India has a huge and diversified financial sector which is growing at a rapid pace. The finance sector in India comprises commercial banks, insurance companies, co-operatives, pension funds, non-banking financial companies, mutual funds and other smaller financial entities. Finance jobs in India are wide and varied. Each finance sectors require professionals with finance background, be it as an accountant, chartered accountant, chartered finance analyst, cost accountant or MBAs in Finance.
A graduate with Finance or Maths background with additional qualifications in any professional finance courses have great scope of career growth in finance jobs in the country. Besides your educational qualifications, a strong aptitude in Maths, an interest to keep up-to-date with the latest in finance sector and a strong analytical bent of mind are essential requirements to be successful in a finance career. So, if anyone is thinking of having a career in this field, it is better to know what suits him or her better. There are ample opportunities in the finance field, provided you know the finance functions in different sectors and what skills and expertise you possess.
Some of the most promising sectors for finance jobs in India
- Investment banking: India is a growing global outsourcing hub, where many top-level investment banks have their operations here. Investment bankers provide assistance to clients to raise capital to finance and grow their businesses. They are financial advisors who help to allocate financial capital to various uses. An MBA graduate with specialization in finance is highly suitable for this position.
- Financial planning and analysis: This sector involves tasks related to preparing external financial reports and managing reports for public filings, tax and regulators, overseeing the financial, accounting and regulatory reporting for the firm, maximizing efficiency of financial and capital resources and so on. Usually, a candidate with MBA finance background is suitable for these kinds of finance jobs. Some companies prefer to hire ICWA interns too for such roles.
- Product control: Finance jobs related to product control are another sector for prospective careers. Product Controllers are basically the financial guardians of a finance company or a bank’s sales and trading activities. An important segment in finance and accounting, product control involves preparing daily profit and loss statement of a specific asset class, preparation and development of Management Information (MI), testing of trading inventories and so on. A graduate with Maths or Finance background can apply for Product control finance jobs at the entry level and with experience, the candidate can reach the position of a product controller head.
- Corporate treasury and tax: This is also a promising division of the finance jobs. In fact corporate treasurers are financial risk managers who have the responsibility to protect an organization’s value from the financial risks it faces from all its operational activities. Corporate treasury and tax jobs involve providing finance advisory services to management and business units, including advices on cash management, tax arbitrage, firm’s liquidity and maintaining the capital base.
- Funds administration and funds accounting: Finance jobs are also available in funds administration and funds accounting. These are two separate but important divisions in the finance sector. Fund administrator helps in the process of running a collective investment scheme and providing accounting services for the investment fund. On the other hand, funds accountant work at the fund to supervise the book keeping, capital distributions, LP relations, facilitating the audit and tax service, valuation, pricing and financial reporting and so on. Candidates with a graduate degree with finance or any other analytical course work experience are recommended for finance jobs in administration and funds accounting.
- Investment research: Finance jobs in investment research are also very promising. Investment research job profile is analyzing companies with their business goals, helping clients on making the right investment decision of their capital to get the best return with minimum risk. Investment research finance jobs are available as Equity research analysts, Credit research analysts, Economics research analysts, Portfolio and Strategy research analysts, Commodities Research analysts and so on.
To sum up
The ever-growing finance industry in India offers ample jobs in different sectors, portfolios and roles. There are many opportunities in finance jobs not only in banking, financial services and insurance (BFSI) services but also in other sectors. Besides the core financial functions, there are finance and treasury, taxation, legal and compliance, and audit functions which provide finance jobs in India.