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13 February 2019

Develop Your skills for Banking job - Essential Skills Required for Banking Sector Jobs


Develop Your skills for Banking job

The banking industry has been consistently evolving. With the changing business and regulatory environment, innovation has become the key focus area for most organisations. In such a scenario, banks need to continuously evolve their processes, systems and also develop employees in line with changing customer needs and demands. The magnitude of change seen in banking sector in past five years is unprecedented. In addition to the core banking skills, banks now want a workforce equipped with new age skills viz digital agility, data science/analytics, design thinking, cyber risk and artificial intelligence.

Along with the acquiring specific skills and expertise, one should always remember the importance of primary skills that are must to secure a banking job. Here are a few such skills required for a banking job:

Develop Your skills for Banking job
Job readiness: Job readiness is the combination of knowledge and ability to provide effective solutions to address business needs. It is important that one has a complete understanding of the business environment and is constantly learning & adapting to the changing context. Albert Einstein said, “I have no special talent. I am only passionately curious.” Curiosity leads to invention of new product, service, and innovative way to address customers. It always work to be curious and be open to learn and adapt new things.

Communication prowess In banking industry communication is the key to success. Being a good communicator is an important skill to develop for a job in the banking sector.

Interpersonal competence Whether it is a desk assignment or a field job, it is crucial to be a team player to achieve a particular goal. In a team you might have to wear multiple hats — that of a team leader, an active listener, or someone who can drive the whole team through a challenge. If you know which of these skills you are best at, talk about it during your interview. For example, for a job in sales, you would require skills to develop a good rapport and persuade a probable buyer, or, for a job in HR, you might require skills around mediation or providing motivation.

Analytical skills In a world where loads of data is generated every minute, it is important to assess, deduce and select the data that will be of use, i.e to select the right data in the world of big data. Further to selecting the right data, you would also have to understand how to put it to task by crafting a product or solution to lessen the challenges faced by the bank. This can range anywhere from mapping the demography where credit products are required to battling a challenge of data/security breach. Hence, if you are able to work with data and understand how to put it to the right use, you are apt for a job in banking. A positive amalgamation of all these skills, will help you take one step closer to finding the right job in the banking sector.

An aptitude for leadership
One is expected to navigate through complexities and resolve the problem at hand in the shortest possible time and provide efficient solutions. The ability to work in an ambiguous situation with limited and often incomplete information with dependency on various internal/external factors is not a skill which one can acquire through theoretical knowledge. This skill/ability comes by actually working on real life problems and learning from every such experience.

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