All You Need To Know About Finance Roles After An MBA

• Banking Roles - Corporate Banking, Retail Banking, Investment Banking, Markets, Bank Treasury Management, Transaction Banking are some popular banking roles open to you.
• Corporate Finance Roles - Treasury Management, Finance Manager are some popular corporate roles open to you.
• Other Finance Roles - Analyst at the Rating agency, Manager at Financial Consulting firms, Risk Manager at a Financial Institution, Fund Manager at an Insurance company, Manager at a new-age Fin-Tech company like Wallets, SME Lending platforms, are some popular roles open to you.

As we said before, many of the above roles include a sales angle. It is a myth that a finance role entails math wizardry. Get a detailed understanding of the sector and company-specific roles in the list below in this article.

Within Banking, roles need to be divided based on whether they are client-facing or not:

1) Front Office or Client Facing Roles.
2) Middle Office or Support Roles.

The above distinction is important for you to know before you apply. A foreign bank may offer a higher compensation but if you are determined to only do client-facing work you should consider an Indian company which will give you the opportunity from day one to work in a team that deals with clients.

Middle office roles offered by foreign banks makes you part of a team that works for a client-facing team sitting in London, New York, Hong Kong or Singapore. Over time you may get a chance to move to the front office but the process takes its own time.

It is also important which campus you hail from. There are probably only 3-4 campuses in India where foreign banks even offer front office roles.

Find a list of company and sector-specific roles that you can work with your finance specialization.

*Note: This is an indicative list and not an exhaustive list. This is to aid your understanding of the sector and job opportunities for management graduates.

Corporate Finance Roles

1. Role: Corporate Treasury (Companies like HUL, Mondelez, Nestle, GE etc.)

The corporate treasury role entails managing the firm’s liquidity, capital and risk, and providing the overall financial control and reporting functions, assessing the creditworthiness of the firm’s counterparties, monitoring market risks associated with trading activities, offering analytical and regulatory compliance support.

Corporate Treasury works closely with the CFO, Treasurer and other members of senior management to manage the firm's funding, liquidity, capital and relationships with creditors and regulators. The department plays a key role in firm-wide strategic and analytical projects, providing a unique insight into the firm’s business activities and performance.

Concepts you need to know:

• Treasury Operations
• Cash Management
• Working Capital Management
• Business Valuation
• Accounting

Roles Offered By Specific BFSI Industry Leaders

Goldman Sachs

1. Role/Department: GIR (Global Investment Research)

The Global Investment Research division provides original, fundamental insights and analysis for clients in the equity, fixed income, currency and commodities markets.

Students are placed into equity, credit, economics, commodities and strategy research teams, where they focus on project work and the day-to-day tasks of a research team. They work closely with their teams and broader business units. They gain exposure to all aspects of a research analyst’s role.

Responsibilities include writing reports on companies under coverage and developing and updating financial models. A typical day could include working on financial models, conducting research on and writing portions of thematic pieces, analyzing market trends and attending conferences.

Concepts You Need To Know: Concepts related to Financial Derivatives and Valuation basics would do.

2. Role/ Department: IBD (Investment Banking Division)

An investment banker provides M&A advice, including sell-side advice, raid and activism defences, cross-border M&A, special committee assignments and complicated merger transactions. Provides advice on a full range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, raid defences, spin-offs, divestitures and other restructurings.

Responsibilities include making pitch books and roadshow presentations. Also, includes performing some valuations and investor presentations.

Concepts You Need To Know: Concepts related to M&A basics would do.

3. Role/ Department: MRMA (Market Risk Management and Analysis)

The primary roles of the MRMA department are to develop appropriate measures of market risk; to use these measures to monitor the market risk that The Goldman Sachs Group, Inc. and its affiliates (the- firm) is exposed to and to recommend to the Firmwide Risk Committee appropriate market-risk limits;
To recommend policies and standards for model development, approval and control and to validate the firm's valuation and risk models; and to report on market risk, including compliance with market-risk limits, to the firm's senior managers and regulatory authorities.

MRMA is also responsible for the calculation, analysis and reporting of market risk capital requirements for the firm and associated businesses.

Concepts You Need To Know: Risk and Return Concepts should be pretty clear.

J. P. Morgan Chase

1. Role/ Department: CRG (Centralized Research Group)

It is JPMC India's IB Division. Provides M&A advice, including sell-side advice, raid and activism defenses, cross-border M&A, special committee assignments and complicated merger transactions. Provides advice on a full range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, raid defences, spin-offs, divestitures and other restructurings.

Responsibilities include making pitchbooks and roadshow presentations. Also, includes performing some valuations and investor presentations.

Concepts You Need to Know: Concepts related to M&A basics would do.

2. Role/Department: CAU (Credit Analysis Unit)

The Credit Analysis Unit (CAU) in Mumbai is a part of the Corporate & Investment Bank (CIB) - Credit Risk function of J.P.Morgan. CAU works closely with the in-country Bankers and Credit Executives and provides them with a comprehensive credit risk analysis of clients - covering industry, business & financial profile; as well as recommendations on credit facilities & risk grades.

Responsibilities Include:

Independently prepare credit risk analysis reports on assigned clients (covering industry, business, financial and credit issues). Recommend rating grades based on the analysis.

• Good understanding of various techniques and methods of credit analysis, accounting treatments, financial adjustments etc.
• Good working knowledge of allocated sectors and regularly track sector developments on an on-going basis.
• Develop and maintain open communication channels with corporate bankers. Independently handle all calls/rating discussions with bankers & Credit Executives.
• Track the credit and update bankers on key developments w.r.t their clients or industry.
• Mentor and train junior analysts in the team. Training junior analysts on fundamentals on credit risk and internal systems & processes. Supervising their credit reviews.

Concepts You Need To Know: Risk and Return Concepts, Accounting, Business Valuation.

Bank Of America Continuum

1. Role/Department: GIB - Pitchbook

The GIB Analyst Support team is made up of focused industry/product groups that support deal teams in capital raising transactions and to provide strategic advice during Mergers and Acquisitions and other capital market activities. The role will provide analysts with an opportunity to work with Investment Banking teams across the global offices of Bank of America Merrill Lynch (BAML).

Specifically, the analysts would help Investment Bankers in their business origination and client coverage efforts through the building of client pitchbooks, performing valuations and supporting business analysis. Analysts will be able to leverage world-class learning resources and programs to help them develop their professional skills.

• Responsibilities:
• Analyze company financial statements, prepare financial models, perform company valuations using various methodologies and analyze merger consequences.
• Perform thematic research, analyze industry structures and economic trends.
• Closely align with bankers with continued interaction to support them throughout the pitch/deal process.
• Prepare deal-materials like information/ offering memoranda, investor presentations, committee presentations, client pitchbooks, Roadshow materials.
• Be a critical part of the execution process by playing touch-point for deal/client management.

Concepts you need to know: Concepts related to M&A basics would do

HSBC

1. Role/ Department: STG (Strategic Transactions Group)

• Identifies, structures and executes a range of transactions for corporate, financial institutions and governments. Transactions include mergers, acquisitions, divestitures, spin-offs, split-offs, issuance of equity or debt capital.
• The incumbent will be required to work extensively in an integrated team environment with global investment banking professionals on ideas, pitch books and presentations across sectors and countries.
• Focus on supporting origination and execution of mergers and acquisitions (M&A) assignments, divestitures, financial restructurings and associated financing solutions.
• Support the deal team by performing financial valuation; delivered through our coordinated coverage and global-local infrastructure.
• Acquire in-depth understanding of client needs and the market, industry and business environment. This understanding enables the firm to design customized solutions for clients - whether it is strategic initiatives like M&A, financing or risk management solutions.
• The incumbent will work on a very wide variety of transactions with HSBC bankers from across the world. The role is part of GBM Service Center and based at Bangalore.

Responsibilities:

• Analyses, building and using financial models; preparing presentation materials and participating in deal pitches & executions; conducting industry and product research.
• Overtime creates enough understanding of the sector to identify new business opportunities.
• Carrying out financial modelling (vis relative valuation analysis, LBOs, DCFs, Merger plans), and developing and presenting.
• Appropriate pitchbooks to senior bankers.

Concepts you need to know: Concepts related to M&A basics would do

Deutsche Bank

1. Role/ Department: IBD (Investment Banking Division)

• Provides M&A advice, including sell-side advice, raid and activism defences, cross-border M&A, special committee assignments and complicated merger transactions.
• Provides advice on a full range of transactions, including mergers, sales, acquisitions, leveraged buyouts, joint ventures, raid defences, spin-offs, divestitures and other restructurings.

Responsibilities include making pitchbooks and roadshow presentations. Also, includes performing some valuations and investor presentations.

Concepts you need to know: Concepts related to M&A basics would do.

2. Role/Department: GTB (Global Transaction Banking)

Cash management, Trade finance and Securities services.

Concepts You need to know: Cash Management

ICICI Bank

1. Role/ Department: ICICI Securities Ltd.

Trading Profiles, Credit Analysis

Concepts you need to know: Trading Profiles, Credit Analysis

2. Role/ Department: ICICI Bank - Management Trainee

Students get exposure to all kinds of banking - wholesale, corporate, retail, investment and rural.

Concepts you need to know: General Concepts of Finance

YES Bank

1. Role/ Department: Management Trainee

Students get exposure to all kinds of banking - wholesale, corporate, retail, investment and rural.

Concepts You need to know: General Concepts of Finance

Axis Bank

1.Role/ Department: Management Trainee

Students get exposure to all kinds of banking - wholesale, corporate, retail, investment and rural.

Concepts you need to know: General Concepts of Finance

CRISIL & ICRA

1.Role/ Department: Ratings

• Analyze the company's financial performance which include: Past financial and business performance & benchmark these against peers performance.
• Project future performance of the company.
• Undertake rigorous credit risk analysis encompassing industry/ business research and financial analysis of large corporates.
• Assign Ratings and prepare reports that cogently capture the rationale behind the rating.
• Make credit rating recommendation to the Rating Committee.
• Discuss being rated with key corporate management personnel, to understand their strategy and business model.

Concepts you need to know: Risk and Return Concepts, Accounting, Business Valuation

2.Role/ Department: Research

Description: Equity Research

3.Role/ Department: Infrastructure Advisory

Description: More of a consulting Role

EY- Transaction Advisory Services

1. Role/ Department: LA (Lead Advisory)

EY's IB division - Preparation of client deliverables – Information Memorandum, Investor presentations, Business plan and financial models. Sector focused M&A opportunity research and support on marketing pitches. Active participation in deal ideation

Concepts you need to know: Concepts related to M&A basics would do.

2. Role/ Department: Restructuring

• Key role in client service delivery.
• Act as a Trusted Business Advisor & Build Relationships.
• Lead on-field work on Independent Business Reviews in Stressed/ Distressed situations
• Participate in delivery of Operational Restructuring/ Turnaround Advisory Engagements
• Participate in advising clients on strategic issues and understanding client’s needs
• Independently lead and coordinate the planning and management of small/ medium assignments, with a focus on
• Pricing, Billing & Recovery
• Maximizing fee opportunities
• Risk Management
• Develop and implement risk management strategies, plans and activities with minimal partner involvement
• Manage sensitive and high-level risk issues
• Proactively resolve (with Partner support) risk issues in delivering service to clients
• Knowledge Management
• Champion knowledge sharing efforts, review and continually improve processes so that the team and firm capture and leverage knowledge.

Concepts you need to know:

• What is Restructuring?
• Different Types of Restructuring (Operational, Financial, Asset, corporate, organisational, IT)
• Difference between refinancing and restructuring

3. Role/ Department: (PFI) Private Finance Initiative

• Bid Management for PPP Projects and other small players
• Assist and advise clients on the development and evaluation of their PPP financial models
• Preparation and development of bidding documents including concession agreement
• Help client and team in Bid process management including application, RFQs and Bid evaluation
• Support clients in negotiating PPP transactions including the drafting and reviewing of bid documentation, issue papers, and reports for external use
• Provide support to the preparation of PPP proposals to target clients
• Participate in Infrastructure/PPP conferences and other marketing initiatives
• Financial modeling, transportation modeling or socio-economic impact modeling experience
• Understanding of how to conduct effective analysis on infrastructure projects, PPPs

Concepts you need to know: General concepts of finance

4. Role/ Department: CFS (Corporate Finance and Strategy)

Due diligence, assessing market attractiveness, understanding the competitive environment in the industry, explaining business performance and evaluating future potential. Day-to-day work might include analyzing data, conducting primary research (e.g. interviewing industry experts), conducting secondary research (e.g. analyzing industry reports), developing PowerPoint presentations and building and testing strategic hypotheses.

Concepts you need to know:

• Concepts related to Capital Structure and Corporate Finance?
• What is Due diligence?
• Different Types of Due diligence (Operational, Financial, Asset, corporate, organisational, IT)

PwC

1. Role/ Department: DDV (Delivering Deal Value)

PwC Global's IB Division.

• Due Diligence
• Financial Statement Analysis: P&L Forecasting, EBIDTA analysis, gross margin impact analysis
• Financial Modelling: developing cost models, revenue models
• Market Assessment: market and industry research, market sizing, trends analysis
• Competitor Assessment: competitive research and benchmarking, SWOT analysis, product and services, competitor market strategies and key focus areas
• Bench-marking for key operational and financial metrics
• Candidates with prior deal experience will be given preference – mergers and acquisitions, divestitures.

Concepts you need to know:

• Concepts related to M&A basics would do.
• What is Due diligence?
• Different Types of Due diligence (Operational, Financial, Asset, corporate, organisational, IT)

Curious about learning these concepts to crack internship interviews? Check out the Finance Internship Interview Prep Course on Konversations here.