Banking Career Description
A career in banking dovetails a career in finance and accounting since the industry makes money out of money placements and movements. Working in a banking community opens up a number of career opportunities fro front-facing positions.
- Bank tellers are your traditional front-facing banking personnel directly dealing with customers for deposits, withdrawals and check encashment on routine.
- New Accounts clerk or processor deals with new clients opening accounts with the bank branch, ensuring that all required documentation are properly submitted and issuing the ATM cards and passbooks as required.
- Loan Processing Officer deals with customers applying for any of the bank’s financing products, from personal loans, car loans, mortgage loans to business loans. Depending on the amount of the loan, some customers can deal directly with the Branch Manager.
- Credit Card Processing Officer deals with credit card issuance or concerns if the bank also fronts as card issuer.
For back office work, a banking career can bring you to the usual support and administrative functions such as HR, marketing, accounting, budgeting, corporate planing, advertising, purchasing, etc.
Bank tellers are often high school diploma holders with above-average personality and speaking skills to deal with the customer. Most other jobs require college courses in finance, business administration, accounting and commerce to open up wider opportunities for career growth.
While commercial and saving banks provide the employment opportunities for a banking career, you also have credit unions and online payday loan lenders, credit card companies. Government monetary regulating agencies, Federal Reserve and central banks are another option. Bank tellers earn a median of about $11 per hour, new accounts clerks about $14 per hour and loan officers about $15 per hour in 2008.
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