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A Chartered Accountant fits in many roles as banker. Both public and private banks regularly conduct campus placement interviews of Chartered Accountants conducted by ICAI for various job profiles.

The Private Banks like Citi Bank, ICICI Bank, Yes Bank, , HDFC Bank, and others recruit

Chartered Accountants for various roles like:

  • Credit management /Analyst
  • Investment banker
  • Portfolio manager
  • Branch manager
  • Credit and Risk Management Analyst
  • Loans and Advances head
  • Fund Adviser and many others.

The public banks like SBI, BOB, BOI and others recruit Chartered Accountants and CA students for additional roles like:

  • Accounts manager
  • Accounts executive
  • GM Finance and Audit
  • Audit Manager
  • Treasury manager and many others.

Even many worldwide banks like Union Bank of Switzerland, Deutsche Bank etc. recruit chartered accountants for the role of investment banking, risk management and credit analysis at their headquarters in India.

The pay scale in the bank for qualified Chartered Accountants is very high. Even public sector banks or international banks offer long successful career opportunities. The work ethic is good, the working hours are reasonable and there is a constant demand for CA in the bank.

1. Relationship Manager (RM):

As the title suggests, an RM is responsible for the revenue generated through the customer – he is the only point of contact between the corporate and the bank. He looks for various business opportunities – like salary accounts from employees, short and long term loans, cash management, etc. A person generally needs to have strong customer facing skills. While a CA would certainly fit in well here, it would not make the best use of his/her analytical skills. Note that, a fresher will not join as RM for a large corporate, but will start as a Junior/Assistant RM. However, he can be an RM for an SME (Small/Medium Enterprise).

2.Risk assessment manager:

Risk managers are always in demand—as the economy grows—identity theft and data breaches are on the rise. The volatility in the market creates a lot of uncertainties for the players.

Risk managers are employed in the finance, information and security, technology, commodity, enterprise, market, credit, environment, corporate governance, compliance and business operations sectors.

Role & Responsibilities:

  • Risk managers analyse current risk profiles relating to company operations, employees and other stakeholders. As a result, they strategize practices that can identify potential uncertainties.
  • Risk managers quantify future risk and evaluate existing measures to reduce risk.
  • Risk managers measure the risk appetite of the firm.
  • Risk managers create a methodology for the overall risk management processes of the organization.
  • Risk managers develop contingency plans to deal with potential risks.
  • Risk managers prepare a risk budget.
  • Risk managers prepare risk reports and present them to top level officials. This presentation summarizes the risk findings and mitigation measures.
  • Managers communicate with stakeholders and understand the risks posed by corporate governance.
  • Risk managers coordinate internal and external auditors—compliance and policy audits.
  • Risk managers evaluate new contracts and internal business plans that can further reduce risk.
  • Finally, risk management professionals train employees to increase risk awareness.

Role of Chartered Accountant (CA) in Banking Industry

3. Credit Analyst/Manager:

Credit Manager/Analyst evaluates the credit risk the bank takes on the customer. CM visits the factory, meets the management, and studies the industry and economic environment and also importantly, the past financials of the company. CM looks at the potential earnings and profits, basis her analysis of the company and economic environment. Credit Manager decided that how much of a credit risk the bank can take on the customer, or whether it should take a risk at all.

A Chartered Accountant’s rigorous analytical skills will be best utilized as Credit Manager/Analyst– also his/her strong foundation in financial statements is very valuable in understanding and interpreting them.

4. Product Managers – Trade Finance, Cash Management, etc.

A manager who thoroughly understands each of the above products. Product Managers work with Relationship Managers (RMs) to answer any customer questions and structure the product according to the customer’s need. Again, while a CA would fit in well here as well, it is not a full use of his skills.

Cash and liquidity management

Cash and liquidity management is a sub-function of treasury management that aims to convert sales into available cash as quickly as possible and at minimal processing cost. It is an important component in Treasury operations; Operations that are concerned with maximizing the benefits of surplus funds and minimizing the cost of scarcity through careful investment and borrowing.

5. Portfolio Manager:
Portfolio managers create and manage investment allocations for their clients. They can also work according to predetermined investment strategies which they devise to achieve the financial objectives of the client.

Portfolio managers are responsible for the following:

1. Determine the Client’s Objectives

2. Select the Right Mix of Asset Classes

3. Perform Strategic Asset Allocation (SAA)

4. Conduct Insured Asset Allocation /Tactical Asset Allocation

5. Manage Risk

6. Measure Performance

7. Wealth Management

6. Wealth manager:

A wealth manager is a specialized financial advisor who provides wealth management services to high net worth clients. Depending on your investment needs and goals, a wealth manager can provide you with valuable advice and many additional services related to your financial life. Wealth managers can work individually, operate as a small-scale business or even run a large firm. You can avail your services from a single person or multiple persons belonging to the wealth management team.

Now that we know what a Wealth Manager is, let’s find out what they do. Being in the business of money management, wealth managers are highly qualified professionals and experts who provide comprehensive personal finance services. They receive data, evaluate information, make decisions, solve problems, establish interpersonal relationships, analyze data, identify goals, develop tailored strategies, and execute them.

Two Wealth managers are not same, and naturally, the services offered by each also differ. In addition, most money managers have a unique set of skills and provide customized services.

Here are some of the services that wealth managers usually provide.

  • Estate planning
  • Accounting services
  • Retirement planning
  • Strategic tax planning
  • Investment advisory services
  • Banking services
  • General long-term financial planning

Based on your exact needs, wealth managers can offer a personalized combination of the above-listed services.

How Through this article now we can understand that how a CA can use his/ knowledge as Banker. There may be more roles as a banker, here we only discussed few Major Roles.

Author Bio

CA Uttam Modi, Qualified as CA in 2019. Having Overall Experience of 7+ years in Field of Corporate Finance Audit and Corporate Law. Graduation in 2015 from MGS University, further Completed Bachelor Degree in Law from Rajasthan university in 2021. Also Complete Certification by ICAI on Concurrent A View Full Profile

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One Comment

  1. vswami says:

    The write-up makes for a painstaking attempt at itemising / eulogising the ideological expectations of stakeholders on the multiple roles any academically qualified CA can dutifully discharge ! Should serve the purpose of a righteous guidance to each one of the fraternity regardless of the chosen field to practice !

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April 2024