How to Become a Business Banking Development Officer
Career News February 24, 2014A business banking development officer is a bank employee who develops new business, from deposit to loan to merchant opportunities. This professional targets a market, usually of small to medium sized businesses, and then helps to the development manager to improve customer relations with these companies for mutual profit. Part of the development officer’s job is to make sure that the bank’s policies and procedures are in compliance with local and state authorities.
Applying for a Banking Development Officer Position
This position is a challenging one and most companies expect serious applicants to have a bachelor’s degree in a significant field; this could be in business administration, finance, or management. Work experience is just as important, and most employers want workers who come from three years of experience in a banking position. This is because working for a bank introduces you to common practices in the business that might not be covered in textbooks. A combination of work experience and schooling will help you improve business judgment, and the ability to make quick decisions.
You are working under general supervision, specifically reporting to a manager, but you are also entrusted with a heavy responsibility. In fact, a development officer may actually perform the job duties of a supervisor if the manager is unavailable. When you work with the manager and other executive members, your focus will be on creating banking strategies for profit, and investing in customer retention.
What is the Market Saying
If you read up on information released about the banking industry, from such sources as the U.S. Bureau of Labor Statistics, you will see that the development manager position is growing at an impressive rate of 15 percent. However, just because the career track may be steady doesn’t mean anyone can find a job. Employers choose from highly educated applicants, and usually those who have experience in maintaining professional relationships, since this characterizes the job of a business banking development officer well.
As a professional, you understand finances and how to influence the perceptions of your audience. You might consider this job as a business planner meets a development specialist, with extra managerial tasks. No wonder employers choose from college-educated students, as well as applicants who come from a heavy communication background. You interact with others, but you also influence others, and must get along with a wide variety of workers and clients.
Some applicants have been hired on the basis of their master’s degree, typically in a field like business administration. While a master’s degree doesn’t guarantee you a job, statistically, MBA graduates do move into senior-level positions at a faster rate than bachelor’s degree graduates.
If you are tired of working nine to five jobs and are craving a challenge, then think about branching out into a banking career. This is a stable job and one that adapts to recession well. A job as a banking development officer pays well and will put you on the path to bank management, which has tremendous potential for growth within the company.
