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How to Start a Career in Banking

Posted on by Imarticus Learning

The finance and banking industry employs a wide range of professionals from brokers, including individual, business, and Investment financiers. While the parts and obligations of these brokers may vary, they all must administer the monetary needs of their customers. Individual brokers may work one-on-one with customers opening private company accounts and administering budgetary exchanges, for example, sending cash requests and dealing with stress.
Business investors prepare advances to planned business people, while venturing brokers, associate lenders with conceivable speculation openings. Additional time and travel are regularly required in these employments, particularly for venture brokers. By and large, financiers spend many work hours sitting at a work area. Payscale.com detailed a mean yearly pay of $35,226 for individual investors in January 2016.
Despite the fact that degrees in speculations and managing an account might be hard to discover, many projects have specialisations in these territories as a major aspect of different projects. Back, bookkeeping and business are the doubtless decisions, however, speculation firms and banks may likewise be satisfied to see degrees in financial matters, arithmetic or designing. Notwithstanding the program name, what employing boards truly need to see is that you’re great with numbers, and each of these degrees requests that of their graduates.
While in school, understudies ought to start sharpening the abilities they’ll be effective speculation brokers. Honing introductions, acquainting yourself with Microsoft PowerPoint and Excel, figuring out how to talk about numbers in a legitimate yet open way, and interfacing with a wide range of sorts, of individuals, are only a couple of the approaches to fabricate auxiliary aptitudes while likewise diving into coursework.
A banking entry level position might be a piece of a degree program or an open door an understudy seeks after amid the mid-year. Taking an interest in a temporary position gives imminent financiers involvement in the field and a comprehension of keeping money arrangements and controls. Furthermore, a temporary position may assist acquaint them with the obligations they’ll have once they start work. Entry level positions are likewise a route for people to start making associations in the exchange and systems administration for planned work openings.

Consider managing an accounted speciality. When investigating conceivable temporary positions, consider the distinctive sorts of investment banking and finance options as claims to fame. For instance, if you are inspired by venture banking, then apply for an entry level position with a speculation bank, which might be situated in a noteworthy metropolitan region.
Banks offer Investment Banking certification preparing programs that will plan people to find out about the procedures required in making ventures and working with customers. Those enlisted in the program are acquainted with business works with, saving money administrations, and customer relations. So as to start finding out about these practices, banks furnish people with contextual investigations, introductions, and displaying sessions.
So when you are looking to start a career in banking, it is always better to look up for certification training programs like these.  Imarticus Learning offers a number of certification programs in finance and banking which would be of interest to you.

Life Hacks for an Investment Banker

Posted on by Imarticus Learning

Investment banking is synonymous with big pay cheques and long working hours. As soon as you start your career in it, you will realise that you are being stretched in all directions, with no time for family or friends or personal tasks. Most veterans in investment banking express that they feel they are always short-changing something or someone throughout. It is always a race against time.
Having said that, the same veterans, to survive the mad rush, have come up with some coping mechanisms that help them balance their day, ensuring that they touch all spectrums of tasks, personal, professional etc…,
Listed below are some lifestyle hacks in personal and professional capacity, that will help you get joy, out of the most tasking regimes and demands, faced at a professional level by investment bankers.

  1. Get a solid support system, and outsource as many tasks as you can without guilt, for example, use laundry and iron services from professionals, rather than expecting your spouse or you to do it over weekends, or if you higher up the ladder, an assistant at work or a junior can be used for delegation of tasks.
  2. Do not intentionally drive around to work, it will only add to the frustration of daily tasks, use Uber, or hire a driver, given the traffic and road conditions, you will feel blessed with the extra time you get to concentrate on tasks before reaching work.
  3. Better still, stay closer to work, even if the rent is higher it will save you loads of time invested in travel.
  4. Invest in good housekeeping, you will have enough deadlines and last minute reports to work on, getting groceries and cleaning your house will always take a backseat. A good help at home will rejuvenate you to face the challenges of the days to come.
  5. Walk as much as you can, you will need the exercise with time if you have to visit a client, see if you can take the trains or metro, walk, let the fresh air clear your thoughts.
  6. If you insist on holding on to your car, break the routine, on some day’s drive, listen to music, choose non-traffic hours to get that fresh rush of adventure on the way to work, it will clear any jarred thoughts from the previous day.
  7. Keep in touch with friends from the same industry, someone who can understand your challenges and limitations.
  8. If possible, choose a partner who understands the demands of your work life, possibly someone who themselves don’t have very demanding schedules, or else matching up with each other will be a life long struggle.
  9. Find solitude with yourself, keep a reality check, know the demands of your job.
  10. Travel, even if it is in your hometown from time to time, short trips, and do them alone, to stay in touch with yourself.
  11. Exercise, regularly or whenever you can, simple yoga asana, help you maintain the equilibrium.
  12. Expectation Management, be prepared that your life over the next few years will be demanding, the good news is that the body adjusts to the demand effectively with time. So, until then know your outlet to cope with the demand, be it swimming, writing, sleeping, indulge in it, drift away from work a little while.
  13. Eat well, small regular meals, will keep your system running, you will have to work long hours, prepare for that, tea or coffee whatever keeps you going, do hydrate yourself. Avoid drinking (at least on working days J)
  14. Be pleasant to people at work.
  15. Find your sweet spot, associate with a firm that does the kind of business you enjoy.
  16. Stay sane, have a sense of humour, enjoy the kind of work you have chosen, don’t take yourself too seriously.
  17. Be a good listener, you will be surrounded by intelligent and bright people, learn quick, be smart and rise up the ladder soon, there is breathing space up there.
  18. Learn from every experience, learn not only from success but also from mistakes.
  19. Take regular naps, quality of sleep is important not the quantity.
  20. Learn how to improve your performance in everything, automate repetitive jobs, will save you some time.

Also Read: How to Become an Investment Banker

 

Core Investment Banking Activities That Can Help an Organization to Grow

Posted on by Imarticus Learning

Investment banks, in the true sense, are financial intercessors, amongst people who need funds and people who can provide funds. They ensure that there is a flow of cash and distribution of capital. In a simple example, they are the bridge that brings together, those who need money to invest in businesses, like factories with equipment demands, with those, who have the money to invest, all the while, forming the markets which allow capital and controls price for these monetary trades.

Over time these financial intermediaries have evolved and have gotten more complex and competitive. And hence have started offering many supplementary amenities.
Investment Banks essentially have two lines of activities.

  • Sell Side – here securities are traded not only for cash but at times for other securities like for example, in facilitating transactions.
  • Buy Side – this is the advising lateral, where to advise on entities like, Private Equity Fund, Mutual Funds, Hedge Funds, is given to establishments that are concerned with buying investment services.

Core activities of Investment Banking can be better explained in three major divisions.
Front Office, the Middle Office and the Back Office.
Front Office, is generally known as the revenue generating unit, this is where most of Investment Banking contracts take place. It offers many services, namely assisting firms in Mergers and Acquisitions, Corporate Finance I.e. managing fund requirements for daily operations. It also offers Professional Investment Management for establishments. For certain high net worth clientele, preparing Market Research Reports, around Strategy Management and Wealth Distribution and Risk Reports. And lastly, it also involved in Sales and Trading activities for their clientele.
Middle Office, includes functions of Compliance with government regulations and restrictions for professional clients like the banks and financial divisions etc…,
It also manages Capital Flow, basically, the function is to monitor the flow of cash in and out from an establishment, to ensure required liquidity for it to function, without getting into any financial difficulties.
Back Office, it is the glue that holds the investment bank together. It primarily manages the Operations and Technology, for things such as Trade Confirmations, safeguarding that the securities bought are correct, sold and settled for the right amount. To ensure the software and technology platforms are efficient, at times creating relevant trading algorithms, so that traders can function effortlessly.
Investment Banking is significant for corporates as they need to raise capital. By taking the above-mentioned functions into reflection, the area of opportunity for investment banking is huge. Therefore, to stay updated, financial handlers should take stock of the development around them, so that they can adapt and take advantage of the offerings.

Related Blogs:

https://imarticus.org/blog/whats-next-in-banking-and-finance-all-about-new-age-banking/

https://imarticus.org/blog/does-corporate-finance-excite-you-here-are-some-investment-banking-courses-which-will-help-you-achieve-your-goals/

How Retail Banking is Affecting the Industry

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Retail banks offer financial services for businesses and individuals alike. Essentially, they provide, banking products and services to individual customers, for entrepreneurial and non-entrepreneurial purposes. Banking significantly has always been on the ‘retail’ side I.e. they raise income from large sources such as retail depositors. So while talking about retail banking, the focus is mostly on the asset side, which means lending to the retail side.
On the whole, retail banking is offering products and services that impact both sides of the balance sheet. On the Liability side, it offers, fixed, current, saving accounts, and on the asset side, it offers mortgages and loans, such as personal, housing, automobile, educational etc…,
It is circumstantial to note, that most economies in the developing countries are now seasoned enough to ask for products and services not only during the transitional phases but also during maturing phases as well. For the same reason, it is observed that retail banking is implementing all products and services to match the current needs and the future demands of the growing economies.

Typically, the retail banks, on the asset side, offer financial services to the clients. Their clients are majorly divided into ‘mass’ and ‘class’ clientele. For the mass clientele, these banks offer blanket services that mostly cover their needs in term of consumer credits, for example, home loans mortgages, credit cards. By doing this the banks generate extra liquidity that assists the economy. For the class clientele, which is defined as niche customers, these banks customise their products and services to match the high net worth. This can also be termed as private banking, adding to the liquidity pool.
The availability of cash through easy credit methods by the retail banks, allows people to spend their future earnings today, directly impacting consumption of products and development of industries, leading to developing economies.
Now on the Liability end, retail banks offer a secured place, for people to park their existing funds, safely in the form of saving/current accounts, fixed deposits, other financial products, which get them higher returns, than parking the money under the pillow would. The interest rate, which is used as an apparatus to maintain monetary liquidity in the economy is set by the RBI. And you will see a slight fluctuation in the rates from time to time.
Lastly, Retail Banks allow you to manage your transactions fluently, and conveniently through debit cards and online transactions virtually without actually exchanging cash.
Now, since we understand the contours of retail banking, let’s understand how do they work, well, it is very simple, they make money by loaning the deposited cash on higher interest rates, than what they offer on deposits.

How do they affect the industries and subsequently the economies?

They are a supply tool for finance in any economy, the regulations permit them to have a minimum percentage of deposits on hand, and hence they have the flexibility to loan out the remaining amount. Creating a flow of money lent, from one source, going into the borrower’s account. That is how they create a deposit rate. Now visualise, what a powerful tool this is for any growing economy.
The retail banking space is a welcome retreat in the middle of all turbulence caused by global financial demands, which people struggle to deal with every day. Customer deposits, gathered by retail banking become a central source of steady funds for many banks. In this endeavour it becomes important for banks to continue introducing innovative frontiers in the space of retail banking, to maintain relevance to the customers. Banks can achieve this through an essential bond that it can create, with the customers by understanding and connect with their needs and preferences.

Read More:
How Does Private Banking Differ From Retail Banking
Careers in Retail Banking and Wealth Management

How to Keep up with The Changing Needs of Customers in Investment Banking

Posted on by Imarticus Learning

Investment banking is a division within the bank, which focuses on capital creation for other organisations. Holding the responsibility to underwrite new debt and equity securities, facilitating mergers and acquisitions, and also brokering trades for companies or private sectors. Investment banking also offers guidance to issuers regarding placement of stocks.
The common services and approach adopted by investment banking in the past, might not be amongst its best features today. Now is the time of not only adapting to change but creating the change. Business, as usual, might not be enough, hence with time, one can see the shift in the approach of investment banking. To create new capabilities, the banking sector is looking outside the box, it is looking at ways the ecosystem can be enhanced, so they are considering expansion in digital technologies, which can, in turn, open avenues and create utilities.
According to data collected through various research, to keep up with the evolution of financial services landscape, to be successful, banks will be forced to change the way they perceive themselves and their clients and will need to evolve their approach with the fundamental realisation to Simplify, Digitise and Innovate themselves.
Simplify so that cost can be managed and clients have a hassle free interface, basically offering convenience.
Digitise, well that is the need of the hour. For smoother internal and external customer interaction and retention.
And lastly Innovate, any system that has stood the test of time over years has done that only for its ability to adapt, however, if an industry is capable of bringing about the change, it can guarantee success and immortality. With the options that are present today, excessive availability to data, advanced research function, distributed ledger technology, with the accelerated speed at which the world is changing, investment banking needs to ground its existence by coming around it with flexibility and gumption.
There are many disruptors in this path and banks will have to tailor and channel pioneering products with innovative strategies to combat the same.
Some philosophies will need to be realigned……
The way profitability was perceived might need to be relooked, as the financial landscape continues to grow, banks will have to shift focus from margin driven products and profitability to volumes driven profitability.
The traditional components of diversified portfolios will need structured products so that it can offer tailored coverage to otherwise tough to acquire asset classes and subclasses. For the modest level of investment banks, this territory of structured by-products will become essential.
A confluence of disruptors is Blockchain, which will force the financial services transaction to digitise and securely distribute.
One can see timely intervention from the use of independent pricing vendors by a financial institution, to control competition, and create a sense of transparency and calm in transactions.
Banks will need to play to win, by creating the talent which can adapt to the digital upspring in operations and other critical customer dependent and focused departments.
It’s time to realign strategies keeping up with the changing ecosystem with the approach towards utilities. It is predicted that the year 2017-2018 will be the year of transition for investment banks.

Technology and Deal Making – Robot investment banker?

Posted on by Imarticus Learning

If there was one part of Investment Banking that hasn’t changed since Barbarians at the Gate was written is Corporate Finance Advisory. Go into any M&A or Equity Capital Markets advisory office and, apart from the increase in Reuters and Bloomberg terminals, not much has changed. Pitches are often still on that dreaded power point and called the ‘deck’. The ‘deck’ as we know it also hasn’t changed focusing on showcasing skill followed by analysis of Industry and then company leading to the proposal or pitch. The IM, or information memorandum, hasn’t changed and financial modeling for all practical purposes still runs into a million sheets that some poor analyst has given up every weekend for; using macros is considered being technologically advanced. So when news came out that a team of programmers had descended on wall street’s most uptight offices- Goldman Sachs, analysts began to shift around in their leather chairs with a certain amount of unease. Technology usually means someone is going to be replaced by a machine.
A team of 75 programmers, internally referred to as “strats”, have begun developing been developing technology that hopes to make deal making more productive. These strats are now part of equity underwriting and leveraged buyouts teams. They are analyzing client data to understand how firms can offer better advice. What advice has worked and what hasn’t; algorithms that could possibly evaluate a book building process to glean why some offerings do better than others when everything else holds equal. But how can automation do deals? Isn’t deal making about relationships? Endless rounds of golf and board room relationships? The current management speak is trying to reassure bankers that technology will only take out the grunt work. But junior bankers know what happened when technology hit trading.
Another cause for concern is whether the criteria to become an investment banker is going to be affected as well. Will bulge brackets now look to MIT instead of Harvard and Wharton? What does that mean for twenty-something-year-olds who just finished an expensive MBA and need to pay off a gigantic loan? Will a tech geek take their job?
It is believed that technology is going to lead to a 10 percent reduction in Investment Banking staff over the next few years. Kognetics, a software company that uses artificial intelligence to assist deal makers say that almost a quarter of routine Investment Banking activity can be automated. ‘Sellside’, an application developed by ‘strats’ for Goldman that compiles deal information, is already making some analysts uneasy. But I think it’s quite some time away before an algorithm can decide which two companies should merge. But going by the failure rate of mergers these days, perhaps an algorithm might have better luck.

Written by Reshma Krishnan, Imarticus Faculty

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Trends are Bound to Influence Investment Banking This Year

Posted on by Imarticus Learning

In The News

The last six months of the year 2016, were telling of the fact that things would be positively looking up for the field of Investment Banking. It was believed that this change would be led by most of the US banks as a majority of FICC revenues would begin to be recovered. While there are many experts waving the pessimistic flags, especially of the decline of the
Investment Banking owing to all the modern regulatory burdens and digital disruption. In spite of this, a majority of us are of the belief that optimism should be the word of the day. While it is truly considered that the entire industry would have to revamp itself, but it is also true that the Industry has been historically very successful at this.
Many have begun to realize the importance of some clear and innovative line of thinking and the need for new and correct business models. These business models are held as the key factors for ensuring future success, which is why the implementation of these needs to happen real quickly. Experts seem to have identified a few important trends, which would be acting as themes that Investment banking as a field would likely focus on in 2017. There will be a lot of profitability in store for banks, mainly as a result of the FICC business driving revenues that was out of fashion previously. We have all seen and read about all the significant cuts that have taken place and there are more such to come. Offshoring is one trend that is on the rise again as many top Investment Banks are relying on nearshore and offshore teams, in order to deliver the complex functions.
The cost and income ratios are going to undergo serious improvements in the year 2017 and things are looking really up for the US banks, especially after the tough year they seem to have had. Organizations will be seen focusing on eliminating their weaknesses and focusing on improving their strengths. In trying to survive in the competition, there will be many seemingly hard decisions that banks will be expected to make. Misplaced regulation is bound to act as a drag on the global economy and is likely to cause a real impact of structural reforms and regulation designed to improve transparency. Unlike the earlier days, developing the traits of patience will be a key factor in the future. Being the early bird will not pay, as much as waiting for the guidelines would be helpful, in evolvement and learning of lessons.
More and more banks are likely to focus on client strategies and will develop their servicing strategies towards a smaller universe of clients. There will be a lot of encouragement in terms of scientific approach when it comes to customer service and feedback on behalf of the banks. There are very strong chances of the CRM technology to be made more user-friendly as well.

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Investment Banking Soon to be Taken Over by Artificial Intelligence

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Investment Banking Soon to be Taken Over by Artificial Intelligence

Every finance aspirant, at one point or another, envisioned themselves as one among the many professionals in crisp suits and black pencil skirts, walking along the hallowed hallways banks like Morgan Stanley. While some individuals choose the more tried and tested route to achieve this aspiration, like pursuing their MBA, there are many others who make use of new and innovative ways to achieve their ambition. These ways include pursuing of intensive professional training courses, which are becoming popular by the day. Courses offered by Imarticus Learning are gradually becoming the go-to courses, chosen by those especially who wish to become Investment Bankers.
One of the most exciting areas of work, in the field of Investment Banking, is working in the front office. This area is usually what most of the exciting Investment Banking movies revolve around and it’s here that the real game is played. The ‘front office’ is divided into Sales and Trading, Corporate Finance and Research. It may be seen that the recent times have been experiencing a great amount of technological change in these three sub-fields of Investment Banking. Artificial Intelligence and business process automation are two of the many analytics technologies, with the help of which these three fields are attempted to be deconstructed.
Let’s begin with Sales and Trading, roles in this sphere are popularly known as the alpha roles in Investment Banking. The professionals working on these positions were considered to be the leaders of the wolf pack and they were very capable of getting away with just about anything. This has changed as the ‘nerds’ have steadily begun to replace them. This shift is the result of technology specifically, computer engineers taking up the positions. Goldman Sachs reportedly had over 30% of computer engineers as their traders. Recently another big gun, JP Morgan hired their Global Head of Machine Learning from Microsoft. What is surprising about this recruitment, is that the professional has absolutely no background in finance whatsoever.
When it comes to Investment Banks, a huge chunk of their work is carried on by the Mergers and Acquisitions Departments and the IPOs. It is common knowledge that artificial intelligence has already begun to make its presence felt in the field of accounting. Similarly, Corporate Finance is not being left behind as there are a number of well-paid analysts, managing the sweaty work for their Managing Directors. The field of IPOs is also being transformed, much similarly to what the CFO of Goldman Sachs has to say. He says, “Goldman Sachs has already mapped 146 distinct steps taken in IPOs offering stock and most of them are begging to be automated”. It won’t be long before stock market is made up of all the secondary markets created by FinTech companies.
Anyone who is a finance aspirant would be expected to know the difference between ‘active funds’ and ‘passive funds’. The million dollar ideas of all of those Portfolio Managers who build active products come from paid research teams at various Investment Banks. In the recent times, this basic financial commentary is speedily automated. With technologies like the blockchain technology and banks teaming up with software companies, it seems that the entire banking sector is set to undergo an overhaul, courtesy of AI and Data Science.

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The Importance of Trade Finance

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What is Trade Finance? This concept basically revolves around products and services, which are used for ensuring two things. One, that the exporter is paid his dues and the other, that the importer gets the delivery. Distributive trade, one which involves a buyer and seller is usually the one which is involved with the concept of trade finance. One of the reasons for the introduction of trade finance could be the fact that, today’s world is a more connected one and with more connections comes a great amount of financial uncertainty. In such a volatile world, it always serves better to protect oneself against any kind of commercial or political risks.
Trade Finance at its essence, has been existed for thousands of years and it can very well be traced back to the times earlier days, of Silk route. It existed since long ago, from before the times that economic imperialism came into being and England set out to make its colonies. As surprising as it may be to believe, but it existed well before the stock markets came into being. Cut to the present times, where this is a tremendously thriving, multi billion dollar business. This may be a result of the fact that the world has begun to trade on a greater scale, everyday sees more and more commodities being bought and sold in the markets. This results into more and more banks and companies having to lend money, in order to keep the steady flow of the global supply chain.
So now that we know what trade finance is all about, let’s focus on how and why is it so important. Let’s take an example. Imagine yourself to be a coffee trader in today’s times and where else would you find the best in class coffee beans, but in Africa. But, you stay in India, so then how would be able to function as an International buyer? More importantly who will give you money, in order to purchase from the natives in Africa? How will you be able to finance all of your transactions, in another currency in addition to being able to successfully pay all those native traders? The answer to all of these above questions would be a trade finance department. This department of a financing firm would deal with all your financial transactions and thus would ensure the development of your business.
Any good or service at the very basic level, have their own underlying value and a bank is very well able to offer a loan against the collateral value of the good. The bank would be comfortable with offering you financial help, as long as the structure of the deal would be helpful and advantageous to the bank. As a whole, the business of trade finance is not very complicated, but on the other hand the structures which form an essential part of trade finance usually tend to be a bit more complex.

How Are Investment Banks Able To Contribute To The Economy

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Investment banks are generally very popular for two very broad roles. Firstly, they are supposed to carry forward the roles required for the smooth functioning, of the financial markets and secondly, they are the sole conductors of trading. Investment banks perform the most critical functions as they cater to the present and future, financial consumption needs across various corporations and firms. As a seasoned finance aspirant, with a minimal experience, would know, these banks differ greatly from commercial banks. The primary goal of commercial banks is service to private individuals, while on the other hand, the investment banks primarily serve various governmental and private organizations.
Today, almost all the economies, are mixed economies on a certain level and as a result of this, depend predominantly on investment banks, so as to raise their funds. One of the major contribution of any investment bank to the economy is, what is known as ‘adding liquidity to the market’, this is basically done by matching potential investors with the potential sellers of stocks. Basically, it is these banks which are supposed to perform as the epicenter, of all functions especially when it comes to the advancement of a company, in financial terms. Those investment bankers, who facilitate in bringing about similar changes, are then given the status of being intermediaries or middlemen, in the more lay man context. The path breaking difference that these banks make, is that they are able to perfectly match those ready to provide investments, with those in search of investments. This then contributes to the growth of businesses and in turn boosts the progress of the economy.

Another way that these banks contribute to the expansion of an economy, is through estimating the current market rates. This is accomplished by collaborations with the commercial banks, earlier these two banks were supposed to be independent of each other. Today, the scenario has drastically changed with commercial banks and investment banks, carry on their functions under the same roof. It is important to be noted, that it was only the country of USA, which had successfully and legally separated the functions of the two banks once.
Today, although the functions of both these banks are technically independent of each other, but it is an established fact, that these interest rates, would definitely influence each other. The field of corporate finance has always had a certain allure for anyone, who has ever belonged to the world of finance. With those influencing stock exchanges, sophistication of all the top banks, as well as all the handsome rewards, that are offered to almost everyone in this field. These and many others are reasons as to why, sterling careers in the field of corporate finance are practically sought after by almost everyone, belonging to the same background. But at the same time, as the competition is high, it requires for an individual to have an edge over their contemporaries. This is why there has been quite a lot of demand for certification programs like diploma in corporate finance or specialization in investment banking and its other branches provided by Imarticus Learning – Professional Investment banking and finance training institute.