Six basic designations in the banking industry

You’ll find various job positions or titles within the banking sector that range from customer service (bank teller) to Middle management (internal auditor, data processing officer) and more executive titles like (branch manager, operations manager, loan officer). These designations usually regulate around the world so you’re likely to find these in almost every other bank organisational structure. If you chose to work in the industry, it opens up a range of opportunities within areas/fields such as mortgage or foreign accounts, credit, cash handling, clearance so on.

More job titles include bank credit clerk, head bank teller, foreign-exchange dealer and mortgage payment processing administrator. Depends on the bank and employers decision, candidates may-be provided on-the-job training whereas others would ask for at-least college education. Let’s explore the banking industry further so that you may select from the variety of designations per likes and academic credentials.

  1. 1.     The bank teller

The first line or entry-level job in the sector is of bank teller. These tellers have to be friendly with a positive attitude towards service. They’re responsible for basic account transactions like checking the accounts, respond to customer inquiries and savings. A head teller usually supervises the subordinates in the group who manages a high-level of inquiries and issues linked to a bank account.

  1. 2.     Marketing representative

As the title suggests, bank marketing representative is one who promotes or sell banking products to customers. These “products” range from savings account, cash deposits, special deposit and checking accounts; all customer-oriented services fall under the category. The bank marketing representative also looks after strategic marketing plans for different products and executing an action plan for bank branches that falls under his supervision.

  1. 3.     Internal auditor

Auditing is the most important part of banking. Internal auditor assumes the position of mid-level management to ensure the bank appropriate follows the compliance and regulatory standards for smooth and optimistic operations. He’s responsible to plan audit programs for different departments as per their work. Sub-positions that fall under the scope of internal auditor are information systems auditor and financial auditor. Among the both, information systems auditor evaluates data security, disaster recovery strategies and information processing for the bank.

  1. 4.     Branch manager

They’re assigned to oversee all the operations within a certain branch and appointed by mid-level or executive management. A comprehensive report of all day’s work is submitted to the branch manager while he creates work schedule for personnel, create a budget report which is submitted to executive management highlighting resources and bank policies to follow at branch level. “Vice president of operations” is a title usually bestowed to the branch manager while he can serve the head office as well as supervise various divisions spread across a particular area.

  1. 5.     Loan officer

Bank loan is a source of revenue, a profit generating factor for the industry. A loan officer specialises in selling loan products to customers and process necessary documents required to obtain it. Loan officer examine credit reports and other individual or business-oriented qualifications to receive advances.

With the expansion of business industry and increase in demand for loan, officers are trained in the area of business development to understand the business processes and cater proper guidance once credit is granted. Loan officers are counselled by the Board of Directors and assist in establishing credit lines to businesses and individuals.

  1. 6.     Data processing officer

Data processing officer (DPO) looks after the maintenance, operations and security of the entire bank information system, offline terminals and to ensure no external hard drives are plugged to the system for confidential and security purposes. When daily processing cycle comes to an end, DPO ensures that general ledger account is all balanced.

Conclusion

These are the basic titles or designations you’ll find among the banking jobs. Better understand before applying for the position!

Credit : Ultimate HR Solutions

Views: 25416

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