LinkedIn shares 6 technical skills required to excel in banking sector
Landing a job in a bank is no easy task. If you are willing to apply for jobs in the banking sector, you must check out the six technical skills shared by LinkedIn to excel in it.
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Financial Analysis: The process of interpreting and evaluating financial statements, understanding cash flow, and conducting ratio analysis is what financial analysis skills are all about. These skills allow you to assess the financial health of individuals or businesses.
Regulatory Acumen: If you want to work in the banking sector or excel in it, you must familiarize yourself with laws and regulations such as the Dodd-Frank Act, the Sarbanes-Oxley Act (SOX), and anti-money laundering (AML) protocols.
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Technology Proficiency: You should be familiar with digital banking platforms, cybersecurity principles, and data analysis software. Knowledge of programming languages like SQL for database management or Python for data analysis can be particularly beneficial.
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Risk Management: Identifying, assessing, and mitigating financial risks. This means understanding market, credit, operational, and liquidity risks in banking. Technical risk modelling, stress testing, and risk management software skills are vital.
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Product Knowledge: A deep understanding of banking products is necessary to get a good grip on the banking sector. You should be knowledgeable about different types of loans, mortgages, investments, and insurance products.
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Client Interaction: Communicating with clients is considered a skill. I am proficient in customer relationship management (CRM) systems and communication tools to provide high-quality service.