Working in Bank: where, who and what?

In Finland there are many different banks, largest are Osuuspankki(OP), Nordea, Aktia Pankki, Danske Bank and S-Pankki. Thousands of people are working in banks and their branch offices.

The bank duties include receiving deposits, granting different kind of loans, management of payment transactions, as well as monetary and foreign-exchange trade management. Banks offer to their clients asset management services, as well as a variety of investment, financial and advisory services to their clients. So working in banks is really varied and there are several tasks. Banks offer many services to their customers, this means that staff skills must be diverse and adaptable. Working in bank requires Degree in the field, which you can obtain by studying at a business college(Diploma in Business Administration), University of Applied Sciences) (BBA) or University (Economics). Working in the banking sector always requires professionalism, motivation, willingness to develop continuously and eagerness to learn and internalize things. You must also be knowledgeable while working in bank, because you must be able to answer the customers questions asked by the customer.


In the banking sector employees with good customer service skills, business skills and international skills to interact with different kind of cultures are needed. It´s also important to use new technology. Customer service is one of the most important assets on banking sector, where you should work with different clients and your colleagues. Financial sector is even more international as financial markets are global. Language skills are becoming important criterion for recruitment.

In banks there´s employees working in management-, specialist-, managerial and officer-positions. The work can be customer service in different areas, such as service and sales, corporate finance, private equity, currency and interest rate markets or investment and payment service. In addition to operate there are different kinds of back office tasks


And in the end I will tell you about few of jobs in a bank.


Customer service advisor:


Customer service advisors job is independent and finding out what services customer needs in bank. Also selling bank services to customers is include job of service advisor. Title may be example investment advisor etc.


Bank employee:


Bank employee does a customer service work at the bank counter. The work is the customer’s personal service, advice and instruction. Job description is expanding to highlight a variety of service options. In past few years cash handling in offices has decreased significantly.


Branch director and bank director:


A Branch director is responsible for the operations and the performance of a single bank branch independently and responsibly. A Bank director’s task is to manage the entire bank or one of the banking sector, such as for example marketing, accounting etc. lead in the bank’s head office.





Aarnikoivu, Henrietta 2005. Onnistu asiakaspalvelussa. Talentum Media Oy. E-kirja.

Niskanen, Jyrki & Niskanen, Mervi 2016. Yritysrahoitus. 7.-8. painos. Edita Publishing Oy, Helsinki


Ammattinetti. Konttorinjohtaja. Luettu 9.10.2016.

Ammattinetti. Pankkitoimihenkilö. Luettu 9.10.2016.

Ammattinetti. Palveluneuvoja. Luettu 9.10.2016.

TE-palvelut. Finanssiala. Luettu 9.10.2016.


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From spender to penny pincher – how?



It’s the end of month. Your wallet and stomach are both desperately craving for something nice to fill them as you suddenly remember that there were two empty bottles on the desk waiting for someone to recycle them.

After receiving a coin or two from bottle recycling, you head straight to the grocery store’s noodle shelf. You’ve done this so many times before that you could walk through the store eyes closed. After tossing the day’s lunch on the belt and giving the coins to the cashier, you leave the store and walk home stomach growling.

Repeat until it’s the 4th workday of the month again and receive your student benefit. Yippee!

But how to make the money last until the end of month? Luckily, most of us are able to actually save money with some effort as we are not living in a rural country struggling of mass poverty. We are privileged to have all the chances to live quite abundantly, if wanted. But there are reasons why some of us can’t see this. Some advice below!

  1. Marketing is the main reason why we believe we really need something which doesn’t really fulfill our basic human needs. When always out of pocket, it’s essential to think of expenses like this, freeing yourself from the pressure coming outside. The products seem more attractive if their advertisements or brands resonate with for example fast pleasure or positive image. Marketing is, in fact, exploiting human psychology.
  2. Hire purchase is something to think again. Do you really need that newest MacBook or flashy Vuitton handbag? It can actually seem like a really cheap deal, but makes your monthly expenses rise like a rocket.
  3. Don’t go shopping if you’re feeling down. Does getting new stuff really make you that happy? According to a 2012 Dutch study, unhappy consumers tend to spend more and save less as consumers feeling satisfied with their lives. If your consuming habits are getting out of hand, maybe you’re actually trying to forget something?



John Kenneth Galbraith 2001. The Nature of Mass Poverty. The United States.

Benjamin R. Barber 2007. Consumed. London. W.W. Norton & Company Ltd.

Terhi Majasalmi 2012. Totuus taloudestasi. Talentum Media Oy.

Taloussanomat 2015. Viisi mokaa, miksi säästäminen ei onnistu. Accessed on 13.10.2016.

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Is Money worth the Time?


Everyone has to weigh out their own use of time at some point.

I think that people who have the energy to work part-time during school years are very admirable. It’s hard to find good part-time jobs to earn additional income and even give you expertise in business skills. Many physical jobs are easier to get but their stress may affect your school performance.

You can find many web articles about how Bachelors of Business Administration describe their career after school. Statistics declare that over half BBA graduates started working in their present jobs before finishing their degrees (Hyvärinen, Katri). Most useful is to find jobs from your field of study. You can take this story about Anniina Varonen for example.

A recent study from Statistics Finland says that overall working during school has been on decline but there are differences in education sectors. Business students belong to the largest category of people who work during their studies in 2014. (SVT, 2016)


Many different sources point out that part-time working in your own field is one way to success but only few belittle the importance of school. Both ways of living have their benefits. Additional income may make your life more carefree and give you important experience. I think that testing all kinds of different things and lifestyles gives you understanding about what is the best way for you to live.




Katri Hyvärinen, Tradenomin ura on täynnä mahdollisuuksia,, (12.10.2016)

Suomen virallinen tilasto, 2016, Opiskelijoiden työssäkäynti,, (12.10.2016)

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Want to save money? Here comes 4 tips for saving!

Saving money is not always easy. It is not always comfortable either. Saving still may be necessary. It would be good, that you always have some extra money on your bank account because unexpected expenses could easily appear. Here are a few tips to improve your finances and at the same time, you can forget about the stress of economic worries.


1.      Try to save the amount of money which feels suitable for you to save, and save that amount every month.

It can be a few ten euros per month, for example. You can increase the amount when you feel like it. It’s better not be too ambitious in saving and investment. If the saving is started with too big amount of money, it definitely begins to feel tough. The good middle ground is worth remembering and enjoying life (Nordea, 2014).

2.      It’s easiest to start with a savings account

When you are used to saving money, you can plan new and more productive ways to save. Mutual funds are suitable to a regular saver. A Fund Investor can automate your savings, so that regularly, monthly for example, money is transferred from your account to the fund (Nordea, 2014).

3.      Make a long term plan

The decision to save money remains more strongly, if you have a clear goal. Think what you want to receive and set the goal according to that. Determine the investment period and recognise your own risk tolerance. It is also smart to diversify the investments (Nordea, 2014).

4.      Start now!

You should start saving immediately and not fret after a few years, why I did not start on time. The earlier you start, the faster you reach your goal.  Since the development of the investment markets can not be forecasted, it’s not worth to delay the start of investing by waiting for the cheapest time to buy shares (Nordea, 2014).

Saving even a small amount can help you save to large issues such as a house or a car. Savings, small or large, will also help in emergency situations. You do not need to resort to borrow money if you have money savings for unexpected circumstances. The starting is the hardest part.


TalousSuomi, Säästäminen.

Nordea, Säästöt, 2014.

Lainaguru, Miten aloittaa säästäminen.



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How students could control financial problems?

When your status says that you are a student, it usually means that you don’t have so much money to spend. You have just enough money to pay the rent every month and buy the necessary groceries. Nothing more, nothing less. How ever, there are always things that you can develop in order you can improve your financial situation.

First of all, many experts suggest that students should take out the student loan. In that way, you can focus on your studies and you don’t have to stress so much about money issues. By taking the loan, your life can be a little bit more stress free and the money problems don’t disturb your everyday life. For instance, if you face unexpected expenses, you have some extra money which you are able to consume. The student loan interest is also low and and the repayment period is flexible. Every student is also entitled to student loan refund which the government will pay. The refund is 40 percent in the cases where the amount of loan is over 2500 euros. Of course, there is a condition that student graduates in time. Sounds quite a great deal to me, right?


In addition, little good deeds which you can do to help your financial situation is to pay attention for example to your consumption habits.  We know that food is really expensive in Finland and the manner in which you are accustomed to do your groceries make a big deal. A great tip is to also plan in advance what are you going to buy and don’t make any impulse buys. Cheap brands are often as good as the expensive ones and really good and healthy ingredients are surprisingly cheap. You should also make large amount of food at once so you don’t have to go to grocery stores so often. Little things matters, as they say.

Many students also have part time jobs besides school and that is a reasonable thing to do. It is great that you can earn a little money and that brings stability to your economic situation. After all, it is good to remember that student years are just a little period of time and you have time to earn money later when you are graduated and in the business life. So, try not to stress too much about money and enjoy life to the fullest.


Taloussuomi. Opintolaina- säädökset selkokielellä.

Bankrate. How to save money: 8 ways to save money on a budget

Kilroy. Säästövinkit opiskelijalle.

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News about payment defaults in Finland

nayttokuva-2016-12-06-kello-22-14-43The number of payment default entries hits an all-time high in Finland. The payment default register of Asiakastieto have 374 200 people already in end of September, which is approximately 5000 people more than a year ago. Also many people, who haven’t had credit default, find themselves in the register. (Maksuhäiriöisten määrä kasvaa ennätystasolla – ”monet hakevat jatkuvasti uutta luottoa”. 2016.)

People in the age of 25-34 have the highest number of payment defaults, 14% of these consumers have a payment default entry. In this age group over 16% of the men had a payment default entry for unpaid bill, when under 11% of the same age group of women had payment default entry. (Pietarinen 2016. Tälläinen on maksuhäiriöinen suomalainen.)

According to Chief business officer of Asiakastieto, Jouni Muhonen, payment default entries come constantly because of new credits or creditlike accession, such as telephone subscription and other online purchases (Maksuhäiriöisten määrä kasvaa ennätystasolla – ”monet hakevat jatkuvasti uutta luottoa”. 2016). Bills are commonly in electronic forms these days, so I don’t wonder why some of the bills are left behind.

Composition applications were left 4200, couple per cent more than last year, which indicates that many people have willing to get their things organized again. According to Asiakastieto, debtor will more likely pay the debt, when someone offers the opportunity to change the payment programme on the internet. (Vuodessa 1,5 miljoonaa uutta maksuhäiriömerkintää – ”velkojilta pitää löytyä myötämieltä”. 2016.)

Life can still continue regardless of the payment default entry; it won’t be easy. Remember, if you are in danger to get payment default entry, with all your strength try to arrange things so that the entry won’t be made. Also keep in mind that tangled things will never be solved by new instant credit. (Lainat ja vipit. 2015.)



Kaislaniemi, Mari 2015. Vuoden iskulause näyttää tietä. Markkinointi & Mainonta. Päivitetty 22.1.2015. isklause+nayttaa+tieta/a2288671. Luettu 24.8.2015.

Lainat ja vipit. Taloussuomi 2015. Julkaistu 30.12.2015.äiriömerkintä. Luettu 7.10.2016

Maksuhäiriöisten määrä kasvaa ennätystasolla – ”monet hakevat jatkuvasti uutta luottoa”. Taloussanomat 2016. Julkaistu 3.10.2016. Luettu 7.10.2016

Pietarinen, Harri 2016. Tälläinen on maksuhäiriöinen suomalainen. Taloussanomat 2016. Julkaistu 7.1.2016. Luettu 7.10.2016.

Vuodessa 1,5 miljoonaa uutta maksuhäiriömerkintää – ”Velkojilta pitää löytyä myötämieltä”. Taloussanomat 2016. Julkaistu 7.1.2016.  J Luettu 7.10.2016.

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Dreams to reality – financing your startup

No matter what kind of a business idea you have you will need startup capital to get your business running. When you’re thinking about ways to finance your business, the first thing you have to realize is what you need the money for. Do you need some electronic equipment, office supplies and manufacturing machinery? Or perhaps what are the amounts of legal fees, permits or operating costs. Even if you might sell some kind of cost free service, you would probably want to spend some money on advertising. All these things need money for them to become reality.

You need to also think about how separate your personal life is from your business, for example do you use your own phone or house at running your company. Separating your business assets and liabilities from your personal ones might be costly, but could help you in long run as it would probably be easier for you to keep the business stuff out of your personal life.

The staff of the entrepreneur media Inc. stress in their book Write Your Business Plan, the importance of planning your way into success. So go through carefully all the things that will cost you money when you’re taking the steps to build your business. Analyze all the things you come up with and write down a plan, so you save yourself any unpleasant surprises. After these analyses you should have an accurate idea of how much money you need and it is time to think about where you will get your capital. (The Staff of Entrepreneur Media, Inc. 2015.)


5 ways to finance

One thing I recommend is that you have at least six months’ rent and personal living expenses saved for yourself. Building a business won’t happen overnight, so it is good for you to have some backup money to support yourself. If you have anything left over your personal backup, those personal savings are a good source of capital. (Small Business BC, 2016.) Using your own money means you won’t have anyone else trying to get the profit that you make, or come knocking on your door for their money if you fail. Of course this is only in the case that you have enough money saved, which usually is unlikely.

One way to get capital is bank loans. As our economy is not hitting its best run, bank loans might not be as easy to get as before. This means if you choose to take some business loan, be prepared to inform the banks accurate numbers on how much you need and why. Banks are great source of money, especially, if you need to make bigger investments. If a bank sees you as a person who will be able to pay the money back with interest, you should be ready to go. (Investopedia, 2016.)

You can also consider seeking the money from financial institutions as a form of commercial loan. There are many financial institutions that offer support for starting businesses in a form of capital and knowledge. These type of loans are generally a short-term loans. (Investopedia, 2016.)   Read more from:

You can also use a credit card for your startup costs, if you can qualify for one. Credit cards as a way to finance might get you in big trouble, if you’re careless with it. If you don´t have a limit or a low interest rate, you might have to deal with big future expenses. Don’t go spending money on a credit card that has a 20% interest rate, because it will take away much needed capital from your company. If you choose to use a credit card, be sure that you make wise decisions with it, and that you have the money to pay all your expenses.

Family and friends is for many people a really needed way of support, when it comes to keeping your motivation high as you go along your entrepreneurship path. For some they might be a source of capital, as often people get financial help from their relatives or friends. This is great as usually for example your mom doesn’t want any kind of interest for the investment. Still, risking your personal relationships, is something to think about. Many relationships get strained because of money and nobody wants that.

And remember…

Other than the things listed above, there are lots of ways to finance your idea. Many of you might have seen a TV show Shark Tank where five rich investors invest in ideas presented by ordinary everyday people. Maybe these kind of investors could invest in your idea in an exchange for an equity.

Also one big thing at the moment is crowdfunding, where you gather money via internet2228832-2203520_kickstarter_badge_funded for your idea. Many people post videos of their inventions or starting businesses to a website like Kickstarter. People view the ideas, and if they are interested, they can support you by buying the thing that you are selling in advance. This way you can gather the much needed capital.

One thing to also remember is, that in Finland you can apply for a startup money as an entrepreneur. In the year 2016 the amount is 32,68e/day. This of course isn’t enough for the business itself, but it is something that helps you get through your personal expenses, so keep this in mind. (Summarum+, 2016.)

So before you take the first real step and invest money on your business, do your research. Don’t just take my word for it, but really study and plan. That is the key to success. And if you get setpacks, that is almost certain to happen at some level, you already have a good knowledge on how to cope with them. After you have made the first big investments, concentrate 100% and don’t let anything hold you back. As Fred Kiesner states in his book Creating Entrepreneurs “passion might not be enough, but without it, entrepreneurship just wouldn’t be all that worth-while. Ultimately, successful entrepreneurship is rewarding”. (Kiesner, 2010.) So be ready, be prepared, and at the end, it will all be worth your time.




Investopedia. 2016. Problem Loan Definition – Investopedia. Available at: Accessed 10 October 2016

Kiesner, F. 2010. Creating Entrepreneurs: Making Miracles Happen. World Scientific Publishing Company. 2010. p.529.

Small Business BC. 2016. How to Finance Your Start-up Business – Small Business BC. Available at: Accessed 10 October 2016

Summarum+. 2016. Uuden yrityksen rahoitus. Available at: Accessed 10 October 2016

The Staff of Entrepreneur Media, Inc. 2015. Write Your Business Plan: Get Your Plan in Place and Your Business of the ground. Entrepreneur Press, 2015.

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Samsung Note 7, we hardly knew you

After less than 2 months on the market, where the Samsung Note was plagued by repeated reports of it catching on fire and/ or exploding, Samsung, the world’s most popular phone manufacturer, has given up and has sealed all Note 7 manufacturing sales permanently.

The Note 7 hit the market on August 19 and almost immediately there were scattered reports from around the world of the phone overheating and catching on fire (usually while charging). Despite the reports, Samsung would not admit that there was a problem; they just offered voluntary exchanges and returns and refused to do a recall, until forced to by the U.S. safety commission.

They recalled an estimated 2.5 million phones and after examining them, they started manufacturing replacements (that still ended up catching on fire over time), which finally led to Samsung releasing the official statement:

“For the benefit of consumer’s safety, we have stopped sales and exchanges of the Galaxy note 7 and have consequently decided to stop production.”


Stock Analysts have begun to tally up Samsung’s financial hit.

Analysts estimated that the potential losses to Samsung could reach 9.5 billion (10 trillion won) for the last three months of the year, which would be more than enough to wipe out the entire mobile division’s operating profits for the fourth quarter.

That being on top of the 18 billion in value loss that happened over night once the recall started to happen.


Furthermore, this does not only affect Samsung as a company, but South Korea as a whole.

According to South Korea’s trade ministry, Samsung’s smartphones account for about 2% of the country’s annual total exports.

South Korea’s finance minister Yoo Il-ho said in a weakly policy meeting in Seoul that the government closely monitored Samsung’s recall to no avail. Mr. Yoo said that the halt in sales will negatively impact the country’s export figures, according to his assistant.

Overall, this became one of the biggest and most public failures of a major electronics company in the recent history.



Wired magazine (October issue 2016. s. 25)

PC magazine (September issue 2016. s. 40)

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Bookkeeper – a versatile job for you?


I have always been dreaming about working as a bookkeeper. It has been my dream since I started studying in upper secondary school. Today I am studying accounting and finance as my main subject in Metropolia University of Applied Sciences. I wanted to write this blogpost about working as a bookkeeper, because it is an important and a very versatile job.

Accountancy is divided into two parts, financial accounting and management accounting. Bookkeeping belongs to financial accounting, where they produce information to external stakeholders (Tomperi 2016, 10). The main purpose of bookkeeping is to find out the profit/loss for the year of a business. The information about company performance is important especially for the owners, so that they know if their company is profitable.(Tomperi 2016, 11). A bookkeeper is responsible for processing the paperwork for a company’s business transactions, ie. the company’s accounts, billing and ledger. One of the most important jobs to do as a bookkeeper is to follow and forecast a company’s profitability. The bookkeeper can also take part in preparation of the budget.

When the bookkeeping is done, the next step is to prepare the financial statement for the financial period. It gives the company’s result and financial situation. The financial statement includes the income statement and statement of financial position. The statement of financial position is divided into assets and liabilities. (Leppiniemi & Kaisanlahti 2016, 38).

Working as a bookkeeper requires among other things precision, diligence, cooperation and customer service skills, confidentiality and enthusiasm. The work also requires ability to work flexibly and under pressure. The work is mostly sedentary work on the computer, so you have to be prepared for that, because it may strain your shoulders and back. However in my opinion a very positive thing in this work is that the working hours are usually normal office hours. A bookkeeper is usually employed by a bookkeeping office or a small to mid-size company. Working as a bookkeeper you need an education in for example master of business administration.

When you want new challenges in your job, you can do something called KLT-degree and become a KLT-accountant. KLT is a valued sign of a professional skill (Lehtonen 2016, 60). If you want to be a KLT-accountant, you have to have adequate commercial education and several years of experience of bookkeeping. To get your KLT-degree, you have to pass an exam, which is organized once a year. The KLT-accountants usually have better salaries than bookkeepers.

When you work as a bookkeeper you learn without interruption a lot of the business, and you also constantly know what is going on in the business. It helps you in your job and it also helps you to predict the future. A good thing for you to know is that many small companies have externalized their bookkeeping for the bookkeeping office to deal with, and the number of companies externalizing their bookkeeping is gradually increasing.

The employment of bookkeepers and other accounting and finance professionals are currently great. This means that if working as a bookkeeper interests you and if you want to be employed, get a job as professional in accounting and finance. You will always get new challenges and rich experiences within the financial sector.



 (Lehtonen, Tuomas 2016. Nappisuoritus toi KLT-tutkinnon. Tilisanomat, 4/2016, 60)

(Leppiniemi, Jarmo & Kaisanlahti, Timo 2016. Tilinpäättäjän käsikirja. Helsinki: Talentum Media Oy)

(Tomperi, Soile 2016. Käytännön kirjanpito. Keuruu: Otavan Kirjapaino Oy),d.bGg&psig=AFQjCNF6HV7Lq7oXV1I-LEkUuyYgKCWo1w&ust=1475419173762114


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Elderly care deteriorate or does it

kuva1There has been a lot of discussion about the government lowering the number of nurses in elderly care in the next year’s budget. That means, many nurses are going to lose their jobs and seniors who really need proper care are not going to get it. The nurses who are now working among the seniors are saying that even now there are not enough nurses per an old person. Now there is approximately 0,5 nurse per every senior working in the nursing home and after the government’s change, there will be only 0,4 nurse per a senior. That means there would be four nurses taking care of ten seniors during the whole day, so at the time only one nurse is taking care of ten seniors.

On 7th of October in 2016, was organized a protest event in which the nurses and other people gathered in the Center of Helsinki. Räsänen, a nurse working at the nursing home in Helsinki, also attended to promote the nurse’s benefit. According to Räsänen, the amount of work has also increased. For instance, there might be also cleaning included in their work along with caring work. This is too much for one person to handle and it decreases the quality of care. There are seniors who are in good condition, but some of the old people cannot manage oneself. It is also the society’s matter to look after the seniors who need the care.

My opinion is that the government is not thinking clearly when making decisions like this. They should also consider the citizen’s opinion. Citizens really care about matters like health, employment status and economic situation. And this matter is related to all of them. In the protest there were good points that came up. “The cabinet members are getting old too at some point”. If the government is going to deteriorate the amount of care, it’s going to revenge itself.

That is why people pay the taxes, because that way they can secure their future when retiring and getting old. It’s their right to get a good care. Elderly caring is not only tasks to do, there is also the social aspect in it. Old people need intercourse as well, that they don’t feel lonely. When the old people, who now need care help, were on working life they paid the taxes as good citizens do. The government should invest the tax money in health care and well-being of the citizens, because Finland is a welfare state. All the seniors have already paid for their health care in the past, so shouldn’t they now get a proper care.

The government is trying to save in the budget by lowering the elderly care employers, but are they really saving any money. This matter would make the unemployment rates rise, which means less taxes will be paid to government. There are many people who educate themselves as practical nurses and if the government’s statement goes through, there are less workplaces available in that area. Are they really saving any money. I hope that the government makes the right decision eventually and starts to improve the elderly care instead of deteriorating it. Let’s make Finland a good place to live and to grow old also in the future.


Hoitajat osoittavat mieltä Helsingin keskustassa. Vesa, Mikko. 6.10.2016. IS.


Vanhustenhuollosta mieltään osoittaneet hoitajat: ”Tilanne on jo nyt järkyttävä”. Särkkä, Heini. 7.10.2016. IS. 


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