Are you interested in a career in Banking? Are you unsure about the different roles that are within this everchanging industry? Deutsche Bank published an “unofficial guide to banking” which is a great general resource for you to use when finding information about finance.
Banking is not always straightforward. It can be confusing and overwhelming. However, with the help of recent graduates, Deutsche Bank have created a straightforward guide to the world of banking. The guide will help you discover what banks actually do, what skills are required and how to get your foot in the door. It is a great introduction to the world of banking and how you could get a career at Deutsche Bank.
There are a variety of sectors that you can work in so take a look at a brief overview of them all below:
Sales, Trading and Structuring
Sales people communicate with institutions, corporates and private individuals where they suggest investment opportunities, products and potential trading strategies. Traders are the people who do the actual buying and selling and give prices to clients. Structuring teams are responsible for providing products that are tailored to clients specialised needs.
Research provides financial analysis across various investments. The bank’s research team analyses relevant trends in financial markets, the economy and society as well as highlighting risks and opportunities, and acting as a consultant for clients and stakeholders.
Corporate Finance provides strategic advice and markets products that help clients build their business; they link companies that need money with investors that can provide it. Roles in corporate finance can be widely divided into two categories; origination teams, who work with clients to understand their needs and identify new business opportunities, and product teams, who develop and execute specialist solutions within capital markets or by providing advice they may require.
The Corporate Bank partners with clients such as investors, financial institutions and issuers to shape the future of financial services together. Corporate bankers specialise in offering clients the best products and solutions to make the most of their companies’ financial management. They provide them with services like liquidity management, foreign exchange, payment, trade finance and credit solutions.
There’s one key objective in Asset Management: generating income for clients. This is done by directing a client’s capital into a range of investments, chosen carefully by balancing risk, opportunity, and other variables – such as timeframes and other investments in a client’s portfolio. So, an Asset Manager might invest in stocks, bonds, property or the foreign exchange to help a client meet their investment goals.
Private Banking and Wealth Management
Individuals with substantial wealth often have complex financial arrangements where they want to make sure that their asset portfolios are generating the best possible returns. They’ll work with a specialist advisor at a bank with in-depth knowledge of financial markets and investment opportunities who will understand their perspective and help them reach their goals. Wealth managers are almost like consultants where they get advice from appropriate experts and offer appropriate products and solutions.
Retail provides products and services like loans, mortgages and current accounts to individuals and small companies. Opportunities in retail range from front-line customer service and branch management to relationship management and product development. People with aptitude can progress quickly and will get the chance to study for professional qualifications.
The right technology can give one bank the edge over the competition. It’s now less to do with IT support, but rather about emerging trends set to transform the industry like Blockchain and AI, and the increasing significance of the Cloud. That’s why institutions invest vast sums in tech and employ tens of thousands of people to develop and maintain it.
Front-line banking is made possible by a diverse mix of specialists in infrastructure and support roles. Like every large business, banks have people responsible for human resources and accounting, as well as functions specific to financial services like risk and regulation. Some will have begun their careers in banking, but many will have crossed over from a similar role in a different industry.
Head over to the Deutsche Bank banking resource for more detailed information to help with your career planning. We also have a finance sector guide on KEATS that has lots of additional information about banking and how to get started!