Corporate banking offers lucrative option for those who are just starting off, says Amit Goyal

Banking professionals handle client’s money. In simplistic terms, they help individuals and corporate with their investments, loans and all other money related issues. When we hear the words corporate banking, you might immediately think of loans. Or, we might be confused about what corporate banking means and how it's different from commercial banking and investment banking. In either case, your thinking would be justified. In India corporate banking is now the better career option for the younger student.

Corporate banking is a broad vertical within a commercial bank that takes care of the banking requirements of companies of any size — from micro, small, medium to large multinational conglomerates. Under corporate banking, there are further verticals specialising in providing banking solutions to micro set ups, small and medium enterprises, so and so forth. As the complexity of organisation increases, which generally comes with the size of the company, the banking needs also differ.

Take for example a small mom and pop shop in your neighbourhoods, the likely services the business would require would be depositing their daily sales proceeds and making payments to their suppliers. On the other extreme a large global corporate with presence in multiple geographies will have different set of challenges like bidding for projects or requirement for international payments in different currencies.

Job profile

The bankers deal with companies rather than everyday people. Their clients range from small and medium sized companies to huge conglomerates. The products they offer include treasury services, loans and credit, trade finance, and employer services.

Corporate banker’s responsibilities include: Meeting with and interviewing corporate and personal customers, discussing their financial requirements, and providing appropriate financial advice. They are advising corporate clients about mergers, acquisitions, capital markets etc. preparing lending agreements promoting the bank's services planning and problem solving writing reports managing projects training and supervising junior banking staff.

Responsibilities

• Interacting with the business customer, understand their underlying needs and provide them solutions in a timely fashion
• Corporate/business banking also involves business development and new income generation for the bank by way of deepening existing customer wallet and by winning new customer to the bank.
• If and when a customer faces challenges in the bank, they usually contact their designated Relationship Manager and request them to get involved in the situation and resolve it for them.
• Working closely with the Relationship Manager to deliver the right solution.
• Maintaining strong working relationships with all team members and stakeholders.

What to study?

Although there is no prescribed specialisation that one must have in order to be a corporate banker. However, for few roles the hiring manager may prefer a particular stream or background.

 For instance, for an analyst role, a degree in mathematics, statistics may be desired due to the analytical nature of the job. Similarly, for a customer-facing role that involves business development, a specialisation in sales and marketing or finance may be desired. Ideally a post graduate diploma in banking and finance from a reputed institute is the next best step to start a career in corporate banking.

Skills

Be a trouble-shooter for the customer. Customer service is at the heart of banking. Good communication skill, a can do attitude and an affable personality is what is looked for when selecting a candidate. Technical knowledge in banking can be added bonus for lateral recruitment. For a fresher, it is imperative that the candidate is enthusiastic, keen to learn on the job and can connect well with the customers.

Other skills, which can go a long way in a banker’s career, are being proactive, attention to details, creative and customer focused.  There are many key skills:

• Analytical ability
• Numeracy skills
• Verbal and written communication skills
• Very good interpersonal skills
• Negotiation skills
• Discretion
• Attention to detail
• Ability to priorities, manage time and work under pressure
• Willingness to work long and unsocial hours.

Remuneration

A corporate banker can work in a variety of fields and locales. The annual salary for corporate bankers ranges between `5 lakh to `8 lakh and is dependent upon the level of experience, type of industry, and geographic location.

The writer is director of TKWs Institute of Banking and Finance