If you are looking for a career in banking, then you can choose from an immense number of career opportunities. These have a vast number of options such as client facing, trading, operational and so on. Due to such a plethora of choices, banking is very exciting and a job field that is ever changing. The diverse nature attracts many and as a result of this it is becoming highly competitive. If you decide to pursue a career in banking, you have to keep in mind the complexity of the industry which often leads to various pitfalls. The recent mortgage bubble burst and the collapse of some world leading banks that had to be bailed out by the government has concentrated the limelight on this industry. As a result of this crises, billions of dollars have been lost around the world. The activities that banks take up are being scrutinized now more than what they used to be. As the banking industry is emerging from the abyss it had plummeted to, it is coming up with innovations designed to serve its clientele better and make more money. Thus, for all those looking for a career in banking this is exciting news as the right kind of work can push you up the first rung of career ladder. If you are interested in learning more about a banking career, then visit this website https://firstreporter.org/ for further details.
There are four major types of banking which you can choose for your career. These are:
- Retail Banking – Direct dealing with individuals and small scale business owners.
- Private Banking – A service for rich individuals on a one-to-one basis.
- Commercial or Corporate Banking – Offering banking facilities for medium to large enterprises.
- Investment Banking – Assisting clients to raise capital by mainly investing in the capital market.
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When it comes to large global banks, they generally deal with all these four verticals. These are often called as universal banks. The services that you would provide include:
- Providing advisory services to corporations for their mergers and acquisitions.
- Trading on stock markets
- Handling the finances of well-to-do individuals
- Managing the risk capacity of investment of wealthy individuals and enterprises.
- Doing restructuring of corporate finances
- Development and marketing of new financial products which majorly includes structured packages for investment.
- Designing new finance-related technologies and implementing them.
- Handling daily transactions of individuals such as loans, savings accounts, checking accounts.
If you are a part of a large financial institute, you may find yourself managing internal processes too. These include:
- Handling the own finances of the bank and not just that of other individuals.
- Nurturing and guiding new talent ( a function in the Human Resources capacity)
- Identifying, assessing and mitigating any risks which can arise from their own internal or external processes and trading their own assets.
Thus you can see that banking is an intricate career option to choose which has many possible career paths for you. You should choose wisely the deliver your best. You can also check out this website https://chronicules.com/ to get detailed information about starting a professional career.