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“ How can I gain knowledge and useful experiences without having worked within the banking or financial sector? ”

Marc L. asked a question
during the live chat Meet the Graduates & Interns of Commercial Banking in Lloyds Banking Group
to Lloyds Banking Group Recruitment Team

09/11/2018
39
10 Live chat
I'm thinking about a career change.
09/11/2018
Analyst- Financial Institutions, Lloyds Banking Group

Hi Marc, having worked in retail and studied Psychology, I didn't know much about banking until I started at Lloyds Banking Group. My tip would be to build out your network. I used to headhunt for Banks and PE Firms so I would often reach out to associates for coffee to learn about their role and career journey. Be active on LinkedIn - this is very key! There may be alumni from your university that completed your course in the finance sector. Otherwise, Google is your best friend. You can find out a lot by searching about the different roles on offer - the skills they require and concepts they cover.

Also, check out Investopedia. They cover financial concepts in a simple and easy to follow way, so it's a good way to build your technical knowledge. Lastly, if you're still at uni - try to speak with the lecturers who cover more finance related subjects for some recommendations of good reads :)

09/11/2018
Associate Business Development Manager, Lloyds Banking Group

Hi Marc, thanks for your question! My advice would be to utilise your social and professional networks to see if you have any contacts in the financial sector, following that reach out to some people (you can use LinkedIn) for a coffee chat to speak to them about what they do and their general experiences in the banking sector. In addition to this you can subscribe to The Economist, and the FT to keep updated on the current financial climate. Have a deep dive into the Lloyds Banking Group website which contains lots of important financial information on the products and services we offer as well as the general banking landscape.

09/11/2018
Graduate Relationship Manager, Lloyds Bank

Commercial awareness is also a big part when showing interest into an industry, there's a useful website called BCG Perspectives that discusses hot topics within commercial banking such as the digital revolution etc etc. They're designed for the public as well so are really easy to follow.

09/11/2018
Marc L.

In terms of courses I could add alongside my CV during an application process, is there anything additional I could do that would be advantageous?

Note: I currently work as a Project Manager within the engineering industry with the aim of transferring to a Project Manager role at Lloyds.

09/11/2018
Associate Business Development Manager, Lloyds Banking Group

Marc, that is fantastic that you already have commercial/business experience as a project manager in the engineering industry. I'm sure lots of the role expectations and key deliverables are similar to the banking industry (such as project deadlines, time management, interacting with different internal and external stakeholders). My best advice would be to try and relate these to the financial industry in general terms, i.e how has a project that you have managed been successful and in what ways do you think you could translate that to a banking environment!

Have you looked into professional qualifications that you may be able to complete alongside your work in the engineering industry - such as CIMA or CFA? Or any more specific project management qualifications such as APM?

09/11/2018
Graduate Relationship Manager, Lloyds Bank

It's about transferrable skills, how can you apply what you currently do to Lloyds. I'm not sure about specific courses unless you're looking at a master's or MBA. Interview stage would be discussing those skills and then your interest in Banking.

09/11/2018
Marc L.

Thank you for the advice. However, unfortunately, I have failed at the application stage a couple of times due to a ‘lack of banking financial experience’. Although, I do have the APM qualification.

09/11/2018
Analyst- Financial Institutions, Lloyds Banking Group

Marc, I think it's important to show youre keen. Be honest that you don't have direct financial experience but talk about the reading etc you are doing to improve it.

09/11/2018
Graduate Relationship Manager, Lloyds Bank

Sorry to hear that, for the graduate scheme there is no experience needed. It could be a good way to get your foot in the door!

09/11/2018
Emerging Talent Assistant Manager, Lloyds Banking Group

Thanks for your questions Marc - if you have any other ones then please do contact us here
www.lloydsbankinggrouptalent.com/chat-to…  and good luck with the rest of your career journey!!

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