How to Earn Money as Banking Business Analyst (23 tips)

Banking Business Analyst: Maybe your current job just isn’t working out.

Or maybe you just graduated and are trying to get employed for the first time.

The job market can be hard to crack in either case, no matter your age or experience.

Start by networking and searching online for job openings.

Tailoring your resume and cover letter to match what employers are seeking.

And then sending in stand-out applications.

The process may seem daunting, but going in with determination and a plan.

Will carry you through until you find the perfect opportunity.

Get expert advice on becoming a successful business owner with BusinessHAB Business category! Our step-by-step articles can help you navigate the ins and outs of the business world, from forming a public limited company (PLC) to measuring company growth of an existing company. Learn how to avoid unionization of a company, identify industry trends, implement efficiency strategies, and more! You can request publication of your article for publication by sending it to us via our Email below.

See also: Top 34 Lucrative Solar Business Opportunities in Nigeria

Read also: 39 Tips to Write Hatchery Business Basic Business Plan in Abuja

Banking Business Analyst

1. Get the job briefing

From performing credit reviews for borrowers to analyzing deposits and other transactions.

Banking business analysts complete financial analysis.

To ensure the efficient operations of financial institutions.

In addition to banks, these professionals can work for lending institutions.

Mortgage companies, investment firms, or credit unions.

Banking business analysts usually work in fast-paced environments.

Where the reports they submit are needed to complete loan applications.

Approve credit lines, open accounts, and other time-sensitive transactions.

Banking business analysts typically work full time either with a company or as an independent consultant.

These individuals work closely with banking managers.

Underwriters, loan officers, and other financial professionals.

See also: 15 Tips to Become Fish farming Business Consultant in Nigeria

2. Carefully read the job description.

Your first step in applying for a job is to find out what the job entails.

Give the job description a thorough read. Focus on what qualifications are required and what the job duties are.

• Don’t apply for jobs that you are absolutely not qualified for.
• For example, if you do not speak Spanish, do not respond to an ad that states, “Spanish required.”

Banking Business Analyst

3. Get their day-to-day duties and responsibilities

While a banking business analyst’s day-to-day duties and responsibilities are determined by where they work, there are many core tasks associated with the role.

Based on our analysis of job listings, these include:

Analyze Banking Transactions

Banking business analysts review various types of banking transactions on a daily basis.

They examine cash flow and financial statements, generate summary reports, monitor rate changes, develop financial models, and complete forecasting reports for financial projects.

See also: 27 Tips to Start Business Selling Window blinds in Nigeria

Review Loan and Credit Applications

In this role, banking business analysts review loan and credit applications, run credit reports, analyze loan extension and renewal requests, identify risks, complete borrowing base analyses, and prepare collateral analysis reports. They also analyze tax returns and produce summaries about a client’s credit worthiness.

Structure Financing Arrangements for Clients

Based on information gathered from their analysis, banking business analysts suggest repayment schedules, interest rates, and other terms for client accounts.

This includes structuring payment arrangements, funding loan advances.

And reviewing documentation on loan closings to ensure all information is properly recorded.

Read on: Top 21 Products Packaging Business Tips in Nigeria

Ensure Compliance with Banking Regulations

Banking business analysts must be familiar federal and state banking laws and regulations and monitor their employer’s compliance with these guidelines.

They submit necessary reports to address compliance issues.

And check transactions to make sure all documents and records adhere to relevant laws.

Banking Business Analyst

4. Meet their Skills and Qualifications

The role of the banking business analyst is marked by strong analytical skills.

Applied in deadline-driven environments coupled with knowledge of banking, lending, and investing concepts.

A four-year degree is often needed to work in this field, as are the following skills:

• Computer skills – it’s essential for banking business analysts to be familiar with specific accounting and other financial software as well as Microsoft Office applications, such as PowerPoint to make necessary presentations and Word to correspond with banking officials, lending officers, and other professionals
• Financial management skills – from generating financial statements to conducting tax return reviews, banking business analysts must be knowledgeable about various accounting and financial concepts and principles
• Attention to detail – mistakes in this field can lead to costly delays, so it’s imperative that banking business analysts evaluate reports and applications with a careful eye
• Time management – banking business analysts must consistently meet deadlines when it comes to loan closings and daily transaction reports
• Decision-making skills – often working under little supervision, banking business analysts must make quick, independent decisions about green-lighting loans and credit applications
• Organization skills – keeping orderly records concerning client information and compliance documentation is crucial for this profession
• Teamwork – banking business analysts must be able to collaborate with loan officers, underwriters, banking managers, accountants, and other professionals
• Communication skills – in this occupation it’s important to communicate with clients and other banking professionals verbally or via written correspondence; strong presentation skills are also beneficial
• Problem-solving skills – banking business analysts must devise creative solutions for clients with financial issues affecting their loan or credit status

See also: 17 Tips to Start Bill Board Advertising Business Tips in Nigeria

5. Highlight keywords.

Pay attention to what the description emphasizes.

For example, if it is a job in marketing, you might see terms such as “digital marketing”, “SEO”, and “Google Analytics”.

Make sure that you mention those terms in both your resume and your cover letter.

Banking Business Analyst

6. Look over your materials.

Many job search engines and company websites will ask for you to submit your materials online.

Before you hit “submit,” take time to proofread everything you have written.

This includes your resume and cover letter.

You should also look over the fields that ask for your personal information.

And make sure all of your information is entered correctly.

Read also: Top 8 Solar Repairs/Installation Business tips in Nigeria

7. Ace the interview.

Hopefully, all of your hard work results in an interview.

If you get asked to come in, take time to prepare.

Make sure to have examples ready to explain your past accomplishments and how you can help the company.

For example, you could say, “I know you’re looking for a fresh take on how to increase sales.

I’d love to tell you about my ideas for a direct marketing campaign.”

• Dress professionally.
• Make eye contact and speak confidently.
• Arrive on time.

Banking Business Analyst

8. Follow up.

If you’ve had an interview, it is proper business etiquette to write a brief thank you note.

Typically, this is done by email. You can write, “Thank you for taking the time to meet with me today.

I enjoyed learning more about your organization.

And am excited about the idea of working as part of your team.”

• You can also follow-up after sending a job application.
• You might write, “I’m writing to make sure that you received my application materials.
• I’m happy to provide further examples of my qualifications if you would find that helpful.”

See also: 26 Best Business tips for Foreign Investors in Nigeria

9. Match your resume to the job description.

Your resume is a way to list your skills and qualifications.

Just as importantly, it can be used to show potential employers that your skills fit their needs.

Take the time to tweak your resume to each job that you apply for. Look for keywords and themes in the job description and make sure that your resume highlights those terms.

• For example, maybe a job requires “outstanding communication skills”.
• Make sure to list specific examples of how you have used your communication skills in the past.
• You don’t have to totally revamp your resume each time you post it.
• Just make sure it emphasizes your skills that are most important for that particular job.

10. Create a personal profile.

Start your resume by telling employers a little about yourself.

Write a brief paragraph that tells the employer about your skills and lets them know what specific qualifications you can bring to the job. Keep it brief and professional.

• In a few sentences, describe your most important skills.
• Stay away from vague skills such as “organized”.
• Use descriptive terms such as “negotiator”, “decision-making”, and “time management”.

See also: 26 Best Business tips for Foreign Investors in Nigeria

Banking Business Analyst

11. Write a cover letter.

A lot of jobs will simply require a resume, but others will ask for a cover letter.

Have a draft on hand and be ready to tailor it to the specifics of each job.

A good cover letter should explain your experience and qualifications.

You should use specific examples to describe why you would be a good fit for the job you’re applying for.

• Maybe a job description calls for someone who can work as part of a team.
• You could write about how, as an intern, you were in charge of organizing a project that multiple interns worked on.
• Try to keep your cover letter to one page in length.

12. Edit carefully.

Look over your resume and cover letter and then look them over again.

Make sure to fix any spelling or grammatical errors.

Ask a friend vr family member to give your materials a read.

A fresh set of eyes can catch errors that you may have missed.

See also: 30 Tips to Start Furniture Business in Nigeria

Banking Business Analyst

13. Polish your online presence.

The modern job search is conducted largely online.

It’s important that you make a good impression online.

Take care to create positive, professional social media profiles.

You never know when a potential employee might be viewing your information.

• For example, take care to create an impressive LinkedIn profile.
• Your headline should be succinct, like “Research Analyst”.
• Use the space provided to list your qualifications and experience.
• Don’t forget to edit your profile.
• Include your contact information and a link to your resume.

14. Get the Expert Tips:

Make a LinkedIn profile and keep it up-to-date and interesting.

On your profile, make sure to include your job history and any skills you have.

Then, write a headline that accurately describes what you do.

Instead of using a generic title so that your profile stands out.

Banking Business Analyst

15. Search online.

Many, if not most, companies and organizations advertise open positions on employment websites and on company websites.

If you know which company you want to work for, start by checking out their website.

You will likely see a tab labeled “Job Openings” or “Career Opportunities.” Click the tab to see what is available.

• You can also use online job search engines to widen your search. Enter keywords and geographic location on popular sites such as Indeed, Jobs.com, TheLadders, Glassdoor, and LinkedIn.
• For example, if you are looking for a job as a medical equipment salesperson in Chicago, your search terms might be “sales” and “medical” and your geographic area would be “Chicago, Illinois”.
• Craigslist is also a good site to search. It is especially helpful if you are looking for immediate employment. Be sure to check out the company website and vet employers before you send in your resume and contact information, though!

See also: Top 66 Successful Retailing Business Ideas in Nigeria

16. Use social media sites.

Social networking sites are not just for fun and keeping in touch with old friends.

They can also help you find and apply for jobs.

If you choose to use social media in your job search.

Consider setting your social profile to “private” and creating a new.

Professional profile that you share with potential employers.

The following sites are great tools for job hunting:

• LinkedIn: You can use this site to create a professional online profile. You can post a biography that lets potential employers get to know you. You can also post your current resume for others to view.
• Twitter: People are increasingly using this tool to find jobs. If you’re familiar with Twitter, you can follow companies that you are interested in and see posts advertising jobs. You can also search the site using popular hashtags such as #jobs and #jobhunt.

Banking Business Analyst

17. Utilize your state job bank.

You can also use the internet to search employment resources in your own state.

Each state has an online collection of available jobs known as a job bank.

Find the job bank for your state and start searching.

• Much like other job search engines.
• The state job banks will allow you to search by keyword and city.

Read on: 27 Tips to Start Botox/Dermal fillers Business in Nigeria

18. Start networking.

Networking is a chance to strengthen connections with people in your career field.

It’s also a time to meet new people.

Put yourself out there and start communicating with people who could be helpful in your job search.

You can say something like, “I’m just getting started in marketing.

And I wondered if you know of any opportunities that could be right for me.”

If you can get a referral, your resume might just be pushed to the top of the list!

See also: Top 15 Freight Forwarding Business Tips in Nigeria

Banking Business Analyst

19. Consider reaching out to:

• Former professors
• Past employers
• People at the company you want to work for
• Anyone you know who has a career similar to the one you want.

See also: Top 21 Generator Business Tips in Nigeria

20. Spread the word that you are job hunting.

Friends and family can be great resources in your job hunt.

They might know of openings that you aren’t aware of.

They could also have a friend of a friend who is looking to hire.

Make sure that everyone in your circle knows that you are looking for a new job.

• You can say, “I’m looking for a new job in publishing.
• Can you let me know if you hear of any openings in that field?”
• Consider whether finding a headhunter would be useful for finding the job you want.

21. Attend a job fair.

A job or career fair is a great opportunity to meet new people and learn about potential employers.

Both cities and universities have job fairs.

Sometimes private organizations will also hold job fairs. 

• Check your city or university website to find information about upcoming job fairs.
• At a job fair, you can gather brochures and other information from companies that are hiring.
• You might also be able to speak to recruiters.

Banking Business Analyst

22. Stay organized.

Having a concrete plan will be one of your best resources.

Take some time to create a plan for how you will go about your job search.

You should also make to sure to avoid applying for the same position more than once.

Make a calendar of weekly or daily activities related to your search.

On this calendar you can include tasks like:

• Look at online postings
• Reach out to your network
• Work on resume and cover letter
• Apply for a certain number of jobs each week
  

  See also: Top 50 Non Technical Business Ideas in Nigeria

23. More tips