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Hello friends, welcome to the Vidyavision YouTube channel. In this video, we are going to cover about Careers in Banking and Finance. After the nationalization of several banks in the year, 1981 by the Government of India, growth in the banking sector has gone up by leaps and bounds. Several private banks have been nationalized in this move. With this move, the whole banking industry came under the control of the Central Government of India. The Reserve Bank of India is the regulatory authority of the Banking Industry in India. Since then the banking and finance industry had catered to a lot of Careers in Banking and Finance in India. The banking and finance industry is the backbone of the economy of any country. Earlier, banking and finance mean deposits, withdrawals, and maintaining Accounts, and receipts. With globalization, the banking industry had gone through a drastic transformation. The banking industry became online. ATMs are introduced. With Mobile Banking, several financial transactions are done at the tips of fingers. Financial transactions are done without using currency. Wide ranges of technology and automation have been introduced in the banking industry. Awareness of stock market transactions has been created in public minds. The insurance and Pension sector has grown accordingly. Banking and Finance Courses. Banking and finance courses are offered at graduate, postgraduate, and diploma levels, in India. Graduate Courses. B Com. BBA. Post-Graduate Courses. M Com. MBA. MBA in Banking and Finance. Professional Courses. Charted Accountancy. Company Secretary. Cost & Management Accountancy. Diploma / Certificate Courses. Certified Financial Analyst. Certified Financial Planner. Financial Risk management. Charted Investment Analyst. Career Prospect. With the modernization of the banking and finance industry, new Careers in Banking and Finance are created. Along with the banking industry, several financial sectors like Insurance, stockbroking, funding, investment, wealth management, asset management, Agro-finance, housing finance, mortgage, auditing, and several financial consultancy firms have emerged and are catering vast amount of career opportunities. Roles in the Banking & Finance Industry. Teller. A Teller is a first level employee in a bank, who has direct relations with the customer. When a customer goes to the bank the first employee he meets is a teller. A teller rectifies the issues of a customer if it is above his designation, he drives the customer to the concerned officer. A teller is one of the traditional designations in banking jobs. A teller is also designated as a cashier. A cashier is an employee who receives deposits and disposes of withdrawals from a customer. All of the banks recruit Cashiers/Tellers for their entry-level regular functions. Accountant. The job of an Accountant is to maintain all the records of the financial activities of a firm. Accounting jobs are numerous. Every organization, small or big requires an accountant, who looks after and keeps records of the financial transactions of an organization. An Accountant prepares assets and liabilities accounts and maintains a balance sheet of all the financial records. All the daily, monthly, quarterly, half-yearly, and annual account records are maintained by an accountant. Accounting jobs are numerously available for a qualified accountants. Probationary Officer. Banks recruit Probationary officers for their core banking services. After their probationary period, these employees are assigned to a particular department in their core banking services. In due course of time, probationary officers are promoted to managers of a bank. A Probationary officer’s post is one of the traditional designations in banking jobs. Chartered Accountant. Chartered Accountants work with a wide range of responsibilities in business organizations. A Chartered Accountant prepares monthly and annual financial statements, and financial management reports, and undertakes the auditing of all financial transactions periodically. A Chartered Accountant also looks after the Tax issues of an organization. He advises the management on tax savings and submits reports on taxes to be paid legally. A Chartered Accountant investigates flaws and loopholes in the financial accounting system of an organization and recommends best reconciliations. Financial Analyst. The role of a financial analyst depends on the nature of the company or organization. A Financial Analyst analyses past financial records and prepare financial forecasts of his respective organization or department. He makes recommendations on investments and records economic and financial trends. He prepares a future action plan for the financial transactions of his respective department or organization. Investment Banker. Every business organization aims at stepping into new ventures and expanding its portfolio and business operations. Through raising funds for investment and bidding for Mergers and Acquisitions (M&A), an organization expands its operations. Investment Bankers play a key role in the business development of an organization. Major roles of an Investment Banker. • Makes presentations on forecasts of the business. • Plays key responsibility in Mergers & Acquisitions. • Assess and suggest new investment opportunities. • Conduct strategic research and prepare valuations. • Analyse future risks and recommend financial advice. • Issuing and selling securities in raising capital. Wealth management or Asset Management. Organizations or individuals who have plenty of cash or assets meet a wealth manager or Asset manager for generating profits through their cash or assets. A wealth manager or Asset manager is responsible for the doubling or tripling, sometimes quadrupling the revenue or assets of clients, individuals, or organizations. The job responsibility of a wealth manager is to offer investment advice and maintain clients’ investment portfolios. Loan Officer. The loan officer looks after the credit section of a financial firm. The job of a loan officer is to assess the financial status and repayment capacity of a loan applicant. A Loan officer verifies the loan applications from individuals or organizations and investigates their financial status and documentation process before approving their proposals. In a financial firm, be it a mortgage firm or a credit agency, or any other lending company, a Loan officer plays a key role in designing credit schemes for different sections of society. Tax Consultant. A tax consultant is an expert in tax laws. A Tax consultant also called as a tax accountant looks after all the tax-related functions of his client or for the organization he works for. The responsibilities of a tax consultant are. • Research on tax laws and corporate laws to be updated. • Collecting all the tax-related data. • Preparing Audit statements. • Prepares documentation process for filing tax returns. • Recommends tax reduction measurements for clients. • Negotiations between government Tax officials and clients. Commodity Broker. A Commodity broker acts as a middleman between producer and buyer on a commission basis. Commodity broking includes derivatives, metals, food products – raw or finished, oil, gas, currencies, and several physical commodities. A commodity broker often needs to visit suppliers, and clients, for negotiations. Finally, they are also responsible for building relationships with potential clients and developing new business opportunities. Stock Broker. Stock Broking is a career that requires updated knowledge of stock market trends. A Stockbroker provides recommendations and advice to clients on stock market updates. A stockbroker also manages a client’s portfolio. Some job responsibilities of a stockbroker like. • Evaluating Stock Market trends cautiously. • Offering stock market investment advice to clients. • Recommending clients on certain shares to buy or sell them. • Managing clients’ investment portfolios. Thank you for watching this video. Subscribe to our Vidyavision YouTube channel for Career Guidance videos, Exam updates, Courses, Results, Exam Time Tables, Notifications, College Reviews, and more. Follow us on social media for more updates.