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Modern Analyst Forums Careers Career Advice &... Business Analyst - Finance vs Operations

12/10/2009 6:13 PM

	Tawhid
2 posts

Business Analyst - Finance vs Operations

Hi all

This is my first post on the forum - having read a number of posts, I get the feel I should have been here long ago - very good stuff.

A brief about me: I did my undergrad in Computer Science and heaven knows how I passed. I joined as a Junior Business Analyst for a Telecom Operator. My role there was to understand the requirements of a new commission based system and write SQL that the Billing and Sales teams would use to pay resellers their reward bonuses. I did this for two years and felt going for a change and hence did a Masters in Finance - mostly which involved Financial Data Analysis.

Ironically that's when the financial meltdown took place, so I had to take up a new job as a Business Analyst in another telco but more on a data management track - here I was gathering requirements and translating them to developers or writing SQL; my SQL skills proved more efficient than expected and I was in charge of data migration exercise for the company's Incident Management system.

To sum it up - I've got over three years of Business Analysis experience, but working so much with SQL that it feels like I've deviated into being an SQL Developer/Data Architect.

Sadly, I don't have certifications to back up any of the above roles I have been serving. I think it's time I take my career to the next level but not sure which steps to take:

1. Do a certification - not sure though what the market wants, SAP, Business Intelligence, etc. Any suggestions?

2. How easy is it to switch tracks - for e.g. how do companies view the difference between working with Financial Data and Telecoms Data?

3. Are there beefy Data Analyst roles in the Finance sector - or does that imply it needs accountancy experience?

4. What sort of measures are used by companies when they recruit Business Analysts - do they consider the industry sector to a great detail?

The motive for the post is actually an aspiration to move from the IT/Telecoms environment to the Finance environment hence the hesitation to place this thread knowing most members here are from the IT track.

Many thanks in advance for any replies

Tawhid

12/11/2009 10:10 AM

	Jarett Hailes
155 posts

Re: Business Analyst - Finance vs Operations

Hi Tawhid,

Welcome to the forums! I've been involved in Finance a fair bit myself - my undergrad minor was Finance, I was part of a Student run real-money investment fund for the University and also developed financial algorithms for derivatives and equity analysis.

What specifically are your career aspirations? What role do you ideally want to be in 3-5 years? Making the move from IT to a Finance position is not impossible, but it would helpful to know exactly what type of career in Finance you're looking for. You mention Data Analysts, of which there are many types in Finance. Think about the type of analysis you'd like to be performing day in day out - is it strictly number crunching? Do you want a more social component (e.g. equity analysis)?

With respect to your fourth question, most companies would prefer that a BA has industry experience but depending on the job market and your previous credentials they may be willing to hire you regardless. As a consultant I have experience across many sectors, which helps demonstrate that I can pick up a new line of business quickly. If you're looking to transfer to a new sector long term the more you can demonstrate knowledge in that area the better, even if it isn't through professional experience. Depending on the specific career path you're looking for, some certifications may help (e.g. completing FINRA/NASD certifications if you're in the States).

12/11/2009 10:46 AM

	Tawhid
2 posts

Re: Business Analyst - Finance vs Operations

hi Larimar

Thanks for taking the time to reply.

I've learned there are Back Office roles in Investment Banks where they value skill sets in Data Modelling / Data Analysis. Product Structuring might be an option I'd like to explore given I've done that during my masters. Working with numbers and reports can be boring, so I'd probably enjoy designing products based on statistics etc. Forecasting and Trend Analysis across large data sets is something else I've enjoyed when working with Stocks, Equities, and Asset prices.

It would be foolish to start new just for the sake of getting into Finance - which is probably why I want to build on what I have already and then see where it takes me. What do you say?

Thanks again for replying.

Tawhid

12/13/2009 11:17 AM

	Jarett Hailes
155 posts

Re: Business Analyst - Finance vs Operations

Hi Tawhid,

Given your background and education I think you would have a good opportunity to work in an IT shop in an i-bank or prop trading unit. I don't know if they've started to hire again (there was quite a bit of downsizing after the meltdown), but use a site like indeed.com to start looking for positions such as 'Data Analyst', 'DBA', and 'Business Intelligence Analyst', etc. Depending on your soft skills and ability to translate the information between Finance gurus and software developers, you could even look for a BA position in one of these companies, which would give you more access to the individuals who would be involved in your ideal role (or in your ideal role).

Good luck!