Whenever there is a branch, there is the potential for a career in banking. Some of these jobs include accountancy, financial services, and commercial banking. Apparently, careers in banking and financial institutions offer jobs that are on the money. Even with improvements in electronic banking, branches are not disappearing. Banks are necessary to any country’s economy, especially in terms of its Gross Domestic Product or GDP.
People who work in banking do a wide range of tasks and duties. Like some other industries like information technology, banking is dynamic and therefore changes are inevitable. The banking sector is usually the first to profit from new technologies.
Work in banking can be divided into two categories: employees working in the head office and those who work in the frontline. Head office staff usually work behind the scenes, while frontline employees deal with customers that include management and branch employees.
Roles of Head Office Staff
- Advice management
- Analyze competitors and set pricing
- Prepare marketing strategies
- Meet with third-party companies
- Manage staff
- Prepare and manage budgets
- Devise strategies
- Develop new products
- Set interest rates for products
- Conduct financial analysis
- Assess investment risks
- Oversee project management
- Develop systems and programs
- Forecast economic indicators
- Develop managed funds
- Conduct training workshops
- Maintain online services
Roles and Tasks of Frontline Staff
- Manage staff
- Train and mentor or coach staff
- Advice on products and services
- Advice on investment
- Drive sales targets
- Serve customers
- Sell products and services
- Sell home loans
- Perform teller duties
- Open accounts
- Build relationships
- Perform administrative tasks
The banking and insurance industries are some of the fastest growing sectors in career opportunities. Many banking professionals are employed by top banking corporations. Other job opportunities can also be found in financial institutions including credit unions, building societies, and other regional banks that operate head offices, processing, and call centers all around the country.
General Characteristics of a Good Banking Employee
What makes a good banker? Some traits of a person who makes it to the banking and financial services include the following:
- Perceptive and good with people
- Builds relationships
- Responsive to customer needs
- Flexible as need arises at work
- Disciplined
- Good attention to detail
- Pedantic and solid in integrity
- Vision and drive
- Good analytical and numeracy skills
- Good spoken and written communication skills
- All-round business skills
- Organizational skills
- Ability to multitask
- Understanding of processes and systems
Banking and Financial Jobs on the Money
Working in banking is challenging and rewarding. Some of these job opportunities in banks and financial institutions include accountancy jobs, banking services, financial services jobs, commercial banking, and other graduate banking jobs.
To get ahead, a potential banking employee is expected to work hard and be able to cope in a constantly changing environment. Banks and financial institutions are in tight competition in an environment that can change dramatically on any given day, either with new government regulations or a new product being introduced by a competitor. In return, good workers are usually rewarded with a higher salary and rapid internal career progression.
Interested readers may want to check out these related articles: Job Analysis and Job Descriptions, Communication Skills Making People Listen and How to Negotiate Successfully.
Sources:
Hackshall, Michelle. Banking Careers. Sydney: Career FAQs Pty Ltd, 2007
Dominguez, Joe and Robin, Vicki. Your Money or Your Life. New York: Penguin Books, 1992
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