Baby Steps In Banking
The financial sector is one of the most lucrative sectors, and the number of products – new or rebranded – grows, both in amount and complexity, evolving through the times to cater to various needs as each bank tries to outdo the competition.
And as far as its reputation goes, the banking industry is also filled with a lot more audits and regulations than any other industry. This is to ensure that the billions of dollars it is responsible for are protected and properly managed by the respective workers. by the banks means that there is always an opportunity to learn something every step of the way.
So, what are some baby steps that you should be ready to take?
Every task is important
As the banking industry deals, trades and handles copious amounts of monetary transactions, in both physical and digital form, practising due care in your day-to-day tasks is a necessity. Security of privacy is, after all, the utmost importance when it comes to dealing with your customers and their money.
Bear in mind that any mistakes done could quickly snowball into dire consequences, and fixing them would require tedious re-work. This means a lot of precious hours will be wasted, not to mention the possibility of losing customers and receiving fines from Bank Negara Malaysia (BNM) for breach of confidentiality. Remember: no work is too small or menial, and you should perform every task efficiently and professionally.
Take all the challenges head on!
A banker should be prepared to face the overtime demands when things get busy at the office, as well as performing the tasks that are not within their usual scope of work. Everyone is striving for continuous improvement through a review of past performance, so ad-hoc projects and reports are part and parcel of the job. Learning to embrace these one-off tasks as opportunities to add on to your professional development.
On the other hand, familiarise yourself with the many banker’s abbreviations and jargons in day-to-day operations. Regardless of your rank, having a quick grasp and understanding of the vast banking knowledge is one of the keys to success in this line of work.
Start creating your professional network
Having the ability to connect with everyone within your professional surrounding and build a strong network is a strong core value in order for you to be successful in banking. The diversity within the banking industry; from different ethnicities to religions to different age groups means that you will have the opportunity to broaden your views and knowledge. Be proactive in approaching the senior management as they have a vast pool of knowledge that is ready for you to tap in, as well as insightful views into seeing the bigger picture.
There are definitely more baby steps that will come after this, but we believe that once you are able to equip yourself with the mindset that everything is possible as long as you persevere, come hell or high water, you will be able to go through these steps in order to become a successful banker in the end.