Banking and Finance
Banking and Finance
The Banking and Finance sector performs a critical function in the Philippine economy as it is primarily responsible for the mobilization of domestic savings and the conversion of these funds into directly productive investments. Financing the needs of firms which desire to raise productive capacity by purchasing additional capital equipment, acquiring or leasing idle property, building, and expanding factories, and increasing inventory are responsible for sustaining economic growth in the long term, alongside the creation of new jobs. It is very important for the banking and finance sector to continue finding ways to encourage households to save their unspent income in various financial assets so that these resources could be used and transformed in to loans that will finance the expansion of directly productive business ventures.
CAREERS UNDER THIS INDUSTRY
An actuary analyzes statistical information for individual or business clients to estimate mortality, accident, sickness, disability, and retirement rates.
An economist is someone who studies the production and distribution of resources, goods, and services. A generally accepted interpretation in academia is that an economist is one who has attained a Ph.D. in economics, teaches economic science, and has published literature in a field of economics.
Any person who is bonafide holder of a valid Certificate of Registration/Professional Identification Card issued by the Professional Regulatory Board and Professional Regulation Commission. (Republic Act No. 9280)
Accountants are practitioners of accountancy, which is the measurement, disclosure or provision of assurance about financial information that helps managers, investors, tax authorities, and others make decisions about allocating resources. Generally, one must have completed a bachelor’s degree in accountancy and passed a government recognized certification examination to become a professional in this field.
In the financial services industry, one of the most coveted careers is that of the financial analyst. Financial analysts can work in both junior and senior capacities within a firm and it is a niche that often leads to other career opportunities. The financial services industry is competitive, and it can be tough to break into the analyst field, but there are some preparations you can make to position yourself for this career.
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