Provide a wide range of job opportunities and experiences? Build your confidence by helping you develop new skills? Encourage on-the-job training and reward achievements in higher education? Challenge you to solve problems and help others manage their finances? Offer opportunities for leadership and community service?
Do you want a career in a field that offers its employees competitive salaries and fringe benefits, opportunities for career advancement, education and training, job flexibility, and excellent working conditions? Do you want to work for an industry that is interested in and proactive about hiring people with a wide diversity of skills and interests?
Take a look at a career in banking.
Today’s banks are a whole new breed. Far different from the typical financial institution of just a few years ago, today’s banks offer many new and exciting products and services — and many diverse career opportunities. Today’s banker may be a computer programmer, an attorney, a public relations specialist, an electronic banking expert, an accountant, a human resources manager, an agricultural expert, an economist, a teller, a sales representative, or a loan officer, to mention a few. Whatever your talents, interests, and educational background, there is a career in banking for you.
So what do banks do anyway?
With the advent of computer technology, banks offer the convenience of 24-hour automated teller machines (ATMs) and debit cards as well as more efficient checking, savings, and loan services. Banks are continually introducing new and innovative services like online banking, loan applications by phone, and supermarket branches to meet the changing needs of their customers — both businesses and individuals. Banks regularly perform such merchant services as issuing paychecks and sending out monthly statements for large businesses. Customers can use their bank to make their mortgage payments and handle other bills automatically, and take advantage of bank credit cards like VISA and MasterCard. Today’s full-service banks also sell traveler’s checks and savings bonds and rent safe deposit boxes. Many offer insurance, investment, brokerage, and international banking services as well as financial counseling for businesses and investors. You can be part of this challenging and fulfilling environment. Take a closer look at the many opportunities you can enjoy with a career in banking.
The Research paper on The Role of Information Technology in the Marketing of Bank Services in Nigeria
Ifezue (2003:38) lists some banking services that had been revolutionized through the use of information technology as including account opening, customer account mandate, and transaction processing and recording. The financial service industry had been subjected to various major transformations due to advancement in computers and telecommunications. Information technology (IT) infrastructures are ...
Banking is essentially a service business. Bankers identify the financial needs of each segment of society — business, government, and consumers — and then develop banking services to meet those needs. Some of the more familiar services include checking and savings accounts, certificates of deposit, and individual retirement accounts. Banks also provide their customers with loans to start a new business, expand an existing commercial venture, or purchase a home or car. Banks often assist college students who need financing to cover their educational costs.
What kinds of career opportunities are available in banks?
While you may be most familiar with the tellers and customer service representatives at your own financial institution, there are many other employees who work in key areas of a bank. For example:
Bank Administration/Accounting/Security — handles the bank’s internal operation Consumer Banking — delivers financial services to individual customers Commercial Banking — delivers financial services to businesses, schools, churches, and other organizations Compliance Officer — provides strategic direction, ensures bank abides by industry laws and regulations Human Resources Administration — manages employee placement, salaries, benefits, and training Operations/Technology/Information Systems — provides record keeping, bookkeeping, and information processing Public Relations/Marketing — conducts research on bank services and promotes them through advertising Trust and Investment Banking — manages money or property for others
Before discussing the role of consulting service firms in procurement of Information Technology resources and solutions, we will first describe some rules of thumb that dictate the selection process for aforesaid purpose. The basic rule is “the simpler the better”, but this often leads to oversimplification of complex tasks (Braley, 2009) and we must avoid wastage of time and resources that occurs ...
The exact nature of each job varies from bank to bank. For example, a large urban bank may hire a great number of specialists to handle technology development and online transaction services. A small community bank may ask its employees to handle many different responsibilities within several departments or divisions, such as developing a marketing campaign, heading up a sales team, and assisting in Web site development. Regardless of a bank’s size, all bankers serve customers. Some — tellers, customer service representatives, account executives, and mortgage, consumer, and commercial lending officers, for example — have personal contact with customers. Others work behind the scenes to support and assist front-line bankers. Customer satisfaction is every bank employee’s primary responsibility. Salaries in banking are attractive and competitive with other businesses and industries. Your own salary will depend on your educational background and previous work experience. You can expect your salary to grow as your responsibilities within the bank grow.
What is the
employment outlook for banking?
banking technology continue to expand, tech-savvy individuals will always be in demand. The banking industry, like many progressive industries, continues to embrace technology and the rapid changes that technology brings, in order to keep pace with its competitors and to provide outstanding service for its customers. Advances in technology make it possible for machines to be used for tasks that were previously performed painstakingly by hand. Today’s bank staff must be well trained and eager to operate the computers and machines that run the banking operations. While some banks unite to form more efficient, effective organizations in this ever-changing marketplace, the need will remain for bright employees who are willing to grow and change with the industry in the 21st century.
In the book Making Fast Food: From the Frying Pan into the Fryer, the author, Ester Reiter examines how the fast food industry changed the lives of many. In 1982-83, Ester Reiter, an assistant professor in Sociology at Brock University, spent five months working at Burger King. Much of the observations and research presented in the book are the author's real experiences and opinions during her ...
Banks rely on the high level of trust that customers place in their financial institution and on the people who work there. Therefore, every bank’s success is due in large part to the dedication and skill of its people. There will always be a need for banks to hire and train talented, motivated, resourceful, and customer-oriented people. Your success will depend on your commitment to the bank, your aptitude for developing knowledge and skills, your positive attitude, and your ability to work well with others and adapt to a changing industry. Two trends currently affect the industry and the people employed by American banks across the country and around the world: technology and consolidation. According to the Federal Reserve Bank of Cleveland, “the net effect of these two changes has been to raise the skill level of the banking industry’s labor force.” As e-commerce and online
training and advancement prospects?
In addition, many banks rely on the American Bankers Association for a variety of conferences, schools, online courses, telephone briefings and Web casts to keep up with current banking trends. In many cases, these activities are also an opportunity to earn continuing education credits. Certificate and diploma programs are offered through the ABA. Visit www.aba.com for more details. The banking industry also sponsors national, state, and local conferences and workshops to keep employees updated on developments within the industry.
There are many opportunities to broaden your knowledge and skills at a bank. Most banks offer on-the-job training and encourage you to further your education through a variety of courses, seminars, and training programs. Banks often set up tuition assistance and reimbursement programs for job-related coursework to help employees increase their capabilities for current and future positions. Many large banks have training departments dedicated to helping employees maximize their skills and talents through in-bank educational programs.
What are the
qualifications for a career in banking?
The career that I have chosen to research is the Bank Manager. The bank manager has to have excellent people and communication skills, also they have to be outgoing. A bank manager has many duties such as making recommendations for employee raises and promotions. They also answer any questions, concerns, or deal with complaints that tellers or customers have, and they make sure the customers are ...
Today’s bankers enjoy working with people, have a professional appearance, can communicate well, and are accurate, innovative, responsible, honest, sales-oriented workers who are dedicated to community service. A career in banking is open to everyone, regardless of race, gender, national origin, age, or physical capabilities. Remember, banks hire and train people who are interested in learning and working. Aptitude and attitude are essential to your success. If you are an individual seeking growth and challenges and are willing to accept responsibility, banks will be interested in you.
A good academic and attendance record — whether from high school, college or vocational school — is essential. In addition, a good credit history is required. While a college degree is helpful and often necessary for a bank officer’s position or a specialized function, it is not a requirement for working in a bank. Numerous opportunities exist for highly motivated individuals who are devoted to serving bank customers.
High School Diploma
The following courses are recommended:
A Business Administration degree or a Liberal Arts degree with the following courses is recommended:
Accounting, bookkeeping, business writing, computers, economics, math, and public speaking Positions to consider:
Accounting, business law, business management, communications, computer programming, economics, marketing, and finance Positions to consider:
Accounting Clerk Administrative Assistant Courier Computer Service Representative Data Processor Loan Assistant Operations Processor Proof Operator Receptionist Sales Representative Security Guard Teller
Accountant Anti-fraud Investigator Commercial or Consumer Loan Officer Compliance/Risk Management Officer Computer Programmer/Systems Analyst Credit Analyst Division or Branch Manager Human Resources Administrator Market Researcher Public Relations Specialist Trust/Investment Officer
working hours at a bank?
evening employment. Banks that have expanded hours on evenings and weekends will offer customer service personnel greater flexibility in work hours. Part-time positions are available in some banks, particularly in customer service positions such as tellers.
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Most bank employees work approximately 40 hours a week, some of which may include weekends and evenings. The hours of your particular position will be determined by the type of work you do and the size and location of your bank. Large banks often have operations centers that offer
Banking might be the answer to your career goals.
What’s the next step?
Contact your school’s vocational guidance counselor or placement officer and see if your skills and experience are suited to a banking career. Participate in a “job-shadowing” program sponsored by your school and a local bank so you can actually experience a day in the life of a banker. Talk to those who already work in a bank. Why did they choose a banking career? What do they enjoy most about working for a bank? Contact your local bank’s human resources department or go online to learn more about their career opportunities. Write to your state bankers association for additional information or visit the American Bankers Association Web site at www.aba.com
Whatever path you choose to follow, on behalf of all bankers, we wish you success and personal fulfillment in the career of your choice. Good luck in your job search.
ABA Education Foundation 1120 Connecticut Avenue, NW Washington, DC 20036 Visit us on the Web at: www.aba.com/Consumer+Connection © 2006 American Bankers Association Education Foundation, Washington, D.C. Permission to reprint granted.