Business Analysis

Otap from performing credit reviews for borrowers to analyzing deposits and other transactions, banking business analysts complete financial analysis to ensure the efficient operations of financial institutions. In addition to banks, these professionals can work for lending institutions, mortgage companies, investment firms, or credit unions. Banking business analysts usually work in fast-paced environments where the reports they submit are needed to complete loan applications, approve credit lines, open accounts, and other time-sensitive transactions. Banking business analysts typically work full-time either with a company or as an independent consultant. These individuals work closely with banking managers, underwriters, loan officers, and other financial professionals.

The role of the banking business analyst is marked by strong analytical skills applied in deadline-driven environments coupled with knowledge of banking, lending, and investing concepts. A four-year degree is often needed to work in this field, as are the following skills:

  • Computer skills – it’s essential for banking business analysts to be familiar with specific accounting and other financial software as well as Microsoft Office applications, such as PowerPoint to make necessary presentations and Word to correspond with banking officials, lending officers, and other professionals
  • Financial management skills – from generating financial statements to conducting tax return reviews, banking business analysts must be knowledgeable about various accounting and financial concepts and principles
  • Attention to detail – mistakes in this field can lead to costly delays, so it’s imperative that banking business analysts evaluate reports and applications with a careful eye
  • Time management – banking business analysts must consistently meet deadlines when it comes to loan closings and daily transaction reports
  • Decision-making skills – often working under little supervision, banking business analysts must make quick, independent decisions about green-lighting loans and credit applications
  • Organization skills – keeping orderly records concerning client information and compliance documentation is crucial for this profession
  • Teamwork – banking business analysts must be able to collaborate with loan officers, underwriters, banking managers, accountants, and other professionals
  • Communication skills – in this occupation it’s important to communicate with clients and other banking professionals verbally or via written correspondence; strong presentation skills are also beneficial
  • Problem-solving skills – banking business analysts must devise creative solutions for clients with financial issues affecting their loan or credit status