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Emerging Careers In The BFSI Sector

Jan 20, 2020 | 6 minutes |

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The Banking, Financial Services and Insurance (BFSI) sector across the globe is ever blooming. Especially considering the digital boom that has happened in the past decade, new innovations have rendered the sector rife with opportunities. According to sources, the BFSI sector is projected to create 1.6 million jobs by the year 2022. Do you know what kind of skills you need to thrive in this sector? What are the domains that fall under this sector? What kind of job profiles can you expect if you bag a placement in BFSI? How do you prepare for a career in this sector? Find out in this article.

What profiles comprise the BFSI Sector?

Banking and Finance is a very large sector, comprising of so much more. The above is just an overview; each section is a sea of opportunities, each one unique in its own ways. However, the advent of technology has strongly affected the BFSI sector. How is Digitalisation affecting the BFSI sector? Today, we have ample ATMs across the world. However, back in the day, there would be individuals known as tellers (also cashiers in some cases) who handled cash directly. From automating cash withdrawal, we have come a long way. The Banking Sector is seeing a rapid digital transformation. Ask any major player in the industry and they will tell you that the future of banking is digital. With the world inching towards a techno-driven future, it’s only natural for the Banking Sector to embrace technology. What skills do you need to thrive in the BFSI Sector? The digital transformation of the BFSI sector is gradual but significant. Navigating a career in this ever-changing, ever-growing sector can be quite tricky, but the benefits are certain. Recognizing the need of the sector, B-Schools are introducing specialized courses in BFSI to prepare interested students for their careers.  Just this year, IMT Ghaziabad has introduced a PGD-BFS (Banking and Financial Services), which focuses on educating its students regarding the various areas of management related to Banking and Finance. In addition, it offers students introductory courses in Banking and Finance, as well as electives such as risk management, treasury, and forex management, macro-economic environment and economic policy, etc.  Unlike a conventional PGDM in Finance, the PGD-BFS is structured differently. Students are taught through simulations, as well as a course on Bloomberg Terminals with practical applications. At the end of every course, there are guest lectures and talks by experts from the industry, organized for the benefit of the students. All in all, the PGD-BFS aims at providing a holistic learning experience to students who are interested in making a career in the BFSI sector. What do you think? Do you have the relevant skills? Are you prepared to enter the BFSI sector? Leave your comments below. *This is a promoted feature   Have you read: How I Started A Career During Recession How I Got Into Mahindra and Goldman Sachs - Preet & Amber Alumni Report 2019 - Banking and Finance From No PPO To Google - Jai Prakash Sunkoori's Journey