2020 has been a tumultuous year for many industries. The coronavirus has wreaked havoc on the labor market for most of the year, but business is finally returning to (a new) normal for many sectors. The banking space has been able to adapt and even flourish in certain areas. As a result, banks are making significant hiring pushes next year. Here are the five hottest banking jobs in the new year.
Typically, banks are always looking to add commercial lenders this time of year. If you are searching for greener pastures in the new year, now is a great time to start looking so you can make the change mid-first quarter. If you are a commercial lender, relationship manager, or business development officer and aren’t super happy with your current bank, reach out to me about making a move. I can help you make that career transition to a banking institution that will appreciate you.
Many of my banking clients are looking for additional help within the credit space. This hiring push runs from the entry-level credit analyst roles all the way up to Credit Administrators and credit executives. With the uncertainty in the market, banks are looking for additional talent in this space to help them stay profitable and continue their growth.
Technology is always changing, and innovations are constantly evolving in this space. Plus, with millions of people now working remotely, the demand for IT professionals is at an all-time high in the banking environment. With this new shift to working from home, information technology and information security are in a massive growth state.
Usually, the mortgage space is not an area we talk about at the first of the year. However, over the last two years, the mortgage market has been one of the hottest spaces in banking. All things mortgage as well, not just MLOs. We are seeing record numbers of processors, funders, and admin roles. With interest rates at a historic low, mortgages will be a significant revenue stream for banks in 2021.
With the coronavirus causing millions to work remotely, banks are bulking up their risk department to improve their institutions’ safety. This growth is occurring in all areas of risk, such as analysts, VPs, and even SVP-level roles. Some organizations are even hiring Chief Remote Working Officers to improve the safety of their at-home workers.
Are you ready to make a career move?
So, those are the five hottest banking jobs we’ll see in the new year. There might be a few areas that are not as busy, but overall, banking institutions will be off to a hot start in the new year. Employers are finally making a comeback from COVID-19, and business is, for the most part, back to normal (except for the retail front levels). If you are in banking and considering making a career transition, now is the time to accept that recruiter’s call and have a discussion with them about your next career move. It might just be the best thing that happens to you in 2020.