How To Get Banking Domain Knowledge And Become A Better Business Analyst
Hi there! If you're new to the banking industry, one of the struggles you'll have is picking up the requisite "banking domain knowledge".
If you don't have banking domain knowledge, it would be tough to run a banking project successfully for your stakeholders or clients.
Imagine running a workshop to gather system requirements for a new core banking system and one of your stakeholders asks "So how do we handle Letters of Credit in the new system?" or "How do we handle client-level Loan-To-Value Ratios?"
If you can't answer or even understand what your stakeholder is asking, you're risking your credibility (and career) as a Banking BA.
But how do you pick up banking domain knowledge?
Through reading thick textbooks? I've did that early in my career and found it didn't help.
Attending expensive online courses or part-time certifications? These would be good, but only if you pick the right ones to attend.
On top of that, here are some other common questions I get about the banking domain:
- You're an IT Professional who has experience in programming in e.g. Java, .NET or technical architecture - how do you become a Banking Business Analyst to learn more about the "business"?
- You're an IT Business Analyst in another industry (e.g. insurance or telecommunications), familiar with the Software Development Lifecycle (SDLC) and requirements analysis - how do you break into the banking industry?
- You're not in IT (e.g. you may be in Finance or Marketing) and don't know how to become an BA in the banking industry?
- What is my career path as a Banking Business Analyst?
- Are Banking Business Analysts paid well? What's their average salary?
- Which companies do Banking Business Analysts work for?
- Where are the job opportunities and how do I snag an interview if I have no prior experience?
- What's a typical day in the life of a Banking Business Analyst?
Well, all good questions and certainly ones which I hope I can answer for you.
My name is Gary Tan and I'm a management consultant who specializes in IT strategy and system implementations for banks. I've been a Banking Business Analyst for 15 years and I've seen this industry from a consultant's perspective and also from my experience working in banks.
The questions from many of my juniors who want to become Banking Business Analysts has prompted me to consolidate all my know-how about the banking domain and also the Banking Business Analyst career into one huge resource - a book entitled "Banking Domain Knowledge for Business Analysts".
Inside, I first give you a solid overview of the banking industry - from retail, corporate, investment to private banking. I use a simple framework to give you a broad perspective into bank's business models, customers, sales and distribution channels, regulations, strategy and also operations.
What Is Banking Domain Knowledge?
Because the term "banking domain knowledge" is so broad, we sometimes struggle with a definition.
The term "banking" can cover anything from retail banking, investment banking and private banking. It can cover front-office trading, sales and back-office operations, banking regulations and corporate strategy.
How do you make sense of it all?
Well, that's where my book comes in. I provide you with a practical, comprehensive overview of the banking industry so you have an end-to-end foundational view. From there, you can easily deep dive and learn more about specific topics if you wish.
My book will help you:
- Understand what banking domain knowledge is so that you have a foundation for building up your banking know-how.
- Understand the different types of banking so that you can tell the difference between retail, corporate, investment and private banking
- Understand how a bank works from end-to-end so that you can gain a "big picture" view of banking and be able to link what a front-office Relationship Manager says to what is happening in the back-office, e.g. trade settlement and nostro reconciliations.
- Understand how banks make money so that you can finally find out what a bank means when it says interest-based income vs. fee-based income
- Understand banking regulations so that you can see what issues central banks and financial regulators have been focusing on since the global financial crisis
- Understand the customers of a bank so that you can see who buys a bank's services, e.g. from individuals to companies, or from mass retail customers to high-net worth individuals
- Understand a bank's sales and distribution channels so that you can see how banks reach out and sell to their customers, via branches, ATMs, online, email, mobile, etc.
- Understand different banking products so that you can understand what are deposits, loans, equities, fixed income, funds and derivatives
- Understand different banking services so that you can understand what are IPO, Merger and Acquistion services, investment advice and portfolio management
- Understand a bank's organization, job roles & responsibilities so that you can see how a typical bank is setup, including committees, job roles and teams that are needed to sell, operate and manage the bank.
- Understand different banking processes so that you can understand how products and services are fulfilled from the point a customer walks in to the point his or her transaction is completed.
- Understand the top core banking systems so that you can understand the hottest core banking system skills in demand in the market
- Understand the top trading systems so that you can understand the hottest trading system skills in demand in the market
- Understand the payments systems so that you can understand how banks settle their domestic and international payment transactions across the world
- Understand the top private banking systems so that you can skill up on the hottest private banking IT skills (e.g. Temenos T24 and Avaloq) and snag an interesting and high-paying job
- Understand digital banking so that you can understand how digital and mobile technology are transforming banking services
How Do You Pick Up Banking Domain Knowledge?
There are many techniques for picking up banking domain knowledge - reading, attending courses, on-the-job experience, etc.
But one of the biggest problems is that information is scattered. You don't know what you're reading sometimes because banking as a topic is so vast and so wide.
You need to pick up banking domain knowledge in a very focused and structured manner. And you want to make sure you're not just wasting time surfing websites, taking in adhoc bits of information without assimilating it and seeing how everything fits together in the industry.
That's where my book will help you:
- Learn how to obtain banking domain knowledge quickly so that you can save time and effort and immediately apply your banking knowledge on the job.
- Understand the basics of banking operations so that you can speak credibly to your bank stakeholders and clients in your next project.
- Gain banking domain knowledge in one place so you can finally stop going surfing aimlessly from "website to website" and yet fail to see the big picture of how banking works.
- Obtain a view of the banking industry in an easy-to-understand, digestible format so that you can get up-to-speed on the banking industry very quickly - without pouring through those thick textbooks you see in bookshops.
- Obtain an up-to-date view of the banking industry, fully updated as at Dec 2014. so that you can have the confidence you have the latest trends and developments in banking when you next face your banking stakeholder or client.
- Understand the top 5 trends that are affecting the banking industry today so that you can credibly advise your stakeholders and clients on current developments and provide more valuable insight in your project.
What Is A Banking Business Analyst?
A Banking Business Analyst is a great job - you get to work on interesting projects the banking sector, you get paid well and you usually get to travel. You also get excellent career prospects and within a few years, banking headhunters will be after you to fill up executive positions in banks or banking service providers.
But exactly what does a Banking Business Analyst do? Sometimes this is not clear. If you read my book, you will understand what this role is about and whether it is the career for you.
My book will help you:
- What is a Banking BA so that you can see what a banking BA does in terms of roles and responsibilities and if it is your cup of tea
- Understand the critical skills of a Banking BA so that you can understand if you have what it takes to be a Banking BA and focus your effort on skilling up the areas that matter.
- Understand a "Day in the Life" of a Banking BA so that you can see, in real-life, what a Banking BA really does and decide if it is the correct career choice for you.
Banking Business Analyst Skills
Gone are the days when a Business Analyst can get by with just pure "BA skills", e.g. business process modeling, business case construction, SWOT analysis, etc.
The market is asking for more - my clients (i.e. banks) are now looking for BAs with banking domain skill sets - they should understand a broad area of banking pretty well, e.g. the trade lifecycle, payment operations, customer onboarding.
If you have both BA and banking domain skills, trust me - your value to banking employers will jump manifold.
In this respect, my book will help you:
- Understand the difference between a Banking BA and a Banking PM so that you can decide if the Banking BA or Banking PM path is correct for you in the longer term
- Understand the framework companies like McKinsey use to analyze banking operations so that you can have a consistent technique or lens with which to analyze any banking operation you come across
- Understand how to talk to the C-level as a Banking BA so that you can display gravitas and poise when speaking to senior management and successfully persuade them of your point of view.
- Understand how to create convincing PowerPoint slides so that you can create beautiful, professional slide decks packed with convincing data points just like McKinsey consultants.
- Understand Banking BAs use operational data to build solid business cases so that you can have a repeatabale technique for gathering the correct data from a bank's operations and develop a good business case in a very short time
- Understand how to work with banking stakeholders so that you can increase the chances of success in your banking projects
- Learn the ONE skill a Banking BA must have so that you can pick it up and succeed as a Banking BA, regardless of what project or stakeholder situation you're in.
- Understand what certifications to get to become a Banking BA so that you can know what to study (e.g. CFA, Masters in Finance, MBA with a finance specialization) to help you transition into / become more effective in the Banking BA line
- Learn about the top 3 certifications a Banking BA should try to complete so that you can see what part-time certifications you can obtain to help boost your Banking BA skills
- Understand the 5 critical software programs a Banking BA must master so that you can focus your time on picking up the right software skills and become a more effective BA.
- Learn about the 5 websites you need to learn all about Banking so that, just like the pros, you can regularly read just these five websites for banking news and developments - instead of wasting time surfing all over the web.
- Understand how Banking BAs facilitate workshops for IT system requirements so that you can successfully faciliate workshops, then document clear and accurate requirements for your banking system project.
- Understand how to write banking IT system requirements so that you can effectively gather requirements from banking business users and translate them into system requirement documents (whether you're using waterfall or agile development techniques)
Banking Business Analyst Jobs
Banking Business Analysts are in hot demand. If you look at the job classifieds in e.g. financial hubs like Singapore or Hong Kong, you can see many job opportunities. And these come with very attractive pay packages too.
The truth is, banks and banking service providers need business analysts who understand the banking domain, can develop solutions to increase revenue or cut costs. These skill sets are almost always in demand in the banking job market.
If you're in the market for a Banking BA job, my book can help you:
- Learn how to break into the banking industry even if you have no prior experience so that you can package yourself correctly and finally get into the banking industry to start building up your expertise
- Learn about the salary of Banking BAs in the market so that you can negotiate a better deal for yourself in your next interview.
- Learn what jobs you can apply for as a Banking BA so that you can focus your job hunting efforts on the most suitable and high-paying jobs
- Learn what companies Banking BAs can join so that you can see what options are available to you if you're in the market as a Banking BA
- Learn how to join Top-Tier Consulting Firms as a Banking BA so that you can be part of the prestigious and highly-paid consulting fratenity like McKinsey, Bain and BCG, PwC, Deloitte, KPMG, EY, etc.
- Learn how to join Top-Tier Banks as a Banking BA so that you can finally be part of a prestigious, top-tier bank that pays well
- Learn how to start your own firm specializing in Banking advisory so that you can be your own boss and provide professional services to banking clients.
- Learn what is a standard Banking BA package in Asia so that you can compare and see if you're getting a good deal when you negotiate salary packages with your Banking BA employer in Asia.
- Understand how to write a solid Banking BA resumeso that you can get interviews at the best Banking BA employers you're applying to
- Learn about the best banks to join in Asia as a Banking BA so that you can apply to the best Banking BA jobs in Asia
- Learn how to get a Banking BA job in Asia so that you can learn the procedures for moving into Asia and working as a Banking BA
- Learn what are the entry requirements for a Banking BA in Singapore so that you can see if you qualify to work as a Banking BA in Singapore, one of the hottest financial hubs in Southeast Asia.
- Learn What are the entry requirements for a Banking BA in Hong Kong so that you can see if you qualify to work as a Banking BA in Hong Kong, another hot financial hubs in Asia.
Banking Business Analyst Career Path
So what does a Business Analyst do over the long term? Does he or she get "stuck in a role"?
In my opinion, far from it. I know Banking Business Analysts who have gone on to become Project Managers, C-level executive or have jumped into business development. Others go on to start their own businesses, concentrating on providing business advisory to banks.
If you want to understand the medium and long term career prospects of a Banking Business Analyst, my book will help you:
- Learn how to transition from IT BA to Banking BA so you can finally "get out of IT" and into "the business".
- Understand the prospects of being a Banking BA so that you can greatly increase your chances of finding a job that you love
- Learn about the pros and cons of being a Banking BA so that you can see whether being a Banking BA is for you
- Discover a case study of how I became a Banking BA so that you can understand, in real-world terms, what it takes to become and succeed as a Banking BA
So What's A Resource Like This Worth?
If you scour the Internet to find related information about banking domain knowledge, it most certainly will cost you a lot of time.
And you may not even find what you're looking for - most likely there's bits and pieces of information here and there which don't give you a real-world, end-to-end view of banking.
This book is the cumulative result of my 15 years' expertise in Banking Business Analysis - there is simply NO other resource like it out there. Not even on Amazon - most of the books there are thick textbooks on specific banking topics and don't reveal much about what it is like being a real-world Banking BA.
A full overview of what the banking industry is about and how it operates - from its business models, customers, sales and distribution channels, products and services, through to front, middle and back-office operations across people, process and technology.
Once you read it, you can benefit from it almost immediately and start applying that knowledge on your next banking project.
For a limited time only, I am offering Banking Domain Knowledge For Business Analysts at a price of $49.99. This is an incredible price for gaining all that knowledge about banking domain knowledge.
If you wish to order a copy, please drop me an email with the title "[Order Banking Domain Knowledge For BA]" and I'll send my Paypal details.
The book is available as a PDF - which means you can be reading it and discovering all these banking domain know-how in a very short time.
My Personal Guarantee To You
And don't worry, if for any reason you're not happy with my book's content, you have a complete guarantee to protect your investment.
100% RISK-FREE 60 DAY MONEY BACK GUARANTEE
If you don't think the information in Banking Domain Knowledge For Business Analysts will give you exactly what you need to forge a career as a Banking Business Analyst, then just contact me within 60 days and I'll refund your money immediately with no questions asked.
I'm here to help you. I am not interested in accepting your money if you are not satisfied with my product.
Because I want YOU to experience the same happiness, joy and confidence as I did when I finally learnt to carve out a successful Banking Business Analyst career.
Now, you can only get this product from me. It's not available in libraries or anywhere else on the Internet. In fact, I have only just written it for release on this site alone. And you can get all of this information downloaded to you right away.
To order your own personal copy, email me here and lock in a price of $49.99. I'll send the PDF book to you right away.
And remember, support is only an email away - just use my contact form here if you have any queries at all.
Wishing you much success,
PS: This is THE REAL STUFF: It is an offer from me as a management consultant specializing in banking, having spent 15+ years in the banking industry. I make it easy for you to learn about banking and start off on the right foot, to carve out the Banking Business Analyst career you've always wanted.