Working as a loan officer is one option in a commercial banking career.
Careers in commercial banking range from credit analyst to branch manager. The jobs and careers available at commercial banks are directly related to lending, credit, customer service, and investing. There are many opportunities to use business, marketing, critical thinking and communication skills in a commercial banking career.
A branch manager is one of the commercial banking career types. Managers supervise one of the bank’s branches or locations. They usually start in a lower level position, such as a cashier. Branch managers are responsible for managing operations, including supervising employees, acquiring new accounts, building customer relationships, loan origination, and deposits. It is possible to go beyond a single branch location as some branch managers become district managers overseeing multiple locations or market areas.
A branch manager is responsible for overseeing one of the bank’s locations.
Personal banking, financial advisors, customer service and cash positions are often available at branches. These are lower-level or entry-level positions that deal directly with the public, requiring customer service and listening skills. Since these positions handle daily banking transactions, including deposits and withdrawals, a basic aptitude with numbers and bookkeeping is also essential. Job roles may also include cross-selling and additional product recommendations.
A personal banker is a representative of a financial institution.
Credit analysts are another option in commercial banking careers. These positions are primarily entry level and involve processing credit applications. Analysts also help determine the creditworthiness of companies and individuals applying for funds. They can interact with a variety of internal and external bank employees to drive potential transactions through the bank’s pipeline.
A third option in commercial banking careers is that of loan officer. People in these positions help get business and consumer loans. This is primarily a sales position, but one that has future management potential.
Mortgage bankers are another of the commercial banking careers. These positions are closely related to loan officer jobs. Instead of being responsible for selling the loan, however, mortgage bankers complete much of the follow-up work by working directly with lenders, consumers, and businesses trying to obtain a loan. Mortgage bankers can collect and verify additional application information, request real estate appraisals, and work with underwriters to approve requested loans.
Trustees primarily deal with investments. These titles can include individual retirement plans, certificates of deposit, estates, and wills. Large companies may work with trustees when it comes to pension funds or 401(k) plans. Directors may participate in recommending banking products to current and potential investors.