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Dr. Priyanka Tandon
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‘Good banking is produced not by good laws, but by good bankers.’

Hartley Withers

Banking positions are highly sought after due to the skilled nature of the work and the competitive pay offered in the finance sector. 

There are many attractive work prospects in various disciplines that pay well and provide job stability and security. Knowing more about banking will help you make an informed choice for your career.

IN THIS ARTICLE:

  • Banking overview
  • Key skills required in banking
  • Qualifications required to work in a bank
  • Programmes to consider when planning your career
  • Undergraduate
  • Postgraduate

Banking overview

The operation of a bank or a bank branch is managed by skilled individuals known as bank managers. Other support staff who operate under the bank branch manager are assistant bank managers, tellers, clerks, and customer relationship officers. 

A bank manager’s major responsibilities include making decisions about whether to lend money to individuals or businesses, providing trade finance, managing investments on behalf of clients, managing the structure and operations of a specific branch or the entire bank, reviewing employee work, and encouraging improvement by offering suggestions and other ideas. Before going into detail about the banking profession and skills required, let’s look at what banking all is about, and the skills required for it. 

The task of managing customers’ financial assets is the classic definition of banking. Essentially, a banker serves as a client’s financial defender. Banks lend money and charge interest, and manage payments securely. Managers of banks, credit unions, and other financial institutions oversee operational activities and resolve operational problems. Reports, budgets, and statutory returns are all created by bank managers, who also organise and supervise the gathering of accounting and financial data. 

Key skills required in banking

The key skills required in banking include being good with numbers, analysis and people; patience; communication; critical thinking; confidence; resilience; and the ability to manage stress.

Qualifications required to work in a bank

Are tertiary qualifications required to work in a bank? The answer is YES! Since the tasks performed by banking professionals are analytical in nature, a sound understanding of elementary mathematics and reasoning capability is required

The higher-level positions in banks such as bank branch manager, loan manager, information technology manager, and compliance officer all require solid decision-making and management skills. 

A jobseeker can pursue a banking career right after graduation from any stream, be it the arts, science or commerce. It’s not necessary to have  a professional degree to enter banking, but professional degrees such as a Bachelor of Business Administration (BBA) (especially a BBA in Banking), or a Bachelor of Accounting Science (BCompt) provide an added advantage. 

banking management jobs

Qualifications you will find useful in preparing for banking management jobs include:

  • Higher Certificate in Business Management – Credit Banking (HCBM B): This one-year programme helps students develop the basic management competencies needed in credit banking – credit management, fundamentals of business and financial management, marketing, and people management, alongside an introduction to banking. You can, if you wish, study all these banking courses online.
  • Bachelor of Business Administration (BBA): Higher-level banking professionals are required to lead a branch or team and to take decisions. Students who pursue BBAs master management skills such as effective planning, leadership and management. Nowadays the BBA degree is offered with specialisations in banking or retail management, such as the BBA in Credit Banking offered by Regenesys Business School.
  • Bachelor of Accounting Science (BCompt): This qualification provides an in-depth understanding not only of accounting but also highly specialised auditing, tax, ethics and related legal issues, and would prepare you to become a bank accountant, or a tax or financial advisor.
  • Master’s in Business Administration (MBA): A master’s degree with any specialisation can lead to greater responsibility in banks. There are many specialised positions in banks such as information technology officer, human resource manager, compliance officer, and credit manager. For these positions banks prefer candidates with specialised degrees such as MBA (IT), MBA (HR), and MBA (Marketing). Further, if you aim to work in any of the specialised fields of banking such as investment banking, commercial banking, etc, you are likely to need a degree in the same field. 

In some countries, banking authorities conduct recruitment assessments to check the analytical and reasoning ability of job candidates. Higher grade mathematics, English, and data interpretation are usually tested in these types of exams. 

Programmes to consider when planning a career in banking

Undergraduate 

  • Higher Certificate in Business Management – Banking 
  • Bachelor of Business Administration
  • Bachelor of Business Administration – Credit Banking
  • Bachelor of Business Administration – Retail Management
  • Bachelor of Accounting Science

Postgraduate 

  • Master of Commerce 
  • MBA, particularly one specialising in IT, finance, HR, or analytics
  • Postgraduate Diploma in Business Management

I’m confident that an honest assessment of these factors will help find the appropriate qualification to lead to the perfect banking career. Keep learning, as that is what will ultimately lead to your career growth. 

Wishing you a great career and lots of success!

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PhD, Financial Inclusion (Motilal Nehru National Institute of Technology, Allahabad, India); MBA, Finance (APJ Abdul Kalam Technical University, Lucknow, India); MCom (Sam Higginbottom Institute of Agriculture, Science and Technology, Prayagra, India); BCom (University of Allahabad, India). Prior to joining Regenesys Business School, Dr Priyanka served as assistant professor of finance at Jaypee Institute of Information Technology in Noida, India. This followed a stint as a research associate and finance lecturer at the National Institute of Financial Management, which is closely linked to India’s Ministry of Finance. She is actively involved in research, with 15 publications to her credit, and is among peer-review website Publons’ top-ranked academic reviewers.

Author

PhD, Financial Inclusion (Motilal Nehru National Institute of Technology, Allahabad, India); MBA, Finance (APJ Abdul Kalam Technical University, Lucknow, India); MCom (Sam Higginbottom Institute of Agriculture, Science and Technology, Prayagra, India); BCom (University of Allahabad, India). Prior to joining Regenesys Business School, Dr Priyanka served as assistant professor of finance at Jaypee Institute of Information Technology in Noida, India. This followed a stint as a research associate and finance lecturer at the National Institute of Financial Management, which is closely linked to India’s Ministry of Finance. She is actively involved in research, with 15 publications to her credit, and is among peer-review website Publons’ top-ranked academic reviewers.

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