MG410 Career Viewpoint: A Research Report on Trends in Banking

This report provides a comprehensive analysis of the banking profession, focusing on the skills, knowledge, and experience required for a recent graduate to enter the field. It explores general trends influencing the industry, such as the impact of globalization and technology, and their implications for the skills needed by banking professionals. The report highlights essential skills like communication, interpersonal abilities, teamwork, adaptability, problem-solving, marketing acumen, and financial expertise. It includes primary research evidence from an interview with a customer relationship manager, offering insights into the practical aspects of the profession. The evaluation section assesses the suitability of the customer relationship manager role, aligning it with the author's skills and career aspirations. In conclusion, the report emphasizes the importance of continuous learning and adaptation to thrive in the dynamic banking industry. Desklib provides a platform for students to access similar reports and study materials.

Career Viewpoint
MG410
CW1 – Career Research Report
1

Contents
Introduction.........................................................................................................................................3
MAIN BODY........................................................................................................................................4
Analysis and Application.......................................................................................................................4
General trends which will impact on your chosen profession/industry..............................................4
The required skills, experience and knowledge.................................................................................6
Evaluation............................................................................................................................................8
Conclusion............................................................................................................................................9
Reference list......................................................................................................................................10
Appendices.........................................................................................................................................11
Appendix 1: Primary Research Evidence....................................................................................11
2

Introduction
It is important for an individual to decide specific profession and field in which they wat to
build their career. It provides proper guidance and direction to attain determined goals and
objectives in efficient manner and lead their efforts in right direction. in this report banking
profession is taken into consideration. As banking industry is considered as the one of the
most prominent industries. There are various emerging trends that are implemented by the
banking industry that enable the industry to provide better quality services to its customers
that retain them with organisation for longer period of time. Banking industry is growing at
very fast rate in UK so, number of people are willing to work in this industry to lead their
career in right direction. As a candidate, I keen to apply in this industry, so I have conducted
an analysis that includes primary as well as secondary research that provide range of
information related to the industry. This report covers some general trends in banking sector
as well as its impact on globalisation and improvement in technological aspects. Along with
that different skills and capabilities that are essential to attain prominent job positioning in the
banking industry are mentioned in this project report.
3

MAIN BODY
Analysis and Application
General trends which will impact on your chosen profession/industry
As per the survey, it has been cleared that there are various factors and dimensions that that
impact the banking industry in various manner. Digital transformation, globalisation as well
as revenue growth are some specific factors that need to consider by the banking sector to run
its operations in efficient manner and attain determined goals and objectives properly. These
general trends also impact the skill of employees who are willing to create their career in
baking industry. These factors are mentioned below:
Impact of globalisation: As globalisation is related to conducting banking operations
outside the national boundaries. In current business environment international baking is
become attracted due to various factors such as interest of career option, growth and
development opportunities and the sector impact the economy in various manner. There are
range of job opportunities that are provided by the baking industry (Bhandari, 2017). On the
other hand, high competition is faced by the banking sector due to homogeneous services and
diversify customer requirement. The career option that is related to the customer relationship
manager is very attractive job position because it provides various development opportunities
and facilitates skilled and capable candidate to explore use their skill to gain best outcome
explore their expertise in baking sector with the objective to get high benefits in their carer as
well as professional life. Some aspects such as high integrity as well as innovation is adopted
by the baking industry as per the trend of globalisation. It enables the industry to provide
better service to customers and providing the immense opportunities to the industry personnel
to apply for the specific job role in efficient manner. As international banking contains stable
policies that help the banks to perform their operations at global level. In the era of
globalisation, there are range of skills are required to have in candidate that make them
differentiated from other candidates and provide them prominent edge over selection for this
prevailing job profile (Burga, Leblanc, and Rezania, 2020). Level of competition at global
level also impact the set of skills of candidate as more appropriate skills are required to
perform defined job role operations in efficient manner.
Impact of technology: In current business environment, range of technologies are
used by the organisation or baking sector that enable it to perform baking operations in
4

efficient manner and fulfil needs and requirements of customers that retain them with
organisation for longer period of time. It is the most prominent trend that makes banking
sector efficient to provide better services and experience to customers. Some technologies are
adopted by the baking sector such MICR technology that is related to cheque clearing, it
plays important role in removing various obstacles in banking operations as well as reduce
the burden of banking employee. In current era, baking industry uses updated and latest
digital technology that maximise its performance level. To deal with these technologies and
aspects higher level of skills, knowledge and understanding is required from candidates that
make them able to sustain in job role and perform given operation on with great efficiency
(Gross, Jungbauer-Gans, and Nisic, 2017). Latest technology helps the industry to reach
higher number of audience and attract number of candidates towards organisation. It is
important for banking candidates to have efficient knowledge and understanding of MICR,
usage of internet that help them through enhance the chances of selection.
5

The required skills, experience and knowledge
Candidates who want to make their career in the field of banking industry must have various
skills, experience, knowledge and understanding that enable them to perform defined
operations in efficient manner. These skills, experience and knowledge are mentioned below:
Communication skills: Communication skill is considered as the highly required
skill for the individuals who are keen towards joining banking industry as their profession.
Effective communication skills enable them to interact with customer directly and convey
them all related information in efficient manner. It helps the candidates to attract as well as
persuade customers to take baking products and services.
Interpersonal skills: There are various skills are included in interpersonal skill such
as communication skill, analysing customer’s needs, requirements and maintain effective
relationship with them to retain them with bank for longer period of time (Hattori, 2019).
Baking aperients need to have this skill to perform job roles in proper manner. It is expected
from the bankers to be humble and soft so they can resolve customer’s queries in proper
manner that enhance their satisfaction level.
Teamwork: Teamwork is considered as the most important skill that need to have in
individuals who are preparing for baking. As banking industry perform its operations as a
team to attain determined goals and objectives in efficient manner. The concept of teamwork
is related to managing operations and members of team and delegating suitable role and
responsibilities to them as per their capabilities. This is the skill that is required to enhance
performance level and completing assigning task in efficient manner.
Adaptability: Adoptability is the skill that is related to the nature of adoption and
acceptance of changes in efficient manner. In the current trends of globalisation and
technological innovation, adoptability is the skill that is required from banking aperients to
implement changes in proper way. It is the skill that facilitates candidates to get their job
position in banking industry.
Problem solving: Problem-solving skill is related to resolve problem in efficient
manner as per the situation. In banking industry this skill consists solving customer
grievances that satisfy them and retain with organisation (Jessop, 2020). In banking sector,
employees are recruited on the bases of these skills that enable them to resolve problems and
deal with critical situation with efficiency.
6

Marketing skills: This skill is related to the skill that is related to promoting
organisational products and services, communicating with customers, developing marketing
strategies as well as implement them in baking industry for maintaining efficient and string
positioning in market place. Marketing experience and skill are required from the candidates
to develop efficient marketing strategies for baking industry that enable it to attract higher
number of customers and enhance their loyalty level
Financial skills: Banking industry consists various operations related to accounting
so it is important for the banking aperients to have skills and finance experience that enable
them to operate baking functions related books keeping and maintaining financial records.
Candidates who willing to make their career in baking industry must have command over
accounting so they can perform their job related operations in efficient manner.
7

Evaluation
In context of banking industry, customer relationship manager job role is suitable for me as it
suits to my requirement, skills and capability. On basis of this job role, I will be able to
explore my career opportunity in banking industry and as a marketing personnel, I will get
opportunity to enhance my interpersonal as well as communication skill. In banking industry,
I will get opportunity to develop and grow my personal and professional skill that is also
beneficial for me for enlightenment of career (Keinonen, Salonen, and Sormunen,2021). Job
position of customer relationship manager is one of prominent role in banking industry that
allow me to explore research as well as consultation career at international level.
8

Conclusion
From above mentioned project report, it can be concluded that there is various industry
existed in market among which banking industry is one of prominent industry. It is an
industry where there are various emerging trends in market. Following of these trend in
market by a person provide them competitive advantage as well as sustainability. There is
various skill, expertise and capabilities developed by a person that make them able to get a
job position and also allow them to attain opportunity to attain task in effective manner.
9

Reference list
Bhandari, K., 2017. Teaching evaluation practices: An early career practitioner's
reflections. Journal of hospitality, leisure, sport & tourism education, 20, pp.27-
31.
Burga, R., Leblanc, J. and Rezania, D., 2020. Exploring student perceptions of their readiness
for project work: utilizing social cognitive career theory. Project Management
Journal, 51(2), pp.154-164.
Gross, C., Jungbauer-Gans, M. and Nisic, N., 2017. Cooperation and Career Chances in
Science. Social Dilemmas, Institutions, and the Evolution of Cooperation, p.165.
Hattori, F., 2019. Supporting the Balance between Work and Treatment for Cancer Patients
by Career Consultants Aiming for Reconstruction of Work Life. Gan to Kagaku
ryoho. Cancer & Chemotherapy, 46(10), pp.1482-1485.
Jessop, B., 2020. Intellectual Career. Routledge Handbook of Marxism and Post-Marxism.
Keinonen, T., Salonen, A. and Sormunen, K.,2021. Counsellors Support in Promoting
Students Scientific Career Awareness. In Book of Abstracts (p. 42).
2019)(Mastaneh, and Mouseli, 2021)(Vondracek, Lerner, and Schulenberg, 2019)
10

Appendices
Appendix 1: Primary Research Evidence
Name of contact
Company Banking Industry
Job title Customer relationship manager
Date of contact 23 April 2022
How did you contact them? Human resource manager
Questions asked &
summary of their answers
. What are the implications of globalisation on banking
industry?
Answer: Implication of globalisation on baking industry is
that s that high class services are introduced by banking
businesses to survive in prominent manner. it creates high
job opportunities and customer base.
. What are the implications of technology on banking
industry?
Answer: technological innovation and advancement
facilitates banking industry to perform its operations in
efficient manner. It helps the industry to reduce cost and
provide better experience to customers. It also removing
burden of employee which brings overall efficacy.
11