Working in the banking industry can be both rewarding and lucrative. While many people think of banking primarily as a field for finance professionals, accountants also have a lot to offer it, given their strong understanding of financial principles and expertise in compliance and bookkeeping.
Accountants fulfil important roles, from compliance officers and investment analysts to loan officers and financial advisors. With the right qualifications and experience, you can, as an accountant, find the perfect job in the banking sector to fit your skills and interests, expand your knowledge and experience, and lead to even more rewarding career opportunities.
IN THIS ARTICLE:
- What you need alongside accounting science qualifications
- Accounting science job choices in banking
- The generous benefits in banking
- Challenges you may face working in banking
- How a Regenesys Bachelor of Accounting Science will prepare you
What you need alongside accounting science qualifications
While there are many opportunities for accountants to work in banking, some roles require specific qualifications, experience, or both. If you’re interested in working as a compliance officer in banking, for example, you’ll need to have experience as a compliance officer in another industry, such as auditing, accounting, or insurance, as well as accounting science qualifications.
To work as an investment analyst in banking, you’ll need at least three years’ experience as an analyst in finance or accounting. Some investment analyst roles may require a doctorate in economics, statistics, or business.
If you’re interested in working as a loan officer, you’ll need at least three years of experience in banking.
Accounting science job choices in banking
You might choose to work in retail banking, investment banking, or commercial banking. Within these areas, you can work in corporate banking, retail banking, or both. Corporate banking deals with lending and investment, while retail banking deals with lending to individuals and businesses. These areas also need compliance officers, risk managers, auditors, investment analysts, and financial advisors – all suitable jobs for anyone trained as an accountant.
The generous benefits in banking
The banking sector generally offers a host of benefits – competitive salaries, excellent health benefits, generous leave, cheap loans, and a wide variety of career paths and opportunities to advance. Some banks provide training and mentoring programs for employees, particularly for those identified as having the potential to fulfil senior roles through succession planning initiatives.
It’s an excellent environment for accountants to apply their knowledge and expertise – whether in finance, technology, or operations – to make a real difference in people’s lives. The environment is also conducive to building networks you can use to expand your career and achieve new goals.
Challenges you may face working in banking
Banking also comes with some unique challenges. It’s a high-pressure industry, which means that accountants face stressful situations as part of their daily work. It can also require long hours and frequent travel between branches. And strict compliance with regulations and procedures may be challenging for anyone who prefers a more flexible or creative work environment.
How a Regenesys Bachelor of Accounting Science will prepare you
Regenesys Business School’s three-year Bachelor of Accounting Science provides comprehensive knowledge of accounting, finance, taxation, management, and international accounting regulations.
At Regenesys, we’ll prepare you for the rigour of a career in banking, helping you enhance your management and leadership potential, build the resilience you need to handle the pressure of the industry, and inspiring and transforming how you think as you develop the knowledge, skills, positive values, attitudes, and behaviour you need to succeed. You will be taught by business experts, entrepreneurs, and academics driven by their passion for human development, honing your critical and analytical abilities.
Regenesys Graduate Attributes
Banking provides many opportunities for accountants to apply their skills in banking. Many banks also value the expertise and experience accountants bring to the table, and are open to hiring accountants, even if they don’t have experience in banking. With the right qualifications and experience, you can find the perfect job in the banking sector.
