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Bank Manager Profile

 Introduction

This Section of the site details information that you might find useful if you are looking to secure employment or require further details regarding working as an Bank Manager. This page details the following Information:-

  • Finding Suitable Work as an Bank Manager
  • Working Duties Expected
  • Hours and Environment
  • Working Skills Required
  • Training Requirements
  • Salary Expectations
  • Trade Information
  • Other useful Bank Manager Work Information


Finding Suitable Work

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Working Duties Expected

A bank manager in a local branch is responsible for setting and achieving targets, and motivating and leading the staff. Bank managers spend a lot of time working with customers, identifying their needs and aiming to meet or exceed them.

Marketing and selling the bank's products and services, eg mortgages, loans, share dealing and will writing, is a major part of the job. Normal opening hours are Monday to Friday, 9am to 5pm, although smaller branches sometimes open fewer hours. Large branches usually open Saturday mornings.

Bank staff usually work in modern, open plan offices with interview rooms for meeting customers. Managers may spend about half their time out of the office.

A bank manager should be:

• a good communicator
• able to negotiate, solve problems and make decisions
• able to build strong, long-term working relationships
• flexible and able to respond positively to change.

There are approximately 12,000 bank branches, and most branches have their own manager. One manager usually looks after several smaller branches. Other managers work in call centres, the Bank of England, investment banks and financial organisations.

People can work their way up from jobs such as customer service adviser or assistant manager. Banks also run management training schemes - some entrants have degrees in banking or finance, or two or more A levels/Advanced Highers.

Promotions from within a bank are performance related. Managers must be prepared to move to another branch, sometimes in a completely different area, to obtain promotion.

What does the role encounter?

A bank manager in a local branch is responsible for setting and achieving targets, and motivating and leading the staff. They may be manager of one large branch or several smaller ones.
Banking is a fast-moving, technological industry. In the last decade, there have been major changes in services and products offered by financial organisations, including banks. The main reasons are:

• advances in technology, providing streamlined administration and electronic customer services eg cash machines and internet banking
• competition from building societies, insurance and retail companies
• customers needing 24-hour access to their accounts and a wider range of services.

Streamlined administration and electronic services mean that bank managers spend more time working with customers. Identifying their needs and aiming to meet or exceed them is an important part of the job. Customers are people of all ages, including students, and business customers running small, medium or, sometimes, large companies. In some banks, larger companies are dealt with corporately by head office.

Banks work to annual targets for customer numbers and products sold. Marketing and selling the bank's products and services, eg mortgages, loans, share dealing and will writing, is a major part of the job. Managers need to know all about these and similar ones offered by competitors so they can discuss benefits of them fully with customers.
Usually, about half their time is spent out of the office, visiting business customers, at head office meetings and conferences. In some branches, however, there is a separate business manager who visits business customers. They may be in contact with local organisations, eg chambers of commerce, estate agencies and colleges, taking opportunities to gain new customers for their branch.

What type of hours will I have to work?

Normal bank opening hours are Monday to Friday, 9am to 5pm, although smaller branches sometimes open fewer hours. Large branches usually open Saturday mornings, often with a reduced staffing level. Managers sometimes work outside these hours when meeting business customers and attending meetings.

Bank staff usually work in modern, open plan offices, with interview rooms for meeting customers. Front-of-house staff wear uniforms and, in some banks, the manager does too. In other banks, the manager wears smart business clothes.

Managers may spend about half their time out of the office, maybe more if they manage a network of branches in an area and travel regularly between them. A driving licence is required.

What level of salary and benefits are there?

These figures are purely for guidance only. Salaries may vary for the area the job is situated in, age, experience along with a host of other factors:

• Salaries start between £21,000 and £25,000 a year, depending on size of branch.
• Experienced managers can earn between £26,000 and £35,000.
• Senior managers at head office, or those responsible for a network of branches, may earn from £36,000 to £50,000 or more.

Many banks have profit-related bonus schemes, with bonuses paid based on their own success in meeting or exceeding targets and motivating staff to do this. Other benefits include subsidised mortgages, pensions, loans and insurance cover.

What type of skills will I need?

You will need to have some or all of the following type of skills to carry out this job:

• to be experienced in management, ideally within the financial industry
• to be able to motivate staff to work as a team and meet targets
• to be business focused, with good knowledge of the local area
• to be able to respond positively to customers and their needs
• to be good communicators, with tact and an appreciation of confidentiality
• to be able to build strong, long-term working relationships
• to be knowledgeable about their bank's products and services
• to be in possession of good marketing, sales and IT skills
• to be able to negotiate, solve problems and make effective decisions
• to be flexible and able to respond positively to change.

What type of training will I receive?

Trainee managers usually follow a competence-based, on-the-job training programme. People who show the ability and enthusiasm to progress can take professional exams and work their way up through jobs such as customer service adviser or assistant manager to manager.

Bank managers continue to have opportunities to develop their skills and qualifications through the banks' ongoing staff training and development programmes.

Career Progression:

Promotions from within a bank are performance related. Managers must be prepared to move to another branch, sometimes in a completely different area, to obtain promotion.

Are there similar types of job or related industries?

Yes, this list is not exhaustive but see the following categories:

Accountant: Industry and Commerce
Accountant: Private Practice
Accountant: Public Sector
Accounting Technician
Bank Cashier
Building Society Assistant
Building Society Manager
Credit Manager
Customer Services Manager
Financial Consultant/Adviser

Where can I find further information?

The Bank of England, Personnel Division, Threadneedle Street, London EC2R 8AH. 020 7601 444. Website: www.bankofengland.co.uk

Chartered Institute of Bankers in Scotland, Drumsheugh House, 38b Drumsheugh Gardens, Edinburgh EG3 7SW. 0131 473 7777. Website: www.ciobs.org.uk

Financial Services NTO, 51 Gresham Street, London EC2V 7HQ. 020 7216 7366. Website: www.fsnto.org

Institute of Financial Services/Chartered Institute of Bankers, IFS House, 4-9 Burgate Lane, Canterbury, Kent CT1 2XJ. 01227 818609. Website: www.ifslearning.com

London Investment Bankers Association, 6 Frederick's Place, London EC2R 8BT. 020 7796 3606. Website: www.liba.org.uk

What trade magazines are available for this industry?

All of the following magazines and journals can be purchased from any good bookstore:

Careers in Banking and Finance - Kogan Page

Getting into Financial Services - Trotman.


Other Useful Bank Manager Work Information

We have a section available at this site on Bank Manager job interview tips that you may find of interest should you wish to brush up your skills in this area and we also have number of career articles that may also be of use to you from within our guides and documents section.

Locations where we feature Jobs include:-
Aberdeen, Berkshire, Aberdeen, Bath, Bedfordshire, Berkshire, Birmingham, Bradford, Bristol, Cambridgeshire, Cardiff, Central London, Cheltenham, Cornwall, Coventry, Derby, Devon, Docklands, Dorset, Dundee, Durham, East Midlands, East Sussex, Edinburgh, Essex, Glasgow, Gloucester, Hampshire, Hertfordshire, Kent, Lancashire, Leeds, Leicester, Leicestershire, Lincolnshire, Liverpool, London, Manchester, Middlesbrough, Midlands and in various parts of the West Midlands

Details of other Bank Manager Jobs can also be found in other UK wide areas including:-
Milton Keynes, Newcastle, Newcastle Upon Tyne, Norfolk, North London, North Midlands, Northampton, Northamptonshire, Northern Ireland, Northumberland, Norwich, Nottingham, Nottinghamshire, Oxford, Oxfordshire, Plymouth, Salisbury, Scotland, Sheffield, Shropshire, Somerset, South East, South London, South Midlands, Southampton, Staffordshire Surrey, Swansea, Swindon, Telford, Wales, Warwickshire, West End, West London, West Midlands, Worcestershire, York and throughout Yorkshire.

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