Would like like to know more about the jobs available in commercial banking? If you are planning on earning a degree in finance or a related field, learning about all of the opportunities that will be open to you is a must. There will always be a need for commercial banks that offer individuals and businesses alike loans, deposit accounts and more. To staff these banks, there is a need for qualified professionals who each have their own roles within the institution. With so many different career paths to choose from, learning about your options and the qualifications for a specific title is key. Read on, and commercial banking job profiles.
Loan Officer Roles at Consumer or Corporate Institutions
A loan officer is responsible for reviewing a loan application and deciding who will get a loan and what the terms for that loan will be. Their primary responsibility is to assess risk, match a client to the most suitable loan product, and then educate the client on the lending process. In addition to evaluating applications, loan officers may also recommend approval when the client is deemed to be a good risk and creditworthy. While not all loan officers have a degree, most commercial banks prefer to hire loan officers who have a Bachelor’s degree, according to the Bureau of Labor Statistics. If you work in the mortgage industry, you will need a special license to recommend products.
Bank Tellers and Sales Professionals
While the two are often assumed to be the same, a bank teller and a salesperson have very different roles in commercial banks. A bank teller handles money and provides excellent customer service to clients who are making deposits, withdrawals or payments. They are the front lines of the banking world and must be professional and detail-oriented. Sales professionals in banking typically sell investment products and mutual funds. Banks attempt to compete with brokerages and investment managers by hiring top-notch sales people. You need sales experience and may need college experience to land a role as a teller or salesperson.
Programmers and Other Technical Staff
Banks have some of the most secure software systems in the world. These systems must be managed and maintained by experienced programmers. If you would like to work in the IT field and you want to work in banking, consider a technical position as a programmer. You will need to know how to code applications in Java, SQL and other language, and how to manage the platform systems that the institution uses. Because technical skill is so important, you must possess no less than a bachelor’s degree in computer science or another area of study that covers programming and software engineering.
Related Resource: Financial Jobs in Real Estate
There is a growing demand for banking and lending specialists in many areas around the world where populations are growing. If you want to use your degree to land a position with a commercial bank, you need to decide if you want to work for an investment bank, retail bank or corporate bank. After you decide on the type of institution you would like to start your career at, the next step is getting attention. Earning your degree will garner attention, but so will a well drafted resume that highlights your strengths. With a resume that thoroughly details your experience and education, you can land the jobs available in commercial banking.
