Key functional areas in Banking / Finance / Accounts domain

 Commercial Banking: Commercial banking sector is once again booming with job opportunities. Traditionally also there have been more jobs in the commercial banking sector than any other area of the financial services. As commercial banks are in the business of providing banking services to individuals, small businesses and large organisations, they need a large workforce to further consolidate their position.

Corporate Finance: It is a dynamic career opportunity for those who are passionate about making financial strategies, as corporate finance involve looking for source of money to run the business, grow the business, make acquisitions, plan for its financial future and manage any cash on hand. It is a highly responsible job and with immense possibilities to grow. That’s the reason a large number of financial professionals feel that corporate finance jobs are the most desirable in the entire financial sector.

Wealth Management: The importance of financial planning and wealth management in an individual’s life is immense. To make people take sound financial decisions is what the role of financial planners and wealth managers are all about. A good financial planner needs to have good knowledge of investments, taxes, long and short term money planning etc. You can work in an organisation or can start as an entrepreneur also.

Insurance: It is one of the most sought after sectors in the financial industry. An idea of this ever growing insurance business can be gauged from the fact that insurance is a trillion dollar business that employs more than three million people in the United States alone. In India too, this sector has grown rapidly in the last one decade. As the population ages and wealth grows, the demand for insurance professionals will increase dramatically. Major areas of opportunity that this sector includes are auto insurance, life insurance, health insurance, property insurance, etc.

Investment Banking: It is a highly specialised service in the financial sector. The job profile is quite challenging as it involves making strategies to raise funds for an organisation, by analysing the market trends, risk involved in investments and the prevalent economic conditions. An investment banker provides wide-range of services including endorsing securities, trading of stock and bond, facilitating mergers and acquisitions, maintaining broker-dealer operations and providing financial guidance regarding pricing of securities, issuing and placement of stock. Banks are always in need of skilled investment bankers, who can contribute more towards the growth of the organisation. With globalisation, the scope of investment banking has widened. Investment banks help companies and governments issue securities, help investors purchase securities, manage financial assets, trade securities and provide financial advice. The top investment banks including Goldman Sachs, JP Morgan and Morgan Stanley are said to be in the bulge bracket.

Financial Analyst: The job profile involves analysing and studying the financial data and guiding the company about their investments. A career as a financial analyst offers ample opportunities at junior as well as senior levels. There are several areas of specialisation, which offers designations as budget analysts, credit analysts, investment analysts, mergers and acquisitions analysts, money market analysts, ratings analysts, risk analysts, security analysts, tax analysts and the like. Banks and reputed firms are always in need of good financial analysts. A course like Chartered Financial Analyst (CFA) programme is especially designed for financial analysts.

Chartered Accountancy: Chartered Accountancy is a dynamic, challenging and rewarding profession and with the rapid growth in global economy, it has become one of the most prestigious career options in the financial sector. A chartered accountant is a specialist in accounting, auditing and taxation. A chartered accountant is a person who is accepted as a member of the Institute of Chartered Accountants of India (ICAI) after having passed the final examination of the chartered accountancy course conducted by the institute. The Institute of Chartered Accountants of India (ICAI) is both an examining and a licensing body. It is the responsibility of the institute to conduct the chartered accountancy (CA) Course.

With increasing avenues and growing demand for professionals, a little planning could lead to a successful career in the field of banking, finance and accounting.