Bank managers have to take whole lot of responsibilities as he/she is the captain of the branch. This is the reason why managers in banks are always found to be monitoring the complete bank sitting in the glass room. They have to track the regular record keeping tasks of the accountants to the daily transactions. Besides, the professionals have to work as business developers and their key target is to improve the business of the bank. Managers have to take marketing responsibilities and have to convince people for opening new accounts in the bank and to apply for loans. Maintaining the overall discipline in the office is also one of the crucial liabilities of the branch managers.
How to become a bank manager?
It was a time when clerks were promoted to official ranks and from there they were elevated to the ranks of assistant managers, managers, deputy managers and regional managers. But today the financial institutes recruit in their managerial positions directly. Usually the MBA candidates are preferred for these positions. The only reason is that they are well trained with the processes of business development and have the knowledge to monitor the finance; the heart and lung of banking. Often management trainees are recruited as assistant managers in banks. This is a completely a part of their practical training. Students with finance specializations and business operations are preferred by the bank recruiters. They can handle the fiscal responsibility better.
Duties and responsibilities of bank managers:
• Maintaining discipline: A bank manager is the supreme authority of the branch. The professional has to take care of the overall discipline of the office. They have to monitor the attendance and overall performance of the employees. Therefore, these officials are supposed to be self disciplined and have to show outstanding performance to retain the position and to reach hierarchy. These professionals have to check whether any of the employees is misbehaving with any customer or with their colleagues. If he/she notes any such nuisance, managers are supposed to take immediate action. They can warn the employee or can take proper step against the employee, if he/she is found to be continuing with mistakes.
• Business development: These days, bank managers have to take the responsibility of developing the business of the banks. They have to take care of the overall business development of the bank. In both private and public sectors banks managers have to meet up with the targets. They have to show business at the end of the day. Banks offer financing services such as- educational
loans for students, home loans for those who are aspiring to own a self house, car loans and personal loans. Managers have to let clients aware of these loans and other financial investment plans that the concerned bank is providing. Mutual funds, bonds, FD and medical insurances are some of the key investment schemes that banks offer. The officials have to locate the right target audiences and have to offer them the plan which suites best. For example an Indian
pensioner will always want to invest the money in such a way so that he/she might get good interest per month. Managers have to inform them about the interest rate the bank is offering for the senior citizen clients.
• A positive attitude and a perfect team leading attitude: When candidates attend various banking courses, they are trained to keep a positive attitude towards their job. Branch managers always have to maintain pleasant personality and a positive attitude. He/she must have the ability of an excellent Team Leader to support the complete team working in the branch. They have to solve any crisis the team is facing. Therefore, they are also the crisis managers and should have the attitude and spontaneity to resolve any kind of issue the bank is
• An Analyst: Managers posted in banks must have the skill of an analyst. They can notice the work of hardworking employees in the bank. Later, he/she can recommend the name during the promotional drives. When it comes to track business development, managers have to keep an eagle’s eye. This is how he/she can keep updates on the business.