Getting into Banking: Management Side

The previous article talks about Banking job roles in a non-management scenario. This article takes a look at all the management job roles that banking offers.

The Middle Management starting from Manager is the lowest managerial post. All of the job roles, including that of a manager, require a Management Degree along with relevant work experience.

Management job roles are non-technical but focus more on administration and the functioning of all branches, offices and Head Office along with all the employees at all the levels. Clerks, POs and SOs work for the customers while the Management works for the employees.

Middle Management

Manager

Managers commonly assume a supervisory role over a specific team in their department to achieve company goals. They typically have one to four years of experience managing teams and report to senior managers, directors, vice presidents or owners of the company, depending upon the bank’s hierarchy.

Students usually hired from management colleges start at this level.

Their main duties comprise of-

  • Oversee a small group of employees
  • Hire and train new staff
  • Support and coach existing employees
  • Monitor performance and conduct evaluations
  • Set individual and team goals
  • Review expenses and budgets
  • Collaborate with multiple departments
  • Conduct department meetings
  • Plan upcoming goals and initiatives

The above responsibilities help managers understand the various aspects of employees, makes them a better leader and prepares them for a Senior Management level.

BFSI Sector Composition

Senior Manager

The title of senior manager is most often used and encountered in large organizations with multiple layers of management. A senior manager has responsibilities and authority that are broader in scope than a front-line manager.

The senior manager level or designation represents a step up from the manager and offers the opportunity for individuals to take on new responsibilities and increase their contributions. Implementing this added and higher level also helps organizations recruit experienced professionals and slot them into roles that fit their capabilities and compensation.

Like all managers, the senior manager is responsible for planning and directing the work of a group of individuals. They monitor their work and takes corrective actions when necessary. Senior managers might guide workers directly or they might direct several supervisors, who in turn directly manage the workers. The senior manager often supervises the largest or most important group or groups in a company.

Managers in a senior-level position may possess many of the same responsibilities as a manager, though on a more strategic level-

  • Guide supervisors
  • Approve hiring and firing requests
  • Create organizational objectives
  • Make critical decisions
  • Manage department budgets
  • Oversee employee performance
  • Possess strong technical computer skills

Regardless of the term “senior” in this position’s title, a senior manager is still in middle-level management. These important middle-level roles are responsible for their people doing the work of the business.

From Middle Management the ladder goes to Senior Management which includes-

  • Chief Manager
  • Assistant General Manager

and onto Top Management which comprises of-

  • Deputy General Manager
  • General Manager
  • Chief Financial Officer
  • Chief Executive Officer
  • President

But now, apart from the above-mentioned job roles, there are certain other jobs that either don’t fir into the 4 boxes discussed above or fall between two or more cadres.

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Loan Officers

Loan Officers evaluate and authorize approval of business, real estate, or credit loans. They are specialists at evaluating the financial status of a loan applicant. They work for commercial banks, mortgage companies or credit unions. She/he acts as a contact point and facilitator between the institution and the client.

Their primary duties include-

  • Market lending services to attract new clients
  • Ensure that client’s financial paperwork is accurate and complete
  • Clearly explain all aspects of the loan process in easy to understand terms
  • Properly record and track credit and loan information

To become a loan officer, the candidate must have a graduation degree in Finance, Business or similar field.

Company Secretary

Growth Drivers of the Banking Sector

Company secretary deals with the legal activities of any business. The role of a company secretary is to keep the records, advice, tax returns and evaluate the legal aspects of the organization. Company secretary is a traditional positioned as the support of the board of directors and administrative staff. 

One must have completed the CS certification provided by ICSE. It is a 3-year professional course usually counted as a UG Course.

Credit Analyst

Credit analysts examine the credit history of customers to determine if they should be eligible to receive additional credit or a loan. Often the findings and conclusions of the credit analyst are sent to a manager for a final determination. These analysts use their knowledge of math and business as they read over credit records, looking for trends and potential risk factors. Many types of companies employ credit analysts, including credit unions and banks. 

Their main duties are-

  • Give advice on improving credit scores
  • Report on possible warning signs of credit risk
  • Determine appropriate interest rates
  • Keep clients’ records up-to-date

To become a Credit Analyst, one must have a bachelor’s in Accounting, Business or Maths.

Foreign Exchange Officer

A Foreign Exchange Officer, or Forex Dealer invests a corporation’s funds on currencies markets with a profit motive or as part of a risk management (hedging) strategy. 

Their main job responsibilities are-

  • Training of Bank Personnel in the areas of Foreign Exchange Business.
  • Accreditation of Forex Brokers
  • Advising/Assisting member banks in settling issues/matters in their dealings.
  • Represent member banks on Government/Reserve Bank of India/Other Bodies.
  • Announcement of daily and periodical rates to member banks.

Most firms, especially financial institutions such as banks, insurance companies and hedge funds, require a four-year college degree for a junior Forex trader position. A senior Forex dealer usually has a master’s degree in a finance-related field.

RBI Grade B Officer

The Grade B Officers in the RBI work as foot-soldiers working out through the day to day activities in the bank maintaining the cash inflow and maintenance of order in the bank. They also are responsible for the overlook of swift functioning of the member banks of under the RBI in the country.

Their job role includes

  • The RBI Grade B Officers need to work towards keeping the inflation under check and ensure that an adequate supply of liquidity of the productive sector is taken care off.
  • RBI issues the coins and currency and the RBI Grade B Officers are responsible for its circulation to the various nationalized banks under the ambit of RBI.
  • They are also entitled to manage the state and central government accounts by performing various merchant banking functions for them.
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To enter this field, one must clear the RBI Grade B Examination conducted by the Reserve Bank of India.

NABARD Grade A/B Officer

NABARD conducts exams for entry into the organization at a managerial level. Grade A and Grade B are two such exams and entry level jobs at NABARD. Grade A is similar to the Post of Assistant Manager while Grade B is Manager.

Both roles have examinations that need to be cleared to be considered for the job.

Indian BFSI Market Size

For Grade A-

  • Since there is no specified work profile of an Assistant Manager, he has to do a lot of multitasking.
  • Any work assigned by Chief General Manager of RO is to be carried out by him.
  • An Assistant Manager has to work on various policies and programmes mandated by Central/State Governments related to Agriculture and Rural Development.

For Grade B-

A manager is entrusted with the responsibilities to maintain customer relationships, monitor the accounting procedures, approve loans, enable smooth functioning of the office, coordination with various departments and facilitation of inter-departmental assignments.

Investment Banker

A manager is entrusted with the responsibilities to maintain customer relationships, monitor the accounting procedures, approve loans, enable smooth functioning of the office, coordination with various departments and facilitation of inter-departmental assignments.

Once they are employed, investment bankers must register as a representative of their bank with the Financial Industry Regulatory Authority (FINRA). Depending on their job responsibilities, investment bankers must pass an examination on a specific “series” in order to qualify for registration.

Investment bankers can also pursue voluntary certifications like the Chartered Financial Analyst (CFA) credential offered by the CFA Institute. To become a CFA “charter holder,” one must have four years of investment work experience and complete the CFA program, which is a three-part course of study that covers investment valuation, company analysis, and portfolio management. CFA candidates must pass an examination at the end of each of the three levels of the program. The CFA program takes two to five years to complete.

One can become an investment banking analyst directly after earning a bachelor’s degree, but it can take two or more years of working experience plus a graduate degree to advance to associate status at an investment bank.

It is obviously impossible to list down all the jobs in a banking sector but these are some of the entry-level jobs that students can take up after completing their graduation or post-graduation. So, if Banking is the sector that holds your interest, then these jobs might be the stepping stone for your future.

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