Banking Careers Description
Banking was developed out of people's need for a save place to keep their money. Banking has expanded over the years to meet people's increasing and diverse financial needs.
What am I going to do in this occupation?
Almost all newcomers start working at a branch, where there is a trained professional team that's skilled in all aspects of general banking. Under supervision of this team the trainees acquire the necessary experience in the work situation.
Whether the branch is situated in the city or rural areas to a great extent determines the nature of the work. In rural areas bank clerks work in more than one division, while the work in bigger cities is much more specialized.
Bankers provide bank services to the public and commercial and industrial organizations. They keep record of all the transactions the bank handles and of the money deposited and withdrawn.
Clients frequently sign stop-orders for the payment of sums of money to institutions such as bond and insurance installments and the banker must ensure that these payments are made. Bankers also deliver services with regard to the administration of wills shares travelers' cheques, credit notes, estates, , portfolios and many more. They are also responsible for the handling of investments and other financial transactions like pension schemes, estate development, life and short-term insurance, hire-purchase, international merit transactions and payments in connection with import and export. Large bank organizations provide specialized training in the following specialization departments:
Intern audit
All business that has been taken care of by the bank, are examined during audit, such as intern accounts, computer programmes and the effectiveness of the bank's specialist services.
Catering
This department organises the cafeteria and management dinner-rooms and serves the refreshments at all bank functions.
Credit cards
Trained personnel are responsible for the administration of credit card holder's purchases.
Translation
This work provides an opportunity for people with an aptitude for languages. Creative people that are able to translate the full meaning of one language into the idiom of another, translate journalist articles, as well as technical and law documents.
Domestic money market
Quick decisions must be made about the buying and selling of any transferable money market assets.
International assets
In this department currency is bought and sold on behalf of the client at a fast rate. Stock markets are investigated to ensure the best tenor for the client's import and export.
Currency control monitors international transactions and the foreign branch handles documentation of importers and exporters.
Computers
Advanced office machinery is used to process daily transactions to provide information to the management and all the departments within the bank group.
Domestic finances
The interest rate is controlled in this department and all transferable money-market assets are bought and sold.
Industrial banking
This department provides the installment credit and loan facilities to industries, commerce and professional people.
Marketing
Marketing includes large advertisement campaigns, promotions, sponsorships and design of stationary and product packaging.
Personnel
Trained personnel teams ensure that the workers are stimulated and that they actualise their career ideals.
Personal financial planning
This department aims to provide professional financial planning to the private sector. Guidance is given to clients with the restructuring of their investment portfolios.
Public relations
The function of the public relations department is to communicate different messages to different groups, for example to employees of the organization, potential employees, clients and the media.
Trustee work and documents
The preparation of bereaved estates as well as trustee funds are handled by experts.
Agricultural services
This department provides farmers and branch managers with advice on farming finances.
Requirements
What kind of personality do I need? Persons who want to follow a career in banking must possess the following characteristics: accuracy, responsibility and an aptitude for computational work. Bankers must have integrity and be able to maintain good interpersonal relationships. They must be able to function under pressure and concentrate well.
Where can I work?
A person who wants to follow a career in banking can work at any bank.
Can I work for myself in this occupation?
There exist no self-employment possibilities in this field.
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