Banking and Finance is a field that with the study of financial services that include lending money, collection of deposits, issue of currencies and debit cards, and transaction processing, the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk.
Banking refers to that process in which a bank which is a commercial or government institution offers financial services that include lending money, collection of deposits, issue of currencies and debit cards, and transaction processing etc.
Finance is a field that deals with the study of investments. It includes the dynamics of assets and liabilities over time under conditions of different degrees of uncertainty and risk. Finance can also be defined as the science of money management. Finance aims to price assets based on their risk level and their expected rate of return.
Scope of Banking and Finance
Banking and Finance combines the study of modern economics with banking and finance. You will be introduced to a broad range of economic subjects including banking, financial intermediation, asset and liability management, financial decision making, financial markets and institutions, and accounting. This wide range of topics will give you an in-depth understanding of the way that organisations and financial systems work.
Banking and Finance also studies application of microeconomic and macroeconomic theory in financial contexts, for example the appraisal of competing investment opportunities – how to choose between investments which offer the same financial returns – and how government policy influences the stock market.
Skills and Competencies Needed To Excel in Finance World
- Excellent communications skills, both verbally and orally
- Good all-round IT skills
- Sensitivity and integrity yet assertive at the same time
- Analytical and logical approach to problem solving
- Commercial awareness and interest in your chosen field
- Ability to work on your own initiative
- Motivated and ambitious
- Math Skills. Bank tellers need strong math skills to count and handle large amounts of money
- Customer Service Skills
- Communications Skills
- Job Outlook.
- Innate problem-solver
- Analytical skills
- Exceptional leadership
- Adaptable communication
- Humble confidence
- Unwavering professionalism
Career Opportunities In Banking and Finance
Banking and Financial Services careers include a variety of banking and money management services such as saving, investing and retirement plans. Careers in banking and financial services range from customer service banking and sales positions, financial advisers and analyst positions. They typically work in commercial banks, mortgage companies, savings and loan establishments and credit unions. Government agencies and companies also require financial services professionals to manage their portfolios and statements
While some people may think of you as a miser, you know you're just admirers of money and understand its meaning. If you are one of those rare people who love the best use of money, then maybe jobs in the banking and financial sector is the right choice for you.
Some jobs / role you can do as a graduate of Banking and Finance
- Personal financial advisor
- Financial Analyst
- Bank Teller
- Finance Controller
- Financial Bookkeeper
- Loan Officer
- Budget Analyst
- Financial Analyst
- Finance Manager
- Financial Broker
- Financial Dealer
- Financial Investment Adviser and Manager
- Investment Adviser
- Manager (Finance)
- Managing Director
- Chief Finance Officer
- Company Secretary
- Credit and Loan Officer
- Dealer (Financial)
- Debt Collector
- Bank Manager
- Bank Worker
- Branch Manager (Financial Services)
- Broker (Financial)
Admission Requirements for Studying Banking and Finance in Nigeria
For most high institutions in Nigeria, to study Banking and Finance as a course, you need to meet specific academic requirements. Candidates seeking admission through the Jamb are required to have five credit level passes in the Senior Secondary Certificate Examination (S.S.C.E.) or its equivalent. These should include English Language, Mathematics,Accounting,Commerce and Economics.
In UTME, please note that English Language is Compulsory for this course. Therefore, the three (3) other JAMB UTME subject combination needed to study Banking and Finance (Admin) under the Faculty of Administration in the above Universities include;
» Mathematics, Economics, plus one of Government and Economics.