What do you do if you want to specialize in a specific area of Banking?

Banking is fascinating in that it is the one industry where you need to be both a specialist and a bit of a generalist with a view of the big picture to navigate your career. A specialist without the big picture will end up at the bottom of totem pole at the end of his or her career and wonder what happened. It is also the only “profession” where a general degree holder can become as much of a specialist alongside engineers and lawyers. So the operating principle is not the education or training but the instinct to give life to their own careers, to be able to gather a team around them and the respect of the client base.

Embarking on a journey towards specialization requires introspection and thorough research. Take time to identify your interests within banking—are you drawn to trading, risk management, or compliance? Once you've pinpointed your passions, delve into roles that match them. Research qualifications and typical career paths to lay a solid foundation for your future endeavors. ???? #BankingSpecialization #CareerJourney

Each area of specialisation in banking, whether it is retail banking, investment banking or just risk or technology, can take a whole life’s experience to build. If you have the instinct for that area of specialisation, you will naturally do all that is needed and prove yourself. You will know how to connect the dots. Over time, you will achieve the stature of a decision maker in that area. If you don’t have the instinct for that role, all the training in the world will be wasted on you. Still, you will need to also know how the area of your specialisation relates to all other areas in the bank. Only then will you catch the eye of the top management for broader roles.

Under study someone, get the requisite training and certification so you are ready to cease the opportunity when it become available.

Once you've identified your area of interest, actively pursue opportunities for relevant experience. This might involve starting in a broader banking role and gradually transitioning towards your specialization. Volunteer for projects aligned with your desired field and leverage networking within your organization to explore shadowing or mentorship opportunities with seasoned professionals. Their insights and guidance will be invaluable as you carve your path towards specialization. ?? #CareerGrowth #SpecializationJourney

Some of the most accomplished bankers I know do not even have a degree. The average banking degree today spends so much time in technical aspects like trading and asset-liability management that makes the young graduate think that banking is about math. They get the shock of their lives when they spend the first five years stamping (digital) cheques. In fact, no one in banking today is trained for what is to come in areas like digital assets, decentralised and inclusive finance. It is as if the text book has been thrown out of the window. So once again, banking will be defined by those who have the instinct for this industry and all the training in the world will not give a clue to management as to which of their staff have what it takes.

Formal education can be a powerful asset in your journey towards specialization. Consider pursuing higher education such as a Master's degree in finance or an MBA with a focus on banking to gain theoretical knowledge and credentials essential for advancement. Specialized certifications like the Chartered Financial Analyst (CFA) designation can also set you apart in the job market. Ensure your educational pursuits align with the requirements of your chosen specialty for maximum impact. ???? #EducationForSuccess #SpecializationJourney

Yes, on-the-job and continuous training are the only guarantees of the long term career of a banker. Continuous training is also a social exercise. The banker needs to continuously network with the new players emerging in new industries to understand how they work and decide on his or her own strategies or how they want to respond. Unlike brain surgery, banking is a very social industry. The networking is as much a part of the training. Without networking the banker learns nothing in the classroom. I assess the quality of a banker by observing how well he or she navigates in society.

Continual professional development is essential for staying ahead in the dynamic banking industry. Attend workshops, seminars, and conferences tailored to your area of interest. Engage in lifelong learning through online courses to stay updated on the latest trends and regulatory changes. This commitment not only enhances your expertise but also showcases your dedication to potential employers. ???? #ProfessionalDevelopment #LifelongLearning #BankingIndustry

I had already stated in the previous section that networking is the real aspect of the training that a banker will get. I would add here that networking is not just with peers in the same roles but much more broadly. As a social industry, banking is at the mercy of society as a whole is evolving. So the networking has to be broad. I must say that there are caustic bankers who have figured out how to survive in their jobs without ever meeting a single customer. These bankers are a cost to their institutions. They are unable to achieve their numbers, or deal with the risks, because they have no clue how to mobilise their staff. Some of these even have stature in their banks. The problems often shows up after they leave for others to clean up.

Finance requires a great breath of knowledge and experience to understand how the environment works, how business and individuals respond in different circumstances that allows you to assess the opportunities and risk to place capital. By putting yourself in more situations, generating ideas and convening the people and knowledge you place yourself in the best position for success

Building a strong professional network is paramount. Connect with professionals in your desired specialty by attending industry events, joining associations, and engaging in online forums. Networking provides insights into job openings, industry developments, and potential mentorship opportunities. Remember, the relationships you cultivate are as valuable as your skills and experience. ?? #ProfessionalNetwork #IndustryConnections #MentorshipOpportunities

1 Acquérir de l'expérience. 2 Perfectionnement professionnel. 3 Mouvement stratégique.