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Baby Steps In Banking
Congratulations! You have laboured hard and long to get into the banking industry and now that you are here, it is time to earn your keep. Here are some baby steps to help you prepare for the stumbles and tumbles of the financial industry.
Banks have grown in complexity and evolved through the times to cater to various needs, offering increasing amounts of products and services along with countless variations as each bank tries to outdo the competition.
Nonetheless, the financial sector is known as one of the most lucrative sectors and the sheer number of products offered by a bank means that there is always an opportunity to learn something every step of the way.
While they are commonly depicted as white collar workers or custodians of the people’s hard earned savings or sometimes even thought of as pushy salespeople for various credit cards, the banking industry encompasses billions of dollars and have more audits and regulations than any other industry.
Cradle of success
As the banking industry deals, trades and handles copious amounts of monetary transactions, in both physical and digital form, giving due care in your daily activities is a fundamental core of banking.
After all, any mistakes done will quickly snowball into dire consequences, requiring tedious re-work which wastes precious hours and perhaps even loss of customers and hefty fines from Bank Negara Malaysia (BNM) for breach of confidentiality. Remember, no work is too menial and every task should be performed effectively and efficiently.
A banker should also never be afraid to work overtime or perform tasks outside of their usual scope of work. Ad-hoc projects and reports are part and parcel of the job as everyone strives for continuous improvement through a review of past practices. Embrace these unique one-off tasks as opportunities to further strengthen your pool of capabilities.
Otherwise, do not be daunted by the many abbreviations and jargons which bankers use in their day-to-day operations. No matter your rank, a quick grasp and mastery of the vast banking knowledge is core to succeeding at work.
Finally, a core value to succeed would be the ability to connect with others and build a strong network. The diversity in the banking industry means that you will get the chance to meet and work with people from all age groups, various ethnicity as well as diverse religions. Get to know the senior management as they are able to provide a vast pool of knowledge that is ready to be tapped as well as insightful glimpses into seeing the bigger picture.