Banking Careers
How to Start a Banking Career
Banking careers include a number of different roles that administer, advise, and support the banking and financial services industry. Since every business enterprise, whether public, private, for-profit, or nonprofit, require financing and financial management in order to operate successfully, banking careers play a vital role in businesses of all kinds.
In a banking career, you may provide customers with small business loans, mortgages, institutional loans, financial market analysis, inter-bank lending, and a large range of other financial services and products. Commercial banks offer these services:
- Keeping customers' money and other valuables secure
- Lending money and offering credit
- Providing payment services such as checking accounts, money orders, and cashier's checks
Although banks have recently begun to sell insurance policies and offer a range of investment services, interest on loans is still the main source of revenue for most banks.
Bank teller, bank clerk, loan officer, and customer service representative are all examples of banking careers. These banking career professionals manage the income-generating operations of banks:
Accountant or Auditor
Bank accountants and auditors ensure the accuracy of financial statements and public records, advise bank management of financial decisions, including tax consequences, and audit the financial operations of their institutions.
Financial Analyst
Financial analysts researches investments (e.g., initial stock offerings) and projects their future values, and makes investment recommendations to the bank.
Financial Manager
A Financial Manager runs either a banking branch office or a specific banking function such as trusts, mortgages, or investments.
Financial Services Sales Agent
A Financial Services Sales Agent sells banking and other financial services to individual or institutional banking customers.
Loan Officer
Loan officers help businesses and individuals identify the right type of loan for their financial needs and to complete the loan application process.
Personal Financial Advisor
A Personal Financial Advisor analyzes the financial planning needs of individual clients and recommends investment options.
Get matched to a business program that works for you
Source: Occupational Outlook Handbook, 2006-2007 Edition; Bureau of Labor Statistics, U.S. Department of Labor.