5 Top Tips For Success In The Banking World

Learning from others can be a great way to further develop your own skills and to gain insight into a specific role or industry you may be interested in. Below you can read how a successful banker started his career and the tips he has for anyone wishing to develop a successful career in the banking world.

Where do you currently work and what does your role involve?

I work for one of the big four Australian Bank’s as a Lending Manager in Business Banking where my primary function is to generate revenue through lending book growth and cross sale activity of other banking products.

How did you start your career in banking?

I began my career in banking as a Graduate Branch Manager after being chosen from hundreds (if not thousands) of applicants and after four rounds of interviews. I spent the first six months learning all entry level roles. My first role was as a teller learning cash handling techniques and identifying referral opportunities for more senior staff. I then moved on to a sales consultant role, opening and closing accounts, credit cards and small unsecured loans. From there I moved into a branch manager’s position managing the day to day running of the branch and directing staff to grow the balance sheet of the branch through deposit and lending book growth.

What are some of the challenges you have faced during your career?

Ever changing market conditions – interest rate, stock market and housing market fluctuations. It is important to have an ear to the ground to see what the market is doing or more importantly what the clients believe the market is doing.

To the general client population banking has a stigma, something the media love to play on. It is very important to convey the intention to keep the client’s needs at the centre of every conversation and action.

Being personable, a clear communicator and showing genuine interest towards clients should be the foundation to everything you do and could prevent challenges from arising unnecessarily.

What would be your 5 top tips to gaining success in the banking field?

  • Know your customer and keep their needs at the centre of everything you do
  • Take ownership and follow up all client interactions
  • Create trusted networks of internal and external referral sources
  • Know your KPI’s and break them down to weekly/monthly goals, so that as market conditions change you can adapt before it is too late
  • Know what your Manager is trying to achieve and be an invaluable part of their success
  • If you are looking to break into the banking world, I would recommend to start by;
  • Knowing the role you are after and the skills required to be successful

Banks love developing their people, so be prepared with your career development plan in the initial job interview

Look for opportunities to develop desirable skills and gain experience – job seeking in the banking world is very competitive

Are you thinking of undertaking an accounting internship? Speak to one of our advisors to on our Professional Year Student Programs available.

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