How to Become a Banker?

What do Bankers do?

A Banker would typically need to:

• Work closely with a wide range of clients to determine their banking requirements.
• Discuss the financial needs of the clients and offer assistance to facilitate a variety of business activities.
• Manage client bank accounts by processing deposits, payments, and withdrawals, as well as evaluating and authorising overdrafts, loans, cashier cheques, and money orders.
• Customers should be advised to use idle liquid cash in their accounts to earn greater interest rates or to invest in insurance, stocks, bonds, and mutual funds.
• Collaborate with other banking professionals to ensure client happiness and service quality.
• Develop a network of local business contacts to serve as the organization’s face in their neighbourhood.
• Recruit, train, supervise, set sales goals for, and evaluate junior employees.
• Budgets must be managed, targets must be met, statistical and financial records must be maintained, and management reports must be completed.
• Serve existing customers in the branch, over the phone, or online; sign on new clients and assist them with the onboarding process.
• Resolve client inquiries and concerns that cannot be resolved by front-line personnel.
• Cross-sell banking services and products to existing and prospective consumers.
• Daily opening and closing of the branch while ensuring that the premises are fit for business

Standard Work Environment

Bankers spend the majority of their time in their branches, dealing with current and prospective clients and performing administrative tasks. They may travel in order to network with members of the local community and business relations.

As a Banker, you must appear as capable and professional when dealing with other people’s money. Suits in dark colours like black, charcoal, and navy blue are ideal. Banks in warmer climates may let you wear short-sleeved shirts, but they must be paired with a conservative tie.

Men should wear tie-up black or brown shoes that are polished. While open-toed shoes may be appropriate in warm regions, women in banking should wear pumps with closed toes, flats, or attractive heels that complement their suits.

Work Schedule

Bankers normally work from 9 a.m. to 5 p.m., but if you work in a branch, you may potentially work weekends, depending on its hours of operation. Bankers in management teams, including graduate trainees, may be asked to work overtime and be flexible in order to maintain service levels.

If you work in Phone or Internet Banking, you may be expected to work shift patterns in order to provide customers with 24-hour banking. Part-time, flexible working and career breaks are all options.

Employers

The majority of job possibilities in the banking business are found in major cities. Career services, online job boards, and national newspapers all post job openings. Applications should be submitted as early as practicable in the fiscal year.

There are no self-employment prospects in retail banking.

Bankers are generally employed by:

• Major High Street Banks
• Large Banking Organizations
• Online Banks
• Supermarkets

Unions / Professional Organizations

Professional groups and organisations are an invaluable resource for people seeking professional development or seeking to interact with other professionals in their industry or employment. Membership in one or more of these organisations looks great on your resume and helps to strengthen your credentials and qualifications.

Workplace Challenges

• Macroeconomic risks and cyber-attacks
• Tightening regulatory requirements and political interference
• Outdated core IT systems

Suggested Work Experience

Potential bankers should have prior job experience in a financial or customer-focused workplace. Job shadowing, vacation work, sandwich placements, internships, and temporary or permanent work experience are all examples of this.

Recommended Qualifications

A bachelor’s degree in business studies, finance, business administration, management, economics, law, or mathematics is more likely to earn a career in banking.

Certifications, Licenses and Registration

Promising bankers would benefit from certification demonstrating competency in Microsoft Office Suite, banking databases, and essential software programmes.

Projected Career Map

Opportunities for advancement are purely merit-based and driven by performance, achievement of specified goals, adaptability, and willingness to move.

If you do not participate in a graduate management plan and have experience and professional qualifications, you could pursue a career as a: Team LeaderAssistant Manager of a department or branch ManagerRegional Manager. If you are on a graduate scheme, you will normally be promoted to Management after successfully completing the scheme. You’ll begin as an entry-level customer service representative and work your way up the career ladder.

It is also possible to advance from branch management to a position in the central office, such as marketing, project management, product development, or risk management.

You could move banks to advance or into other fields including insurance, audit and compliance, investment banking, and corporate finance. Specialisation and transfers to abroad offices and larger branches can provide excellent prospects for advancement.

Retail Bankers can also work in other retail domains such as supermarket management or general management of a call centre or major shop. Candidates with occupational qualifications from further education colleges and school leavers can also pursue a career in retail banking.

Job Prospects

Expertise, experience, and a willingness to relocate will pave the way for top banking job opportunities.

Beneficial Professional Development

Graduates might begin their careers in banking as trainee managers. As a new employee, you will often go through an induction procedure to become familiar with the bank’s products and services. Customer and risk management will be covered in this training.

Management training programmes assist bankers in obtaining professional qualifications that will allow them to advance to management positions. This usually entails spending some time at the branch getting to know the people you’re in charge of. It entails becoming acquainted with related services such as credit cards, loans, and small business banking. You will also work at regional offices.

It is critical to stay current on changes in the banking and financial industries. Professional organisations will assist you in this by providing briefings, conferences, seminars, and training sessions.

Conclusion

If banks cannot be customer-centric, they will be reduced to becoming dumb commodities that operate behind the scenes, much like utilities. Banking is fundamentally about personal relationships, not just profit. It is a personalised service in which bankers collaborate with their clients.

Advice from the Wise

The life of trade is full of adventure, whereas the life of banking is full of caution.

Explore Also: How to Become a Bank Teller?