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How to progress your banking career in 2022

09 December, 2021Juno Baker

Experts are predicting the banking trends for 2022, but what do those trends mean for your work life? And how can you capitalise on the finance sector’s skills gaps to advance your financial career?

hand moving candles which spell 2022Whatever your area of interest or expertise, now is an exciting time to be working in banking and finance. Ours is a fast-moving sector with opportunities to work in innovative areas that are helping to shape the world. But what’s the right direction for you?

Upskill in fintech and digital banking

The fintech world is fast moving but fintechs aren’t the only firms hiring people with digital banking skills. And there’s no doubt that the Covid-19 pandemic accelerated the digitisation of banking and finance and that trend looks set to continue in 2022.

Every area of banking and finance will always need good communicators in their customer services roles. But now, customer-facing roles demand a more sophisticated skillset, including know-how in assessment, problem-solving, data analysis and digital.

You can update your learning and get a qualification in just a few months with the Certificate in Retail and Digital Banking (CertRDB).

For business bankers, the Certificate in Business Banking (CertBB) will help you develop your understanding of:

  • digital disruption
  • credit risk and managing problem loans
  • fintech
  • artificial intelligence
  • blockchain and more.

If you’re interested in a deeper dive into fintech, then the six-week Certified Fintech Practitioner (CFP) course could be for you. CFP is ideal if you’re working – or planning to work – in a fintech or a digital team in financial services.

A scholarship is available for women candidates and, if you register before 7 February 2022, you can take advantage of an early bird discount.

Learn about governance, risk and regulation

Another fast-evolving area of banking and finance is risk. Banks are currently looking to better protect operations, because of:

  • Covid-19
  • digitisation
  • the increased risk of fraud
  • remote working
  • climate change, and
  • the increased needs of vulnerable customers.

Risk management – including assessing, reducing and avoiding risk – is central to every financial institution’s operations. That means introducing and embedding good practice into the bank's systems, processes and culture.

If you’re interested in upskilling in risk, the Level 4 Risk and Regulation in Banking (RRB) is a good start and will help you explore:

  • the fundamentals of risk – risk culture, appetite and tolerance
  • how risk is measured and managed
  • how to analyse and model risk
  • the causes and consequences of financial crises and scandals, and
  • how banks are regulated and the risks they currently face.

The Level 6 Financial Risk Management in Banks (FRMB) follows on from RRB and includes operational risk. And as you progress in your career, you may consider the Level 6 Managing Operational Risk & Governance (MOPR).

Credit risk has also become increasingly relevant as many businesses are having to restructure their debt facilities. Managing credit risk well isn’t just important for client relationships, but to help businesses stay afloat and to protect jobs and livelihoods.

The Level 5 Commercial and Corporate Lending (CCL) will introduce you to mid-market lending and is ideal if you enjoy the relationship management side of banking. You'll learn to analyse lending positions and structure the best solutions for businesses that operate in the £25-£30 million annual turnover ranges.

Study sustainable finance

Following COP26 in 2021 and in line with current trends, there’s no doubt that sustainable finance skills will continue to grow in demand. LIBF is working with partners to develop qualifications and training in this area.

We've partnered with EFMA to deliver a masterclass on Sustainable Finance, looking at challenges and opportunities, the fundamental principles of sustainable development and  the relationship between sustainability, resilience, and business growth.

The class proved so popular in December 2021, that we've agreed to renew the programme for 2022. You can find our more and express your interest on the EFMA website.

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