Banking Profession

Banking as a profession has been there since the man started trading among cities and countries around the world. it has changed its shape and form, the Banking industry as we know it today is a result of innovations that took place in the 16th, 17th and 19th century, and banking industry has become one of the most dominating driving force of the systems arounds us.

Todays modern Banking industry can be divided into several different sectors or catagories, and within these sectors there are professions that a business graduate can apply for:

Some of the most popular sectors in Banking industry:

  • Commercial Banking
  • Cooperative Banking
  • Depository Banking
  • Investment Banking
  • Private Banking
  • Retail Banking

Professions with in the Banking Industry can be divided into two areas of Banking industry:

Bank Branch Roles

Head office Positions

  •   TELLER OR CASHIER: Process cash and deposit slips, deals with   the customers and perform data maintain financial records and documents.
  •   SALES ASSOCIATE: Customer facing, identify customer needs and match the banking products with them.
  •   ASSISTANT MANAGER: Supervise and monitor branch staff and responsible for business development.
  •   FINANCIAL ADVISOR: Help customers invest their funds in mutual funds, stocks, bonds and other investments to maximize their return on investment.
  •   BRANCH MANAGER: Incharge of the Bank Branch and is responsible for all the branch   activities

 

  •   FINANCE DIVISION: Recording, preparing and reporting financial statements which involves preparing profit and loss account, balance sheets and etc.
  •   AUDITING OR COMPLIANCE DEPARTMENT: Ensure that the bank is adherent to the rules and regulations presented by the regulatory bodies and maintain   corporate financial records as well
  •   CREDIT DEPARTMENT: Secure and collect information regarding   borrowers, assess the reliability, business habits, and financial strength of   the borrowers
  •   ANALYSIS OR STATISTICAL DEPARTMENT: Examine the accounts of depositors to determine which ones are profitable and which ones are losing accounts
  •   FOREX AND TREASURY DEPARTMENT: Raising capital for the organization by   investing in stocks and bonds, foreign currencies and other investment   instruments

 

 

A degree in business studies would suffice to enter in the banking industry, but for more complex and technical roles, for instance financial advisor, assistant manager, and roles in the head office, it becomes necessary to have a degree in business administration, accounting and finance, banking and finance, economics or investment banking.