Things mentioned in the Article;

• Introduction

• Banking and Finance law

• Career in Banking Sector

• Job Opportunities

• Institute of Banking Personal Selection Department Law Officer

• Legal Analyst

• Compliance officer

• Investment Officer

• Specialization in Banking and Finance Law

• Skills Required

• Conclusion

Introduction:

In India, the banking sector is one of the widespread industries which is the backbone of the country’s economy. That also signifies the responsibility it holds towards the country's economy, for proper functioning certain rules and laws are essential, and for proper implementation of these rules and regulations law professionals are necessary. Whether in the Public or private sectors, there are dire requirements for legal professionals who specialised in the Banking and Finance sector. Every major financial transaction and deal requires the supervision of a legal advisor and specialist, that’s why there is high demand for Banking and Financial lawyers in today’s time. In seeing the demand for law graduates specialised in the Banking sector, there are a number of platforms which are offering online law certification courses on Banking law, as well as there are a number of vacancies for Public officials, so these courses help them learn skills required to apply for such posts in public banks.

Banking and Finance law:
Banking and financial law deal with the contractual relationship between the Lenders and Borrowers. All the financial transactions have the main that is to negotiate and manage this relationship to ensure that the represented party’s interest is being fulfilled both commercially and legally. Banks are a type of intermediary( which means an organization that helps two people, or more than two people or a group to reach an agreement, by acting as the means of communication between them). But in the present time, there are several other financial intermediaries bodies other than Bank such as; saving institutions, credit institutions, insurance companies, mutual funds, investment companies, real estate companies, and many other trust funds. All these organizations have a common requirement for a legal advisor or analyst as large transactions require proper legal guidance.

Career in Banking Sector:

The job opportunities for law graduates in the Banking sector are expected to grow more with time, Thus Banking sector is one of the emerging career choices for law aspirants. Aspirants who are interested in different banking fields and aim to make a career as an advisor or analyst or representative in the banking sector opt for online legal certification courses to get complete knowledge about the legal requirements in the Banking sector and more specifically all the regulations and laws enacted by the government in the banking sector including RBI Act, 1934. By having knowledge about banking and finance law an individual has career options such; Corporate lawyers, Merger & Amalgamation, Insolvency and Bankruptcy, and Private equity, and all of these are all for the private sector, in public sector job profiles such IBPS law officer, IRS officer, Deputy General Manager of Bank etc. Thus, the Banking sector is a very lucrative career option for law aspirants, one of the reasons behind this is that many law firms in India, provide full services also, lack in this sector, that’s why there is a high demand for law graduates with specialization in Banking and Finance Law. 

Job Opportunities: 

Lawyers in the field of Banking and Finance law do work such as; negotiations, structuring and handling financial arrangements, reviewing bank policies, Settlement of Non Performing Assets (NPA), Dealing with the RBI Act, Handing Insolvency and Bankruptcy litigation cases according to BCI, Dispute Resolution, Fund developments etc. There are several issues in the Indian Bank internally as well as there are several international MOUs, and all of these require legal guidance. Here are some of the job opportunities a law graduate can look forward to after specialising in the banking and finance sector, such;

Institute of Banking Personal Selection Department Law Officer:

The IBPS officer is a person who takes care of all legal matters of a Bank. It is a written entrance exam, followed by an interview process to recruit officers, clerks, and special officers in Indian Bank. A law graduate who is interested in Banking and Finance law can apply for this post as it is a reputable job profile. 

Legal Analyst:

A law graduate who assists attorneys conduct client meetings and drafting legal documents, gathering information about clients, performing legal research, builds networking relationships. A law graduate even without a certificate of practice can act as a legal analyst.

Compliance officer:

A person who ensures the policies of the Bank and works closely with chief operating officers and performs various other legal functions in the Bank is known as the Compliance Officer. They ensure that the guidelines by RBI are being followed properly and there is no such activity going on in the bank which is prohibited by the RBI Act, or any other banking regulations.

Investment Officer:

A law graduate with a specialization in the Banking and Finance Sector who is interested in investments or has keen knowledge about the whole process of investment can provide legal guidance to a person or an organization or client in this sector.    

Specialization in Banking and Finance Law:

There are a number of specializations in the field of banking and finance, aspirants if specialized in any one of these specializations, then it can be really beneficial for them as it will have them well equipped with a certain fields knowledge, skills required for them and also they can do an internship and get experience. At present time there are a number of free online law certification courses based on Merger & Amalgamation, Finance Officers, Insolvency and Bankruptcy law, Indian Banking Sector, and many others. These specializations help acquire in-depth knowledge and practical skills, which helps law leaner establish their career in any field they desire.

Skills Required:

There are some personality traits that are required for a successful career in the field of law, as the effect of personality on clients proves one’s credibility and wins clients' trust. Skills such as; Hard Work, Confidence, organizational skills, convincing ability, good debating skills, persuasion skills, good analytical and logical reasoning skills, good team management skills, good presentation skills, Drafting skills, detail-oriented, Negotiation skills, etc, are required for building a successful career in the field of Banking and Finance law.

Conclusion:

Doing an online legal certificate course, offered by various online legal learning platforms helps learners be well versed in banking and finance law which can help them land a job without any complications. The career opportunity for law aspirants in the Banking sector is increasing significantly, which makes the banking sector an ideal career choice. There are many laws and regulations regarding the banking sector which a law aspirants aiming to make a career in Banking law must be aware of such as; the Banking Regulation Act, 1949, Reserve Bank of India Act, 1934, Foreign Exchange and Management Act, 1999, State Bank of India Act, 1955, and many more. With the help of certification courses, one can learn many things like this.