Crisis phenomena, unstable geopolitical, inefficient monetary and fiscal policies have preconditioned the simultaneous complication and increase in the social role of finance, which has become a relatively independent sphere of economic science and practice. Therefore, the professorial teaching staff of the Department of Finance and Banking faces a responsible task – the formation of students’ new financial and managerial thinking and the preparation of the future professional, efficacious, distinguished financial and intellectual elite that should stand at the forefront of financial and economic development of the state and its regions.

The Department of Finance and Banking was founded in 1964 with the aim of teaching and methodological support provision for training highly-qualified economists in the speciality “Finance and Credit” as well as conducting research work in the field of financial activities.

At different stages of the Department establishment it was headed by prof. Meshko I.M., assoc. prof. Lechyha Y.Y., assoc. prof. Sember S.V., assoc. prof. Pitiulych M.M. Nowadays the Department of Finance and Banking is headed by Vira Ivanivna Vartsaba, D. Sc., professor.

The department provides teaching of 65 academic disciplines for all specialities at the Faculty of Economics. Teaching of disciplines is provided by 2 Doctors of Sciences, professors, 16 Candidates of Sciences (Ph.D.), associate professors and 7 teachers.

The education of specialists of all qualification levels is carried out in accordance with the Law of Ukraine “On higher education” № 1556-8 and in accordance with the CMU Resolution from April, 29 2015, № 266 “On approval of the list of knowledge branches and specialities which train higher education applicants”, knowledge branch 07 – Management and Administration, speciality code 072 – “Finance, Banking and Insurance”.

Within the speciality the Department provides specialist training in the following specializations:

• “Finance and Credit”
• “Customs Affairs and Valuation Activities”

“Finance and Credit” is a specialization that focuses on the education of qualified specialists for the state’s financial system, who must objectively appraise the economic processes occurring in society, understand the essence and trends of financial relations and their features in the sphere of international and public finance, finances of economic entities and financial and credit institutions. Financial management occupies a leading position in business practice; consequently, the entity’s level of efficiency, optimal allocation of financial resources, and making effective managerial decisions depend onthe financial manager’s activity. Specialists of this specialization are trained to carry out economic, organizational, managerial, analytical, research work in the fields of state and corporate finance, banking and insurance.

The introduction of the specialization “Customs Affairs and Valuation Activities” in 2016 is objectively conditioned by the unique geopolitical location of the Transcarpathian region, which borders on four EU member states, and therefore is topical and future-proof for university entrants. It combines knowledge of customs law of Ukraine and EU, features of foreign economic and customs management, customs control and customs clearance, as well as skills in assessing value of property and property rights, development and usage of modern technologies and models of valuation.

The places of the professional activity of graduates of the speciality «Finance, Banking and Insurance» may be the following:

• State bodies of territorial and municipal levels;
• Enterprises of different forms of ownership;
• Financial departments of regional and district state administrations;
• State Financial Inspection;
• State Treasury Service;
• State Customs Service of SFSU;
• Insurance companies;
• National Bank of Ukraine, commercial banks;
• Expert agencies; Evaluating companies;
• Social insurance funds and social security services;
• Pension (state and non-state) funds;
• Real estate agencies;
• Credit unions; Investment funds;
• Currency, financial, commodity exchanges;
• Consulting companies;
• Cash collection and transportation services;
• Higher and secondary educational establishments;
• Research institutes of economic development, etc.

The practical side of the educational process of the Department is provided by fruitful cooperation with the Financial Department of the Transcarpathian Regional State Administration, financial departments of municipal and district state administrations, leading banking institutions of the region, insurance companies, the Transcarpathian Customs of SFSU, the State Treasury bodies, the Pension Fund, financial divisions of enterprises and organizations, real estate and evaluative companies.

According to contemporary guidelines for Ukraine’s education and science development, Ukraine’s integration into the European space, the development strategy of the Department of Finance and Banking is aimed at achieving the high quality of specialist training in accordance with the requirements of the educational and qualification characteristics of a bachelor and a master in finance, banking and insurance.

The specific knowledge acquisition required in fields of state and corporate finance, banking and insurance, customs affairs, as well as mastering methods and models for the value of property and property rights appraisal will provide ample opportunities for our graduates’ employment.

The profession of financier is a winning option in terms of employment, and financial education means rapid career growth and a prestigious highly-paid job.

Thus, if your goal is to become a highly-qualified financier and you have the makings of a creative future-oriented personality, the Department of Finance and Banking at the Faculty of Economics, UzhNU, is waiting for you!