Types of Bankers

07/08/2022 0 By indiafreenotes

A banker is a professional who advises customers on financial problems and how to better manage their finances. Savings, loans, taxes, investments, and securities are all part of a banker’s responsibilities. The banker will give the customer financial help based on their requirements and needs.

A banker’s tasks include analyzing a client’s financial situation, offering bank programs, and reviewing the client’s accounts to help the financial institution run smoothly.

Eligibility to Become a Banker

A banker’s eligibility varies depending on their profession and employment requirements.

  • A 10+2 pass from a recognized board in any stream, preferably Commerce, and a Bachelor’s degree in any area in Commerce are the minimum general qualifying standards that apply to all posts.
  • Aspiring bankers should begin studying for the Common Aptitude Test (CAT) for courses like MBA from top Management Colleges such as IIM Ahmedabad, IIM Kolkata, XLRI Jamshedpur etc which grants students admission to excellent B-schools for further education and a banking career.
  • Several more individual examinations for employment are also held by various banks across India.

Types of Bankers

A banker can work in a variety of roles. Job roles can be chosen based on one’s abilities and interests. The following are a few of the most common banking job positions:

Investment Banker

  • They assist their clients in raising funds through the capital markets and give financial advice.
  • They can help in mergers and acquisitions.
  • They are also in charge of providing help in the event of a security breach and doing insurance.

Foreign Exchange Trader

A foreign exchange trader examines many variables that impact local economies and exchange rates, then buys and sells currencies in various foreign exchange markets to profit from any misvaluations.

Asset Manager

  • A client’s assets are managed by an Asset Manager.
  • He’s in charge of examining the assets and investments. In addition, the asset manager determines the level of risk and gain associated with such assets.
  • Main responsibilities include managing multiple client accounts and maintaining effective communication with stakeholders, communicating with clients for any necessary account changes, making necessary changes to the client’s portfolio, creating impact analysis reports, and scheduling meetings with stakeholders to review their accounts.

Equity Analyst

An equity analyst’s job is to study and analyze financial data and public records from a variety of firms to determine the stock value and forecast the company’s future financial picture.

Bank Manager

  • The Bank Manager is in charge of leading a team of product specialists, tellers, and other back-office staff to deliver excellent customer service.
  • He’s also in charge of supervising and organizing the operations of financial organizations like credit unions and banks.
  • The Bank Manager’s major responsibility is to supervise the work of banking employees and to improve the performance of his bank’s branch.
  • A bank manager is also in charge of recruiting new product specialists and tellers, as well as providing them with training.

Relationship Manager

  • Relationship managers are in charge of establishing and sustaining connections with an organization’s clients.
  • Relationship managers are critical to an organization’s development and success since they not only bring in new clients but also guarantee that existing clients are satisfied.
  • To resolve client concerns, relationship managers communicate with many divisions inside the company.

Internal Auditor

  • Internal auditors at a bank examine the effectiveness of the bank’s internal control framework on their own.
  • They analyze risks and how the bank manages them by auditing all internal processes, controls, and systems.
  • They not only implement value-added solutions to reduce risks, but they also gather and examine all corporate documents to ensure that everything is by industry requirements.

Budget Analyst

  • The main responsibility of a Budget analyst is to assist organizations in staying on track with their budgets and finances and maintaining a balanced budget.
  • They also assist in the organization of the company’s finances by preparing regular financial reports, consulting with executives on financing requirements, and evaluating budget decisions for special projects or one-time expenses.

Credit Analyst

  • Credit analysts are meant to use credit scores to assess the financial situation of loan applicants.
  • They examine the financial information provided by individuals and businesses seeking loans, as well as their prospective financial circumstances, to assess if they will be able to repay the loan on time.

Loan Officer

  • Loan officers work in the same way that salesmen do, persuading consumers to apply for loans.
  • This is a difficult job since many of the people they could contact don’t need a loan, and others may lack the creditworthiness to be granted one.
  • As a result, to acquire the greatest leads and convert them, a loan officer must be in the right location at the right time.