Top career paths to explore in new-age banking 

As the financial sector evolves rapidly, the banking industry is undergoing a profound change driven by disruptive technology, modern banking guidelines, and changing customer requirements. Several new-age banking job opportunities have come to the fore, shaped by the interplay of all the factors. While a career in banking promises great prospects, it mandates in-depth knowledge of finance and technology. 

This post outlines worthwhile career paths or roles you can explore within the domain of new-age banking. We discuss the skills required and outline the potential for professional advancement the sector offers.

Explore Online Manipal to learn more about TAPMI banking courses and contact the university today! 

Read More: Best online degree courses in banking and finance

Top jobs in new-age banking 

The new-age banking  job opportunities demand a blend of skills, including financial acumen, strategic foresight, technological adeptness, and ethical integrity. Here’s an overview of the popular roles in digital banking:

• Investment Banking Analyst

An Investment Banking Analyst’s role is akin to being the financial architect of large-scale transactions. They meticulously analyze intricate financial data and conduct exhaustive market research. Armed with this information, they construct complex financial models that serve as blueprints for investment decisions, mergers, acquisitions, and fundraising endeavors. By collaborating closely with senior professionals, they contribute to shaping and executing large financial transactions that have far-reaching implications in various entities and economies.

Average Annual Salary: ₹ 10.0 Lakhs

• Corporate Banking Manager 

In corporate banking, the role of a manager is instrumental. These individuals act as strategic partners to corporations, meticulously understanding their intricate financial needs. Armed with this understanding, they craft tailored financial solutions that align with the corporation’s objectives. This entails assessing credit risks, devising innovative financial strategies, and ensuring compliance with regulations. The Corporate Banking Manager serves as a custodian of the corporation’s financial well-being, guiding them toward sound financial choices.

Average Annual Salary: ₹ 10.8 Lakhs

• Digital Banking Analyst

Using skills in finance and technology, Digital Banking Analysts take on the role of digital custodians. They immerse themselves in user behavior data, extracting invaluable insights that shape the evolution of digital banking services. By identifying trends and proposing user-centric enhancements, they guide the transformation of digital platforms. Collaborating harmoniously with technology teams, they champion the implementation of cutting-edge innovations, ensuring that the digital banking experience remains seamlessly tailored to customer preferences.

Average Annual Salary: ₹ 4.9 Lakhs

Read More: What you can earn in new-age banking & finance

• Banking Operations Analyst 

Operating behind the scenes, Banking Operations Analysts manage the intricate operational maneuvers of a bank, from processing transactions to reconciling accounts. Their meticulous attention to detail, alongside their unwavering commitment to regulatory compliance, ensures that the bank functions well. Their work provides the backbone upon which other teams manage customer experiences and build financial strategies.

Average Annual Salary: ₹ 10.0 Lakhs

• Financial Risk Manager

Financial Risk Managers promote stability, constantly scanning the financial landscape for potential risks. Equipped with insights garnered from thorough market analysis, they devise strategies to navigate these risks prudently. Their expertise guarantees that the bank’s financial choices are well-informed, calculated, and consistent with its long-term goals.

Average Annual Salary: ₹ 10.3 Lakhs

• Risk and Compliance Manager

The guardians of ethical conduct and regulatory compliance, Risk & Compliance Managers are the moral compass of the bank. Their role extends beyond rule enforcement; they are architects of a culture rooted in ethical values. By designing and implementing policies that align with regulatory frameworks, they ensure that the bank’s operations remain above reproach. Their guidance and vigilance not only protect the institution from legal pitfalls but also cultivate a sense of integrity that resonates across the organization.

Average Annual Salary: ₹ 15.0 Lakhs

• Business Analyst – Digital Banking

In the digital age, Business Analysts are the master translators between aspirations and execution. With a finger on the pulse of business needs and an eye on technological possibilities, they bridge the gap. They decipher business requirements, distill complex concepts into actionable plans, and facilitate the realization of digital initiatives that amplify the banking experience. Their collaborative spirit, along with their ability to understand and harmonize diverse perspectives, propels digital transformations forward.

Average Annual Salary: ₹ 13.0 Lakhs

• Asset & Wealth Management Operations

For individuals entrusted with wealth, Asset & Wealth Management Operations professionals navigate the world of investments, ensuring portfolios are skillfully managed. Their responsibilities encompass investment coordination, performance reporting, and adherence to regulatory mandates. Their work helps clients achieve financial growth and security.

Average Annual Salary: ₹ 5.5 Lakhs

• Equity Analyst

The role of an Equity Analyst is one of financial exploration and discovery. They review company financials and industry dynamics to get insights. They can recommend the right financial assets and help clients leverage investment opportunities. Their insights, meticulously derived from quantitative analysis and qualitative research, shape the decisions of investors seeking to maximize returns. They decipher financial narratives and market trends to unveil the potential behind every stock.

Average Annual Salary: ₹ 5.0 Lakhs

• Credit Risk Analyst

Credit Risk Analysts are entrusted with evaluating the creditworthiness of loan applicants. They interpret intricate financial statements, discerning patterns that unveil the borrower’s financial health. With a deep understanding of macroeconomic indicators, they paint a comprehensive risk picture. Their role is pivotal in ensuring that credit is extended wisely, maintaining a balanced risk portfolio that improves the bank’s financial resilience.

Average Annual Salary: ₹ 8.5 Lakhs

Read More: A guide to becoming an investment banker

Key Skills Required for New-age Banking 

Below are the key skills required for emerging roles in modern banking:

1. Tech Skills: In the contemporary banking paradigm, technological competence is pivotal. Adeptness in tech skills helps professionals use sophisticated platforms, facilitates the integration of cutting-edge fintech innovations, and fosters adaptability to the changing technological and regulatory environments. It enables seamless customer service, improves security, and optimizes operational workflows.
2. Numeracy Skills: Numerical competence helps with financial analyses and enables astute risk assessments. Command over numeracy skills empowers banking professionals to decode intricate financial metrics, discern market dynamics, and develop innovative financial instruments.
3. Data Skills: Mastery in data manipulation and interpretation helps gather insights, thereby steering judicious decision-making and customer satisfaction processes. Proficiency in data skills helps professionals understand customer preferences, detect trends, and formulate strategies for operations efficiency and productivity. 
4. Managing Risks: Risk management is crucial in banking. It comprises identifying and managing risks, including credit, operational, and cybersecurity risks. This builds trust in the organization.
5. Problem-Solving: Problem-solving is another valuable skill in banking. It ensures quick customer complaint resolution, optimizes procedural frameworks, and helps comply with banking regulations.
6. Leadership and Communication: Leadership and communication are important for building teams, steering strategic goals, and ensuring good customer relations. Good communication skills empower banking professionals to resolve customer issues on time. Good leadership improves collaboration and cooperation and enhances productivity.

Read More: Why banking professionals must master in AI

Pursue an Online MBA BKFS from TAPMI 

The online MBA BKFS program offered by TAPMI can help candidates land roles in the banking and financial services industry. The meticulously crafted curriculum covers Fintech, Risk Management, Blockchain, and Digital Banking. This intensive program helps build strategic aptitude and refines analytical acumen. The program blends theoretical and practical knowledge, helping individuals acquire key roles in banking and financial services.

Wrapping up

New-age banking offers candidates a diverse range of career opportunities that combine finance, technology, and innovation. Whether you are interested in Fintech, developing cutting-edge financial products, ensuring cybersecurity, harnessing the power of data, or creating seamless user experiences, there is a path suited to your skills and aspirations. As the banking sector continues to evolve, professionals who can adapt and excel in this dynamic landscape will find themselves well-positioned for a rewarding professional journey.

Read More: MBA in Banking & Financial Services vs. MBA in Finance