12 Steps How To Become A Commercial Banker Success

(doylc.com) How to Become a Commercial Banker - Commercial banks provide financial services for individuals and businesses, e.g. B. Payment Services, Loans and Credits. They are the largest type of financial institution within the banking industry and as such offer many opportunities for those interested in a banking career. Learn how to become a commercial banker to become part of the banking industry.

• How to preparing to become a commercial banker

1. Learn more about commercial banks. Commercial banks are the ones people use to store their money, fund their credit card purchases, and take out loans. The commercial banker assists individuals and organizations with these needs. However, the banking industry is affected by regulatory changes caused by financial crises. The boundaries between commercial banks, savings and credit institutions and investment banks are blurred. This has enabled commercial banks to also offer financial planning and brokerage services.

2. Understand the requirements of the job. Banking requires a significant amount of work, including bookkeeping and active sales skills. Overall, the job can require anywhere from 40 to well over 60 hours a week. You must be detail oriented and hardworking to make it in commercial banking. In addition, you will likely need good communication skills.

Bankers also often work outside the bank, visiting clients and courting business.

The notion of banker hours (9 to 5) has also changed as the banking industry tries to meet the needs of the public. Bankers today tend to work longer hours to market their services to potential clients.

3. Get a college degree. In most cases, commercial bankers are required to have at least a bachelor's degree. These degrees are usually in business administration, finance or business administration, however other degrees such as marketing may be useful in specific areas of commercial banking.

Students who plan to become commercial bankers should complete a heavy class load in finance and accounting, regardless of their major.

A person with only a college degree may also be able to become a commercial banker, but only if they have a large amount of relevant or related experience.

4. Consider getting a college degree. Commercial banking positions vary in terms of the experience required. However, many recruiters will prefer to hire an applicant who has a master's degree in business administration or another related field.

• How to acquisition of required skills

5. Be open to training programs or internships run by the banking industry. In many cases, commercial banking positions require prior knowledge. One of the best ways to get that experience, and also learn the skills required by the industry, is through an internship. These can be found on banks' websites or through your school's careers development office (if you are at school).

Internships can even lead to a full-time offer after completion.

For example, JP Morgan Chase offers two analyst programs for those beginning a banking career.

Another example is the Mortgage Bankers Association's Certified Mortgage Banker program.

6. Develop excellent people and communication skills. A commercial banker must be able to build a financial customer base. They are the face of the bank and the customer's connection to their personal finances, so they must be very personable, professional and polite.

7. Investigate any licenses or certifications you may need. In order to get into commercial banking, you may need certain licenses from your state or federal government. Additionally, some applicants may find that earning certain certifications can improve their job prospects. For example, accountants can take a specialty course and series of tests to become a Certified Public Accountant (CPA). This will greatly improve their chances of finding work.

Each state may have its own specific laws. Research them before getting licenses.

Most people selling securities, loans or insurance must be licensed with the relevant regulatory bodies.

8. Develop other skills important to a banking career. A commercial banker must have a wide range of applicable skills. These skills can be developed through education and hands-on experience. They include:

Computer and technology skills or knowledge.

Accounting.

attention to detail.

Marketing and Sales.

Strong work ethic.

• How to get a job in commercial banking

9. Find out what type of commercial banks you want to get into. There are a variety of different roles that a commercial banker can fill. Some of these may be fully customer-facing jobs, others may require little or no customer interaction. Below are some of the most common roles available in the industry:

loan officer. This is an entry-level position for many commercial bankers. The loan officer organizes loan agreements with companies and individuals. This job requires a high level of sales talent.

Credit Analyst. In many cases, this is another entry position. Credit analysts focus more on the analytical side of the commercial banking industry. They assess the creditworthiness of potential borrowers and must have an in-depth understanding of accounting principles.

mortgage banker. This is similar to a loan officer, but deals with a more complicated loan process and requires interaction with a larger group of people.

Trustee. This role requires a broad knowledge of all aspects of probate, taxation, planning and investing. They work with wealthy individuals to create a plan tailored to that individual and their needs.

Branch manager. The branch manager is responsible for both employees and customer contact. This position requires a very high level of interpersonal skills.

10. Specialise. There are always certain aspects of the commercial banking industry that are more in demand than others. For example, there is currently a great need for programmers capable of creating commercial banking and trading systems. There is also a need for those with a marketing specialization and those who can create investment products for companies. Having one of these skills or related experience can set you apart from other job applicants.

11. Bank clerk job interview. Find and apply for commercial banking positions in your area or in an area you would like to move into. If you are called for an interview, research the position and the bank beforehand to gain an edge over the competition. You can research the position online and visit the bank's website for more information. In particular, you should know:

The values ​​or principles of the bank.

The main activities or specializations of the bank.

who his customers are.

who his competitors are.

Information about trends in the region and industry.

The approximate duties associated with the position.

12. Show your best side. Banking is a very traditional and customer-centric industry. So, to be successful in an interview and in your career, you need to present yourself well. This means that you should wear a traditional-looking suit without any colorful accessories to the interview. You should never address the interviewer by their first name and always be polite and smiling.