Career in Banking

International trade and industrial liberalization has contributed a lot to the changes in the banking environment. Banks have changed their role considerably from being just caretakers of individuals' money to becoming providers of a wide range of services. There is a tremendous competition in the banking sector to come up with innovative and customer friendly schemes. All this has created an increase in opportunities in banking jobs and a requirement for people with marketing and technological skills apart from financial background.

Today a career in banking is the most sought-after one. With the advent of private and foreign banks, the fascination with banking services has only increased further.

This sector is truly based on meritocracy where success is based on commitment and talent. Bank jobs come with responsibility, as the banker handles other people's money. The person must be service-oriented and like to look after customers.

Skills

A good banker is a person who has a well-organized mind with an eye for detail. It helps in maintenance of records accurately and neatly. The person should have a mathematical aptitude. Employees joining as officers should be able to lead, motivate and manage the bank staff. Good verbal and written communication skills help in effective interaction with the clients as well as the staff. Integrity and honesty play a major role in all dealings related to money, staff and clients.

Career Options

As the industry is growing there is no dearth of opportunities. Also the jobs are becoming comfortable, as the physical environment is pleasing and computerization has taken the load off tedious jobs.

Recruitment in banks is on the basis of a written test, including a test of reasoning, quantitative aptitude, general awareness, English language and a descriptive test. Candidates get recruited at 2 levels in the banks - clerical level and officer level . The procedure of selection varies with nationalized and international banks.

At the clerical level, your first job would probably be processing cheques so that they could meet the strict deadlines for overnight delivery to the bank's Head Office. You could also be involved in answering customers' queries and after suitable training, become one of the bank's front line ambassadors as a cashier. If you show aptitude and initiative, you could become a supervisor, carrying responsibility for your own team of staff.

Graduates can expect to be placed on a fast track learning course, spending about two years moving through different jobs within the bank to get to know how the bank works before moving into a management position. The graduate route is the way a bank grooms people for senior management positions.

As a bank manager, a person is responsible for profit, people and resource management and strategic planning to generate more profits. Managers provide constant support and motivation to the staff so that they give the best possible service to their customers. They also interact and communicate with CEOs of corporates who are interested in getting their operations funded and then following up on the big customers who avail loans from the bank.

Management structure in banking varies considerably. Large branches may have a management team that would include individual managers responsible for lending, administration, audit and operations. At the other end of the scale, one manager could be responsible for several small branches.

Remuneration

Salaries depend on responsibility and location. Most banks operate an annual appraisal system and salary increases are awarded according to your performance during the year. Profit sharing, subsidized mortgage and non-contributory pension schemes, bonus packages often form part of the remuneration package.