Career Research Report: Banking Industry Opportunities and Skills

This career research report focuses on the banking industry, exploring the opportunities and skills required. It discusses the impact of technological advancements, the skills and knowledge needed, and evaluates job advertisements for internships. The report provides valuable insights for individuals interested in pursuing a career in banking.

MG 410 Career Viewpoint
CW1 Career Research Report
Student George Ionescu
BNU 22102761
Group H1
Tutor Fidel Gonzalez
Submission Date 14 July 2023
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Table of Contents
INTRODUCTION……………………………………………………………………….……3
ANALYSIS AND APPLICATIONS…………………………………………………….……3
 Secondary research………………………………………………..…….....3
General trends that have impact on the chosen profession………………………….…4
 Technological Advancement…………………………………………………….….4
 Artificial intelligence…………………………………………………………….……
4
Skills / knowledge and experience required………………………………………………4
SKILLS………………………………………………………………………………………..4
 Effective Communication skill………………………………………………………4
 Leadership skills……………………………………………………………………..4
 Problem solving skills……………………………………………………………….5
 Time management…………………………………………………………………..5
KNOWLEDGE AREA AND EXPERIENCE………………………………………………..5
 Information Technology……………………………………………………………..5
 Financing……………………………………………………………………………..5
PERSONAL SKILL AUDIT………………………………………………………………….5
 Primary research……………………………………………………………….……6
Evaluation of Job
advertisement…………………………………………………………...6
Evaluation…………………………………………………………………………………….6
CONCLUSION……………………………………………………………………………….7
REFERENCES………………………………………………………………………………8
APPENDICES………………………………………………………………………………..9
 APPENDIX 1 …………………………………………………………………………
9
 APPENDIX 2 -JOB DESCRIPTION………………………………………………
10
 APPENDIX 2 - JOB DESCRIPTION……………………………………….
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INTRODUCTION
Career research is a crucial component that enables individuals to gain insight into potential
future career prospects within their respective areas of expertise, occupation, and
knowledge. Furthermore, this process is undertaken by individuals to make advantageous
choices and acquire a substantial array of prospects. Once an individual completes their
qualifications, they embark on a search for job opportunities that are aligned with their field
of expertise.
Through the utilisation of career research, graduates can effectively explore the various
opportunities that are available to them in a systematic and informed manner. I have recently
obtained my postgraduate degree from a reputable MBA institution, specialising in the
disciplines of marketing and finance. As a recent graduate, I aspire to pursue opportunities
within the field that align with the knowledge and skills I acquired during my postgraduate
studies. Based on the guidance provided by my mentors and my personal observations, it is
evident that the banking industry is a rapidly expanding and evolving sector that presents
numerous prospects, particularly for individuals with a background in marketing and sales.
Hence, through the utilisation of primary and secondary research, I have identified a
managerial role within the banking sector.
ANALYSIS AND APPLICATIONS
The selected sector for analysis is banking, which encompasses the management of credit,
cash, and various other financial transactions. Furthermore, it offers a secure and protected
environment for the storage of credit and currency, while also providing a range of financial
services such as checking accounts, savings accounts, and certificates of deposit. The
COVID-19 pandemic has resulted in a significant increase in the growth of the banking
industry, as individuals increasingly utilise online banking and digital payment options to fulfil
their financial transactions (Bilik, 2020). Currently, banks are developing their own
applications to provide customers with a user-friendly and convenient means of access. It
has been determined that the banking industry plays a significant role in the expansion of the
United States economy. Therefore, banking as a profession is a suitable and appropriate
career path that contributes to the employment and personal development of individuals. To
conduct a comprehensive evaluation of career choices and internships in the banking sector,
both primary and secondary research have been undertaken, as outlined below:
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 Secondary research - The act of collecting data that has already been published
and is readily available on many different platforms such as the internet, books,
magazines, and other mediums is widely recognised as a productive and commonly
employed research method. Furthermore, it can be referred to as secondary
information that allows individuals to acquire reliable and authentic comprehension
and expertise on a specific subject matter. The predominant method for collecting
secondary data is through the utilisation of internet resources and web pages.
General trends that have impact on the chosen profession
The chosen occupation involves pursuing a career as a bank manager, which is achieved
through the initiation of an internship at a reputable financial institution that carries out
various operations. In the banking industry, there exist a multitude of responsibilities and
obligations, including but not limited to cash collection, credit provision, loan approval, and
ensuring the security of online banking systems. The employees carry out these
responsibilities under the guidance of bank managers to increase the number of clients. The
banking industry is characterised by its dynamic nature and is experiencing significant
growth due to the increasing adoption of digital and online banking services by individuals.
The following section presents an overview of the significant trends observed within the
banking industry:
 Technological Advancement: The occurrence of this change can be attributed to
the advancements and enhancements in technology, which are considered
significant. The banking industry is significantly impacted by innovations in
technology in a favourable manner. Banks have introduced various technological
advancements in their services, such as mobile banking, Unified Payments Interface
(UPI), the creation of proprietary applications, and digital transactions (Branan &
Wheeler, 2018). This trend facilitates the banking industry in achieving higher growth
rates, which in turn directly contributes to the overall development of the economy.
 Artificial intelligence: It has been observed that a significant number of nationalised
and private banks have embraced the utilisation of machine learning and chatbots to
enhance customer support services. It has been determined that chatbots represent
a burgeoning and evolving trend that is projected to experience significant growth.
Skills / knowledge and experience required.
SKILLS:
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 Effective Communication skill - Effective communication skills are of great
importance for individuals as they enable the conveyance of messages or information
to others in a clear and appropriate manner.
 Leadership skills - As a bank manager, one is tasked with a range of duties and the
responsibility of effectively leading a team. In this context, leadership skills facilitate
an individual's ability to effectively guide and instruct their subordinates, ensuring that
each activity is executed proficiently.
 Problem solving skills - In the position of a bank manager, it is common for issues
and problems to arise, necessitating the ability to effectively address and resolve
them (Vondracek, Lerner, & Schulenberg, 2019).
 Time management - One of the most crucial employability skills is the ability to
effectively manage time to accomplish objectives within specified timeframes.
KNOWLEDGE AREA AND EXPERIENCE
 Information Technology - It has been established that technology is significantly
transforming the banking sector, thereby elevating the expectations of both
employees and customers in terms of acquiring knowledge and conducting banking
transactions with ease and convenience.
 Financing - One crucial requirement for individuals aspiring to become bank
managers is possessing a thorough understanding of the banking industry and the
ability to effectively carry out managerial responsibilities. It encompasses a range of
activities related to the exchange of monetary resources (Hirschi & Pang, 2020). In
the context of a banking internship, it is imperative for professionals to possess the
necessary skills and knowledge to effectively manage financial matters. This ensures
that activities are executed in a meticulous manner, devoid of any potential
complications.
PERSONAL SKILL AUDIT
1. Bad
2. Not Bad
3. Average
4. Good
5. Very Good
Skills (Personal 1 2 3 4 5
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Audit
Questionnaire)
Effective
Communicatio
n skills
yes
Leadership
skills
yes
Problem
solving skills
yes
Time
management
yes
Adaptability yes
Technical skills yes
Finance yes
 Primary research - Primary research refers to the acquisition of original and
firsthand information by researchers from various sources for the purpose of data
collection. According to Laudel and Bielick (2019), primary information can be
collected through various methods such as interviews, questionnaires, and focus
groups. To gather primary data, I engaged with the financial institution's manager of
HSBC to discuss the selection of a suitable and optimal approach. The transcript of
the interview is provided in the appendix section.
Evaluation of Job advertisement
I have recently completed my Master of Business Administration (MBA) degree with a
specialisation in marketing and finance. Currently, I am actively seeking employment
opportunities that will allow me to effectively utilise my acquired skills while also facilitating
continuous learning and the acquisition of new concepts and knowledge. HSBC is a well-
established institution that offers opportunities for both professional and personal growth.
The organisation in question is currently providing internship opportunities to students. In my
opinion, acquiring specialist expertise and abilities is crucial prior to securing employment. I
have successfully obtained a Master of Business Administration (MBA) degree and aspire to
pursue a career in the banking industry. Upon reviewing the job advertising of HSBC, I find
that it aligns well with my qualifications and professional objectives.
Evaluation
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As a beginner, I am seeking to engage in a professional capacity and navigate the
practicalities of the business environment. I have recently completed my post-graduate
studies in the fields of marketing and finance, marking a significant milestone in my
academic journey. This achievement has now presented me with the opportunity to carefully
consider and select a career path that aligns with my future aspirations. To acquire
information regarding career opportunities within my field, I conducted research utilising both
primary and secondary methodologies (Guo, Wang, & Wang, 2019). Through research and
career analysis, I have discovered that the banking sector currently offers the most
promising job opportunities and is experiencing rapid growth. This is particularly
advantageous for individuals who are new to the industry or just starting their careers. The
banking industry is undergoing transformation in response to evolving technology, with a
particular emphasis on attracting new talent to foster the development of innovative ideas
aimed at delivering high-quality services to customers. Furthermore, it has been established
that various skills are necessary to seize opportunities and effectively fulfil job
responsibilities. The skills encompass effective communication and interaction, team
management, technical proficiency, research acumen, leadership capabilities, problem-
solving aptitude, and various other competencies. Hence, through extensive research, I have
discovered a valuable internship opportunity at a prestigious bank. This opportunity not only
offers the potential to enhance my employability skills but also facilitates personal and
professional growth.
CONCLUSION
Based on the previous investigation, it has been determined that employment research is a
crucial factor in acquiring information regarding career prospects and ensuring a favourable
future for an individual. Furthermore, a career research report aids individuals in
comprehending and analysing prevailing trends within a particular industry, as well as the
desired job position, they seek. Furthermore, it allows individuals to enhance their abilities to
align with the required skill set in the current business landscape. Furthermore, it is
imperative for individuals to possess employability skills, including but not limited to
successful communication, team management, and conflict resolution. These skills are
crucial to secure optimal opportunities within the highly competitive job market.
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REFERENCES
Books & Journal
Banerjee, P., Saini, G.K. and Kalyanaram, G., 2020. The role of brands in recruitment:
mediating role of employer brand equity. Asia Pacific Journal of Human Resources, 58(2),
pp.173-196.
Bilik, O.,and et. al., 2020. Identifying trends, patterns, and collaborations in nursing career
research: A bibliometric snapshot (1980–2017). Collegian, 27(1), pp.40-48.
Branan, J., Li, X. and Wheeler, R., 2018. Building a career planning course for STEM PhDs.
Nature Biotechnology, 36(12), pp.1217-1219.
Chongwony, L., Gardner, J. L. and Tope, A., 2020. Instructional Design Leadership and
Management Competencies: Job Description Analysis. Online Journal of Distance Learning
Administration, 23(1), p.n1.
Gernreich, C. C. and Ahlfeld, C., 2020. Five Topics for Which Industry Needs Innovation
Managers: A Job Advertisement Analysis. In ISPIM Conference Proceedings (pp. 1- 13). The
International Society for Professional Innovation Management (ISPIM).
Guo, W., Wang, L. and Wang, N., 2019. Research on the impact of career management fit
on career success. Asia Pacific Journal of Human Resources.
HIRSCHI, A. and PANG, D., 2020. Career development of older workers and retirees.
Career Development and Counselling: Putting Theory and Research to Work, p.437.
Laudel, G. and Bielick, J., 2019. How do field-specific research practices affect mobility
decisions of early career researchers? Research Policy, 48(9), p.103800.
Lim, S.J., and et. al., 2020. The Study of Job Market by Analysis of the Recruitment
Advertisement for Occupational Therapy. Therapeutic Science for Rehabilitation, 9(2), pp.39-
53.
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Muruganantham, G., Antony, S. P., and George, E.P., 2020. Understanding job and
organizational attributes as signals from recruitment advertisement. Journal of Indian
Business Research.
Nickel, B.L., and et. al., 2018. Identifying managerial roles of general surgery coordinators:
making the case for utilization of a standardized job description framework. Journal of
surgical education, 75(6), pp. e38-e46.
Vondracek, F. W., Lerner, R.M. and Schulenberg, J.E., 2019. Career development: A life-
span developmental approach. Routledge.
APPENDICES
Appendix 1
Name of contact George Ionescu
Company HSBC
Job tittle Bank manager
Date of contact 30 JUNE,2023
How did you contact them During my exploration of various job
portals, I came across an enticing
opportunity offered by HSBC, which
involves the provision of training.
Subsequently, I initiated contact via the
provided email address to gather
additional information.
Question asked What has been the growth of the
respective organisation in previous
years?
What are the diverse advantages
associated with pursuing a career in the
field of marketing?
Summary of response In my opinion, the organisation is
experiencing significant growth and
development in the marketplace. Also,
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the organisation incorporates innovative
technology to enhance its customer
service capabilities.
APPENDIX 2
JOB DESCRIPTION
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Organisation Name: HSBC
Post: Banking intern
Roles and Responsibilities
 Manage cash and credit.
 Create accounts of all types
 Be able to analyse present banking trends.
 Deal with customers and offer them best solution to save their money.
Required Qualification
 Graduation from an affiliated university

Appendix 3
CURRICULUM VITAE
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