Banking careers are diverse, but the majority focus on providing excellent customer service to those in need of financial services. Tellers, personal bankers, loan officers, investment bankers, and banking managers are the most common types of banking jobs. Each of these banking careers provides a slightly different service to a customer, depending on the needs expressed the customer.
A personal or commercial teller is an entry-level banking position. Although the two are frequently interchangeable, experienced tellers are more likely to handle commercial transactions than inexperienced tellers. The teller is in charge of routine deposits and withdrawals, as well as cashier’s checks, payments, and balance checks. A high school diploma and some customer service experience are required for this type of banking job. It’s also a plus if you’ve worked with money before.
The personal banker is a step up from the teller and is frequently the first person a new banking customer interacts with. This person is in charge of opening new accounts, explaining the account’s options and features, and closing accounts. If there is a problem with the account, such as a possible accounting error, the account holder will most likely contact this person first. A bachelor’s degree in accounting, finance, or business is often required for these banking positions.
Those in need of a loan, whether or not they have other bank accounts, will frequently meet with a loan officer. This person goes over the information and completes all of the loan paperwork. Before the documentation is submitted, the loan officer usually goes over all of the options with the customer and even gives an opinion on whether the loan will be approved and at what interest rate. In some cases, the loan officer will offer advice on how to improve the terms of the loan or their chances of approval. These positions, like personal bankers, frequently necessitate a bachelor’s degree in a relevant field.
An investment banker, also known as a financial planner, is a banker who focuses on a customer’s long-term financial prospects. Those in such banking jobs frequently collaborate with clients to develop a long-term strategy for retirement or other major objectives. Customers’ needs and desires are taken into account when putting together investment portfolios. A Master’s Degree in finance or a related field is usually required to start a career in investment banking.
Banking managers are those who are in charge of overseeing operations at a single or multiple locations. These banking positions frequently require extensive experience, and those who hold them have typically worked in at least one of the previously mentioned career paths. Managers may be in charge of a single branch or multiple branches, depending on the size of the bank.