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What are the different jobs you can have at a bank?
Hi, I'm a high school student and I've been trying to think of what I want to be when I am older. I think I want to do something relating to finance and money but I'm not sure. I would like to know more about banking specifically. Thanks!
#banking #finance #student
25 answers
Updated
Rebecca’s Answer
There are many different kinds of banks e.g. Commercial Bank, Retail Bank, Investment Bank, Private Bank, etc. . And, a bank is also like other companies that it has many different departments , e.g. Human Resources, Admin, Finance, Sales, Product, etc.
For very big banks like JP Morgan, HSBC, etc. , they may have multiple business, i.e. they do business for different client segments like for individuals (Retail / Private Bank), corporate (Commercial Bank), etc.
I am glad to hear that you would like to work in a bank. I would suggest you take the relevant courses in the college first, e.g. Accounting, Finance or Business, etc. in the college. You can seek intern opportunities in the banks to explore more how it works. On the other hand, many banks offer Graduate programs. They would hire the fresh graduates from the colleges and offer training. The graduates would have opportunities to work in different business sections . The bank & the graduate can then decide which business suits them best before settle down in one their business lines.
Hope this helps! Good Luck!
For very big banks like JP Morgan, HSBC, etc. , they may have multiple business, i.e. they do business for different client segments like for individuals (Retail / Private Bank), corporate (Commercial Bank), etc.
I am glad to hear that you would like to work in a bank. I would suggest you take the relevant courses in the college first, e.g. Accounting, Finance or Business, etc. in the college. You can seek intern opportunities in the banks to explore more how it works. On the other hand, many banks offer Graduate programs. They would hire the fresh graduates from the colleges and offer training. The graduates would have opportunities to work in different business sections . The bank & the graduate can then decide which business suits them best before settle down in one their business lines.
Hope this helps! Good Luck!
Thank you for your response. I will do more research and I now know that I have some intern options for when I am in college.
Ivana
Updated
Nicole’s Answer
There are so many jobs! I work at a bank. I'm a lawyer by training. I work in Asset Management. Our business is to advise clients on their investments and in particular, investments in hedge funds. My team does due diligence on those hedge funds and negotiates those investments. We also work with hedge fund managers to set up customized structures. I sit on an investment team and while i'm using my legal degree, i'm not actually hired as a lawyer.
My advice is to follow a career path that you find interesting and then see how it fits into a bank, rather than the other way around.
My advice is to follow a career path that you find interesting and then see how it fits into a bank, rather than the other way around.
Great advice, thanks.
Ivana
Updated
Hajro’s Answer
Hi Ivana,
First off it is great that you are thinking about your career already in high school! Perhaps one of the best things that you can do is get an internship at a bank to figure out what retail banking is. I feel like when I was in high school, when I thought about a bank, I thought about my local bank where I can walk in and deposit or take money out. Everyone else here seems to have given you a detailed description of what a bank so I won't repeat that.
What I used to do is walk into a bank and ask a local branch manager to teach me about what is going on at the bank. Just say that you are student that would like to learn more about the banking business.
First off it is great that you are thinking about your career already in high school! Perhaps one of the best things that you can do is get an internship at a bank to figure out what retail banking is. I feel like when I was in high school, when I thought about a bank, I thought about my local bank where I can walk in and deposit or take money out. Everyone else here seems to have given you a detailed description of what a bank so I won't repeat that.
What I used to do is walk into a bank and ask a local branch manager to teach me about what is going on at the bank. Just say that you are student that would like to learn more about the banking business.
Thank you that is a great idea.
Ivana
Updated
Guadalupe’s Answer
Hi Ivana,
First of all that is a good news that you are interested in financial sector!
As many people said, there a lot of areas in which you can work in a Bank. i.e. Audit, Legal, Operations, Risk Management, Equities, etc. etc. however it is very important to define what are you interested in or what are you good at.
Give yourself a few minutes to think what you like most, don´t think in an industry now, as I mentioned before there are many activities in a bank and most of that people could work in a different sector.
Good luck with your decision.
Best Regards,
First of all that is a good news that you are interested in financial sector!
As many people said, there a lot of areas in which you can work in a Bank. i.e. Audit, Legal, Operations, Risk Management, Equities, etc. etc. however it is very important to define what are you interested in or what are you good at.
Give yourself a few minutes to think what you like most, don´t think in an industry now, as I mentioned before there are many activities in a bank and most of that people could work in a different sector.
Good luck with your decision.
Best Regards,
Thank you so much for the response.
Ivana
Updated
Marc’s Answer
Hi Ivana,
This is a great question. I have worked in marketing and advertising in banking for 20 years help banks attract new customers and grow the relationships with their existing customers. It's creative, fast paced and fun.
Also, my experience with many big banks is that they give folks lots of opportunities for growth and career advancement if you work hard and are loyal. You might start out in a branch, but can then move to a corporate role or an operations role.
Good luck with your career decisions!
Marc
This is a great question. I have worked in marketing and advertising in banking for 20 years help banks attract new customers and grow the relationships with their existing customers. It's creative, fast paced and fun.
Also, my experience with many big banks is that they give folks lots of opportunities for growth and career advancement if you work hard and are loyal. You might start out in a branch, but can then move to a corporate role or an operations role.
Good luck with your career decisions!
Marc
Thank you.
Ivana
Updated
Gene’s Answer
The banking and financial services industry is great because there are so many different things you can do. People with many different skill-sets can thrive in this industry because of this. You can work in accounting, marketing, sales, compliance, risk, legal and product management for a host of different products such as checking, savings, credit cards, advisory services, mutual funds, retirement plans, etc.
This was super helpful, thank you!
Ivana
Updated
Craig’s Answer
This is a great question, as to normal people they believe that there are only a few jobs that are available at banks, whether that be bank teller or manager etc. For example, I work for UBS which is a very large bank, that has many many different teams and jobs available. There is equity administration, risk, IT, forms, settlement, analysts, to name a few of the jobs and teams. There are so many different avenues in life, and in banking, If I were in your shoes I would first try to find some positions in which I can shadow others with different occupations, find out what you would really like to do in life. Then with that information and experience, you can figure out where you can get that role/occupation. There are analysts in every job sector, their is IT in every job sector, etc etc. First find out exactly what it is that you would like to do for a living then find the sector that you can do that in. Hope this helps!
Updated
Samantha’s Answer
I work in with application fraud and existing consumer and business fraud. It is on of the most.rewarding jobs i have had in banking. Although there are so many great jobs in banking, this by far is the best way to protect customers and use all of your skills.
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Patrick’s Answer
A lot of this depends on what type of bank you work for. There are banks that only offer banking services, and other banks that can offer you investment and advisory solutions as well. A lot of the jobs will deal with money (obviously) but there are other areas that make the money-facing jobs function. There are compliance officers who make sure that no rules or laws are broken, there are sales people trying to get clients/customers to buy financial products, and there are service people who try assisting clients and employees alike in whatever they might need.
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Rosa’s Answer
Good question, I will share that working for a bank is like working for a small city. All skill sets are needed, for example, global banks tend to offer well built technology suites just like a Hollywood studio offers, providing capabilities for recording podcasts, live events and video recordings to help their leadership teams broadcast their messages or events. Another cool area that banks focus on is cyber security and helping everyone both employees of the bank and clients of the bank stay cyber safe while keeping their information secure from hackers.
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Guadalupe’s Answer
Hi Ivana, I loved finance industry! I´ve been working here for almost 20 years. There are many types of banks and many activities/professions that are necessary there. I suggest to you to give yourself a minutes to think what you like most(in a general terms) if you prefer certain type of activities that you would like to do or skills that you are good at. i.e. if you like mathematics or administrative tasks or accounting or all related to laws.
Try to identify if you like to interact with people, or you prefer to work by your own, or to execute budget, etc.
Once you have identified your interest it would be easier to match your preferences in the banking sector.
Good luck!
Try to identify if you like to interact with people, or you prefer to work by your own, or to execute budget, etc.
Once you have identified your interest it would be easier to match your preferences in the banking sector.
Good luck!
Thank you so much for the advice.
Ivana
Updated
Evan’s Answer
Thank you for asking! I personally work in investment banking. It can be difficult finding a career path within the banking industry that peaks your interest. I can tell you that related to being a financial advisor, a necessary step to begin the process would be to pass your securities licenses. The current requirements, are passing the Securities Industrials Essentials exam, Series 7, and Series 66 exams. This is honestly the most difficult portion of getting started in the industry. Otherwise once you have the exams, you can find your niche whether it be within a sales role, service capacity, etc. There are several options out there.
Updated
Maria’s Answer
Hello, happy to hear that you are interested in banking and finance and wish best of luck.
There are many different types of career path within banking and finance. Banks have different business units and business models, such as retail-commercial banking serving customers with banking needs ( bank-accounts, loans, mortgage loans, etc. ) . Banks have institutional clients ( businesses, companies ) that also need banking and lending services.
You need to determine if you are a people person or prefer operational and or analytical jobs.
Finance offers many career paths. Financial Advisors have direct contact with clients and give financial advise during the financial life of the client. There are also operational and or analytical jobs within finance.
Most likely you will need a BA in Economics, MBA, and Financial services licenses to move up in your career path.
There are many different types of career path within banking and finance. Banks have different business units and business models, such as retail-commercial banking serving customers with banking needs ( bank-accounts, loans, mortgage loans, etc. ) . Banks have institutional clients ( businesses, companies ) that also need banking and lending services.
You need to determine if you are a people person or prefer operational and or analytical jobs.
Finance offers many career paths. Financial Advisors have direct contact with clients and give financial advise during the financial life of the client. There are also operational and or analytical jobs within finance.
Most likely you will need a BA in Economics, MBA, and Financial services licenses to move up in your career path.
Updated
Ashley’s Answer
Banking is a great industry! There are so many job opportunities and it can be really satisfying to help people manage their money and achieve their dreams!
A few things to think about:
First, are you a people-person, or do you prefer to work behind-the-scenes?
Second, do you want to work in a branch, at a hub or at headquarters?
If you are a people person, you can be a service banker/teller, a loan officer, or a customer service representative in a branch (or in a hub with a virtual bank). There are also client-facing options within business banking, including Business Banker/Relationship Banker who advises businesses and sells banking products (like loans, credit cards and checking accounts) to business owners. You can grow and develop across these roles to become a team manager or branch manager.
If you prefer to work behind the scenes, you can be an underwriter (evaluating/analyzing loan applications and making decisions on whether to lend to consumers/businesses), an operations specialist (helping process account applications, payments, background checks, etc...), or a fraud analyst (identifying fraud and stopping fraudulent transactions before they happen).
There are also many career opportunities at a Bank's headquarters, including product management (designing account types/features and customer experiences), treasury/finance (helping the Bank manage their balance sheet), risk management, compliance (making sure the Bank adheres to regulations).
In addition to banking, you could consider a career in a brokerage like Charles Schwab or Robinhood, helping people to learn about saving and investing their money.
A few things to think about:
First, are you a people-person, or do you prefer to work behind-the-scenes?
Second, do you want to work in a branch, at a hub or at headquarters?
If you are a people person, you can be a service banker/teller, a loan officer, or a customer service representative in a branch (or in a hub with a virtual bank). There are also client-facing options within business banking, including Business Banker/Relationship Banker who advises businesses and sells banking products (like loans, credit cards and checking accounts) to business owners. You can grow and develop across these roles to become a team manager or branch manager.
If you prefer to work behind the scenes, you can be an underwriter (evaluating/analyzing loan applications and making decisions on whether to lend to consumers/businesses), an operations specialist (helping process account applications, payments, background checks, etc...), or a fraud analyst (identifying fraud and stopping fraudulent transactions before they happen).
There are also many career opportunities at a Bank's headquarters, including product management (designing account types/features and customer experiences), treasury/finance (helping the Bank manage their balance sheet), risk management, compliance (making sure the Bank adheres to regulations).
In addition to banking, you could consider a career in a brokerage like Charles Schwab or Robinhood, helping people to learn about saving and investing their money.
Wow thanks. I had no idea about fraud analysts and that sounds interesting. I'll look into it.
Ivana
Updated
Carrie’s Answer
I worked in a bank for 11 years or so, right out of college. I got the job after visiting a Career Fair at my college (Penn State). I went into a Business Banking program, where my clients were small business owners and my job was to bring in new clients, but also to service existing clients with their accounts, help them obtain lending, credit card, processing, cash management, etc. I didn't know ANYTHING about this when I got out of school, so don't be discouraged. No one does out of college. Jobs: Tellers: they are the ones who take your deposits and process withdrawals at the service desk when you walk into a bank. This is a good place to start, but if you prefer more sales or client relationships, I would recommend a Financial Services Rep. Financial Services Rep: they respond to clients who come in who have other questions like sending a wire, how to get a mortgage, line of credit, open a new account, etc. There are also Licensed Service Reps: they handle mostly investment accounts, but must be licensed the same as a financial advisor. (Banks will typically pay for licensing, but it is probably a 3-6 month process to study for). They handle the smaller, more basic things and refer anything they can't handle (or other opportunities) to the Financial Advisor in the branch or market. There are mortgage reps, sales people (who sell credit card processing, cash management, mortgages, credit cards, etc.). There are Assistant Branch Managers and Branch Managers. These are something you'd need to work your way up to and have some experience for. That said, banks have training programs for all of these jobs so I'd start there. Look to see if any offer internships and try to get one. I am a Financial Advisor now, but my banking background certainly helped. Good luck!
Thank you for your response.
Ivana
Updated
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