To become a banking analyst, one needs post-secondary education, related work experience, to apply for a job, and complete the interview process. They work with banking and data analysis software, and need an affinity for numbers, attention to detail, discipline, and focus. A college degree in accounting, mathematics, business, or a related field is preferred. Proofreading resumes and cover letters is important, and credit and criminal records checks may be required. The interview process typically involves two rounds, with the first being a preliminary interview with the human resources team.
There are four steps required to become a banking analyst: post-secondary training, related work experience, applying for a job, and completing the job interview process. A banking analyst spends most of his day working with banking and data analysis software. They are responsible for filling specific reporting requirements, writing reports and exploring different scenarios.
People who have an analytical thought process, enjoy working independently, and are comfortable exploring multiple scenarios find the most satisfaction in this type of work. While banking analysts are expected to possess meeting presentation skills and good communication skills, the most important skill to have is an affinity for numbers. Attention to detail, discipline and focus are essential for anyone who wants to become a banking analyst.
The first requirement to become a banking analyst is to complete a post-secondary education program. While many companies will accept a college degree in accounting, the vast majority of banking companies prefer a college degree. The degree can be in accounting, mathematics, business or a related field. The banking industry is notoriously conservative and it is very unlikely to become a banking analyst without this type of formal training.
Related work experience includes accountancy, bookkeeping, data entry, software operator or bank teller. All these jobs require work with numbers and computers. When applying for your first job, look for internship or junior analyst positions. While the salary may be less, you are more likely to qualify for this type of role and gain valuable experience.
When applying for a job as a banking analyst, be sure to proofread your resume and cover letter for any grammar or spelling errors. Research the company and try to tailor your cover letter to their specific needs and requirements. It is becoming more and more common for banking companies to require a credit check and criminal records check as part of the application process. Keep this in mind when applying.
During the job interview process, most banks have at least two rounds of interviews. The first round is with the human resources team and is a preliminary interview. They have a standard list of questions and look for complete and concise answers. Remember that everything you say will be noted and reviewed. Think about your answers, stay calm and focus on the skills you bring and how you can help the bank.
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