UK personal finance services

Show a good understanding of how the business works as a whole Abbey PLC main activity Abbey PLC is a nationwide bank that provides finance accounts and services to the public and its customers. It is the biggest leading bank that only focus's on UK personal finance services. The main activity of Abbey is to give and receive money to its customers, in regards to bank accounts, personal loans, mortgages and long term investments including life insurance pensions, general insurance and savings. The main functional areas in abbey are human resources marketing, finance, and manufacturing department.

The main branches in London are located at 406 strand, London wc2 rorne,l34Piccadilly, London w1j odn, 165 oxford street w1p 2jp, 306 high Holborn, London w1cv 7jz, 14a Hanover square London w1s1jl. Abbey is more than just one of the UKs leading personal financial services organisations it is also part of Group Santander, the world's ninth largest bank, serving 63 million customers in 40 countries. There are several ways customers can access Abbeys services such as via the internet, branch and telephone. Abbey encourages people to join there bank by advertising the low rate loans and high rate interests.

PICTURES OF LOAN RATES AND OPENING HOURS

The type of jobs abbey offer are branch manager, client relationship manager, customer service advisor, mortgage advisor, telephone customer advisor, personal banking advisor, service and control manager, sales manager, cashier, and personal advisors. Q2 (P2) What type of work is done in the four functional areas, how is this work carried out? Functional areas:  The four functional areas are:  Human resources department  Finance department  Marketing department  Manufacturing/operations. Human resources department. The human resources department understands the business as well as people.

The department recruits and selects new staff with the skills and experiences that match the job description, provides employees with advice and information, provides terms and condition to new employees, manages changes in working arragements the organisation structure etc, develops and promotions and transfers, develops and promotion and transfers, develops and handles grievance produces and complaints by staff handles employees discipline and dismissal.

Deals with redundancy pay, administrating pay conditions of service, such as holiday entitlements and maternity pay deals withy the equal opportunities and health and safety policy, takes part in negations with trade unions and employee representatives on pay conditions, looks after staffs welfare, which can include (particularly in larger organisations) employing a staff nurse, supervising canteen and sports facilities ensure health and safety guidelines at work are followed, keep staff records.

Finance Department The finance department deals with employees wages besides whether the business will need to borrow or lend money watches over the cash flow. The finance team also works out the budget for over departments and makes sure the business pays its taxes and has enough money to operate the business so that the bank can provide customers with personal loans, and long term investments including life insurance, pensions, general insurance and savings, manages the companies stock, and buys equipment such as CCTV cameras, computers, tables and chairs, tills, leaflet holders, telephones depending on the budget of the bank.