There are many different corporate banking careers, but everyone who works in corporate banking is primarily responsible for the bank’s large commercial clients. Commercial clients have similar lending and transactional needs as consumer clients, but they also require additional services such as treasury management and payroll services. Individuals with the specialized knowledge required to deal with each aspect of corporate banking are hired major banks, and corporate banking careers range from sales to underwriting.
Commercial lenders, who receive a base salary as well as a production-based commission, are among the highest-paying corporate banking jobs. Commercial lenders must act as salespeople in order to attract new customers to the bank. A commercial lender must determine the terms of a loan after agreeing to establish a lending relationship with a specific client. Experienced lenders can approve their own loans, but they must have strong credit management skills to ensure that loans are profitable for the bank and priced competitively to attract customers.
Sales representatives and risk analysts are two examples of corporate banking careers in treasury management. Sales representatives put together product packages to meet the needs of a specific business. Instead of paying per service fees, commercial clients pay a flat fee for the service package. Deposit accounts, payroll processing, and payment processing are typically included in treasury packages. Risk analysts collaborate with treasury sales representatives to ensure that new clients are financially stable enough to meet underwriting standards for credit-related products like payment processing.
Product development specialists, who create new deposit products and lending options, and operation specialists, who perform regular audits of the bank’s corporate division, are two examples of behind-the-scenes corporate banking jobs. Operation specialists are typically seasoned bankers who are well-versed in both the bank’s and the industry’s operating procedures. The operation specialist usually reports to the city president and is responsible for ensuring that bank employees do not break state or federal laws.
Employees attempting to break into corporate banking typically have a background in retail banking, which involves dealing with both consumer and small business clients. Corporate banking units frequently recruit successful lenders and move them quickly into commercial lending positions. Due to the complexities of these roles, most major banks require people in treasury management to have a degree in finance or accounting. Many banks have a city or regional president who oversees the local corporate banking division, and city presidents are typically individuals who have worked in a variety of positions at the bank.