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How to Become a Business Banking Manager

Career News February 25, 2014

It’s very difficult to land a business banking manager position straight out of college, even if you’ve majored in business management. They generally require seven to ten years of experience before offering a manager’s position. However, the good news is that banks are the number one employers of graduates who major in finance, accounting or business. Many banks will accept students who have not finished their degree program, offering them a job as a sales representative or teller, then moving them up the ladder as they finish their internship. About ten percent of banks will move employees into a manager’s position as they prove their loyalties and their financial skills, but the vast majority want a completed bachelor’s degree, and increasingly, require a master’s in business administration, finance or a related field.

The Career Ladder for Bank Management

Many business banking managers begin their careers as a loan officer, mortgage broker or trust officer. After completing 12-18 months in an Assistant Branch Manager program, they spend the next three to four years as an assistant branch manager. Their job duties entail leading the sales activities of all personnel within the branch, developing good customer service relations and ensuring that the policies are in compliance with the internal structure and government regulations.

Bank management is a highly competitive field. Most banks fill their management positions from within, as they become open, and their employees establish their financial and leadership skills. If your goal is to become a bank manager, you will need to develop your relationships within the company, getting to know tellers, bankers and managers on a personal basis, as well as good customer relations. Often, the first management job offered will be as a relationship manager. As you gain more qualifications and experience, you will be required to handle more complex customer services, as well as more complex products.

Business banking managers must deal with the public on a daily basis. Their communication skills must be excellent, demonstrating ability to interact positively with a wide variety of customer relationships, providing good service and support, and effectively leading and directing the work of team members. As the job often requires multi-tasking, they must also show the ability to prioritize, organize and manage their time efficiently and have intimate knowledge of their banking policies, computer software programs and other time saving devices.

Skills That Put You on the Rolodex

Business banking managers must have good analytical skills, displaying expertise in risk management assessment and the ability to make decisions concerning the approval of loans based on a business’s financial status and how well the business is performing. This is as important to the customer as it is to the bank as many businesses go under by taking out loans that are too large for their business to manage.

Business banking managers are usually assigned first to a small branch department. As they prove their abilities to handle all aspects of their job functions, they may be promoted to larger, more prominent departments or put in charge of handling larger corporate customer accounts. They also have the potential to be offered executive positions, such as vice-president of a branch.

Bank managers make an average of $109,740 a year, according to the U.S. Bureau of Labor Statistics. The job demand is expected to grow by ten percent over the next ten years, especially in areas where there is a developing economy.

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