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Excerpted from the Chile Career Guide

Chile has a large and diversified financial system, resulting in a stable banking sector. With a solid regulatory and supervisory framework, Chile made it through the global recession relatively unscathed. No major banks failed and markets are recovering swiftly.

There are 24 banks operating in Chile, of which 18 are domestic banks, five are foreign branches and one is the state bank, the Banco del Estado de Chile (not to be confused with the Central Bank).

Areas of Job Promise

Although Chile already has a strong regulatory framework, the government is reforming the country's financial regulatory system in order to be even better prepared for future crises. Currently, financial services in Chile are regulated by different institutions according to the type of service. Therefore, it is likely specialists in regulatory oversight will be needed.

Salaries

The average monthly salary for workers in financial services in Chile is 918,000 CLP.

Certification and Education Requirements

The Colegio de Contadores de Chile is the official professional association for accountants and auditors in Chile. Please visit http://www.chilecont.cl/ (Spanish) for more information.

To become an accountant (Contador Público Auditor) in Chile, one must first obtain a Licenciatura, or a bachelor’s degree, in accounting and auditing. Then, one must pass the Contabilidad General exam, the general accounting exam.

Organizations and Trade Associations

Colegio de Contadores de Chile
Association of Accountants of Chile
http://contach.cl/ (Spanish)
The national accounting organization of Chile issues industry standards on topics such as professional ethics and auditing. It also oversees El Instituto de Investigación y Desarrollo Profesional (INDEP), which offers accounting classes for aspiring and current accountants. The colegio has 11 regional branches throughout Chile. The Association of Accountants of Chile was established in 1979 and currently has 27,000 chartered members in 28 regions around the country. It works to promote the growth of the accounting profession in Chile, to ensure strict compliance with the profession's Code of Ethics, and to promote continuing education programs. The association is an active member of the International Federation of Accountants (IFAC), the American Accounting Association (AIC) Conference on Economics and the Latin American Confederation of Public Accountants. The website lists professional standards and offers a monthly newsletter and events agenda.

Headquarters
Colegio de Contadores de Chile
Mesa central 2410100
Dieciocho 121
Santiago, Chile
Email: consejo.nacional@contach.cl

Publications

Newsletter ABIF
Asociación de Bancos e Instituciones Financieras de Chile AG
Association of Banks and Financial Institutions of Chile Newsletter
http://www.abif.cl/publicaciones-nacionales/ (Spanish)
Founded in 1945, the Association of Banks and Financial Institutions of Chile AG is a trade organization that brings together all the financial and private banks operating in the country, as well as foreign banks that maintain representative offices in Chile. Membership currently consists of 24 banks and 11 representative offices of foreign banks. It is a member of the Production and Commerce Confederation. It is also affiliated with the Latin American Banking Federation (Federación Latinoamericana de Bancos, FELABAN) and the Chilean Chapter of the International Chamber of Commerce. The association publishes an annual ‘Summary of Activities’ for the Chilean banking system and a newsletter; users can subscribe via the contact form on the website.

Asociación de Bancos e Instituciones Financieras de Chile AG
Avda. Nueva Costanera 4091, Piso 4
Vitacura, Chile
Tel: +56 2 892 2800
Fax: +56 2 892 2826
Email: contact form on website

This is just a short sample of what you’ll find in over 100 pages of information in the Chile Guide.



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