The finance and banking sector in Dubai is experiencing a rapid growth which is being driven by the country’s robust economic expansion. As its economy continues to expand dynamically, the companies and organizations in the region are broadening their businesses and upgrading to latest market trends. Consequently there is a heightened demand for professionals in finance and banking sector, possessing diverse range of skills to meet the demands of this evolving industry.

Building a career in finance in Dubai, the global financial hub, is a dream place for finance and banking professionals. Dubai’s economic environment provides immense growing opportunity to people. In todays competitive market financial skills are paramount. This blog will talk about multiple skills that you must possess to advance your career in finance and banking sector, particularly in UAE.

Financial skills are important to employers

With the global economy, and particularly that of UAE’s, continue to expand, financial experts are becoming crucially important for employers in finance and banking sector. According to Fortune, about 82% of employers struggle finding financial professionals. This means that employers are always in search of the competent and proficient individuals due to emerging trends and needs in the sector driven by growing economies. Employers look for financial and accounting professionals who can introduce global practices in finance and banking to a local level to enhance their performance and competitiveness in global market.

10 essential for finance and banking sector

Technical skills

a.     Financial reporting and analysis

As a financial and accounting expert you must be able to understand basic financial terms and resolve issues such as analyzing financial statements, and interpreting data. Additionally, generating right reports is also crucial part of a career in finance. Financial experts are of great value to employers as they provide valuable insight and play critical role in strategic decision making. Such a proactive role of financial experts is significantly required in business involving financial services, and banking sector.

b.     Risk management

The UAE stock market is very vibrant, requiring financial experts to be proficient in risk management. Skilled risk management financial experts play critical role on protecting businesses from financial disasters. They identify threats and possible pitfalls to the business, and take precautionary measures to mitigate any financial crisis.

Regulatory knowledge

The finance and banking sector of Middle East is subject to both local and international regulations. Therefore, professionals in the field must remain abreast of latest laws, and the regulatory framework. Businesses and organizations in the UAE would prefer hiring professionals who would ensure their businesses compliance as per laws and maintain smooth operations of the organization.

Investment management

With the announcement of new development projects, the UAE has become a hub of global investment. With financial and banking professionals with expertise in investment management can optimize returns and drive growth of businesses and organizations. Investment management skills include asset management, strategic investment planning, market analysis etc.

Financial modelling

Financial modelling is another necessary skills for accounting and financial experts. It is important for forecasting and evaluating the performance of market. There are only a handful of individuals who are truly proficient in crafting the accurate models that allows the, to predict future trends, which ultimately helps stakeholders to take their decisions. Thus, skill in financial modelling support businesses in effective decision making, and drive their growth.

Proficiency in technical skills

Tech applications are found in every sector and the financial sector is different. Integration of technology in the financial sector is accelerating. Professionals with skills in tech such data analytics and other digital awareness are important for enhancing customer experience and streamlining daily operations.

Client-relationship management

In Finance and Banking industry maintaining client-relationship is crucially important. Finance and accounting experts who have strong client building and management skills are valuable asset for the employers. Such professionals foster trust between both the parties that drives the growth of the business.

Effective communication skills

In any sector, the art of effective communication is paramount. This is particularly true for finance and banking sector. Communication skills are widely employed while negotiating deals with clients, and collaborating with team members.

Management and leadership

With growth and advancement in career, leadership and management skills become crucially important. The ability to lead teams, build coordination among team members, and take initiatives is vital for senior industry roles.

Problem-solving skills and adaptability

Financial market of UAE is very dynamic, requiring experts who are adaptable and skilled in problem solving. The ability to navigate complex problems and provide innovative solutions is necessary for thriving in Dubai’s competitive market.

Embracing digital transformation

Understanding digital tools such as digital wallets and cryptocurrency is important for financial professionals. Moreover, the UAE efforts for becoming a cashless society requires financial and banking professionals to be proficient in these tools. Dubai is planning for becoming a block-chain powered city by integrating finance, real estate and other sectors with it. This indicates the importance of digital tools for finance and banking experts.

Roles in finance and banking sector in Dubai

The finance and accounting sector in Dubai offers a wide range of opportunities to professional at all levels. Some of the common in-demand roles in finance and banking industry in UAE are as follows:

• Compliance officer: Compliance officers in UAE ensures that organizations comply with the local and international laws.

• Financial analysts: Financial analysts are responsible for analyzing fiscal data. They help clients and investors in making informed decisions.
• Investment banker: They work with different clients in Dubai to raise investment or capital through different means such as debts, mergers, acquisitions, equity, and other financial ways.
• Relationship manager: Good and proficient relation managers are high in demand in UAE. They are responsible for making and maintaining relationships with clients, and ensure that their financial needs are satisfied.

How a recruitment agency can help in finance and banking sector?

Partnering with a specialized recruitment agency such RFS HR consultancy, can provide a pivotal support to both employers and the job seekers in the industry. Particularly in case of employment opportunities in Middle East in finance and banking sector, well-established recruitment agencies provide both all kinds of services to their clients from executive search services to tailored recruitment solutions. Therefore, while connecting with a recruitment agency in Middle East, make sure that it has different experts with industry experience. Experienced recruiters are proficient in connecting both job seekers and employers to each other as per their skills and demands respectively.

Opportunities to gain by leveraging services of RFS HR Consultancy

RFS HR Consultancy is among renowned and experienced recruitment agencies in Dubai. Our services are there to benefit both job seekers in Middle East, and for employers requiring expert talent globally.

At RFS we provide range of services such as executive search services to match career aspiration and skills of candidates and streamline the hiring process for companies and organizations. Additionally, RPO services are also being offered, that help in making insightful decisions.

If you want to avail our services, or want to learn more about us, the contact us today and reserve you spot with us.