Top Bank Jobs in Singapore: How to Land a Career in Banking

Pursuing a career in banking may be straightforward when it comes to job searches, but breaking into the field can be challenging. Banks in Singapore often prefer to nurture their talent through structured internal training programmes, ensuring employees align closely with the organisation's brand values and operational standards, rather than hiring from other sectors.

However, if you are currently working in a different industry but aspire to transition into banking, there are certain pathways and exceptions that can facilitate your entry into this competitive field.

A banker plays a crucial role in providing financial services to both individual consumers and businesses and combining customer service with financial expertise. Bankers can work in either retail or commercial banking, managing accounts and offering essential banking services to small businesses. Additionally, they guide customers through the process of opening accounts and offer a comprehensive range of financial services.

The responsibilities of a banker includes:

• ​​​​​​​Client Onboarding: Collecting necessary information from new clients and ensuring their smooth integration into the bank’s system.
• Account Management: Assisting with the opening and closing of accounts and handling all procedures efficiently and accurately.
• Transaction Authorisation: Overseeing and authorising deposits and withdrawals, ensuring transactions are conducted securely and in compliance with banking regulations.
• Loan Assessment: Evaluating clients’ financial histories to approve loan applications, balancing the bank’s risk with client needs.
• Product and Service Advisory: Guiding clients in selecting banking services and products that best meet their financial goals and needs.
• Loan Negotiation: Engaging with lenders on behalf of clients, negotiating favourable loan terms and conditions.
• Data Management: Entering client data into the bank’s systems and regularly updating reports to reflect the latest information.
• Financial Advisory: Providing clients with informed financial advice, addressing their concerns, and resolving issues to enhance their banking experience.

​​​​​​​This role requires a blend of strong analytical skills, a deep understanding of financial products, and excellent interpersonal abilities to build and maintain client relationships.

Contrary to popular belief, the operations within a bank encompass a wide range of specialised roles. Below are some of the key positions that play a crucial part in the banking sector:

1. Investment Officer
   Investment officers are responsible for discovering business prospects and obtaining investments to advance an organisation's financial interests. Their responsibilities extend to managing portfolio projects, processing financial transactions, and fostering strong client relationships. Career opportunities for Investment Officers are prevalent in major financial institutions, financial consulting firms, and government agencies.
    
2. Banking Analyst
   Banking Analysts are responsible for examining financial data and evaluating investment opportunities. Their role includes analysing banking portfolios, assessing assets such as stocks and bonds, studying credit trends, and preparing presentations to communicate their findings. Additionally, Banking Analysts provide strategic advice to clients on optimal investment choices. Organisational tasks such as scheduling meetings and booking conference rooms may also fall under their remit. This role demands exceptional analytical and research skills.
    
3. Trade Analyst​​​​​​
   Trade Analysts monitor stock market activities from the trading floor, making real-time decisions on transactions based on market data and financial reports. Their role involves reviewing tariff schedules, industry reports, and government regulations to inform decisions on stock purchases and sales. The ability to think quickly, be resourceful, and retain significant amounts of information is essential for success in this dynamic role.
    
4. Foreign Exchange Trader
   Foreign Exchange Traders, or Forex Traders, specialise in buying and selling foreign currencies to generate profits. Typically employed by large investment banks or firms that facilitate foreign exchange transactions, these professionals monitor currency markets, analyse price movements in currency pairs, and manage client investment accounts. Given the global nature of this role, it often requires long hours to work across different time zones.
    
5. Commercial Banker
   ​​​​​​​Commercial Bankers serve corporate clients within a bank or similar financial institution. Their primary responsibilities include promoting the bank's services to attract new business, managing existing client relationships, and overseeing corporate accounts. Additionally, Commercial Bankers are involved in supervising business earnings, arranging loans, and securing funding. The specifics of the role can vary depending on the employer but always centre around providing tailored financial solutions to businesses.

Now that you have a better understanding of the various roles within the banking industry, you might be wondering how to secure one of these coveted positions. Here are four key areas to focus on:

1. Pursue Relevant Degrees
   Entering the banking industry in Singapore typically requires a strong academic foundation. Earning a degree in finance, accounting, economics, or business administration will significantly improve your chances of employment. These disciplines equip you with essential skills, such as financial analysis and risk management, that are critical in banking. Additionally, consider courses or certifications in customer service, as banking roles often involve substantial client interaction.
    
2. Gain Professional Experiences
   Experience is a crucial factor in securing a career in banking. Many banks in Singapore offer structured training programmes, internships, and graduate trainee schemes designed for aspiring professionals. Engaging in these programmes not only provides hands-on experience but also offers networking opportunities and potential job offers upon completion. You can also seek part-time positions in banks or financial institutions to gain exposure to the industry and develop practical skills early in your career.
    
3. Build Your Network
   Networking plays an important role in advancing your banking career. Building connections within the banking community, whether with bank clerks, managers, or industry professionals, can open doors to job opportunities. Attend industry events, job fairs, and career talks, or use online platforms like LinkedIn to expand your professional network. Recommendations and referrals from well-connected individuals can be particularly valuable in the competitive banking sector.
    
4. Upgrade Your Skills
   ​​​​​​​In the fast-evolving banking industry, having a strong foundation in banking knowledge is essential, but it’s equally important to continually upgrade your skills. Proficiency in digital tools, data analysis, and financial software is increasingly sought after. Additionally, excellent communication skills are vital for interacting with clients and colleagues effectively. Stay informed about industry trends and consider pursuing relevant certifications or courses to keep your skills up to date.

Once you’ve identified your career goals and acquired the necessary skills and experience, it's time to focus on your resume. At Jobs Lah, we provide valuable tips on mastering interviews, crafting effective resumes, and finding the right job opportunities. To explore current banking job openings, visit our job portal. Sign up for an account today and start your job search journey with us!