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Finance glossary

What is a banking certification?

Bristol James
4 Min

Banking certification encompasses a suite of recognised professional qualifications that help those in the financial sector advance their career and command higher salaries.

Since the banking industry is rather competitive, specific financial qualifications on a CV can also impress recruiters and help candidates stand out from other applicants.

With the above in mind, here are the top five certifications.

Chartered Financial Analyst (CFA)

The Chartered Financial Analyst (CFA) program is top of the list for good reason. With a focus on investment analysis and wealth management, CFA certification is extremely well-regarded around the world.

In Australia, the CFA certification program:

  1. Provides a strong foundation for skills in portfolio management and investment analysis.
  2. Allows graduates to work in a range of careers such as investment banking, wealth management, commercial banking and consulting.
  3. Demonstrates to recruiters that banking professionals have the knowledge and commitment required to thrive in their chosen industry.

Chartered Banker

Charterer Banker is another internationally recognised certification available to finance professionals.

In partnership with the Chartered Banker Institute (UK), the Financial Services Institute of Australasia (FINSIA) offers a Chartered Banker course it describes as “The global gold standard for ambitious bankers making a difference in the digital age.”

The chartered banking diploma also equips bankers with core skills and competencies in:

  • Bank strategy, operations and technology.
  • Bank risk management.
  • Professionalism and ethics.
  • Business lending, and
  • Personal and private banking.

To maintain their certification, individuals will need to undertake 35 hours of continuous professional development each year. FINSIA also stipulates that a minimum of five hours be devoted to ethics and integrity.

Certificate IV in Banking Services

The Certificate IV in Banking Services is suited to those who require a comprehensive understanding of financial products and services.

Most students tend to be those who would like to work in banking, customer contact centres, or retail financial services such as buy now, pay later (BNPL).

Within the diploma there are elective units for:

  • Lending – where students gauge the creditworthiness of borrowers with a credit analysis.
  • Mobile banking – where students match mobile banking and lending products with small businesses, and
  • Customer service – where students learn how to analyse customer needs, resolve disputes, and provide advice on financial products.

Furthermore, those who attain the Certificate IV in Banking Services automatically receive Australian Securities and Investments Commission (ASIC) Tier 2 certification.

The ASIC certification affords the individual legal grounds to provide financial advice and sell related products and services.

Certificate IV in Finance and Mortgage Broking

The Certificate IV in Finance and Mortgage Broking is an exhaustive, nationally recognised course for both aspiring and experienced mortgage brokers.

After an introduction to the Australian mortgage industry, students learn about the legislation and regulatory framework that governs it.

Then, they are introduced to numerous types of lending institutions and loan types. Credit unions, building societies, securitised lenders, owner-occupied mortgages, and bridging finance are all covered in detail.

Much of the rest of the banking certification is dedicated to the subject of loans. That is, loan and lending fundamentals, ethics, fee calculations, and the loan process from interview to settlement.

Students have up to 6 months to complete the Certificate IV in Finance and Mortgage Broking. Online training is provided via email, a dedicated forum, and a 3-day Zoom virtual workshop.

Graduate Diploma in Financial Planning

The Graduate Diploma in Financial Planning is a 12-month course approved by the Financial Adviser Standards and Ethics Authority (FASEA).

The course is suited to current financial advisers who need to meet new education requirements by studying a FASEA-approved program. However, it may also be a good fit for professionals with a similar degree who want to change careers.

Students will add to their existing knowledge in areas such as estate planning, risk management and insurance, superannuation, behavioural finance, investment management, ethics and taxation.

Graduates can choose to complete additional subjects to earn their Master of Financial Planning from a dedicated institution such as Kaplan.

These courses focus on practical learning and enable individuals to specialise and become a business development manager, portfolio analyst, investment banker, insurance advisor, or financial planner.

In summary:

  • Banking certifications allow finance professionals to develop or enhance their knowledge, skills, and career prospects in the banking industry. This industry incorporates a diverse range of financial products and services.
  • The Chartered Financial Analyst (CFA) certification is highly respected worldwide and covers banking services related to wealth management and investment analysis.
  • Charterer Banker is another internationally recognised certification that can only be awarded by the Chartered Banker Institute in the United Kingdom. There are also various diplomas for more specialised areas such as mortgage broking, financial planning, and retail banking.



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