Vietnam: Main duties of Finance - Banking, Level 5 of VQF

Vietnam: Main duties of Finance - Banking, Level 5 of VQF (Illustrative Image)

Under Circular 20/2019/TT-BLDTBXH, Finance - Banking is a profession involving services of transaction, currency circulation through banks, credit organizations, and financial instruments issued by banks at the domestic and international level, the financial sector in enterprises. The main duties of Finance - Banking, Level 5 of VQF in Vietnam are as follows:

- The Finance profession involves monitoring the capital and cash flow of a company or an enterprise. The finance profession involves making decisions about borrowing money or negotiating financial contracts. A financial manager is involved in almost all aspects of a company;

- The Finance - Banking profession involves capital mobilization operations, credit operations (lending, discounting, guaranteeing, factoring, export-import financing), payment operations (personal payment, corporate payment, domestic and international payment), financial investment operations, and other operations as prescribed by law.

- The circulation of currency in the economy and the use of finance in enterprises operate like the blood vessels in the body, ensuring the operation of the entire economic system. Therefore, whether the economy is developing or in crisis, job prospects in this sector are never limited. With the knowledge and skills acquired while studying Finance - Banking at the college level, employees can work in the following units and agencies:

+ Commercial banks, securities companies, non-bank credit organizations;

+ State management agencies for finance and banking and other types of enterprises, financial organizations; investment funds, stock exchanges;

+ Insurance companies, financial companies, credit funds, or working as accountants for companies;

+ Financial departments of companies, corporations.

- Finance - Banking, Level 5 of VQF requires essential soft skills to meet job requirements such as communication skills with customers, product introduction, customer persuasion, foreign language skills, computer skills, time management skills, critical thinking, analytical skills, teamwork... to meet the requirements of each job position and the requirements to work in a dynamic, competitive, and globalized environment. Additionally, continuous learning is needed to improve foreign language communication skills, expand social knowledge; cultivate carefulness, detail-oriented, clarity; build professional awareness and passion.

- To practice the profession, employees must have good health, good professional ethics, sufficient professional knowledge, and skills to meet the job position's requirements. Moreover, they need to continuously learn to improve foreign language communication skills, expand social knowledge, cultivate carefulness, detail-oriented, clarity; build professional awareness and passion.

- Students after graduating from Finance - Banking, Level 5 of VQF must meet level 5 requirements in the Vietnamese National Qualifications Framework.

- The minimum knowledge volume is 1,740 hours (equivalent to 80 credits).

Details can be found in Circular 20/2019/TT-BLDTBXH effective from February 06, 2020.

Ty Na

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