Explore the Vastness of Banking Sector

Author: Avadhut Nigudkar
by Avadhut Nigudkar
Posted: Apr 22, 2017

Banking is one of the most sought after career choices among the youth. In a developing country like India, career opportunities in the Banking Sector are on the rise. The global turmoil in the financial segment that occurred a few years ago had the least effect on the country's banking sector because of the sound banking and financial system. The Banking Sector in India is growing at a rapid rate and is among one of the fastest growing industry verticals.

The Banking Industry provides a diverse range of opportunities for experienced professionals, college graduates and entry-level workers. Though it may appear that these jobs are meant for commerce and economics students, but the fact is that majority of bank officers are from different streams of education.

Careers Opportunitiesin banking:

The Banking Sector provides an excellent opportunity to develop an understanding of the global economy. Moreover, it creates an array of career opportunities that ensure job-satisfaction and dignity. Some of the few careers in banking are enlisted below;

Bank Teller:

Bank teller is usually the entry-level position for someone starting within the industry. Generally, a bank teller at a retail bank or a credit union is considered to be the person that a customer physically visits while cashing or depositing a check, purchasing a cashier’s money orderor check, or any other cash service handled at the retail bank or the drive-up bank location. Bank tellers can also be found at banking call centers where customers may telephone a bank for any number of retail banking services.

Loan Officer:

Banks generate money by issuing loans, which means loan officers have a key role to play in a bank's success. A loan officer is the person at a bank, a credit union, or other financial institutions who help people and companies borrow money. They need to possess confidence with excellent communication skills, and must be detailed oriented.

Bank Manager:

A Bank Manager manages all activities of a bank or a particular department of the bank. A manager of a department of a large bank might have more specialized duties overseeing the business, service, as well as the profitability of the department. The bank manager is responsible for hiring, training, supervising and if necessary, firing the staff that he or she supervises.

Credit Analyst:

A credit analyst is a person who studies the financial details of a group of persons, a person, or a company, to evaluate the bank loan applicant’s credit worthiness. Credit analysts can be employed by banks, credit unions, credit card companies, financial investment firms, or credit rating agencies. Generally, most large financial institutions require a bachelor’s degree in finance, business, accounting, or a related field, but many banks will offer on-the-job training in credit analysis for talented employees without such degrees for banking careers such as this.

Insurance Representative:

Insurance Representatives are employees of the bank holding corporation rather than the bank. Nonetheless, the branches have insurance sales goals as well as employees make referrals to insurance agents who work on-site. Insurance agents sell products such as annuities, life insurance and even health insurance policies. Agents are paid in the form of commission and moreover, the commissions are not generally capped that means your earning potential is unlimited.

Office Staff:

Banking institutions employ office and support staff for all office departments, similar to any large or small firm. The office departments in a banking firm might include building and janitorial operations,human resources, payroll, administrative and secretarial support, programming and application development, support and maintenance. Each department, depending on the size of the firm, will have multiple levels of authority and responsibility for all banking careers of this sort. Bank jobs within these departments can range from entry-level and intern, to support and middle management, on up to the department’s director or chief officer.

However, you need to be acquainted with the skill to exist in the banking sector. There are diverse agencies that can help you regarding this. Choose one of those to make your dream to join in a banking sector a reality.

About the Author

Avadhut Nigudkar is 12 years experience as finance training programmer, he loves to write on banking and finance courses

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Author: Avadhut Nigudkar

Avadhut Nigudkar

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