Excerpted from the Italy Career Guide
Italy’s financial sector has become well-established over the last 20 years. However, recent restructuring and mergers have led to an increase in the average size of banks and a drop in employment numbers. Italy’s insurance industry has also been affected by new and complex regulations, and its investment management market continues to develop. Nevertheless, annual growth of 1.8 percent is expected for the industry between 2011 and 2015. Employment is also expected to grow by 1.2 percent per year over the same time period, and the creation of new jobs in the sector is predicted to amount to almost 38,000.
Areas of Job Promise
A recent Robert Half survey of 100 Italian CFOs and finance directors revealed that compliance officers, auditors and comptrollers were among the hardest occupations to fill.
Eighty-five percent of Robert Half survey respondents report having difficulty in finding enough skilled workers. Skills most in demand are in control management (33 percent), financial planning and analysis (26 percent), accounting (22 percent) and credit management (21 percent).
Certifications and Education Requirements
There are two educational paths for accountants. Technical accounting high schools (ragioneria) prepare students as basic accountants (contabile); a university degree in economia is the first stage to start a career as an accountant, a tax expert or an auditor. In Italy, there is also a specific profession called commercialista, which roughly corresponds to a combination of a tax expert and a senior accountant. To be a commercialista in Italy, it is necessary to pass an exam after having worked at least two years in an accounting firm.
Organizations and Trade Associations
Associazione Bancaria Italiana (ABI)
Italian Banking Association
ABI is the association for banking and financial practitioners. It aims to protect the national banking system and represent its members in cooperation with other associations. It organizes research and round tables on financial topics and promotes the innovation of the banking system in accordance with European trends.
Associazione Bancaria Italiana
Piazza del Gesù, 49
Tel: +39 0667671
Fax: +39 066767457
This is just a short sample of what you’ll find in over 100 pages of information in the complete Italy Guide.