Transitioning between Industries in IT Audit
How feasible is it to transition from a Senior IT Audit position in a FTSE 100 Consumer Goods company to a Banking role? Once you’ve established yourself in a specific industry, are you largely confined to that area, or are there pathways for moving between sectors?
Best regards,
One response
Switching industries in internal IT Audit can be both feasible and challenging, depending on several factors. Here are some considerations:
Transferable Skills: Many skills developed in IT Audit roles, such as risk assessment, compliance knowledge, and analytical skills, are transferable between industries. For example, your experience with regulatory frameworks in the consumer goods industry can be relevant in banking as well.
Understanding Industry-Specific Regulations: While the core principles of IT Audit remain constant, the banking sector has specific regulations and standards, such as Basel III, SOX, and various financial compliance requirements. Familiarity with these can enhance your transition prospects.
Networking and Professional Connections: Building a network within the banking industry can help facilitate your move. Attend industry events, join relevant professional groups, or connect with colleagues in the banking sector to explore opportunities.
Certifications and Education: Consider pursuing additional certifications that are valued in banking, such as Certified Information Systems Auditor (CISA) or Certified Internal Auditor (CIA), which can strengthen your candidacy.
Highlighting Relevant Experience: When applying for banking roles, emphasize any experience with financial audits, cybersecurity, or data protection that relates to the specifics of banking.
Company Culture and Willingness: Some organizations are more receptive to lateral moves than others, so research potential employers and understand their culture regarding career progression and cross-industry hires.
In summary, while there may be some challenges due to industry-specific nuances, with the right skills, connections, and preparation, transitioning from a consumer goods IT audit role to banking is definitely possible. Good luck!
Best regards.