How to succeed as an analyst in the banking sector

Posting date: 21 February 2022

The advancement of technology has had a dramatic impact on the ways banks and financial institutions solve problems and address various business issues. As a result, the need for a highly skilled and qualified analyst has become all the more important. These technical experts are a great addition to any banking team, providing business analysis and using data and research to support fund managers and traders with their investments. With the ever-changing nature of finance, investment banking and financial analysts continue to be in high demand.

What is the role of an investment banking analyst?

Investment analysts play a key role in the banking world. These professionals are tasked with researching, analysing and collecting information to help managers build a successful investment portfolio and make effective decisions on behalf of clients. Analysts often work on multiple projects at once and specialise in a particular sector, and the role requires excellent quantitative and qualitative analytical skills. These professionals are responsible for analysing sales figures and other data that can’t be easily measured, such as the performance of a campaign or product. So, what can professionals do to succeed as an analyst in the banking sector?

Constantly build new skills and knowledge

It’s important that analysts have a deep understanding of the financial market and continually build their knowledge over time. Professionals must keep up with market developments, new investments and any other areas that have an impact on the market. Analysts must also have a strong knowledge of risk and compliance policies, as many of these roles involve maintaining and improving credit risk strategies. The financial sector is always evolving with rapid changes in technology, so analysts need to be adaptable and understand different innovations. In any industry, professionals need to develop the habit of acquiring new skills and knowledge to help them succeed in their roles.

Master technical skills

There’s no doubt having an excellent grasp of core technical skills are highly important if you want to succeed as an analyst in banking. For example, professionals need to understand how to use bookkeeping and accounting software, such as SQL and QuickBooks, as well as other relevant software. Technical skills can also include the ability to learn financial applications that help manage budgets and investments. Analysts will also need to function independently and provide accurate financial reports. Therefore, it’s essential that these professionals are highly competent technicians.

Gain a big picture perspective

Although being an analyst requires exceptional attention to detail, professionals must have an executive-level mindset and view the business as one entity. It’s often the case that professionals focus more on their specific job function and the needs of the department. However, as an analyst in banking, professionals need to be able to assess the company’s financial standing as a whole to make effective and decisive judgements. The ability to think in broader terms is crucial for success as an analyst.

Are you looking for a new role in banking?

Swisslinx is a leading recruitment consultancy, specialising in financial services and other recruitment markets such as healthcare and digital and technology. We’ve established ourselves as a leading talent partner and we serve as a top supplier to many financial institutions around the world. Our consultants are highly experienced with strong knowledge of the market and they understand how to meet the high standards of our clients. We’ve built excellent relationships with those we work with and as a business, we’re always looking to grow. If you’d like to know more about our services, contact us today and browse our finance and banking jobs or compliance jobs.

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