Career in Banking: Job Profile and Skills required

The growth of banking sector in India is almost immeasurable with both online and offline operations in full swing. Private and public banks along with Indian and foreign banks are multiplying and so are the services provided by them. This sector demands developing of highly customer oriented services and so, the need for manpower too has shot up. Consequently, banks are hiring banking professionals in large numbers to meet the growing requirements.

There are plenty of banking jobs available across all the levels i.e. entry level, mid level and senior level. They could be listed as:

-Bank Managers

He is responsible for efficient running of branch operations, staff management and profit generation. He is also required to make sure that branch staff representatives are able to offer user friendly solutions based on good understanding of customer’s needs. Customization of services is paramount in banking to drive customer attention towards your own products and services.

-Fund Managers

He is primarily responsible for looking into investments for long term growth by investing money from pension funds, insurance companies and unit trusts in a profitable manner. He is an expert of specific geographical market or industry who liaises with investment analysts; researches and manages investment strategies; applies investment analysis, etc.

• Skills Required

He possesses good communication skills and analytical abilities that enable him to manage clients. Knowledge of at least one of the foreign languages is given high preference.

-Investment Analysts

They are the people who provide important market information to traders, salespeople and clients. They analyze annual results of a company, prepare reports on potential investment sectors and are specialists of one particular sector.

• Skills Required

For success in this field, in addition to communication and analytical skills, one must have good writing skills, ability to pay attention to detail, persistence and pressure handling ability.

-Investment Bankers

They are required for both corporate finance and operations purposes.

-Investment Bankers (Corporate Finance)

The role of investment bankers in corporate finance is to help corporates, institutions and government achieve financial goals. They conduct financial analysis, advice and lead management buyouts, assist in financing and managing mergers and acquisitions, identify and secure business prospects and raise funds on capital markets. Team coordination and meetings with top management are vital here.

-Investment Bankers (Operations)

Operations investment bankers support front office by checking trades and transacting transfers. Their job involves dealing with client queries, supervising teams and dealing with system problems. They also clear and settle everyday transactions and act as an interface with other divisions of the bank.

-Skills Required

Both fields of investment banking ask for strong analytical skills, excellent communication skills, IT competence, problem solving skills, project and time management skills, good writing ability, etc.

-Financial Managers

The job of a financial manager is to help formulate and implement financial policies. He makes business forecasts, manage different branches of the bank, prepares financial reports and monitor cash flow. The jobs of controllers, treasurers, credit managers, cash managers and insurance or risk managers are also included in the profile of financial managers.

-Jobs for Financial Engineers are also coming up and involve creating methods that address problems of derivative securities valuation, strategic planning and dynamic investment strategies.

Banks offer jobs in other segments as well.

One can work as customer relations executive, credit control executive, corporate banking executive, typist, secretary, file clerk, custodian, messenger, receptionist and safe deposit attendants.

Operational division of a bank has jobs related to bank operations, consumer credit department, commercial and industrial loans, security analysts other trust departments, market research, public relations and customers services.

Other functions include transit clerks, book-keepers, bank tellers, loan officers and other bank work.