The banking and finance industry has transformed into a virtual spine of the 21st-century global society and a growing number of people are starting to see and feel the power that finance has to influence our lives. Hence there is a growing demand for professionals who understand the challenges of the industry. Bachelors in Banking and Insurance or the BBI course is what prepares and equips these professionals to solve our banking problems and worries. Here is all the information that you will need to pursue a BBI course.
BBI Course: Eligibility
If you are someone who is planning to pursue a BBI course, you should have completed your 12th standard. If you have maintained high scores consistently throughout your 11th and 12th standard, make sure to make it a part of your application. SAT scores are mandatory for your application process if you choose to apply for universities in the USA. Also, extracurricular activities go a long way in strengthening your profile.
BBI Course: Key Components
There are certain core subjects and components that are fundamental to the understanding of BBI, here is a brief analysis of the key components of this course:
- Principles of Management
This subject deals with management principles that help an organisation to run smoothly. Some of them are planning, organising, directing, cooperation, etc. It is one of the most important subjects of the programme and professors stress a lot at its mastery.
The insurance industry has become a wheel of the finance world. It has certain fundamental concepts that need to be learned and exacted by all future professionals. Here principles of indemnity, utmost good faith, insurable interest, double insurance, proximate cause, and subrogation are taught along with the history of industry laws and other essential topics.
- Customer Relationship
Customers are the heart and soul of any company. They give the all-important impetus for a company to grow and progress. For this, they need people who know how to deal efficiently with customers and their grievances.
- Investor Relations
Almost as important as it is to maintain cordial relationships with customers you must know how to maintain good relations with the investors of a company. In this course you will be taught how to strike a balance between profit/ wealth maximisation as well as good relationships with investors.
- Financial Markets
Every banking and insurance professional needs to have the knowledge of financial markets, its products, local financial regulation, recent changes and developments and much more. This is where you get to know the insides of the financial services industry and how it is run.
Some Other Important Subjects:
- Investment and Portfolio Management
- Cost Accounting
- Banking Laws
- Organisational Behaviour
- Management Accounting
- International Banking
- Business Ethics and Communication
- Financial reporting and Analysis
Top Universities That Offer BBI Course
There are a number of universities that offer BBI course, here is a list of some of those universities:
- Cass Business School, City University of London
Sir John Cass Business School forms part of City, University of London. It is one of the world’s elite and London’s best business school. It is concurrently accredited by the Association to Advance Collegiate Schools of Business (AACSB), the Association of MBAs (AMBA) and the European Quality Improvement System (EQUIS), commonly known as the triple crown accreditation.
It offers BSc. Banking and International Finance(Hons) degree, a four-year degree will gear you for a career in the banking and finance industry. It is a highly flexible course where international finance is also taught which makes the overall appeal all the more exciting. They also offer finance and investment and financial risk management specialization.
- Wisconsin School of Madison, University of Wisconsin-Madison
This school was founded in 1990 and is amongst the earliest business programs in America. It boasts of a diverse and conducive academic environment that helps students to grow and develop.
The Bachelor of Business Administration program specialisation in Business: Finance, Investment, and Banking is a well-curated program that focuses on making students professionals in the industries of corporate finance, commercial banking and financial markets. The school also focuses on career exploration and counselling.
- Terry School of Business, University of Georgia
The Bachelor of Business Administration in Risk Management and Insurance is one of the topmost programs in all of the United States. It imparts an all-rounded approach where theoretical knowledge as well as practical applicability is given the utmost importance. Concepts of risk, its components and how it plays in the industry of insurance are focused upon within coursework. Commercial insurance, liability insurance, employee benefits, economic risk management are some of the major focus areas. The university also helps with internships and other placement services.
- Barney School of Business, University of Hartford
The undergraduate program in Risk Management and Insurance at the Barney School of Business at the University of Hartford is a one-of-its-kind program. Its curriculum focuses on a demand-based approach which will teach you how to deal with risk practically role-playing industry situations.
Qualifications That Can be Undertaken Alongside the BBI Course:
- Chartered Financial Analyst(CFA)
CFA is a three-level certification offered by the CFA Institute in America. A candidate needs to clear all three levels and gain professional experience after which the CFA charter is successfully conferred upon the candidate. It is one of the world’s toughest exams which comprises of concepts related to finance, investment and banking.
- Financial Risk Management
FRM is a Global Association of Risk Professionals or GARP-offered certification that tests a student’s understanding of core financial analysis and modeling concepts. It is based on testing the in-depth knowledge of how finance operates.
- Certified Public Accountant(CPA)
AICPA or the American Institute of CPAs confers the Certified Public Accountant certification. It is a much-coveted certification throughout the world. It tests candidates on Auditing, business environment, financial accounting and reporting, and regulation all of which are four-hour papers that needs to be completed within 18 months
Also Read: How to Make a Successful Career in Banking
Industries to Explore after BBI Course
Graduates in BBI course venture into different industries which suit their interests all of which offer great career prospects. Here is a list of few job profiles that you can explore:
- Investment banking
- Corporate Finance
- Commercial Banking
- Hedge Fund Opportunities
- Private Equity and Venture Capital Industry
Companies that look to hire BBI course graduates:
Finance is a field where possibilities meet reality and what you need is a great university to enhance your chances of landing a great job. Let the experts at Leverage Edu help you in shortlisting the universities that will help you in realizing your potential. So, gear up for a career in finance.