If you’ve ever walked into a bank, you’ve probably witnessed tellers at work. The basic work of a teller is to receive deposits and pay cash to customers making withdrawals.
The main skills you will need are numerical and mathematical as you will have to balance your accounts on a daily basis. However in the course of your day to day work you will also need to show some interpersonal skills as you interact with customers.
High School Diplomas are sufficient for this role, but college graduates may occasionally find themselves having to work their way up from this position as the industry is now so competitive.
Retail bankers (also called personal bankers) are the people who manage bank accounts for individual customers. Their day to day tasks include selling the products of the bank to individuals who may or may not already have accounts with the bank.
An undergraduate degree in finance, marketing or any business related subject, as well as demonstrable communication and persuasion skills will be required for this role.
Corporate bankers are people assigned to manage banking relationships with large organizations such as international NGOs and Corporate Organizations.
Such clients typically deposit huge sums of money into their accounts, thus most banks designate their best and brightest staff to manage relationships with corporate account holders.
Again, a college degree in finance, marketing or any business related subject, as well as demonstrable communication and persuasion skills will be required for this role.
Everyday an averaged sized bank will receive hundreds of loan applications. It is the job of loan officers (also called credit risk managers) to sift through these applications to determine which are credit worthy and may be most profitable for the bank.
Loan officers need to be people with strong numerical and analytical skills; having an undergraduate degree in math’s, finance or economics would be preferable for this position.
The compliance department of a bank has the critical task of ensuring that every single department within the bank operates in compliance with internal and external regulations. Essentially, compliance officers are the bank’s internal police department.
The global financial industry is one of the highest regulated industries and failure to keep up with industry standards may result in a loss of professional reputation and consequently major accounts, and could even lead to hefty fines.
Compliance officers will need to have, at the very least, a college degree in Accounting, Economics, Finance or Management; however, many compliance officers particularly in larger banks have advanced degrees.
The treasury department of a bank is responsible for trading with the bank’s assets and carrying out any investment activities that could earn the bank a profit.
The typical day to day activities of treasurers in a bank include investing in treasury bills and other financial instruments, trading foreign exchange, monitoring financial and economic data and determining what the bank’s interest rates should be.
This is one of the most high profile jobs in banking as good treasurers may earn fat bonuses and rise up the corporate ladder very fast. The caveat to this is that if you fail to impress you may find yourself reassigned to another department or in the worst case, out of a job.
To get a job as a Treasurer in a bank you will need a minimum of an undergraduate degree in Finance, Math’s, Economics or other business related area. Post graduates are, however, preferred for this job.
Essentially these guys are the accountants of the bank and are responsible for preparing financial statements and are particularly concerned with managing costs effectively.
For a position in the financial control department of a bank you will need to have at least an undergraduate degree in accounting or management.
A career in bank could be very rewarding and lucrative but to make the most out of it, ensure that you pick a job that you will enjoy doing and are productive at. If none of the jobs outlined here appeals to you, then don’t give up on banking; there are other less banking specific jobs such as HR, Communications, Legal etc, where you could still enjoy a fruitful career in banking.