advisory services.
• What types of planning does Wealth Management Services manage?

  Assets management, retirement planning, and tax & estate planning.
• What range of investment products does Wealth Management Services offer?

  Stocks, bonds, mutual funds, and alternative investments.
• What is the primary function of Share Dealing Services?

  To facilitate the buying and selling of shares on behalf of clients
• What type of platforms does Share Dealing Services provide for retail customers?

  Investment platforms to trade stocks, bonds, and other securities.
• What additional support does Share Dealing Services offer to clients?

  Research, advice, and tools for making informed investment decisions.
• What type of banking services does the Small Business Division offer?

  Banking services tailored to small and medium-sized enterprises (SMEs).
• What types of loans does the Small Business Division provide?

  Business loans and lines of credit
• What additional services does the Small Business Division offer?

  Merchant services and business accounts.
• How does the Small Business Division support business growth?

  Through financial advice, cash flow management, and payroll services.
• What does Life Assurance provide?

  A sum of money upon the policyholder’s death or after a set period.
• What key operations are managed under Life Assurance?

  Premium collections, policy underwriting, and claim payouts
• What types of financial protection and savings products does Life Assurance offer?


  Whole life, term life, and endowment policies.
• What is the primary role of underwriting in insurance?

  To evaluate risks and determine the terms and pricing of insurance policies.
• How does underwriting assess the probability of claims?

  By setting premiums accordingly.
• What is the relationship between underwriting and actuaries?

  Underwriters work with actuaries to ensure the financial viability of policies.
• What do actuaries analyze to calculate insurance risks?

  Statistical data.
• What models do actuaries develop to ensure financial stability?

  Pricing models and reserves.
• What critical roles do actuaries play in an insurance company?

  In financial planning, forecasting, and decision-making.
• What do insurance companies specialise in?

  Managing risk by providing various insurance products and services
• What are the key operational areas in insurance companies?

  • Life assurance
  • Underwriting
  • Actuaries
  • General insurance
  • Claims
  • Pensions
• What happens when a policyholder of a life insurance policy passes away?

  The policy pays out a sum of money to the designated beneficiaries.
• How do life assurance companies manage their financial transactions?

  By handling premium collections, policy underwriting, and claim payouts.
• What are the two primary aspects of life assurance policies?

  Financial protection and savings products.
• What is a term life policy?


  A life insurance policy that provides coverage for a specific period.
• What is a whole life policy?

  A life insurance policy that provides coverage for the entire lifetime of the insured.