5 Quintessential Traits in Banking and Finance
By Geralyne Kaye
The Banking and Finance sector offers a fast-paced and rewarding career to those driven and tenacious enough to venture into it.
Here are five key skills you will need to succeed in this lucrative industry.
From accountants to finance assistants, number crunching is a fundamental aspect of the banking and finance profession. Numeral aptitude will definitely go a long way if you are in the business of monitoring stocks and bond portfolios for your clients. In addition, it would help if you were proficient in basic programs like Microsoft Excel or SPSS Statistics, which are useful when drawing up reports and monthly figures.
Communication, meticulous planning and attentiveness are all part of good client servicing. Communication skills are especially pertinent for private bankers and frontline staff who meet clients on a daily basis.
Given the amount of laws governing the finance sector, misunderstandings due to a lack of communication or comprehension skills on your part can result in dire repercussions. Not everyone you meet is conversant with business jargons, which makes explaining policies or investments to a client all the more vital.
You should also be able to monitor multiple client portfolios and file any necessary paperwork efficiently. Planning ahead and anticipating your client’s needs could save you from a lot of headaches and late nights in the office.
Many successful professionals in this industry keep themselves up-to-date with the latest movers and shakers in the financial market. They have strong knowledge of overseas financial markets and are able to foresee how they might affect the local economy. In practice, it also applies to having insights on another country’s business culture and being comfortable with handling business transactions in a foreign country.
Risk management occurs everywhere in the financial sphere. Analysts in the risk department are typically involved in the implementation and development of processes, tools and systems to identify, assess, report, measure and monitor risks. The job can also entail providing financial advice to support local and foreign business units in decision-making. As such, you should be able to prepare business performance metrics, estimates and forecasts.
Grit and Tenacity
Given the fast-paced and high-pressure environment in the banking and finance sector, it takes more than just technical proficiency to succeed. For instance, many investment and banking professionals thrive in their jobs by persevering through tight deadlines and ever-changing client decisions. Tenacious people recognise setbacks as challenges to overcome, and they accept constructive feedback to work towards improvement.
Do you have what it takes to flourish in this industry? Discover all Banking and Finance jobs here.