Most of a branch manager’s tasks are primarily administrative. With a team of employees working in the branch, customers visiting the branch every day, and outside lending organizations to communicate with, branch managers spend a portion of their time intervening in disputes, making sure the bank has adequate supplies, and following up on tasks assigned to other employees. Since the branch is only part of a larger bank, managers also review branch policies and transactions to ensure the branch is not in conflict with any of the institution’s overarching policies.
Branch managers are also required to review the individual branch’s policies, to make sure no time or profit is going to waste, as well as ensure that all client money is being used in the most ethical manner possible. Managers will often meet with loan applicants and review their financial history, in order to either approve or deny them a loan. The presence of the branch manager is usually required to access safe deposit boxes, especially for truly important clients.
Ultimate responsibility for the profitability of the branch falls to the manager. To accommodate growth, the manager must research and implement business practices that promote productivity and efficiency. Managers lead the employees of the branch, and are responsible for hiring and training of new staff, as well as creating an atmosphere conducive to improvement and profitability. The branch manager will also set profit goals for the branch ad implement plans to help the branch achieve those goals, either through advertising or through community involvement.
Branch managers also regularly report the branch’s statistics to the regional branch manager. This report often consists of financial statements and a preliminary audit of all the branch’s accounts.
In order to become a branch manager, most institutions require their employees to have a finance-related bachelor’s degree or a degree in business administration. Prior leadership experience is a must. Salary.com reports that at least two years of experience and a bachelor’s degree are required to obtain a branch manager position. These two factors ensure that the manager has the knowledge to make proper decisions concerning the direction of the branch and can effectively direct others in their work.
Though salary and duties of branch manager will vary from branch to branch and bank to bank, the U.S. Bureau of Labor Statistics does provide general information about salary and career paths.