Job opportunities in Finance Sector
How to Study and pass IFRS Exam
March 24, 2022
CFA vs CMA: Comparison, Differences
April 14, 2022The finance sector has always been a significant contributor to the global economy. With the continuous expansion of businesses, there is an increasing demand for skilled professionals in the finance industry. From investment banking to accounting and financial analysis, there are a variety of job opportunities in the finance sector that offer rewarding careers for individuals with the right skill set. In this article, we will explore the various job opportunities available in the finance sector and discuss the skills required to excel in these roles. Whether you are a recent graduate looking to start your career or an experienced professional seeking new opportunities, the finance sector offers a diverse range of roles that cater to your skills and interests.
Corporate Finance:
Corporate finance is a sub-division of finance that provides funds for business activities. It deals with funding sources, investment decisions, and capital restructuring. The critical job functions in this profession include:
Investment Banking
Investment banking finds a place among the most prestigious career options in finance. It is also a lucrative path in terms of professional growth and salary package. Investment bankers are responsible for tasks related to financial remodelling. Their work involves working with data and numbers and introducing decisions that improve business operations. These practitioners must have an interest and insightful knowledge of financial markets and economic trends. Other job profiles can range from trading and stockbroking to asset management to equity research. Stockbrokers are professional traders or registered representatives who buy and sell shares on behalf of their clients. Asset managers determine what investments should be made with the view of growing their clients’ portfolios over time and mitigating risk. Careers in equity research involve ascertaining certain investments’ value to help individuals and institutional investors make investment decisions. Investment banks generally hire interns and prospective associates from top-tier educational institutions. An MBA (Finance), and sometimes a Law degree, can be beneficial in entering this field. If you are looking to pursue a specific career path such as stockbroking, you can opt for short courses or diplomas in stock analysis or stock market research. The National Stock Exchange (NSE) also offers such formal credentials.
Portfolio Management:
Portfolio management is a fusion of commerce and science as it requires knowledge of business, mathematics, and analytics. As a portfolio manager, you do not pore over individual investments but look at the overall investment mix of your clients, who may be institutions or individuals. Also, it would be your job to guide organizational policies on investments and decisions regarding asset allocation. It is crucial in portfolio management that employed professionals work to maximize profits at a negotiated risk. This would require conducting a SWOT (Strength, Weakness, Opportunity, Threat) analysis in the domestic and international markets across areas like growth vs. safety, debt vs. security, and so on. Education in Economics, Business Administration, or Accounting is ideal for these types of careers. It is also recommended to get training in statistics and refine your mathematical skills to pursue portfolio management jobs. Demonstrated experience in financial asset management or working with investment institutions can work to your advantage. Besides, you would need excellent communication and interpersonal skills to handle requests from clients and customers.
Risk Management:
Risk management professionals are competent in identifying market risks and recognizing poor investment outcomes. Their primary duty is to maximize returns and minimize risks strategically. For this purpose, they apply their mathematical prowess and analytical reasoning skills and advise their clients on various business matters. The job roles can be divided into:
Financial Planning:
Individuals and companies require the services of financial planners to secure their current and future financial stability. A career in financial planning would entail reviewing financial statements, and cash flows and creating methods for saving and investing in matching the clients’ needs. You can choose to concentrate on a specific area, viz. wealth management, tax planning, estate planning, retirement planning, investment growth, etc. Here are a few places that employ financial planners in India:
Commercial Banking:
Commercial banks provide a host of services to individuals and businesses. The offerings range from savings and current account facilities to debit and credit cards to personal, home, education, and other loans. Commercial banking also includes analysis of financial statements, competitive positions, and industries. There are several types of roles, each one requiring different skill sets in the banking sector. The most popular posts include credit analyst, banking associate, account manager, trust officer, bank teller, mortgage banker, and branch manager. The primary duty of bank personnel is to maintain relationships with the bank’s existing customers and find new clients to keep the business running. For this, they need to deliver effective and customer-friendly services and remain proactive in improving the bank’s day-to-day functioning. Commercial banking is considered an attractive career choice for many aspirants due to the decent pay packages and working hours. An undergraduate degree in Business and Commerce can qualify you for an entry-level position like a credit analyst. Many BFSI sector recruiters also hire data science professionals for analyst jobs. You can build your profile with an MBA degree and advance to business development and client-facing roles like account management. Moreover, financial services are rapidly evolving in the current technology-led world. So, your career choices need to be future-oriented. Let us look at some latest innovations in the Fintech space.
Compliance and Internal Control:
Compliance services engage managers and administrative officials to ensure that all procedures and activities adhere to applicable laws, ethical practices, and standards. Companies want to avoid any harm to their reputation and finances on account of regulatory non-compliance. Jobs in the finance sector are highly important for ensuring effective business performance. One crucial role within this sector is that of compliance officers.
These professionals can be found working in various environments, including international university offices, where they oversee components such as grants, gifts, and contracts. Additionally, financial compliance departments in corporate firms rely on these experts to safeguard investors' interests and uphold transparency. The job functions of compliance officers directly contribute to minimizing financial fraud and mitigating system risks within the finance sector.
For guidance on ACCA courses and job opportunities contact us, we will guide you in a right way.
The Main Areas of Career Opportunities in Finance
- Corporate Finance. All corporate entities, irrespective of large or small have a big finance department.
- Banking sector and NBFC.
- Insurance sector.
- Financial Markets.
- Financial Services.
- Fintech.
- Traits required in students to make a good career in the financial sector.
- Education and training.
Top Finance Career Opportunities in India
Public Accounting:- A career in finance in India encompasses a wide-ranging field of study and professional practice, encompassing various financial services. Its primary focus lies in the recording and management of monetary flows for both public entities and private companies. Professionals in this field, commonly known as public accountants, play a crucial role in providing recommendations and delivering reports to minimize expenses, increase revenue, and enhance the overall financial well-being of organizations.
- As an accountant, you can work in-house to help organizations get their finances in order, understand the soundness of their investments, and make projections to achieve long-term goals. Employment opportunities may arise in the commercial or private sector as well as in select accounting firms.
- When exploring finance career options, graduates in Commerce and Business Administration have the opportunity to pursue a CPA qualification, which enables them to become internationally licensed accountants. Additionally, degrees such as Master of Commerce (M.Com.) and MBA (Finance) are widely recognized as evidence of candidates' academic expertise in this field. By acquiring higher education in finance, individuals can effectively distinguish their profiles from competitors when applying for sought-after job positions.
Corporate Finance:
Corporate finance is a sub-division of finance that provides funds for business activities. It deals with funding sources, investment decisions, and capital restructuring. The critical job functions in this profession include:
- Balancing risk and profitability
- Analysing and forecasting economic trends
- Reviewing company reports and suggesting improvement measures
- Maximizes value of stock
- Managing funds and selecting investment portfolios
- Performing tasks related to financial risk management
Investment Banking
Investment banking finds a place among the most prestigious career options in finance. It is also a lucrative path in terms of professional growth and salary package. Investment bankers are responsible for tasks related to financial remodelling. Their work involves working with data and numbers and introducing decisions that improve business operations. These practitioners must have an interest and insightful knowledge of financial markets and economic trends. Other job profiles can range from trading and stockbroking to asset management to equity research. Stockbrokers are professional traders or registered representatives who buy and sell shares on behalf of their clients. Asset managers determine what investments should be made with the view of growing their clients’ portfolios over time and mitigating risk. Careers in equity research involve ascertaining certain investments’ value to help individuals and institutional investors make investment decisions. Investment banks generally hire interns and prospective associates from top-tier educational institutions. An MBA (Finance), and sometimes a Law degree, can be beneficial in entering this field. If you are looking to pursue a specific career path such as stockbroking, you can opt for short courses or diplomas in stock analysis or stock market research. The National Stock Exchange (NSE) also offers such formal credentials.
Portfolio Management:
Portfolio management is a fusion of commerce and science as it requires knowledge of business, mathematics, and analytics. As a portfolio manager, you do not pore over individual investments but look at the overall investment mix of your clients, who may be institutions or individuals. Also, it would be your job to guide organizational policies on investments and decisions regarding asset allocation. It is crucial in portfolio management that employed professionals work to maximize profits at a negotiated risk. This would require conducting a SWOT (Strength, Weakness, Opportunity, Threat) analysis in the domestic and international markets across areas like growth vs. safety, debt vs. security, and so on. Education in Economics, Business Administration, or Accounting is ideal for these types of careers. It is also recommended to get training in statistics and refine your mathematical skills to pursue portfolio management jobs. Demonstrated experience in financial asset management or working with investment institutions can work to your advantage. Besides, you would need excellent communication and interpersonal skills to handle requests from clients and customers.
Risk Management:
Risk management professionals are competent in identifying market risks and recognizing poor investment outcomes. Their primary duty is to maximize returns and minimize risks strategically. For this purpose, they apply their mathematical prowess and analytical reasoning skills and advise their clients on various business matters. The job roles can be divided into:
- Financial Risk Manager
- Enterprise Risk Manager
- Supply Chain Risk Manager
- Operational Risk Manager
- Digital Risk Manager
Financial Planning:
Individuals and companies require the services of financial planners to secure their current and future financial stability. A career in financial planning would entail reviewing financial statements, and cash flows and creating methods for saving and investing in matching the clients’ needs. You can choose to concentrate on a specific area, viz. wealth management, tax planning, estate planning, retirement planning, investment growth, etc. Here are a few places that employ financial planners in India:
- wealth management and financial services firms
- Knowledge Processing Organizations (KPOs)
- Non-Banking Financial Companies (NBFCs)
- Asset Management Companies (AMCs)
- Finance Journalism
- Self-employment
Commercial Banking:
Commercial banks provide a host of services to individuals and businesses. The offerings range from savings and current account facilities to debit and credit cards to personal, home, education, and other loans. Commercial banking also includes analysis of financial statements, competitive positions, and industries. There are several types of roles, each one requiring different skill sets in the banking sector. The most popular posts include credit analyst, banking associate, account manager, trust officer, bank teller, mortgage banker, and branch manager. The primary duty of bank personnel is to maintain relationships with the bank’s existing customers and find new clients to keep the business running. For this, they need to deliver effective and customer-friendly services and remain proactive in improving the bank’s day-to-day functioning. Commercial banking is considered an attractive career choice for many aspirants due to the decent pay packages and working hours. An undergraduate degree in Business and Commerce can qualify you for an entry-level position like a credit analyst. Many BFSI sector recruiters also hire data science professionals for analyst jobs. You can build your profile with an MBA degree and advance to business development and client-facing roles like account management. Moreover, financial services are rapidly evolving in the current technology-led world. So, your career choices need to be future-oriented. Let us look at some latest innovations in the Fintech space.
- Payment banks are fostering financial inclusion and digital payments
- Artificial intelligence and cognitive analytics are powering data-driven decisions
- Blockchain implementations are set to transform banking and financial markets
- Robotic process automation or RPA has the potential to address case backlogs
- The need for cyber security solutions to eliminate intrusions and attacks has multiplied
Compliance and Internal Control:
Compliance services engage managers and administrative officials to ensure that all procedures and activities adhere to applicable laws, ethical practices, and standards. Companies want to avoid any harm to their reputation and finances on account of regulatory non-compliance. Jobs in the finance sector are highly important for ensuring effective business performance. One crucial role within this sector is that of compliance officers.
These professionals can be found working in various environments, including international university offices, where they oversee components such as grants, gifts, and contracts. Additionally, financial compliance departments in corporate firms rely on these experts to safeguard investors' interests and uphold transparency. The job functions of compliance officers directly contribute to minimizing financial fraud and mitigating system risks within the finance sector.
For guidance on ACCA courses and job opportunities contact us, we will guide you in a right way.
1 Comment
I appreciate you sharing this blog post. Thanks Again. Cool.