If it has always been your dream to get a BFSI (Banking, Financial Services and Insurance) job in the Gulf, don’t lose hope. Despite the negative impact of falling oil prices on GCC banks, experts are confident that the sector will bounce back soon.
“Despite headwinds generated by low oil prices, we expect a broadly supportive operating environment for GCC banks in 2016 due to regional governments’ commitment to their countercyclical spending policies,” Khalid Howladar, a Senior Credit Officer at Moody’s, told Gulf News. “Events such as the UAE Expo 2020 and World Cup Qatar 2022 are providing anchors for capital expenditures in addition to other key regional infrastructure projects.”
If you’re interested in a BFSI job in the Gulf, run through our checklist of core skills you’ll need. These attributes are what employers want to see in applicants seeking a job in the BFSI sector:
The ability to stay on top of the sector
An in-depth knowledge of the sector and familiarity with the latest developments is necessary to remain competitive.
The skill to grasp new concepts and analyze
A recruit with an analytical brain, numerical ability and learning agility scores way higher than one who knows it all but can’t evaluate.
The competence to get familiar with technology
There’s no sector that the advance of technology has left untouched. A knack for learning and understanding new technology can give you an added advantage.
The ability to communicate clearly
A fundamental skill, communicating clearly – be it in the verbal or written format – is what helps you get along with colleagues and clients. If you communicate well, chances of persuading others to listen and much more rise exponentially.
The skilfulness to get along with people
The BFSI sector needs great people skills, basically competencies that allow you to play well with others. Are you able to relate to others, have patience, able to listen and show empathy?
The capability to stay true and display integrity
Whether it’s a bank, mutual fund or insurance firm, the BFSI sector is all about money. But naturally personal integrity is an invaluable quality!
The smartness to be resilient and stay afloat
With things constantly shifting in the global economy, an employee who can weather challenges, and thrive in demanding and taxing times will be valued.
The BFSI sector is not a large, monolithic establishment where all employees perform the same role. While the above attributes apply to a majority of jobs, each division also requires a specific core skill set.
Investment banking candidates need to be sharp, intellectually curious and must possess good knowledge of current affairs.
Likewise, to thrive in the retail banking or insurance industry, candidates should display good problem solving abilities, be adept at time management, be a team player, and possess leadership skills.
If you have the attributes listed above and are interested in a job in BFSI sector, there’s a good chance you’ll shine!
