Career Research Report: Banking Industry Opportunities and Skills

MG 410 Career Viewpoint
CW1 Career Research Report
Student George Ionescu
BNU 22102761
Group H1
Tutor Fidel Gonzalez
Submission Date 14 July 2023
1

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……………………………………….
……..11
2

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:
3

 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:
4