The banking and insurance sector has a very wide variety of professions. Here are five of them, between emblematic and new professions, that may interest you.
1. Account Manager
The bank account manager can now work in a branch, in a call center, or online on the Internet. For an account manager, also known as an advisor, the sale of banking and insurance products is just as important as customer service. These two aspects of the function come together in a common objective, that of identifying and satisfying the needs of customers, while building customer loyalty. Customer relations professions, which include account managers, account for about half of permanent bank recruitments.
If you're a good fit if: you love both customer service and sales. You must have a sense of contact and advice, as well as a commercial flair. You need to know how to offer and sell banking and insurance products and services without being too pushy, in order to ensure the best possible service to your customers. The offers are based on advice, without unnecessary sales.
The job of account manager is accessible as soon as you obtain a Bac+2 such as:
- BTS banking, BTS negotiation and customer relations, BTS insurance, BTS MCO, BTS NDRC;
- DEUST banking, financial and provident institutions, DEUST marketing of financial products, banking and insurance option.
Replacing the DUT (Bac+2) of the same name, the BUT Legal Careers (Heritage and Finance track) and Marketing Techniques can now be obtained in 3 years. If you wish to address a professional clientele, and become a professional account manager, a Bac+5 is recommended, in particular the professional account manager course of the master's degree in Money, Banking, Finance, Insurance.
2. Wealth Manager
The wealth manager working in banking or insurance is responsible for optimising all the financial aspects relating to a clientele of individuals or professionals. Also known as a wealth management advisor (or financial advisor) covers financial investments (savings, stock exchanges, etc.), real estate assets, taxation, insurance, retirement and the client's estate.
The work of a wealth manager begins with the assessment of the clients' assets, their income, and their situation (family for an individual, legal for the company). Its analysis leads to the development of a more or less risky investment strategy depending on the level of risk desired by the client, and the proposal of concrete solutions in order to optimize the assets: better profitability of current investments, new investments, tax, matrimonial and inheritance optimizations, etc.
If you like wealth analysis and the search for solutions that are best suited to clients' expectations. You also need to be versatile, and have a great appetite for monitoring the financial and real estate markets. You will also follow legislative developments that may impact clients' assets, particularly in terms of taxation.
Obtaining a Bac+5 level diploma is necessary to become a wealth manager. There are two main possibilities available to you: obtain a master's degree, or a business school or engineering degree specialized in the field (master's degree in insurance law, master's degree in finance, master's degree in wealth management, MSc finance, MSc in wealth management, etc.).
3. Asset Manager
Also known as a portfolio manager, the asset manager invests funds in order to increase their value for banking or insurance clients (e.g. managed management and individualized management under mandate in life insurance). Aimed at both individuals and professionals, the job of asset manager therefore has similarities with that of wealth manager, but its function is limited to managing investment portfolios (shares, bonds, etc.), generally belonging to wealthy clients.
To succeed in his mission, he must buy and sell at the right time. To do this, the asset manager relies on his or her knowledge, analysis, monitoring of the financial markets (stock market, money market, etc.), and monitoring the life of companies (investments, takeovers, mergers, fundraising, etc.).
If you like financial analysis and following stock market and monetary news, in particular. If you want to work as an asset manager, it's also best not to be afraid of stress, to be reactive, and to be resilient so that you know how to bounce back from a failure.
You will need at least a Bac+5 to become an asset manager. There are several paths that can lead you to this profession, the most recommended of which are as follows:
- Obtain a master's degree in finance or a mention in money, banking, finance and insurance.
- Go to business school and follow a finance-oriented course.
- Enter an engineering school that allows you to obtain a specialized degree in finance.
4. Bank Lawyer, Insurance Lawyer
A bank lawyer or insurance lawyer is an in-house lawyer, responsible for providing legal expertise within the company that employs him/her. He ensures that all of his company's activity complies with the legislation, he makes himself available to other employees to answer their legal questions, he takes care of the drafting of contracts (at least templates), and prevents and settles disputes. In the event of a trial, the bankorinsurance lawyer prepares the company's defence in court with the help of lawyers. The in-house lawyer is also called upon in the event of a social plan or merger and acquisition.
You are the right person if: you like law and corporate life, you want to put your legal knowledge at the service of a collective project, and you are interested in the banking or insurance fields. To become an in-house lawyer, it is recommended to be rigorous, attentive to others and pedagogical, and to be a team player.
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As is the case in principle for other in-house lawyers, banking or insurance lawyers are recruited from a master's degree, most often obtained after a Bachelor's degree in Private Law. The recommended courses are obviously the master's degree in banking and financial law and the master's degree in insurance law, or the highly sought-after DJCE master's degree (diploma of corporate counsel) delivered only by 11 universities in France.
5. Data analyst
The digitalization of the banking and insurance sector has logically created a need for new IT, digital and network professions. Among them, the profiles of data professionals, and more particularly data analysts, are scrutinized. In the banking and insurance sector, data analysts (also known as data scientists) transform raw data into decision-making tools to meet customer needs and improve business risk management.
By analyzing the very large amount of digital data collected by the bank or insurance company, the data scientist will be able to set up processes for predictive marketing, improvement of the customer experience (improved processes in operations, customer service, etc.), and fraud detection.
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Suitable for you if: you are passionate about data and new technologies, and you want to put your expertise at the service of a large banking or insurance group. The field in which you are going to work must obviously interest you, and you will have to lead projects with all the professional qualities that this requires: authority, listening, organization, budget management, etc.
Do you want to become a data analyst in banking or insurance? Many diplomas have been created in recent years to train students for this profession, which is highly sought after by recruiters:
- the BUT Data Science;
- the various master's degrees in data science (mathematics and applications, data science, computer science, applied mathematics, statistics, etc.);
- specialized master's degrees in data science;
- Diplomas from engineering schools specializing in artificial intelligence and data science.