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                                                                                                                    BANKING & FINANCE

For a developing country like India, banks are considered as the backbone of the country’s economy. The global disturbance in the financial segment that occurred a few years ago had the least effect on our country’s banking sector because of our sound banking and financial system. The banking sector in India is growing at a rapid rate and is among one of the fastest growing industry vertical. The rapid advancements and growth in the¬†banking sector¬†has paved way for many banking career opportunities. The banking sector in India is gearing itself and there are much more private banks to come in the near future. All of these bring in huge career opportunities for those who aspire to become future bankers.

Bank jobs are backed up by a huge wealth of diversity and almost every vacancy created in a bank incorporates some sort of banking element such as law, accounting, investment banking, taxes, public relations, customer relationship management etc. Moreover a career in banking is international in nature and a number of international and private banks set up in the country have opened up opportunities for the deserving candidates

Job opportunities for graduates and post-graduates in banking are excellent in India. Once you complete a selective professional course in banking, you will immediately be offered a position as a banking sales officer with the private banks. Of course, your technical skills and basic communication skills do matter in the process.

Besides, positions in insurance, personal loans, mortgages, collections and back office operations are always vacant and offer all bright to average students to avail the opportunities presented.

1. Decent Salary-

Banking Industry pays well. Salary provided in a bank job is high as compared to other entry-level jobs in India. In a public sector bank, the salary of a probationary officer ranges at around 4-4.5 lacs per annum in a public sector bank. For an SBI bank PO, it is slightly higher. It is expected that the starting salary of officers in public sector banks will increase to almost 5 Lac per annum soon. So if you are a fresher,  starting your career as a Bank employee is great.

2. Growth Opportunities and no promotion limits-

The sky is the limit when you get an entry into the Banking Sector. Growth Opportunities in the banking sector are immense. Candidates joining as probationary officers (PO) or as clerks may need to face rural areas in the beginning, but by the fourth year, a second promotion can be expected and they may even get promoted to the General Manager position in their 15th year. Arundhati Bhattacharya and many more eminent personalities are the great examples who started their career in the bank as a Probationary Officer and made it to the chairman position. Apart from this banking does your overall development and provides you all the required skills for a job. So later you can opt for the higher-paying jobs or can start your own business.

3. Job Security-

Job Security is one of the major reasons to opt for the Banking Industry. In the case of the public sector, the matter of job security has been always higher. This is also the case for individuals with poor performance. Your future and job are secure with decent pay. There are very few chances to get fired from Bank until and unless you something unethical (like taking bribes) or completely not suitable for the bank job.

No job security is one of the major reasons for disliking Private Jobs as the private sector is very competitive.

4. It’s for everyone-

There is a career in banking for everyone. The interested candidates must be a graduate. Be it any stream, anyone can apply for the banking jobs. The banking sector offers a career for graduates from all fields such as Arts, Science, Finance, Marketing, Communications, Economics, Mathematics, Law, Engineering, IT, Psychology and others. By this way, you will get a chance to meet people from different specializations. There is no special skill required for getting entry into this sector. Banks hire the candidates and provide the required training.

So if you are someone who is willing to learn, to accept new challenges and seeks growth, then Banking Sector is waiting for you.

5. No Recession Effect-

Banks are the backbone of a country’s economy. Especially when it comes to developing a country like India, the financial condition relies on Banks completely. Some years back, during the global recession, our country was affected the least because of the soundness of the Indian Banking system. All in all, the banking sector is generally not affected by the recession.

6. Overall Skill Development: 

You will get lots of opportunities to enhance your knowledge as well as skills at a bank. Most of the banks in India offer on-the-job training and encourage you to further your education through a variety of courses, seminars and training programs. Banks have training departments to train students and to help them maximize and utilize their skills through educational programs, technical training. Team building activities and social events are also organized, 

 While working in a bank, you develop a set of skills that are standard across all careers. For e.g., interpersonal skills, customer relations, financial management, strategic thinking, and planning etc. Apart from it, the challenging nature of work, which is not just lending and depositing, bank jobs will develop your leadership and decision-making skills. There are not many career options which will provide you all these skills. So an overall development through various programs, challenges, and work nature are one of the major reasons to go for the Banking sector.

7. Job Satisfaction-

Job satisfaction is a very subjective issue and it differs from person to person. But being an interaction-based job, Banking Sector offers the chance to help people with their financial matters. Banking sector gives you social exposure, which you do not get in IT Sector jobs. Apart from it, the work culture of a Bank is quite good.

8. Leaves/Holidays-

Banks offer a fair number of holidays in comparison to other Private Organizations. Banks have a fair number of holidays than you can get while working in an Organization. Banks do care about the festivals and appropriate leaves are given for any festival. In this way, you will get the chance to celebrate every festival with your family and will be able to maintain a good professional and personal work-life balance. Lots of other benefits and Incentives -Apart from offering a good pay grade, Jobs in banking sector includes many incentives, benefits, allowances and concessions.  Banks employees are eligible for excellent benefits, incentives, special allowances, including medical insurance and disability insurance, sick leave and vacation, concessions, paid vacations, paid leave, retirement benefits along with basic salary. Reimbursement for newspaper and transportation are given to the bank employees. Maternity leave and Paternity leaves are also provided. In this way, salary and other benefits in a bank are better than other organizations. 

9. A lot of people want it-

There is a long queue of people who want to get your seat if you are working in a bank. It is one of the most desired jobs which make it. Banks will always need to hire and train people. After getting an entry into a bank, further success will rely on aptitude skills, ability to cope up with the challenges and teamwork skills.

10. High Regard-

You get social prestige if you are a Bank Employee. The job in the banking sector is treated with high regard.

Types of Banks in India

The banks in India can be categorized as following.

  • Commercial Banks: The major role of the commercial banks is to enable businesses and entrepreneurs with the financial services. Commercial banks are further categorized into the following.

                                                            Private Sector Banks

  • Commercial Banks ¬†¬†¬†¬†Public Sector Banks

                                                          Regional Banks

  • Co-operative Banks: Co-operative banks mostly benefit the rural people like farmers, small scale industries etc. These are controlled and managed by the co-operative societies. These can be further categorized into

                                                State co-operative Banks

  • Co-operative Banks¬†¬† ¬†¬†¬†¬†¬†¬†¬†¬†Central co-operative Banks

                                                            Primary Agriculture Credit societies

  • Investment Banks and specialized banks: These provide financial assistance to its customers and provide necessary support like foreign exchange, sales of equities, foreign trading etc. to its customers.

                                                                              Description of key job positions in banking

1, Dealer/Trader

  • Purchase, keeping and sale of securities, commodities and foreign currencies in the currency of the clients and/or on the account of the bank.
  • Monitoring and verifying prices of the financial tools at the security exchange.
  • Following and analyzing the development on financial markets.
  • Exchanging information with colleagues and clients.
  • Preparing financial reports.

2, Internal Auditor

  • Drafting comprehensive plans and programs of audits.
  • Performing audit activities at the company‚Äôs headquarters and branches.
  • Checking compliance with internal regulations and the legislation.
  • Reviewing business and operational activities of organisations.
  • Processing audit outputs in the form of reports.
  • Making recommendations and monitoring the removal of any identified deficiencies.
  • Providing advice and consultancy within the scope of the auditor‚Äôs competence.

3, Product Manager ‚Äď Specialist

  • Developing the new and innovating the existing bank products and services.
  • Monitoring and analyzing the competitive environment.
  • Following the fulfilling of goals in the area of product profitability.
  • Taking part in creating and setting the processes connected with products.
  • Directing and training new employees.
  • Analyzing and solving arisen operating problems.
  • Cooperating with other departments of the bank.

4, Risk Specialist

  • Identifying credit, market, operational, strategic and liquidity risks potentially threatening the assets and cash flow of the bank.
  • Developing methodology for measuring individual types of risks.
  • Designing and analyzing measures to prevent risks.
  • Designing solutions to cover damage in case of risks.
  • Using external registers (e.g. credit register, register of Social Security debtors, etc.) in assessing risks.
  • Cooperating with product and project managers, underwriters and other bank departments.

5, Relationship Manager

  • Presentation and sale of bank products and services to the clients of the company.
  • Monitoring of the market and of the competitive activities in the entrusted region.
  • Searching for new clients.
  • Creating and developing business connections with the company‚Äôs clients.
  • Fulfilling of the stated personal business plan.
  • Taking part in fulfilling the financial and campaign plans.
  • Being in charge of the files and databases of clients.

6, Private Banker

  • Managing liquid assets, stocks, bonds and real estate of highly creditworthy bank clients.
  • Seeking out potential clients and their acquisition within their area of operation.
  • Detecting the individual requirements and objectives of clients with the intention to propose the optimal
  • Investment solution for the appreciation of their property.
  • Communicating with experts in asset management, real estate, lawyers etc.
  • Providing advice in the investment and real estate area.
  • Handling the special requirements of clients (e.g. booking tickets for an event, providing private jet transportation, etc.).

7, Financial Analyst

  • Preparing regular and ad hoc financial analysis.
  • Preparing statistics.
  • Developing weekly and monthly reports.
  • Taking part in developing financial plans.
  • Taking part in developing and improving controlling mechanisms.
  • Communicating with the high management members of the company and other departments.

8, Stock Broker

  • Making business transactions with clients.
  • Searching for potential clients.
  • Communicating with clients with the purpose of securing their needs.
  • Communicating with dealers/traders about the details of the business transaction.
  • Addressing clients on the phone with investment offers.
  • Providing clients with counseling in the area of investment.

 9, Compliance Specialist

  • Assessing the legality of the bank‚Äôs entrepreneurial activity.
  • Monitoring the legislative standards and requirements of organs of supervision that are valid in the place of the bank‚Äôs activity.
  • Identifying the risks in the legislation and/or internal procedures.
  • Point out the potential risks to the superiors.

10, Custody Specialist

  • Securing the administration and custody of securities for clients.
  • Keeping clients informed about corporate shares concerning the administrated securities.
  • Carrying out operations with securities on the basis of clients‚Äô orders.
  • Calculation and control of the current value of securities in the administration of the bank.
  • Paying returns from securities.
  • Representing clients and their interests at general assemblies.

11, Personal Banker

  • Taking care of the assigned portfolio at the bank branch.
  • Creating and developing business relations with clients .
  • Presentation and sale of bank products and services.
  • Fulfilling of the set personal business plan.
  • Taking part in fulfilling the financial and campaign plan.

12, Mortgage Specialist

  • Providing advice to clients regarding mortgage products and services.
  • Communicating with real estate agencies, building investors, authorities and other entities.
  • Acquiring potential clients.
  • Processing and assessing customers‚Äô requests for mortgage loans.
  • Performing administrative tasks associated with the provision of mortgage loans.
  • Concluding mortgage loan agreements.

13, Claims Administrator

  • Recovering overdue receivables from the customers of a leasing company.
  • Registering and controlling overdue receivables.
  • Processing and sending written and e-mail reminders.
  • Communicating with debtors and other departments within the company.
  • Planning repayment schedules in the event of the insolvency of debtors.
  • Registering and checking payments in the system.
  • Preparing materials for the legal department.

14, Back Office Specialist

  • Processing of all types of client requests.
  • Entering and updating the information in the bank information system.
  • Drawing up and processing of contracts and contract amendments for individual banking products.
  • Archiving documents in compliance with the internal regulations.
  • Mastering internal regulations, general business terms and conditions, and business conditions for individual banking products.
  • Communicating with internal and external clients.

15, Card services Clerk

  • Processing applications for the issuance of credit and debit cards.
  • Communicating with companies issuing credit cards and bank branches.
  • Participating in the creation and updating of internal regulations.
  • Cooperating with project managers on new projects.
  • Solving complaints.
  • Assessing the suitability of motives on credit cards in your own design.

16, Client Officer

  • Active sale of bank products and of services to retail clients.
  • Opening and closing of bank accounts.
  • Realization of domestic and international wire transfers.
  • Accepting and issuing of cash in domestic and foreign currency.
  • Providing clients with counseling and information.
  • Carrying out administrative tasks connected with the provided services.
  • Fulfilling of the set business and acquisition plans.¬†¬†

KEY TOPICS COVERED

Foundation Topics

  • ¬†
    Retail Banking
  • ¬†
    Wealth Management
  • ¬†
    Priority and Non-priority sector lending
  • ¬†
    Forex Management
  • ¬†
    Investment and Risk Management

Specialization Topics

  • ¬†
    RBI and FEMA Guidelines, Merchanting Trade and Regulatory Norms
  • ¬†
    Exports ‚Äď FEMA guidelines and ICC Rules
  • ¬†
    Risk profiling and Asset allocation
  • ¬†
    NPA Management including Basel Norms and RBI guidelines

PROGRAM FEATURES

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    University Certification along with Alumni Status

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    Instructors from Industry

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    Access to latest Tools and Techniques along with their Business Applications

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    Support to participate in Hiring Challenges

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    Access to Career Building Soft Skill Self-Paced Content

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    Well Crafted Guest Lectures and Workshops delivered by Industry Experts

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    Learn through Real Time Industry Projects

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    Support to publish Journals and Research Papers

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    24*7 LMS Support

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    100% Placement Assistance

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