Banking

Subject Description

In the 21^st century, a bank is not just somewhere to pay in and draw out your money. They are multi-national companies that turnover vast sums of money and offer more than just a current account where your money sits until you need or want it. It is thought that collectively, the 1000 largest banks in the world have assets of more than $64 trillion. Historically, financial transactions were made across a table covered with a green cloth by the Florentines during the Renaissance period. This was later followed by banks lending to traders to buy new stock and then the traders were responsible for paying it back to the bank with interest once the goods had sold. Things have moved on somewhat since these days.

Today, many banks are commercial institutions that provide many financial services such as current and savings accounts, mortgages, credit cards, loans, insurance and investment opportunities. We can move money about without leaving the sofa with the advent of internet banking. They are also very powerful and have the ability to influence the economy and vice-versa. Other banks such as central banks regulate the interest rate, and investment banks guarantee the sales of bonds, stocks and shares.

However, it is not just those that use banks that are susceptible to risk. We have recently seen the banks struggle and need government money to continue to run. We have also sent he first results of a test court-case to see whether or not charging for going overdrawn without permission is legal. Many see banks as greedy and existing just to make a vast profit, and this has led to more ethically-conscious banks promising only to invest in ethically-sound and socially responsible businesses. The banks are also up against competition from the supermarkets who now offer loans, mortgages, credit cards and insurance packages. To coincide with a fast-changing industry, there are a number of courses on offer for those wishing to study and work in this challenging area.

Example areas of study

The modules which you may study vary between the number of courses in banking and related financial areas that are available. It is advisable to check with the institutions themselves as to the nature of the courses they offer before submitting your application, and the list below will give you an idea of the areas that you may be able to study:

• Accounting
• Economics and economic theory
• Corporate financial management
• Organisational theory
• Principles of banking
• Commercial lending
• International lending
• Financial statement analysis
• Financial institutions
• Comparative banking
• Business law
• Financial intermediation
• Asset and liability management
• The Stock Market
• International financial markets
• Investment management
• Banking operations and risk analysis
• Insurance
• Financial services law
• Macroeconomics
• Microeconomics
• Information technology for business
• Quantitative financial modelling
• Trade theory and policy
• Bank strategy and management
• Forecasting
• Languages for business and the financial industry
• Business analysis
• Corporate treasury management
• Credit analysis
• European banking and finance
• The US and Japanese economies

Some career possibilities

As a graduate with a qualification in banking you may wish to purse a career  in areas such as accountancy, banking, investments, insurance or risk management. Other areas open to you may include marketing, retail, management and consultancy or human resources. The banking industry is a rapidly-changing environment and career opportunities change with them.

What do I need to get on a course?

Entry requirements vary between institutions so it is best to check with them before submitting your application. The list below will give you an idea of the qualifications and grades that you may be expected to have:

• UCAS Tariff: 240-320 points, mathematics may be required
• A-levels: CCC-AAB, mathematics may be required
• SQA Highers: AABBB, mathematics may be required
• SQA Advanced Highers: BBB, mathematics may be required
• Irish Leaving Certificates: AABBB, mathematics may be required
• International Baccalaureate: 28-32 points, mathematics at Higher level may be required
• European Baccalaureate: 70-75%, mathematics may be required
• BTEC National Diploma: DDM-DDD in a relevant subjects

For your application or interview the following may be useful:

• A good knowledge of the financial services industry
• Further information can be found at The Institute of Financial Services

To find out more about the typical subjects you will study, potential career paths and further information useful for your application log-on to Course Discover at www.coursediscoveronline.co.uk*

*NB: Your school or college will need a subscription to Course Discover in order for you to gain access, for further information go to:www.coursediscover.co.uk