Banking / Building Society Managers
Job purpose
Bank or Building Society Managers have responsibility for the profitable and efficient operation of their branch. This includes strategic planning, recruiting, training and motivating staff, business development, customer relationship management, accounts monitoring, loans and other banking services.
Managers work in either branch and retail management (sometimes called commercial banking), or in some form of specialist banking service providing support to branches
Other managers are based at regional or head offices dealing with trusts and investments, marketing, training or human resource management. At senior level, specialist managers assist in the formulation of policy and undertake economic research work.
Activities
Managers working in a branch must run the business profitably and within targets set by head office. They network and build relationships with the business community, find out the banking needs of personal and business customers and promote products and services. This could include, giving advice on pension funds, investments, insurance, mortgages, loans and tax to individual customers.
Managers look at customers' requests for loans and overdrafts, and decide on the terms and conditions to attach to any loan facilities, for example, when they must be paid back and the rate of interest
Managers are also responsible for the day-to-day running of the branch, including staff recruitment, supervision and training, monitoring performance and managing work practices. Managers in specialist banking services work in a number of different areas - corporate banking, IT, providing financial services and working with financial information.
Key skills
Business acumen, communication and interpersonal skill - you will need a high standard of English to be able to communicate and negotiate with people at all levels, take an interest in the development of their skills, as well as be able to motivate and encourage them.
Organisational skills - the ability to set objectives, meet deadlines and budgets, and plan ahead, and the creativity to resolve problems
Leadership and teamwork - able to influence people and provide direction
If you enter banking with A-levels or equivalent qualifications and are seen as a potential manager, you will receive in-service training. You could be considered for accelerated training programmes in branch banking.
Graduates are usually recruited onto a management training scheme and follow an accelerated training programme
Training
Graduates are recruited from a wide range of subject areas. However, courses that include options in banking or financial services, accountancy, law, computing or economics may be particularly useful. Previous work experience in a business situation could be an advantage
As a graduate, you would usually study for an advanced diploma from the Institute of Financial Services (IFS) or BSc (Hons) in Financial Services and Associateship. This is jointly awarded by the University of Manchester and the Chartered Institute of Bankers (CIB
These degrees and advanced diplomas can be specialised according to one of the three following streams: Risk and Insurance Management, Retailing Financial Services or Corporate Banking. A generalist route is available, but without an advanced diploma option
The Applied Diploma in Retailing Financial Services (Applied DFSM - Retail) from the Institute of Financial Services is for graduate trainees and first line managers, and enables you to get credits towards the BSc/Associateship
Graduate trainees will gain on-the-job experience while studying for these professional exams. This often involves working in different departments in different branches in a region or across the country
Full- and part-time foundation degrees are available in business, finance and management.
Most direct entrants to management training schemes are graduates. For entry to a degree course in any subject, the usual minimum requirement is:
2/3 A-levels
2/3 GCSEs C Grade or above
A relevant GCSE in a vocational subject such as Applied Business or Applied ICT, may be acceptable as an alternative to academic GCSEs.
Entry requirements can vary considerably between courses. Equivalent qualifications such as Edexcel (BTEC) National Diplomas or Vocational A-levels are usually accepted as alternatives to A levels. Check prospectuses
ult Opportunities
If you don't have the qualifications needed to enter your chosen degree or HND COURSE a college or university Access to Business could be the way in. No formal qualifications are usually required, but you should check individual course details. You need to be 19 or over
While any degree subject can be acceptable for entry to a trainee management scheme, graduates in economics, banking, financial services, computing, accounting or business-related subjects have an advantage for certain posts, and may be exempt from professional examinations.
Sponsorships for higher education study may be available from some banks, including scholarships involving work experience placements. The Institute of Financial Services offers professional qualifications of the Chartered Institute of Bankers by distance learning
A number of centres offer degree and postgraduate qualifications by distance learning.
Age
There is no formal upper age limit for entry into this occupation. While high street banks / societies still promote individuals from their branch staff, an increasing number of successful entrants have studied at higher education level. Relevant useful experience includes customer service and supervisory management.
Information Sources
Career Profile taken from Adult Directions, produced by CASCAiD Ltd”.
Financial Services Skills Council
Foundation Degree
