Interest in money matters, rule regulated approach to work, numerical aptitude, problem solving skills, neat, accurate and orderly habits are at the core of banking jobs.
The highest posts need people with a good academic profile, sharp and logical approach, excellent interpersonal skills, sound judgement and quick decision making ability.
Introduction
Banking as an industry is involved with lives of individuals and communities. In towns , cities or neighbourhoods banks offer services familiar to almost everyone who earns a living or deals with money in practically any form. Economic growth, international trade and industrial liberalisation have brought about significant changes in the banking environment. Besides a rise in the number of banking jobs, more people with technical and financial backgrounds are being recruited. Banks now also offer other services such as exchanging foreign currency, advising on investments and insurance and act as executors and trustees.
In the functioning of banks there is an increase in the use of technology, eg. the use of cash dispensers, round the clock cash withdrawal facility, instant account details and money transfer through computer network. There is marketing of services in ways never done previously. Public sector banks and financial institutions have started their own merchant banking divisions to cater to the needs of a growing industry for marketing its shares and debentures. Many industrial houses too have started their own merchant banking companies for the purpose.
Banks have streamlined their organisational structure for efficient services. Computers have taken over and recruitment of technical, management, chartered accountants, chartered financial analyst managers in the private sector banks is common as the field of capital markets requires professional expertise.
Nature of Work
Keeping records of business, personnel, checking accounts, instalment loans, mortgages or the bank's own accounts, and providing customer services such as pay rolls and inventory accounting is the regular job carried out in banks.
Managers
Bank managers are overall responsibile for running the branch, and have knowledge of all the services the bank can provide and are able to advise customers appropriately. Managers have to motivate their staff so that they give the customers the best possible service.They are responsible for taking decisions regarding credit to customers by analysing the risk and ensuring that the money is repaid.
Bank Officers
In larger banks each employee specializes in one job while in smaller institutions responsibilities may not be too specific. There is an intensive training course for the actual work in all of the bank's departments. Employees are carefully screened and graded during this training period and are assigned to departments for which they are best fitted. After training they might work in bank operations or the consumer credit department, in commercial and industrial loans, as security analysts or in other trust departments , in market research, public relations and customers services. Some of the new fields in banking deal with lease-financing like that of heavy machinery and equipment for business, services such as helping business customers with payroll and tax accounting, inventory control, and with other financial matters for which special training is given. There is a growing field in banking for people who can do market research and plan business extension programs.
Corporate and merchant banking
Corporate banking involves credit risk assessment, raising capital, business mergers and acquisitions and all banking activities related to large organisations.
Merchant banking - Merchant banking implies management of trusts, securities, mutual and pension funds, public issue management and international funds. It offers advisory services to corporate clients on capital structure decisions, public issue management , underwriting, raising funds through public issues and from overseas markets, project appraisals and mergers and acquisitions.
Investment banking - Investment Bankers work in retail banking , with corporate clients and institutional banking. Investment banks trading division incorporates the activities of Brokers /dealers of secondary markets.The function is advisory and the bank supports financial activities through lending to customers.
Treasury and forex function
Treasury management is a very important finance function. Financial derivatives such as futures, swaps, and other modern tools of risk management are affected by the currency values, interest rates, share index and commodities. The deregulation of interest and exchange rates has significantly increased the risk for businesses.
Forex marketing is an interbank activity. The job entails two major responsibilities - assessing various markets eg. stock or money markets on behalf of the bank ; and customer desk to advise corporates or other banks who require foreign currency.
Professionals with banks
Lawyers in banks advise on laws and regulations affecting the operations of the institution. Large banks have engineers to work with industries and businesses. Engineers are recruited for planning, programming and maintaining computers and other electronic equipment. Chemists, agriculturists,home economists, textile experts, teachers, personnel experts and even social scientists, are also employed by banks depending upon the customers they serve.
Work Conditions
Branch managers work in branch offices which can vary in size from a small branch with limited staff, to large branches with many on the staff. They spend time visiting customers at their offices, factories or farms and visiting large client companies. Other staff also keep moving from branch to branch on transfer and may have to change specific tasks in the same branch. Work environment of banks located in large cities is comparable to that of a corporate office. Multinational banks have an elitist style both in work and conveniences.
Personal Qualities
Persons joining as officers should be able to lead their teams, manage and motivate staff. Communication skills in speech and writing are vital for their contact with customers and the management of their staff. Managing staff need integrity and honesty in all their dealings with money, customers and staff. Integrity means more than merely being honest when handling the bank's money. Frequently, employees in banks take part in confidential transactions that should be discussed only with the customer or the appropriate bank officer. The welfare of the customer and the bank might be adversely affected if the details of such a transaction were known outside the bank. They need to project a business like image. Foreign exchange transactions need an analytical, quick and mature mind. Numeracy is also important as this work involves figures. Good personal habits such as neatness, promptness and other traits indicative of a well-organised mind and a well-rounded personality are valuable personal qualities of a banker. Neatness in appearance and in work done are important in a bank, not only because the bank is judged by the appearance of its employees but also, in the bank, records must be maintained accurately and neatly.
Entry/Training Officers cadres
Foreign and Private banks - Campus recruitments made at reputed management institutes, e.g., IIMs, Faculty of Management Studies (University of Delhi), Xavier Labour Relations Institute (Jamshedpur), Jamnalal Bajaj Institute of Management Studies (University of Bombay) or experienced Chartered Accountants are the most commonly selected people.
RBI - The Reserve Bank Services Board selects personnel for all branches of the RBI. There are three points of entry into the RBI - the clerical cadres, Grade A officers and Grade B officers. Selection is through written examination in general English, numerical aptitude, mental ability and logical reasoning. Clerical staff is recruited in the cash department as examiners of notes and coins. They can appear for promotional departmental examinations after five years of service for Grade A positions. The next promotional examination for them is on completion of 9-10 years of service.
RBI - The RBI services Board conducts an All India Exam entrance examination for class I posts.
Eligibility: Graduation/Postgraduation/CA/MBA. Age: 21-26 years.
Patern of test: The examination has 2 parts. Part I is a written test.
Selected candidates are called for an interview by the RBI Board.Paper I is General Mental Ability of the objective type. Paper II is an Essay type paper of English including Comprehension/Precis/Essay etc. Paper III covers Economic and Social problems.
Nationalised Banks -The Central Recruitment Board (SBI) selects probationary officers for all branches of SBI.
Eligibility : Graduation
Age : 18-26 years
Selection : Written test and interview. The test format is similar to the RBI examination. The test is followed by an interview and selected candidates act as Probatonary Officers for a 2 year stint in the various operations of a bank. PO is required to have experience with sectors dealing with loans, foreign exchange, savings and current accounts and the legal cell. At the end of the first year, an assessment examination is held to increase promotional avenues for the individual. Clerical staff is recruited through the bank's regional boards. The eligibility and test format are the same as for PO examination.
Commercial Banks also recruit Probationary Officers ('PO') through their Banking Service Recruitment Boards ('BSRB'). The recruitment is carried out by a regional office of BSRB.
Eligibility : Graduation
Maximum age : 28 years.
Courses/Institutions
BA/Diploma/Certificate
Manipur University, Canchipur, Imphal - 795003,Manipur
B.A. (Banking)
Aligharh Muslim University, Aligarh - 202002, U.P
Dip in Bank Administration and Diploma in Banking & Insurance
Maharshi Dayanand University, Rohtak-124001, Haryana
Diploma in Banking Management
Guru Ghasidas University,P.O. Koni, Bilaspur - 495009, M.P.
Diploma in Banking
Ravishankar University, Raipur - 492010, M.P.
Diploma in Banking & Business Management
Maharaja Sayajirao University of Baroda, Vadodara - 390002
Diploma in Commercial & Banking Law
Gujarat University, Navrangpura, Ahmedabad - 380003
Certificate Course in Banking Management
Shivaji University,Vidyanagar, Kolhapur, Maharashtra - 416004
Diploma in Banking
Marathwada University, Aurangabad - 431604
Certificate Course in Management of Bank Funds
Sri Venkateswara University, Tirupati - 517502, A.P
Banking & Accountancy
Barathidasan University, Palkalai Perum, . Tiruchirapalli - 620024
BA.Bank Management
Annamalai University,PO Annamalai Nagar - 608002, Tamil Nadu
Banking Law& Practice
University of Madras,Centenary Building,Chepauk,Chennai-600005
Certificate Course in Banking BBM (Banking Mgmt.)
Utkal University PO Vani Vihar, Bhubaneshwar-751004
Diploma in Bank management
SNDT Women's University,1, Nathibai Thackersay Road, Mumbai-400020
Diploma in Banking
Shivaji University,Vidyanagar,Kolhapur-416004
Diploma in Banking
University of Pune, Ganeshkhind, Pune 211007
Diploma in Banking
Guru Ghasidas University, PO Koni , Bilaspur 495009
Diploma in Banking
University of Rajasthan Jaipur-302004
Diploma in BankingCooperation
Diploma in Banking and Finance
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