I have been asked this question by several hiring managers from top-tier investment banks early this year.

Traditionally, a business analyst plays a significant role as the bridge between business users and the information technology division. Professionals in this role tend to possess strong communication skills with sound understanding of the business processes in specific domains, as well as substantial technical know-how.

Given the challenging market condition, the majority of investment banks are talking about cost reduction and cost saving which has posed vigorous discussions about whether an application developer can do a business analyst’s job.

In fact, this is already happening in several top-tier investment banks. Line managers tend to look for all-rounded professionals not only technically strong in programming, but also have the capability to communicate effectively with business stakeholders.

Based on such findings, I would like to share several tips below for a developer who is keen to secure a position with a global investment bank:

• Research and gain an understanding of the business domains you are about to interview for, i.e. equity derivatives trade flow and processes, meaning of pricing engine, what’s the flow of trade confirmation and settlement, etc.

• Remember to clearly elaborate on your work experience, project exposures and your strengths and weaknesses. Give a breakdown of what kind of projects you have worked on, the size of the project in terms of budget, the people involved, the achievement and results etc, and highlight your technical skills.

• Prepare for scenario based questions, most of the time there is no exact answer for these questions. Employers are looking to see how you would handle specific real-life situations through the way you think, your approach and how you solve the problem. Be sure to show you understand the situation and refer back to your own experience where you delivered a positive result.

• Lastly, initiate questions during the interview to show your interest in the company, the job and in interacting with business stakeholders.

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As we all know 2012 is not going to be easy for many job seekers in the banking and financial services sector. Talk of budget constraints, projects on hold and job cutting in investment banks is not uncommon at the moment

However, for most top-tier banks and financial institutions  keen to out-run their competitors in the market, client servicing and process improvements are often the key success factors in which technology advancement plays a very important role.

Given the fast-paced and result-oriented nature of the investment banking field, jobs just have to be done, direct contracting or secondment contracting are on the increase. So, have you considered taking a contract role?

Below are a few tips to successful contracting:

1) Using your technical skills to the needs of your clients

Finding a position that meets most of your skill set is not always easy. Whether you are an application developer, project manager or infrastructure specialist – be patient, diligent and continue to build and develop your skills along with your contract career path.

2) Maintain a client-oriented attitude

This will greatly impact how your work is received by your clients. Approach your work with a  no-ego, service-oriented persona and be sure that you fully understand the scope and schedule of your role and focus on getting the job done with the highest quality. This is key in proving your ability and increases your chances of a contract extension or a possibility of a permanent position.

3) Certainly, change is inevitable

You never know how long a project could last or when a project will end, given the different internal factors and external market turbulence. You must always be ready for anything to happen, be sure to continue building on your technical skills, keep your options open and be flexible without any complaints. Enjoy your assignments but keep open to other potential opportunities.

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