Banking Careers

In recent years, the banking industry has been turbulent. Mergers and acquisitions constantly change the professional landscape as deregulation and diversified services change how bankers do business. So where does this leave the banking professional?

The U.S. Department of Labor reports that some banking occupations (such as office and administrative support) will decline this decade, but also note that this decline will be offset by growth in professional, managerial and sales occupations within the banking industry. The banking industry employed more than 2 million wage and salary workers in 2000, and will continue to support about the same number through 2010. Where are the opportunities going to be? According to the DOL website, the following banking specialties are poised for growth:

Customer Representative Services
These professionals must know about a wide variety of bank services in order to help customers with questions, paperwork and opening and closing accounts. Customer Service Representatives are often responsible for selling additional services to clients as well.

Financial Managers
These professionals oversee the management of bank branches and departments, as well as deal with customer service issues. A financial manager might resolve customer problems, develop service plans and work with general operations of their branch.

Sales Agents
These professionals may be sales agents for securities, commodities, financial services and other complex banking services. Sales agents of this type make up the majority of sales positions in banks. At smaller banks, other employees such as branch managers would be responsible for these types of sales.

Loan Officers
These professionals manage the complete loan application process. A loan officer will evaluate applications, review potential clients and recommend whether or not to proceed with a loan. Many loan officers specialize in certain types of loans such as commercial, consumer or mortgages. Responsibilities may also include developing relationships with potential clients and bringing new business to a bank.