SCHOOL OF BANKING, FINANCIAL SERVICES & INSURANCE

Banking, Financial Services and Insurance Industry scenario -Financial Services

The Indian financial sector is experiencing a rapid growth both in terms of a number of institutions and their diversity with several categories of new entities entering the market. The sector comprises of

  • various types of banks (public sector banks, private sector banks, foreign banks, cooperative banks – urban and rural, regional rural banks, payment banks, small finance banks etc.),
  • various classes of non-banking financial companies (loan, investment, asset finance, micro-finance, infrastructure, asset reconstruction, etc.), insurance companies (life, general, health, and reinsurance)
  • Pension funds, mutual funds and other financial intermediaries which provide banking, insurance, and financial services.

Given that the financial sector comprises of various classes of entities largely in Banking, Financial Services and Insurance domains, the popular acronym to refer to these entities is ‘BFSI’. BFSI sector can take advantage of the growing domestic market, increasing investible surplus owing to the growth story, growing need for protection and diversification of investments and provision of globally competitive standards of service. India’s banking and financial sector is gearing up by expanding rapidly.

The projected number of jobs in BFSI sector is likely to be 8.4 Million by 2022.

BFSI sector has tremendous growth potential in the coming decades as it thrives on growth opportunities that are linked with the socio-economic development of the nation.

Symbiosis Indore Market Demand in BFSI Sector

The BFSI sector provides opportunities of a whole spectrum ranging from the employment of a secure nature as in case of public sector banks and insurance companies to individual entrepreneurship by being Financial Consultants, Portfolio Managers to Fund Managers.

The continuous need of skilled manpower who can counsel to understand the nature of the customer and sell the appropriate product or product mix depending upon the financial needs is a challenge which needs to be supported by the education infrastructure.

Banking: In the last two years, 68,000 to 70,000 vacancies have been filled up in Public sector banks, including in SBI. The number of candidates who registered for the common written examination for officer cadre posts in public sector banks conducted by the IBPS in 2016-17 was 19.67 lakh from 15.76 lakh in the previous year. Private Sector banks also provide immense opportunities for employment at different levels based on knowledge and experience. Entry of new banks like Payment Banks and Small Finance Banks has also added to the need for skilled manpower.

Insurance and pension: The level of insurance inclusion in life, general and health insurance is very low and there is the immense scope of increasing the coverage. For this purpose, there is a need to have a lot of skilled manpower for the handling of marketing as well as other functions of insurance business like underwriting, claims management and policyholder servicing. There is immense scope for setting up insurance marketing firms and acting as agents, point-of-sale persons etc. as individuals.

Financial Services: Non-Banking financial entities have also increased many-fold and provide opportunities for employment and entrepreneurship. The areas where there is a huge demand for skilled professionals is financial analysis, portfolio management, infrastructure finance, asset recovery and reconstruction, stock broking, merchant banking, factoring, asset management etc. There is the immense opportunity for being entrepreneurs as personal finance managers, portfolio managers, sub-brokers, mutual fund dealers etc.

Banking, Financial Services and Insurance- Jobs Prospects

Banking

  • Officers in banks handling retail banking, corporate banking, treasury operations, portfolio management, cash management, etc.
  • Direct selling agents of banks for loans, deposits, insurance and investment products, etc.

Insurance and pension

  • Officers involved in marketing, underwriting, claim handling, treasury and investment operations, etc.
  • Officers in corporate agents and insurance brokers, insurance marketing firms, third party administrators etc.
  • Individual agents, micro-insurance agents, point of sale persons, point-of-presence persons, insurance and pension advisors etc.

Financial services

  • Officers in non-banking financial companies like loan/gold loan/investment/ infrastructure finance/microfinance/ asset reconstruction, asset management, stock broking, venture capital, merchant banking companies etc.
  • Independent Financial Consultants, sub-brokers, portfolio managers, fund managers, mutual fund advisors etc.

India’s first Skill University Symbiosis University of Applied Sciences boasts of a very robust academic portfolio that is led by School of Banking, Financial Services & Insurance (SBFSI). School of Banking, Financial Services & Insurance is the forerunner that holds bastion of delivering Academic Programs both at Graduate and Undergraduate level that are well aligned with objectives and Qualification Packs (QP) of BFSI sector skill council. The School offers MBA in Banking, Financial Services & Insurance and BBA in Banking, Financial Services & Insurance Programs that have course structure approved by Industry experts and delivered by well qualified and vastly experienced professors. Moreover supported by practical exposure and skill training that is effectively delivered with the help of Live Projects, Corporate Case-Studies and the use of Modernistic Educational Technology.

BBA in Banking, Financial Services and Insurance

The BBA in Banking, Financial Services & Insurance has been mapped to the job roles in demand in the financial sector. During the program tenure of 3 years the program builds a strong foundation of Basics of Business Administration in banking, Basics of Business Economics, Basics of Law, Basics of Research Methodology, Basics of Information management, Corporate Taxation, Share and Security transactions, Financial Accounting, Business Mathematics, Statistics, Property Insurance, Basics of Credit Business, Personal Insurance, Corporate Finance, Business Policies of financial services, Money and Currencies, etc. It also builds an understanding of the financial sector as a whole. In the 3 & 4 semesters student can enhance their domain knowledge in leasing followed by asset management in 3rd year.

Additionally the student can opt for the electives to enhance their domain knowledge in 5 & 6 semesters. Depending on the stream of specialization appropriate training’s are planned. Additionally depending on the stream of specialization appropriate virtual lab classes are planned to give an insight of the stock trading and banking. In the 5 & 6 semesters a project need to be prepared on real time problems. Overall the course is structured in a way to give a well-rounded knowledge and practical training to the student on which he can build further and become a valuable contributor in the professional world.

Duration: Three Years

MBA in Banking, Financial Services and Insurance

  • Major Placements in Companies like Federal Bank, HDFC & Reliance, PNB Housing Finance, AU small finance bank Bajaj Fin., HDFC AMC, Marquee equity.
  • 100% winter placements (Semester long / 6 month internship in the 4th Sem) for MBA
  • Focus on skills as it is the first skill based university in India
  • Environment to encourage internships from day one
  • Skill based curricula for industry ready professionals
  • Course designed with inputs of industry experts based on NSQF
  • Unique pedagogy: Practical to Theory Ratio is 70:30
  • Mock Bank, Finance plaza
  • Focus on industry visit and research oriented analysis
  • Industry assessments to ensure industry ready professionals
  • Qualified and experienced faculty members from both academic & industry

Duration: Tow Years

Master of Business Administration (MBA):

  1. Passed Bachelor’s Degree of minimum 3 Years duration.
  2. Obtained at least 50% marks for general (open) category in the qualifying Examination.
  3. Obtained at least 45% marks in case of candidates belonging to the State of Madhya Pradesh in a reserved category (excluding creamy layer) in the qualifying Examination.
  4. Valid Score card of entrance exam of State/National Level as notified by University.
  5. Qualify in Personal Interview conducted by Symbiosis University Indore.

Bachelor of Business Administration (BBA):

  1. Passed 10+2 or equivalent course in any discipline from any recognized Board/Council/University with minimum 50% marks for general (open) category belonging to the State of Madhya Pradesh
  2. Passed 10+2 or equivalent course in any discipline from any recognized Board/Council/University with minimum 45% marks for students of reserved category (excluding creamy layer) belonging to the State of Madhya Pradesh.
  3. Qualify in Personal Interview conducted by Symbiosis University Indore.

NRI / International Students:

A candidate who has completed XII (10+2) or equivalent examination from any Foreign Board must obtain an equivalence certificate from the Association of Indian Universities (AIU). All foreign qualifications need to be verified by Association of Indian Universities (AIU) by the candidate before seeking provisional admission to any program of Symbiosis University Indore. In order to promote International understanding between Indian and Foreign students, SUAS has reserved 5% seats for NRIs/International students in every division.

Training Bank for replicating the environment of a typical bank branch

  • Cash area
  • Account Opening desk (Liabilities)
  • Loan Servicing Desk (Assets)
  • Safe deposit lockers
  • Insurance Advisor
  • Investment Advisor
  • Equity desk

Finance Lab for replicating consumer interaction and education environment; and honing of soft-skills.

  • Financial Literacy
  • Financial Counselling
  • Investment Advise
  • Complaint registration and handling
  • Daily updates in BFSI
S. N. Name of the Company Sector Details
1 HDFC Bank Banking Industry Partner
2 Karvy Stock Broking Ltd. Financial Services Industry Partner
3 Reliance capital Financial Services Industry Partner
4 Aditya Birla Money Financial Services Industry Partner
S.N. Name of the Company No. of Students Program/Sem
1 Aditya Birla Capital 15 MBA –BFSI/II Sem
2 Aditya Birla Capital 09 BBA-BFSI/IV Sem
3 Shriram Life 11 MBA –BFSI/II Sem
4 Karvy Stock Broking Ltd. 08 BBA-BFSI/IV Sem
5 Karvy Stock Broking Ltd. 07 MBA –BFSI/II Sem