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Banking jobs in Tanzania: the market

During its turbulent past, Tanzania suffered from several international sanctions, which saw the economic and banking sectors isolated from the rest of the world. As a result the economy as a whole began to suffer and led to a slow finance sector with very few job opportunities. This is no longer the case. Thanks to the end of the civil war and lifting of economic sanctions, The banking and finance sectors in Tanzania are coming back to life. Both sectors are feeling the need to catch-up to other international institutions and as a result they are looking to fill job vacancies. This means that the sector as a whole will have plenty to offer recent graduates and people looking to make a change.

Because there are so many different types of jobs available in this field the demand for high quality individuals is high. There are many different career paths available for people who currently work in the industry or who are looking to start. As a result there are many places where people can start their career off, but through hard work and a bit of luck who knows where it might finish. You could work in finance, trading, investment, insurance, data analysis or even as a cashier. Everyday there are more and more job vacancies opening up in the banking sector in Tanzania, which means there has never been a better time to get involved.

What kind of jobs can you find in Banking?

Banking careers are very interesting, the jobs are numerous and they vary widely in their scope of operations and responsibilities. An entry level position you can find in this industry is working as a Bank teller.

  • Bank teller: Bank tellers are found in all brick and mortar banks as well as many online institutions. The bank teller is the person a customer will speak to when they visit a branch or call. They are responsible for conducting many many of the everyday transactions of customers.
  • Branch manager: A branch manager is responsible for overseeing the day-to-day operations of a particular branch. They will also need to oversee specialized duties with regards to business operations as well as staff supervision.
  • Loan officer: Is tasked with helping individuals and organisations to borrow money. Also known as brokers, they usually specialize in one of three types of loans: commercial, consumer and car loans.
  • Credit analyst: It’s the responsibility of the credit analyst, to study the details of a person or company’s finances in order to determine the applicant’s ability to repay a loan. And make a judgement as to whether the bank or financial institution should approve the loan application.

The types of jobs you can find in banking and finance are not limited to working in a retail bank, there are plenty of job opportunities available for qualified individuals to become commercial and investment bankers. You can find a job as a financial analyst, trader, compliance officer, quantitative analyst and a portfolio manager.

What kind of qualifications and skills do you need?

When working as a manager or a specialist, involved in business and finance, you need at least a college degree. An accountant, credit analyst or auditor for example will usually have a Bachelor’s degree or a very specific qualification. A master’s degree is even necessary for top positions such as bank manager or branch director. Business school diplomas are another great alternative.

For executive positions, you will also need either a diploma or another qualification. If you have a degree unrelated to banking but skills in finance, accounting, data entry and/or sales, you could also manage to get an executive position in a bank. In a nutshell, a minimum level of education and some other skills will be your pass to the world of banking. But what are those other skills?

A good credit score, no criminal records, some references from your former employers, a good level of math and IT skills are great qualities and are very useful when working in the banking sector. If you are aiming at a position where contact with customers is important, you will need to show excellent communication skills, ability to understand customers’ requests, positive attitude to problem solving and excellent presentation skills.

Does this sound like the kind of career you’d be interested in? If that’s the case you shouldn’t delay any further and apply online to find some of the best jobs available in both banking and finance. Even if you’re just starting out, you’ll be able to find an entry level position that matches your skills and qualifications. If you’re established but are looking for a change you’ll find plenty of opportunities. Register now on Jumia Jobs and find your dream job in Tanzania.

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