Banking is one of the traditional sector offering stable jobs and in this post we will be discussion about various jobs and roles in banks and banking industry. The jobs in Banking industry unlike the other segments of BFSI – like financial services are relatively stable but low paying. While financial services and investment banking offer high paying jobs – these jobs are rarely stable and involve lot of work pressure. Comparitively the banking jobs are considered as long term career and more stable.
Here are some of the positions or roles available in the banks. Whether you are keen on making a career in banking or not – knowing this will be useful as we all interact with banks some or other time.
Bank Tellers: The Bank Tellers do all the monetary transactions at the front office. They are the one we see behind the cash counters when we line up to withdraw or deposit cash. Be it depositing the money or withdrawing the money – you deal with the Bank Tellers at the counter. The job of the Bank Teller is to focus on the minute details as in verifying the name, date and identity of the customers who are at the receiving end.
Book Keeping And Auditing Clerks: The job of the Auditing Clerk is to record and classify financial data. They normally work in the back office and do not interact with customers. They keep on calculating and keeping track of the financial records.
Financial Service Representative: The Jobs in Bank Industry of the Financial Service Representative is to promote different products and services offered by the banks. They are also responsible for opening and closing accounts and keeping a record of all the financial transactions. The Financial Representative sometimes cross sell other related products like insurance or a trading account.
Bank Branch Managers: The Bank Branch Manager’s job is to oversee the complete operation of a Bank Branch. They are responsible for end to end activities of the branch and are normally accountable for the profit / loss from the branch.
Financial Managers: Financial Managers formulate financial policies and also help in its implementation. They make business forecasts. Their main job is to manage the different branches of the bank. Financial Manager formulate strategies so as to minimize losses in the insurance sector of banks. The financial Manager prepares financial reports that reflect the financial health of the bank. along with this the Financial managers also monitor the flow of cash. The financial managers sometimes work as controller, treasurer, credit managers, treasurer, cash mangers, and insurance or risk managers.
Loan Officers or Credit Managers: The Loan Officer checks the eligibility of all the individuals seeking loans from the Bank. He checks their credit worthiness, i.e. their probability of loan repayment. After making a thorough evaluation of the loan application from the clients, Loan Officer does the loan officer recommends or approves them. Loans may be commercial real estate or credit loans.
Bill and Account Collectors: The Jobs in Bank Industry of the Bill and Account Collector is to collect the money overdue from the debtors.
In many countries like India a job in Bank is considered very esteemed and many aspirants apply for jobs with banks. Some of the reasons of Banking jobs being popular are – they never go out of demand, layoffs are usually low, and banks offer credit to employees at better rates.
