This easy 5-step guide is all you need to find a job in BFSI sector
As organizations implement large-scale projects, fintech industry leaders predict a huge demand for finance executives, credit controllers, tax managers, anti-money laundering specialists, mergers and acquisitions (M&A) associates and other professionals from the banking and finance sector across the UAE, particularly in Dubai. And, with this positive outlook, hiring managers believe job seekers with the right mix of skills, expertise and experience are more likely to attract higher remuneration, making the environment extremely competitive.
So, if you are looking for a job in banking and financial sector in Dubai, here are five things to keep in mind.
Know your strengths
Understand your strengths and use them to your advantage. Figure out what role suits you based on your past experience, skills and educational qualifications. Generally, candidates with five to eight years of industry-specific experience within the Gulf Cooperation Council (GCC) are in demand. If you have internationally recognized qualifications such as ACA/ACCA/CA/ CFA/CIMA/CPA or have skills in financial planning and analysis, ERP or cash management, you should easily find a job in the SMEs (small-to-medium enterprises) across the UAE. Other prized roles are CFOs, tax accountants, treasury managers and financial analysts. However, don’t blindly apply for all kinds of roles just because you want to make it to Dubai.
Tailor your CV Make sure you aren't cluttering your CV with all your achievements, instead, tailor your CV according to the job you’re applying for. Sometimes you may not have direct experience in performing the functions mentioned in the job description, but you might have done something similar. So, showcasing relevant statistics and figures or highlighting information on the difference you made helps your CV stand out from the rest.
Moreover, some popular degrees that help land a banking job in Dubai include Masters in Banking & Finance, Investment Banking, Finance and Risk Management, Business Analytics, Data Science (Big Data), Economics, International Business, including professional certifications and MOOC courses.
Use your network to get the right jobs
If you’re already in the banking and finance industry, that’s great. You already have friends, colleagues, managers who may have made the shift to Dubai. Even if you don’t know anyone directly, dig a little in your social circle and you will find that you know someone who knows someone who could help you in your job search. Networks and references become invaluable sources that can pull strings to help you get what you want, especially if you’re applying for a job in a foreign country.
Make the best use of job boards
A smart option is to choose a job site like Monster Gulf that is solely dedicated to job opportunities in the Gulf region. Use features like job alerts to save time and get quick updates on your dream jobs. Also, make sure you avoid so-called consultants who demand money for arranging an interview. Remember, legitimate recruiters will never do that as they get paid by employers.
Stay abreast of what’s happening in reputed financial institutions in Dubai along with their job openings and pay scales. Emirates NBD, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, First Gulf Bank, Dubai Islamic Bank, Mashreq Bank, Abu Dhabi Islamic Bank, Union National Bank, Commercial Bank of Dubai and RAKBANK are some of the prominent employers in this region.
Stay abreast of latest developments
A sound understanding of the banking and finance sector and familiarity with the latest developments is key to stay on top of the sector, particularly in the competitive job market. Additionally, strong numerical abilities and an analytical approach to things are some of the highly desirable skills that employers look for in prospective candidates. Besides good communication skills in English, candidates who are proficient in Arabic stand better chances of impressing the employer. Also, before sending an application for any job, it is advisable to read up about the company from all possible sources including social networking sites and internet discussion boards. This will help you to understand the company better and decide if you can fit in the organizational culture.
Are you ready to take the plunge? All the best! Search and apply for BFSI jobs here.