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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

Thank you comment icon There are lots of departments in the bank that you can work on, like Human Resources, Admin, Finance, Sales, Product, etc. Each department requires different skills and knowledge, try to find more resources online and see which one is fit for you. Jordan

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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!
Thank you comment icon 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
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Maria’s Answer

Hello, good luck to you in your search for college and a career. In banking and finance, there are many options for a career path. First consider if you are a people person or prefer analytics. For customer ( people facing ) jobs there are many options for for operational jobs. Also consider that banks have diverse business units including retail-banking including commercial-banking, as well as more institutional business models that serve clients that are businesses ( companies ).

Again, for finance you need to determine if you are a people person, or if you prefer product development and analytics.

Most likely], any banking or finance career will need an BA in economics, and to move up the corporate ladder, an MBA and or Financial Licenses would be recommended.

It is an exiting career, whish you the best.




Thank you comment icon Thank you very much. Ivana
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Michael’s Answer

There are many wonderful answers here already provided, but I just wanted to add in one perspective. I think the first thing you want to ask yourself is do you like working with people/customers? (ie - did you ever work retail? did you enjoy it?)

Because one of the more satisfying parts of banking is working with customers to help ensure they're "making the most of their money". This can be done at a retail banking level or all the way up to a financial advisor level.

The good news is, if you don't necessarily like working with customers directly (which is ok of course!), then there are MANY areas behind the scenes that could be a good fit. From the operation side of things, HR, working with other vendors of the bank itself (IT, FX etc)

It really is a B I G field.
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Justin’s Answer

I worked at a bank for 15 years prior to joining new company and if interested in working with people/clients to help meet financial goals a retail bank can provide a number of great entry jobs such as teller or relationship banker to get experience with working with various business partners and products and then can find out what you are most interested in. I have seen young professionals move to being a mortgage lender, commercial banker or financial advisor all with the bank and further their career path.
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Chaochao’s Answer

There are a lot of great answers here. I;ve worked at an investment bank for a summer and then 6 years at a large consumer bank, now working at a fintech company. As several folks said here, banking (or finance in general) is a large industry. I'd say:
- Investment banking is still a potentially good entry level job in the first couple of years after college, because it offers exposure to a diversity of business areas. The nature of the job is that you will prepare a lot of materials for clients looking for services like IPO, Merge & Acquisition, and other "capital market deals". It's usually a 80-100 hr a week job, with a lot of Ivy League grads. So the competition to get in is intense, the competition to stay in the game is intense, but it does train your ability to time manage, expectation manage, get really super fast & advanced in some core early career skills like PPT, Excel, etc. And having this kind of background is highly looked up upon by other future employers and business schools.
- Consumer/commercial banking is a bit different, from my own experience it's like any standard corporate job. If you are in the core business decision-making units, the requirement for math could be a bit higher, finance by nature is a rather analytical area. The decisions to be made are highly economic, quantitative in nature. Nowadays there are also interesting (and increasingly important) functions of digital product development in both big consumer banks, think Chase and Capital One, they have some award-winning apps. So if you are into design, customer need, you can play a big role being a product manager, designer, or even software engineer to make consumers' lives easier by developing & improving how we transact financially in the digital world using such app.
- Now I'm doing product full time at a large financial tech company. There are many household names in this field, think Robinhood, Credit Karma. They really disrupt how banking, personal finance/wealth management/insurance is done. If you go work there as a product manager, designer, or software engineering, you do all the great interesting things typical of innovation, product management, but in a really impactful way because the old way of banking is antiquated and the new inclusive, consumer-friendly way of banking created by these fintechs are truly revolutionary.
Thank you comment icon Thank you, I greatly appreciate your response. Ivana
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Christine’s Answer

Great question. There are so many roles you can pursue in banking. You would have to see which one interest you and one that would fit your skills yet one can always acquire skills with experience:

Banker- Advisor- a person that is responsible for the overall relationship of the account
Banker/ Financial Advisor assistant- a person that supports the above role in many ways such as helping the banker/ FA with maturities, cash balances, asset allocation, amongst other duties,
Loan officer- person that helps people with application of loans and mortgages
Analyst- person that helps individuals make investment decision based on financial analytics
Branch manager- person that oversees a certain branch
Teller- person at a local bank that cashes check, accepts deposits and processes withdrawals but has other duties,

I wish you all the best!


Thank you comment icon Thanks a ton. Ivana
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Aimee’s Answer

Hi, there a lot of areas in which you can work in a Bank. Examples: Operations, Risk Management, Investments, Marketing, Products, IT.
It depends on what you like more to choose the area where you will feel more comfortable.
Try to think if you like to interact with people, or you better prefer to work by your own, if you like to listen to clients needs or you prefer to execute instead of plan.
Give yourself a few minutes to think what you like most, don´t think in an industry now.
If you identify that banking is and interesting industry for you, try to match what you like most or what you passionate about and how that fits with all this options in banking.
Thank you comment icon Thank you so much. I will definitely as these questions to myself. Ivana
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Matthew’s Answer

Ivana - I will take a completely different approach to all of the other answers, have you considered working as a bank examiner for the Office of the Comptroller of the Currency (OCC)? The OCC is part of the US Treasury Department. I would suggest researching what it would take to become an entry level bank examiner.

You can search for the information by typing this in your browser: "Entry-Level Bank Examiners - OCC: Careers at the OCC"

This is the fastest way that I know to get to see how a bank works from the same view point as a bank executive.

Once that you have a few years experience as a Bank Examiner, then you could decide to go to work inside of the banking industry after gaining a significant amount of industry knowledge.

Also, each state has a banking division and they have bank examiners as well.

Check it out. I think that you might find this fascinating.

Best of luck.
Thank you comment icon Thank you so much, I will definitely check it out. Ivana
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Yumi’s Answer

As previous advisers indicated, there are many different banking cares. Here is my example. I am in Securitization, one of many products that my company offers to our clients. I love my career in securitization and hope you'll find it interesting. Securitization involves a process of pooling various types of receivables such as auto loans, mobile device, trade receivables, credit card debt obligations, etc. and selling their related cash flow streams to various third party investors including corporate bank (my employer). It's a form of non-recourse capital raising tool used by many our corporate clients. We analyze the assets (receivables) being securitized, determine credit protections that we need as well as specific financing / legal structure that is unique to each asset type.

Thank you comment icon Thanks for the help. Ivana
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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 comment icon Thank you for your response. Ivana
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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.
Thank you comment icon Wow thanks. I had no idea about fraud analysts and that sounds interesting. I'll look into it. Ivana
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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.
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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.
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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!
Thank you comment icon Thank you so much for the advice. Ivana
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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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