We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.
Finance

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

What Are the Different Types of Banking Industry Jobs?

By Amber Eberle
Updated: May 17, 2024
Views: 9,931
Share

Banks employ many people in a number of different positions. Most banking industry jobs are in the commercial banking sector, and include positions such as bank tellers, loan officers, customer service representatives, branch managers, and debt collection associates. Education requirements and salary depend on the position that is held.

One of the most widely held banking industry jobs is that of bank teller. This position requires daily interaction with bank customers. A teller handles deposit and withdrawal requests and may also assist customers with purchasing traveler's checks or money orders. As banking services increase, many bank tellers have also been given the responsibility of selling services such as enhanced checking accounts to bank customers.

Loan officers assist customers in applying for loans. A person holding this position helps a customer choose the best loan — such as a mortgage loan, business loan, or line of credit — for his or her needs and then processes all the paperwork that is involved in the loan application process. A loan officer analyzes the information provided and then recommends either approving or denying the loan based on the customer's creditworthiness.

Customer service representatives help bank customers open or close accounts and also assist in answering account questions or fielding customer complaints. People holding these banking industry jobs may work directly with customers in a bank branch, or they may speak with customers over the phone or via e-mail. The nature of this position makes it necessary for customer service representatives to be very familiar with all of the services and accounts that a bank offers.

Branch managers are responsible for all aspects of a bank branch. Supervisors of different departments answer to the branch manager, and the manager implements policy to increase productivity and branch profits. The manager also resolves any customer complaints that can not be fixed by a customer service representative. A person in this position may work with high profile customers who have large amounts of money in the bank's system.

Banks offer personal, small business, and mortgage loans as well as home equity loans and lines of credit. When a customer who has received a loan defaults on the required payments, a debt collection associate will contact him. If the customer is unable to pay the total amount due, the debt collection associate may work with the customer to set up a repayment plan. People holding these banking industry jobs recover vast amounts of money for banks each year.

Share
WiseGeek is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.

Editors' Picks

Discussion Comments
Share
https://www.wisegeek.net/what-are-the-different-types-of-banking-industry-jobs.htm
Copy this link
WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.

WiseGeek, in your inbox

Our latest articles, guides, and more, delivered daily.