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Important concepts to learn during an MBA in BFSI

Admin | August 13, 2022

A career in the banking, financial services, and insurance (BFSI) sector can be immensely rewarding. This sector offers huge opportunities for growth and advancement, and the work can be both challenging and exciting. For those considering a career in this field, an MBA in BFSI can be an excellent way to gain the skills and knowledge needed to succeed. An MBA in BFSI covers a wide range of topics, from finance and accounting to risk management and insurance. As a result, students who complete this programme will be well-prepared for a variety of roles within the BFSI sector. In addition, an MBA in BFSI can help students to develop essential soft skills, such as team-building, leadership, and communication. These skills will be invaluable in any career, but they are especially important in the fast-paced and ever-changing world of BFSI.

A few important concepts you’ll learn during your studies are: Asset management is a key concept that all MBA students in the BFSI specialisation must master. It includes understanding how to effectively manage different types of assets, such as stocks, bonds, and real estate. You’ll also learn about risk management and how to minimise the potential for losses. In addition, you’ll gain an understanding of financial analysis and financial modelling, which will be essential in making investment decisions. With a comprehensive understanding of these concepts, you’ll be well-prepared for a successful career in the financial services industry. Read along to understand in-depth the subjects taught in an MBA in BFSI programme, the core concepts you need to master and the career options you can choose after completing the programme.

Which subjects are taught during an MBA in BFSI?

The MBA in BFSI course is designed to meet the increasing demand for professional management in the banking, financial services and insurance sector. The course covers a wide range of subjects, including economics, finance, accounting, marketing and management. In addition, students are also required to complete a project on a topic related to the banking and financial services sector. Admission to the course is generally based on the candidate’s performance in an entrance test such as the CAT or GMAT.

The MBA in BFSI is a 2-year full-time postgraduate course; the minimum eligibility to enrol in the course is a bachelor’s degree in any field from a recognised university. The syllabus of the MBA BFSI programme is divided into 4 semesters spread over 2 years, with each semester focusing on different aspects of the banking and financial services industry. Some of the banking and finance subjects covered in the MBA BFSI syllabus are:

  • Financial Markets and Institutions
  • Banking Management
  • Principles of Insurance
  • Risk Management
  • Investment Analysis and Portfolio Management
  • Financial Planning and Wealth Management
  • Tax Planning and Estate Planning
  • Retirement Planning and Employee Benefits. 

Among the various subjects covered in the MBA BFSI syllabus, the important ones include macroeconomics, microeconomics, commercial banking, insurance, risk management, financial markets and institutions, investment analysis and portfolio management. In addition, students are also exposed to topics such as corporate governance, taxation and the regulatory environment. 

MBA in BFSI is a specialised course designed to meet the ever-growing demand for skilled professionals in the banking and financial services industry. Upon successfully completing the course, students can find employment in various positions such as bank managers, investment bankers, insurance analysts, etc. The MBA in BFSI course aims to provide students with a comprehensive understanding of the functioning of the banking and financial services sector. After successful completion of the course, students can find employment opportunities in banks, insurance companies, asset management firms and other financial institutions.

Topics one must master for a successful career in BFSI

If you’re looking for a successful career in the Banking, Financial Services and Insurance (BFSI) sector, there are a few key topics you’ll need to master. 

Firstly, it’s essential that you have a strong understanding of financial accounting and reporting. It will enable you to effectively manage the finances of your company or clients. 

Secondly, you’ll need to be well-versed in risk management, as this is a key area of responsibility for those working in BFSI. 

Finally, it’s also important to have excellent communication and relationship-building skills, as much of the work in this sector involves communicating with clients and others in the industry. If you can master these topics, you’ll be well on your way to a successful career in the BFSI sector.

Given below is the list of some of the important concepts you would need to master for a successful career in the BFSI sector.

Finance risk management

A career in BFSI (Banking, Financial Services and Insurance) can be very rewarding. It offers the opportunity to work with some of the biggest names in the industry and to be at the forefront of economic change. However, it is also a highly competitive field and those who want to succeed need to be able to master a number of different topics; one of the most important concepts among these is finance risk management. Risk management is all about identifying, assessing and mitigating risks. It is an essential skill for anyone working in the financial sector, as it can help to protect both banks and investors from losses. Those who want to make a successful career in BFSI need to be able to identify risks, assess their impact and develop strategies for mitigating them. With a strong understanding of risk management, individuals interested in the domain will be well-positioned to build a successful career in this exciting industry.

Managerial economics

A career in the BFSI sector is one of the most sought-after career options these days. The reason is the mammoth growth of this industry in India. To have a successful career in the BFSI sector, one must have sound knowledge of various subjects like Managerial Economics. Managerial Economics is a subject that deals with the application of economic concepts and principles to real-world business scenarios. It helps managers make better decisions by understanding how economic factors impact business operations. Some key topics covered in managerial economics are demand analysis, supply and demand curves, pricing strategies, market structures, game theory, etc. A strong understanding of these concepts is essential for individuals aspiring to build a career in the BFSI sector. So if you want to make a career in this industry, ensure you have a firm grip on Managerial Economics.

Banking and insurance marketing

Marketing in the banking and insurance sector has undergone a sea of change in the past decade. With the advent of technology, BFSI marketing strategies have emerged as a dynamic and complex concept. To succeed in banking and insurance marketing, one must be well-versed in topics such as digital marketing, customer experience, data analytics, and product management. One must understand certain topics to master the concept of banking and insurance marketing. 

  • Firstly, an understanding of the banking sector is necessary. It includes an overall understanding of the various types of banks, their functions, and the products they offer. 
  • Secondly, one must have strong knowledge of financial products and services. It includes an understanding of how different financial products work, as well as the risks and benefits associated with them. 
  • Thirdly, one must be able to effectively market banking and insurance products to potential customers. It involves creating compelling sales pitches and developing marketing strategies that target the right audience. 
  • Finally, one must be able to build and maintain relationships with clients. It includes providing excellent customer service and keeping up-to-date with the latest industry news. 

Finance modelling

A career in the BFSI (Banking, Financial Services, and Insurance) sector is one of the most lucrative and secure career options. The sector has been growing at a rapid pace and offers plenty of opportunities for those who are skilled in banking and finance services and have commercial and financial acumen. 

When it comes to a successful career in this sector, there are some specific vital topics that one must master. These include financial modelling, risk management, investment banking, and commercial banking. A thorough understanding of these topics is essential for anyone looking to build a successful career in the BFSI sector. Financial modelling is used to forecast the financial performance of a company or investment. It is the process of estimating a project’s or business’s financial performance by considering all relevant factors such as growth and risk assumptions and interpreting their impact on the assets. It helps gain a concise understanding of all the parameters involved in financial forecasting. A sound understanding of this concept is essential for anyone looking to make a successful career in BFSI.

Financial institutions and services

Financial institutions and services require one to master a number of topics. Firstly, it is essential to have a good understanding of the different types of financial institutions and the services they offer. It includes banks, insurance companies, investment firms, and so on. Secondly, it is important to be familiar with the various financial products and services available. These include savings accounts, loans, credit cards, and so on. Finally, it is necessary to have a sound understanding of the regulatory environment in which the BFSI- financial institutions and services operate. It includes an overall knowledge of monetary policy, banking regulation, and securities regulation. 

Merchant banking

Merchant banking is an important concept that one must master to have a career in the BFSI sector. It includes topics like capital markets, derivatives, implementing hedging strategies, etc. A strong understanding of these topics is essential to provide guidance to clients on the best way to grow and protect their assets. Merchant bankers also need to be well-versed in the regulatory environment surrounding the financial sector. They must keep up to date with changes in regulations and know how they will impact their clients’ businesses. By staying ahead of the curve, merchant bankers can provide valuable insights and advice that helps their clients navigate the ever-changing landscape of the financial world.

Besides a thorough knowledge of financial regulations and compliance, merchant bankers also need to have a keen understanding of risk management. As advisors to some of the wealthiest people and organisations in the world, they must be able to advise their clients on the best ways to mitigate risk and protect their assets. As the ultimate risk takers who often deal in very high-risk investments, merchant bankers must know how to manage risk for their clients and their businesses.

E-banking

The banking, financial services, and insurance (BFSI) sector is one of India’s most rapidly growing industries. In order to have a successful career in this field, you also need to master and understand the concept of e-banking. E-banking refers to the use of electronic channels, such as the Internet, to provide banking services. It includes a wide range of activities and functions, such as online banking, mobile banking and point-of-sale transactions. With the development of technology in this field, you need to have a good understanding of how all these various channels work and how they can be used to provide banking services efficiently. You also need to be able to effectively use them to meet the needs of your customers. 

Retail banking

There are a few topics which are very important for a career in Retail Banking in the BFSI sector. Firstly, it is important to have a good understanding of the various products which banks offer to retail customers. It can include savings accounts, current accounts, fixed deposit accounts, credit cards and personal loans. It is also essential to be familiar with the KYC (Know Your Customer) guidelines that banks follow to comply with anti-money laundering regulations. 

Additionally, one must also have a good understanding of financial concepts such as interest rates, inflation, etc. As retail banking is all about providing banking services to individuals and small businesses, it is also vital to have strong interpersonal skills and be able to build relationships with customers. Finally, it is also important to be updated on the latest developments in the banking sector so that you can provide the best possible service to your customers.

Get to know the complete course details of MBA BFSI programme

How does an MBA in BFSI land you managerial roles in the banking or finance sector?

The MBA programme with the BFSI specialisation is designed to prepare students for managerial roles in the banking and finance sector. The programme curriculum covers topics such as financial accounting, investment banking, risk management, and financial regulations. 

  • MBA BFSI students gain practical experience through internships and case studies. As a result of their studies, graduates are well-prepared for careers as bank managers, financial analysts, and other leading positions in the banking and finance industry. This specialisation provides students with the skills and knowledge they need to succeed in this rapidly-growing industry. With an MBA in BFSI, you can land a managerial role and other higher-level positions in various organisations like banks, financial institutions, and other businesses. 
  • An MBA in BFSI also provides graduates with the opportunity to develop a network of contacts within the financial community. These connections can be invaluable when seeking employment or advancing one’s career. In addition, an MBA can give graduates the confidence and ability to start their own businesses or ventures in the banking and finance sector. With an MBA, the sky’s the limit when it comes to career possibilities in banking and finance.
  • Individuals with an MBA in BFSI can land various job roles with the skills and experiences they gather from the programme. They can land a role as a trading analyst, investment banker, portfolio manager or analyst. These professionals typically report directly to a department or division manager within the organisation and play a key role in making crucial business decisions. In addition, they are often responsible for coming up with new ideas and strategies that can help them grow the business.
  • Another benefit of an MBA in BFSI is that it provides you with the critical skills and understanding of important concepts needed to succeed in this field. For example, banking and financial services professionals need strong analytical skills and the ability to think critically and analytically while facing any problems. They also need to be able to communicate well with clients and have strong leadership skills because they are often involved in making crucial business decisions.

Thus, an MBA in BFSI specialisation equips individuals with the relevant skills, understanding and experience to land managerial roles in the BFSI sector.

Increase your job opportunities with an MBA from Online Manipal

An MBA from Online Manipal is a great way to increase your job opportunities and advance your career. With an MBA, you’ll be able to pursue a variety of different job roles, from management to consulting and can expect to earn a very competitive salary. 

An MBA from Online Manipal can help increase your job opportunities in several ways. Firstly, it will give you the theoretical knowledge and practical skills needed to perform effectively in a management role. Secondly, it will allow you to network with other professionals and better understand the business world. With an MBA from Online Manipal, you can significantly increase your job opportunities and potential earnings.

Here are just a few of the job roles with the annual average salaries you could pursue with an MBA in BFSI specialisation: 

Job positionJob descriptionAverage annual salary
Investment BankerInvestment bankers work in a specific area of finance to help companies raise money by issuing and selling securities. They also advise companies on mergers, acquisitions and capital raising.INR 6 lakhs
Investment AssociateThey provide relevant banking and financial information to stockbrokers, traders, and managers. They get this information from the analysis of the global investment data.INR 13 lakhs
Accounts AssistantThey provide clerical support to the accounts. They partake in jobs like filing/compiling documents, handling emails and phone calls, etc. They also aid the managers in dealing with external agencies. INR 2.2 lakhs
Financial ManagerThey are in charge of investigating and recommending methods to increase profitability. They are responsible for analysing markets for expansion, mergers & acquisitions, and business opportunities. Their main objective is to review financial reports, monitor accounts, and prepare financial reports & forecasts.INR 13 lakhs
Business AnalystThey are responsible for developing technical solutions to financial problems. They help in the identification of goals, development of best data collection practices, and analysis of collected data to make data-driven decisions.INR 7 lakhs
Market AnalystThey are in charge of analysing data to determine consumer behaviour and trends to further improve the company’s marketing strategy.INR 8 lakhs

An MBA from Online Manipal will help you learn to be a better leader, improve your communication skills, and be more confident when interacting with others. One of the major benefits of an online MBA is that you can complete it from anywhere in the world, and it can help increase your job opportunities. You will also be able to save money on tuition fees as well as living expenses if you live outside of India.

An online MBA also allows you to customise your experience. You can choose which classes and assignments to take, how much time you want to spend on each one, and how much time you want to study for each class. It means that you can tailor your learning experience according to your needs and interests.

Online MBA in BFSI from Online Manipal is an excellent choice

Today’s business world is more competitive than ever, and the competition will only keep increasing with time, and an MBA in BFSI from Online Manipal can give you the edge you need to succeed. Online Manipal is the online platform offered by Manipal University Jaipur that allows students to take up and complete courses online. Manipal University Jaipur is a NAAC A+ accredited institution that offers applicants UGC recognised MBA programmes in various specialisations. 

An MBA in BFSI degree programme provides comprehensive training in all aspects of the financial services industry, from banking and investment to insurance and risk management. 

  • The curriculum is designed to give you a solid foundation in the core subjects while also allowing you to choose electives that match your interests and career goals. Plus, with the online format, you can complete your degree according to your time and schedule without having to sacrifice work or family time. 
  • Manipal University Jaipur also provides placement assistance to its graduates. The placement cell works with leading organisations in the retail BFSI sector to identify suitable placement opportunities for students. MBA graduates from Manipal University Jaipur have been placed with renowned companies such as Amazon, Flipkart, HSBC, ICICI Bank, Kotak Mahindra Bank, and more.
  • The ever-changing landscape of the business world has made it essential for professionals to continuously upskill themselves. The BFSI sector, in particular, is subject to constant flux, making it necessary for employees to have a deep understanding of the latest trends and developments. Recognising this need, Manipal University Jaipur has introduced and developed an online MBA BFSI programme. 
  • This course curriculum covers a wide range of topics, including retail banking, insurance, and investment management. It also provides students with a solid foundation in financial accounting and risk management. And because it is offered entirely online, it is flexible enough for the schedules of working professionals. 

Moreover, the course comes with comprehensive placement assistance and free access to Coursera courses, so students can be sure of acquiring in-depth subject knowledge and practical expertise. The online MBA BFSI elective from Online Manipal is the perfect way for professionals to stay ahead of the curve, with its cutting-edge curriculum and convenient delivery model.

Conclusion

The concepts and subjects taught during an MBA in BFSI programme are essential for individuals looking to pursue a career in this field. Risk management is one of the most critical aspects of the BFSI sector. Students who understand this concept will be better equipped to handle the financial risks associated with this industry. In addition, students should also have a strong understanding of financial regulations and compliance issues. Those who are able to navigate these complex issues will be in high demand by employers in the BFSI sector. Finally, students should also be familiar with the latest technology and data analysis tools, as these will be essential in this rapidly changing industry. Individuals who can master these concepts will be well-positioned and have a successful career in the BFSI sector.

The MBA programme with the BFSI specialisation provides students with a comprehensive understanding of the financial services industry. In addition to traditional business concepts, students learn about the unique aspects of the financial services sector, such as risk management and compliance. The programme also focuses on innovation and technology, two areas that are critical to the future of the financial services industry. As a result, the MBA programme with the BFSI specialisation provides students with the skills and knowledge they need to succeed in today’s dynamic and ever-changing banking and finance industry.

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