Is your career in investment or banking futureproof?
We have all heard it: there will be no jobs left in the financial services sector by 2030! Sounds like you need to change careers! Now, hold on a second: Let us unpack this a bit further before the panic takes hold of us.
I understand. The volume in algorithmic trading has increased dramatically over the last 5 years. However, we have yet to see evidence of a sustainable outperformance over human asset- and portfolio managers or investment analysts. After all, markets consist of an ecosystem of various players, who interpret data. Besides this, programming a computer with suitable trading models requires specialists that understand financial markets and possess mathematical skills, not only IT skills. What better way to add those skills while being employed in the financial services sector already, and in control over the time spent on this journey at all times.
Now, how about the banking world? Some forecast that banks will not exist in future and that bankers will not be needed any longer. Others believe that humans will continue to play a crucial or even more important role in this sector.
While certain banking services are easier to replicate than others, banks are part of a bigger financial system, and as such are able to take on and manage risks in a specialised way. And then similarly to computer trading mentioned earlier, robo-advisors need to be programmed by someone who understands banking as well as human behavior. Many seasoned bankers will be in a good position to take care of this, but they might need to freshen up on the more recent trends and might not have studied formally in a long time or at all.
Watch out for Milpark’s School of Investment and Banking’s revamped programmes for 2020! We have added more current modules to cover new and upcoming themes, different assessment techniques to help build future competencies and also new prorgrammes to give bankers new avenues for their careers, but also to acknowledge existing knowledge and skills.
A glimpse into the new Milpark banking and investment world for 2020: how much time do you have?
4 years: A BBA with Banking: add necessary and up to date technical banking skills, management skills for the future and technology and innovation management in banking to your expertise, with a possibility for a one-year internship in a bank. A BCOM with Investment Management, for those that want to enter one of the most exciting workplaces: the investment industry. Our programme will make you work-ready, since you will be exposed to real investment specialist and practical case studies and simulations.
3 years: A Diploma in Banking with work integrated learning: school leavers with an interest to work in banking operations, but also add the necessary work experience banks want to see. Also, for those who already have extensive banking experience and would like to use this to their advantage, in terms of the programme being more affordable and faster for them.
2 years: A Futureproof Bankers programme, focusing on fraud, financial crime, compliance, risk management combined with new product and new customer knowledge, as well as some relevant technical banking or IT relevant-skills, like business analysis. For those, who want to be flexible to choose their areas of future know-how.
1 year: A Postgraduate Diploma in Banking for seasoned bankers to step up their career one more notch with the possibility of recognition of prior learning for credits for up to 3 modules on a case-by-case; this speed up the journey and make it more cost effective OR a Postgraduate Diploma in Investment Management for students with non-investment related degrees or other undergraduate qualifications, and wanting to move into the investment industry or understand investment concepts in more depth. What will make this year so special is the exposure to fellow students and to industry specialists!
Last but not least, look out for our new online short courses, like financial services technology or value investing!
For more information on these and other qualifications visit us on https://www.milpark.ac.za/school-of-investment-banking. Admissions for 2020 open on 1 September 2019, registrations on 1 October 2019.
21 Aug 2019