The current global financial system has potentially revolutionised the traditional way of banking. Now, trading continues day and night, instruments like derivatives have made speculations highly profitable and technology has overtaken manual transacting. Parallelly, this has lead to a boom in opportunities for those wanting to pursue a career in Banking across different subfields as well as allied fields. This includes Finance, Commercial and Investment Banking, Insurance, Auditing, Accounting, Wealth Management, amongst others. For individuals looking to enter this lucrative field, Banking courses serve a gateway to work in top-level management roles and beyond.
Courses & Certifications
Before discussing the career avenues, it is important to throw some light on the various routes available. Major companies in this sector desire a combination of a banking or finance-oriented degree as well as progress towards a professional qualification such as the CFA course. While here we mention the certifications/qualifications you should consider, you can refer to our blog on the list of banking courses to know more about the programs offered (BCom, PGDM etc) in comprehensive detail.
|Chartered Financial Analyst [CFA Course]||Financial Risk Management [FRM]|
|Certified Financial Planner [CPA||Certified Public Accountant [CPA]|
|Chartered Institute of Management Accounting [CIMA]||International Financial Reporting Standards [IFRS]|
|Chartered Accountant [CA Course]||Association of Chartered Certified Accountants [ACCA]|
|Company Secretary [CS]||Certified Management Accountant [CMA]|
Note: This is not an exhaustive list and there are many more certifications/qualifications available.
Scope of Banking Courses: Career Options
As discussed, graduates from banking courses have the option to work across a variety of sectors and industries. Owing to flexible entry requirements in such courses, individuals belonging to Physical Sciences background are also venturing into it. Glance over the following list to have a brief overview of the career opportunities.
Financial Accountant/Teller[optin-monster-shortcode id=”xf2mlnjiouddzrshykdb”]
The job of a Financial Accountant includes creation and management of financial statements, overseeing adherence to financial standards, debt-equity ratios and much more. Furthermore, senior accountants help the management in taking decisions of setting up and alteration of financial goals and metrics and measure the company’s historical performance as well. A degree in Business with a focus on Accounting is a major requirement. Moreover, you can also pursue Banking courses or opt for the CA qualification to apply for this profile.
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Inclined towards financial analysis and investment, a Financial Analyst or associate leads the firm’s investment decisions according to set goals and objectives. The term ’financial analyst’ has a broader connotation and includes jobs such as an Investment Analyst, Investment Banker albeit with subtle differences in tasks and responsibilities. An undergraduate/postgraduate degree in Finance or any of the Banking courses along with movement towards CFA or FRM qualification is desired.
Investment in securities drastically change according to the objectives of client, i.e, retirement, marriage or education, etc. Consequently, the portfolio or fund managers, depending on the objectives, select specific combinations of stocks and securities, for instance, debt-oriented, equity-oriented, liquid, tax-saving schemes and much more. Both the roles of Portfolio Manager and Fund Manager are considered highly specialized positions and consequently requires one to have completed advanced-level Banking courses or finance-intensive qualifications.
Also Read: Equity Research Analyst
Financial statements of a company need to be assessed and verified by competent individuals in order to ensure that end-users such as creditors, current and potential investors and other individuals concerning the company. Further, auditors are appointed by both regulatory authorities and by the companies themselves. In order to opt for this profile, one needs to have attained a master’s degree in Finance or any of the postgraduate Banking courses.
Tasks of budgeting involve creation of proper period-based planning to optimally utilise allocated funds of a company. Largely, banking analysts work on determining which spending plans are in line with company objectives, how to minimise waste of resources and forecasting as well. Banking courses at master’s level can equip you with the knowledge of handling optimisation of financial resources and facilitating careful planning for funds in financial organisations.
Also Read: How to Become a Bank Manager
Dissemination of loans is a revenue-generating arm of any banking institution. Consequently, analysis and vetting of loan applications and matching it with the company’s regulations is important which is overseen by the loan officer. Individuals may look toward finance-oriented Banking courses to start a career as a loan officer.
Thus, Banking courses offer innumerable opportunities not only in the core Financial and Banking sector but in allied sectors of Asset Management, Real Estate and Forex, amongst others. Consult the experts at Leverage Edu for quality career guidance in choosing the right specialisation in Finance and Banking and we will ensure that you make an informed decision towards a rewarding career.