How do I Become a Banking Analyst?

There are four steps required to become a banking analyst: post-secondary training, related work experience, apply for a job, and complete the job interview process. A banking analyst spends the majority of her day working with banking and data analysis software. They are responsible for completing specific reporting requirements, writing reports, and exploring different scenarios.

People who are have an analytical thought process, enjoy working independently, and are comfortable exploring multiple scenarios find the greatest satisfaction in this type of work. Although banking analysts are expected to have presentation skills for meetings and to have good communication skills, the more important skill to have is an affinity for numbers. Attention to detail, discipline, and focus are all 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. Although many firms will accept a college diploma in accounting, the vast majority of banking firms prefer a university degree. The degree can be in accounting, math, 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 accounting, bookkeeping, data entry, computer software operator, or banking teller. All of these jobs require working with numbers and computers. When applying for your first job, look for internship or junior analyst positions. Although the salary may be less, you have a better chance of qualifying for this type of role and can gain valuable experience.

When applying for a job as a banking analyst, be sure to proofread your resume and cover letter, double checking for any grammar or spelling mistakes. Research the company and try to tailor your cover letter to their specific needs and requirements. It is becoming increasingly common for banking firms to require a credit 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 staff and is a preliminary interview. They have a standard list of questions and are looking for complete, concise responses. Keep in mind that everything you say will be written down and reviewed. Think about your answers, stay calm, and focus on the skills you bring and how you can help the bank.