Banking Jobs

Banking jobs have become lucrative around the world, as the finance industry places a bigger and bigger role in the global economy. The tacit merger of the banking and financial services has given a new look to the banking jobs and the career has grown more stable as the industry is destined to look forward to new global prospects.

Types of banking jobs:

Banking jobs have become lucrative around the world, as the finance industry places a bigger and bigger role in the global economy. The tacit merger of the banking and financial services has given a new look to the banking jobs and the career has grown more stable as the industry is destined to look forward to new global prospects.

Types of banking jobs:

A career in banking is the most sought after vocation nowadays. Banks have not only expanded the number of branches but also diversified the quantum of services it provides. This gives rise to a new universe of banking jobs. Bankers have an awesome opportunity to work with one of the best industries globally. Most of the banking jobs require excellent analytical skills and the ability to respond quickly but certain posts require specific understanding of affairs. Some of the most common banking jobs are sorted out below:
 

• Analyst– An analyst is obliged to work in conjunction with senior management to provide useful insights about products and prices to suggest a profitable strategy for a business. This type of banking jobs requires thorough understanding of financial models as the client may need recommendation and explanation of the results. The eligibility for an analyst includes great aptitude, strong theoretical and practical knowledge of financial models and case studies, thorough knowledge of Excel, outstanding commercial acumen and adroitness in upgrading pure analysis into intelligent business decisions. An additional qualification in finance, mathematics, accountancy, economics and/or statistics is preferable. Time management and prior experience in project coordination no doubt serves the purpose to a great extent as the gestation period for implementing policy and programs is usually shorter than ideal.

• Investment Bankers– The job includes smooth delivery of premium services to clients. One has to deal with everything from technical financial modeling to writing credit papers. The mandatory requirement for investment banking jobs is great affinity for property investment. The second most important criteria for investment banking is to possess sound business development skills as portfolio building besides mortgage broking is also an important part of their job. Salient communication detail to generate team work is also required. A degree in business or commerce with special weightage in finance is highly preferable.

• Stockbroker- A stockbroker helps small and medium capital raising entities. Stockbroking is a very transactional occupation. The responsibility of a stockbroker is to assists his clients by providing opportunities to participate in private placements and floats and the stockbroker’s efficiency is measured on the yardstick of performance of his client’s portfolios. The job involves arbitrating with settlements and accounts and resolving client queries. For being a successful stockbroker, one needs to have quality kinship with the stockbroking world(asset administration) and a passion for sorting out the queries of people.

• Risk Management– One has the options to work in risk, internal audit or BCM. This variety of banking jobs requires strategical thinking and strong ability to advice and shape decisions. This position also may involve risk analytics. Risk analytics is a broad subject which includes portfolio analysis, profitability modeling, scorecard management etc. Being tech-savvy is an advantage in case of risk management. Advance knowledge of the various aspects of MS Office is a must. Prior experience in data interpretation using SAS, SPSS and SQL is desirable.

• Human Resource– human resource is an integral part of any organization but in case of the banking sector, their role is particularly important. This is so because teamwork is the key in banks. The success of front office and back office in a bank are stitched to one another. Bankers can perform their best only when the research analysts provide them with infallible insights and vice versa. The responsibility of human resource managers include not only attracting but also developing and retaining the work force. A person applying for banking jobs in human resource area must be equipped with tactics to help the bank work out plans to provide benefits, commitment and satisfaction to its associates.

• Sales- Sales and service representative is one of the fastest moving banking jobs. People employed in product development groups work in highly rewarding environment. They inform existing and potential customers about the usefulness of the bank’s products and thus help to increase the market share of the bank. Besides providing information, they also persuade customers to use the products and services of the particular bank. A salesperson must have strong interpersonal skills, negotiating and relationship building capabilities. Teamwork is highly preferred as one works in a closely aligned team under a team leader in a target driven environment.

• Technology- Technology has become an integral part of every bank and the technological superiority carries huge importance in enhancing the quality of products and services that the bank offers. IT professionals are a must for every bank. An IT professional needs to have a sound understanding of the software and hardware used in the bank. Prior experience in providing technological solutions is preferred but freshers are also in demand.

Reasons for interest in banking jobs:

• Globalization is what most banks are looking forward to. Sophisticated services like corporate and investment banking are provided to overseas clients. Most banks have branches in a number of countries and maintain relationships with eminent companies in diverse sectors. This gives a person getting into banking jobs an opportunity to enlarge his prospects and boost his knowledge.
   
• A bank helps an individual to diversify his knowledge and experience. All renowned banks recognize affinity groups i.e. associates with similar interests. So one getting into one of the banking jobs gets the opportunity to deal with varied people and are serving varied interests. Diversified networks of many banks aid this type of broad mindset. It identifies upshots and issues and suggests policy prescriptions to help the bank grow well even in unharmonious situations.
   
• The monetary benefits from banking jobs are comparable to any other sector. Beside huge compensations, bonuses and incentives add up to substantial amount.
   
• Besides huge pay packets banks also support their employees with varieties of medical, dental and vision plans and insurance coverage is provided for disability, accidental death and dismemberment, accident during business travel etc. Retirement and pension plans are also usually provided by the bank itself. Banks also help their employees by lending them in terms of mortgages.

Banking jobs are a fine career if one is looking at a long term relationship with it. One need not even go out for filling up an application as most banks accept resumes along with a profile that can be established by creating an online account. Besides the basic requirements, a bank asks for authorized documents, fulfillment of certain legal conditions and a screening for illegal drugs. So a decision to enter a bank is an absolutely rational idea as the future is expected to be bright.