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BECOME A PRO BUSINESS ANALYST IN THE BANKING SECTOR (BAB)

  • Students majoring in BIS/MIS/E-commerce are interested in the field of Software Business Analysis for the banking industry, want to get acquainted with basic knowledge as well as learn about the career path of a BA.
  • Students majoring in economics, management, human resources, foreign languages,... oriented towards BA career.
  • Students want to build a solid professional foundation, try their hand at real situations/projects before entering the BA profession.
  • You are an IT (Information Technology) expert with experience in programming Jave, .NET, Tester, QA, QC, ...
  • You are a software business analyst (IT Business Analyst/ IT BA) in the insurance, telecommunications industry,... and are familiar with SDLC (Software Development Lifecycle) and requirements analysis. requirements analysis;
  • Or are you a finance, marketing,...
  • You are completely new and want to orient yourself to another field...

In this article, DTSVN will address topics related to the business analysis profession in the banking sector (Business Analysis for Banking - BAB). In your opinion, are banking BAs similar or different from BAs in other fields?

If you think that "If you've done a BA, BAs in every field are similar, they also go to workshops, clarify requirements, document requirements,... that's it. Knowledge of that field is not very important!” then you may have difficulty experiencing it in practice. Did you know that: Background knowledge in the field you are working in is extremely important. If you are new to the banking industry, one of the difficulties you will encounter is acquiring the necessary banking knowledge. Because if you do not have banking knowledge, it will be difficult for you to successfully implement a banking project for your stakeholders and customers.

 

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Do not believe it? So now, try to imagine yourself in a workshop to collect requirements in building an electronic banking system. A stakeholder asked: "How do we handle letters of credit in this new system?" or “How will you handle client-level loan-to-value ratios?” If you cannot answer or even understand what the stakeholders are saying, then you have lost the trust of customers, and you are even risking your own reputation and career.

At this point, you probably agree with DTSVN that: Background knowledge in the field you are working in is very important, right? So for those of you who are just starting out in the banking field, how can you consolidate your knowledge in the industry? Maybe you will choose to read a lot of thick books, or take courses to supplement your knowledge, etc. As long as you feel it is suitable for yourself and you can absorb it, that's it. will be a good way for you.

In this article, DTSVN will provide you with an overview of the banking industry. Hope this article will be useful to you.

1. Knowledge about the banking sector:

The concept of banking and how banks make profits:

Knowledge in the banking sector is vast. As a BA, you need to understand how a bank works from start to finish so you can get a “big picture” view of the bank and can tie information together, understand how banks make money so you can find out the meaning of the employee's statement, for example: Interest-based income versus fee-based income,...

First, we will learn about the concept of banking. The banking industry can be defined as a series of business activities in receiving deposits belonging to individuals and organizations and protecting those funds. The bank will then lend this money out to make a profit. More specifically about banks participating in the market to make profits:

  • Savers (Including individuals, organizations,...) will deposit money in different banks. And banks will give money to those who need to borrow and are qualified to borrow (they are also the same group of people as savers: Can be individuals, organizations,...).
  • The bank must be responsible for returning the correct deposit amount and additional profit/interest (According to commitment/contract) to the saver. At the same time, the borrower must repay the borrowed amount to the bank, along with profit/interest (according to the commitment/contract).
  • However, the amount of interest that the bank must pay to the depositor and the borrower must pay to the bank will be different in that the interest rate that the borrower must pay to the bank will usually be larger. This difference is because the bank will make a profit based on this difference. The higher the spread, the more profit the bank will earn.

Types of Bank accounts

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Savings account

As the name suggests, this is an account whose main goal is to promote savings, so there will be no limit to the number and amount of deposits you make on this account, and there are no fees when putting money in. However, you may encounter limits on your withdrawal amount. Any bank may limit the amount and number of withdrawals you can make on this savings account. In case of competition between different banking competitors, which banks will have different policies regarding this withdrawal. This is a basic type of account that when you open this account, you usually will not be charged any transaction fees, maintenance fees, service fees, etc. But you will not have basic support such as internet banking, debit cards, debit cards,...

Current Account

This type of account has high liquidity and unlimited number of transactions. You can put any amount of money into your account and there is no limit to the number of times, and you can withdraw money without any problems. However, you will be fined if you do not maintain the minimum balance as committed and the bank will not pay profit for this account or if any (depending on competition policies with other banks). In this account, you may have to pay service fees depending on each bank. This current account will be suitable for business customers, because businesses often need to deposit a lot of money multiple times every day of the week, as well as continuously withdraw money from the account. clause.

Fixed Deposit Account (Fixed Deposit Account)

For this account, you can only put money into the account once and wait until maturity, then you can withdraw both capital and interest. In this account, you can withdraw money before maturity without incurring any penalties from the bank, or incurring additional fees depending on the bank. Customers will get additional loan against fixed deposits (FDs) up to 80-90 per cent of the value of the deposit.

Recurring Deposit Account

In this account, you will have to deposit money after a fixed period of time, for example 10 million/month or 50 million/quarter. The profit you earn will be equal to the FD account. In this account, you can make fixed contributions (10 million/month) or change (January: 10 million, February: 15 million,...). However, in this account, you will not be able to withdraw money before maturity, but will choose to close the account before maturity.

Different types of Banks

Banks will be divided depending on their nature and business strategy. With this form, we often encounter 3 types of banks: retail banks, wholesale banks and mixed banks. As a BA, you need to understand the different types of banks so you can differentiate between retail banking, corporate banking, investment banking, and private banking, etc.

Wholesale banking

A bank whose main mission is to make transactions and provide services to large businesses and companies operating in the financial sector.

Retail bank

A bank specializing in conducting transactions and providing services to customers who are individuals.

Mixed bank

This is a bank that can perform both wholesale and retail banking tasks. This bank often makes transactions and provides services to customers who are businesses or individuals.

In addition, based on the nature of operations, people can also divide banks into two types: specialized banks and general business banks.

Specialized bank

This bank only specializes in a certain field according to its name, a specialized bank. For example, banks specializing in import-export, agriculture or investment...

General business bank

This type of bank operates in all economic sectors, participating in almost every operation that a bank can do according to the provisions of law.

Besides the above knowledge, there will be knowledge you need to learn for yourself such as: Regulations, or business processes, products, services, transaction systems, payment systems... of the bank I'm working and coming up with reasonable solutions; or who are the bank's customers; distribution and sales channels, etc. In parallel, you need to understand digital banking so you can understand how mobile and digital technology is transforming banking services and market trends. how is school.

2. Who are the THREE banks?

Define

Simply explained, a BA (Banking Business Analyst) or (Business Analysis for Banking (BAB)) is a BA person who is equipped with additional knowledge and skills in the banking field. So, before becoming a banking BA, you need to master the knowledge, analytical skills, soft skills,... of a BA first.

Skills for Banking Business Analyst

As with the definition of THREE Banks above, THREE banks are just BA people. The common jobs of BA banks are still:

  • Work closely with BA Lead during the work process, for example: Creating new systems to provide new products/services to the bank's share owners;
  • Elicit, analyze, specify and verify business requirements;
  • Document requirements;
  • Technical team support;
  • Coordinate with testing team during various testing phases;
  • And other jobs of a BA. Therefore, THREE banks also need to be equipped with core skills including:
  • Communication skills (Example: Know how to communicate with C-levels as a Banking BA to demonstrate poise, professionalism when speaking to senior management and successfully persuade them with a point of view your)
  • Skills in solving problems, situations, etc. (Know how BA banks use operational data to build solid business cases, thereby building an accurate data collection system from bank operations and develop good business strategies in a short time)
  • Critical thinking skills (Knowing how to reason, ask questions that get to the heart of the problem, or answer questions to the point and satisfy stakeholders)
  • Analytical and presentation skills (Know how to create convincing and professional PowerPoint slides, like top consultants of large enterprises).
  • English ability (Use English as a tool to communicate and convey information with foreign partners)
  • And other important skills necessary for career advancement.

Career BA in banking

Today, in the 4.0 technology era, banks are interested in digital transformation for banking activities, including information storage, data management, employee management,... and many more. Other jobs. Therefore, the need to recruit engineers and analysts in the field of banking technology is increasing. The tasks that a BA Bank usually performs are:

R&D projects have new technology elements such as:

  • AI
  • Big Data
  • Blockchain
  • IoT
  • Digital Banking
  • For example: Credit Scoring, Chatbot, Voicebot, RPA, Smart Banking,..

Building Core Banking: Deploying and operating banking operations on the Core Banking system platform, developing popular core banking software, converting core banking system,...

Building electronic banking (e-Banking): Building, organizing and supporting technology platforms for electronic banking services; Apply and implement development activities as well as manage electronic banking projects; Analyze how to implement e-banking projects in practice for each specific organization. In particular, this is also a quite hot field that Vietnamese banks regularly recruit.

 

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INTERNSHIP COURSE: BUSINESS ANALYST DTSVN IS FOR YOU

See details at: https://dtsvn.net/vi/dtsvn-tuyen-dung-thuc-tap-sinh-business-analyst

Registration and interview time:

Image removed. Registration and application time: From March 18, 2024 to March 29, 2024

Image removed. Interview time: From April 1, 2024 to April 5, 2024

How to apply:

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