The importance of banks and their role in our everyday lives is no mystery. We understand and acknowledge that we cannot function normally without a proper and functional bank.
Banks act as the keepers and providers of all our monetary requirements and transactions. All banks have thousands and hundreds of branches across the country that function as satellite offices, and at the helm of each such branch is a Bank manager.
Bank managers are like the administrators in the bank hierarchy. Their work is to supervise branch workers including tellers and loan officers, evaluate loan applications and oversee the flow of cash and financial instruments.
A branch manager reports to the company’s home office on the activities of the branch and may serve as the company’s representative in the local business community. These professionals often work in comfortable office settings and maintain a full-time schedule.
What is the role of a Bank Managers?
Bank Managers are the invisible nucleus of banks. Every decision of a bank branch is referred to the bank branch manager before its application comes into practice.
Bank managers also make 50% of the customer care department as they have to deal with incoming customers of the bank.
Additionally, they oversee the working of all staff members and also supervise them in case of problems in the machinery of the bank.
Hence, being a bank manager not just about the academic qualification but also about life-skills like mediating and communicating that are involved in the position of a bank manager.
Being a managerial role, bank managers oversee the running of one or more branches and be responsible for meeting tough sales targets and keeping staff fully trained and motivated.
Duties of a Bank Manager
- Promoting and marketing the branch and its products.
- Meeting with customers and resolving any problems or complaints.
- Ensuring there’s a high level of customer service.
- Monitoring sales targets.
- Reporting to head office.
Working hours depend on the organisation that individual works for but branches are functional usually between 9.30 AM to 5 PM, Monday to Friday and the morning half of Saturday.
Bank managers are required to spend some time away visiting other branches as well as attending conferences and training days. Hence, whether you want to move up the financial career ladder or you are looking to try something different in the sector, this job is a great stepping stone.
You could become an area or regional manager; or with all your financial know-how and polished sales skills you could also move into other sectors, such as
- Financial Advisory
How to become a Bank Manager?
Bank managers usually need at least 2 years of experience, and preferably 5. One can start in college with internships or part-time jobs to gain experience.
Many future managers begin working as loan officers or in accounting before moving up to assistant manager, then manager.
The academic qualifications required to be a bank branch manager are a bachelor’s degree in accounting, business administration, or finance.
You may also need at least five years of experience in financial services including previous experience as a loan officer, financial analyst, or assistant branch manager.
For a student starting out early, Commerce is the stream that you need to focus on if the position of the bank manager is what you’re aiming for. After intermediate, courses like B.BA aid and contribute in the line of your direction.
You will then the take Institute of Banking Personnel Selection (IBPS) examination or the commonly known Bank PO exams. Selected applicants will then be trained under a PG diploma course for 12 months. This train involves two stages:
- 9 months of classroom training
- 3 months internship
Working your way up the ladder, in three to five years time you could find yourself on a comfortable chair of the branch manager in a respective bank.
A day in the life of a Bank Manager
Hi there, I’m the general manager of a nationalized bank branch in the northeast of India. Everything in this bank branch is under my supervision and direct control.
Of course, I’m assisted by my colleagues in the job but the responsibility of sales, customer care, staff management, etc. rely on my shoulders. Here’s a day in my life.
9:00 AM: I just got to work. Today’s a Saturday, so a long queue has already formed out by the counters. One of my assistant managers hasn’t arrived yet – I send for him to be contacted immediately since we’ll have to find a replacement soon or the queue will become restless. I also instruct my PA to remind me to have a word with him later.
10:00 AM: I’m now catering to a number of applications for accounts, services, and any number of requests our customers routinely make.
Normally, these are checked by the assistant manager but it seems that he is under the weather today. I’m chipping in. The wheels of the bank need to keep rolling! I’ll have to do the scanning of these documents all by myself.
12:00 PM: After a cup of tea, I’m now done with the initial chunk of applications and now seeing a certain customer who wants to open two different accounts. One fixed deposit account; one joint account.
Sometimes, people who come to our bank from economically underprivileged and socially underrepresented walks of life need additional support and aid with their banking ventures. We’re always happy to help!
Although it is a regular arrangement at all banks as a part of my duty, I need to brief them up about our functional properties.
2:00 PM: Lunch!
3:00 PM: I’m holding a brief meeting now with my staff to communicate the new policies that the central branch has come up with.
This is a mediator exercise done sporadically to ensure that the staff is aware of latest regulations and that the line of command is transparent.
4:00 PM: The bank closes at four for public transactions, but don’t think that that’s when branch managers get to go home! The reason we close an hour early is that daily balances and accounts need to be settled before we bankers can retire.
There are still few people in the cash deposit line, but I assume that shall dissipate in the next ten minutes. It might be another hour or more before I get to go home, but I’m in no hurry. Tomorrow is a holiday!
Do you also want to become a Bank Manager? We hope this article has added something valuable to your research about this profession. Have your say in the comment box below. Enjoy Reading!