20 Bank Positions To Explore (With Salary and Job Duties)
By Indeed Editorial Team
Updated January 24, 2023
Published September 7, 2021
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
A wide range of banking careers at a range of skill levels help a bank operate successfully. These include experts who can help companies make profits and service-oriented professionals who attend to customer needs. Learning about the types of banking jobs available can help you decide what position you want to pursue. In this article, we examine 20 bank positions, their average salaries, and their primary job duties.
What are bank positions?
Bank positions are job opportunities in a financial institution. These roles tend to involve working with money and loans. Working at a bank allows you to make a large impact on others, whether it's helping approve them for a loan to open their dream restaurant or helping a family find an investment opportunity.
To prepare for these roles, individuals often earn bachelor's degrees in accounting, finance, or business. Depending on the role, such as a treasurer, it may be helpful to earn a master's or Ph.D. It's also valuable for these professionals to develop customer service skills since they interact with clients frequently.
20 types of bank positions
Here 20 jobs to consider in the banking industry:
1. Bank teller
National average salary: $31,787 per year
Primary duties: A bank teller handles transactions with customers. This includes withdrawals, deposits, transfers, checking, and money orders. When dealing with transactions, they may notice and prevent frauds such as counterfeit money. Other job duties include filing deposit slips and other paperwork, counting cash, and providing account information.
National average salary: $42,243 per year
Primary duties: A customer service representative in a bank assists customers and answers questions they may have about the bank or their account. This includes providing updates on accounts and balances and helping customers understand how to use banking services. They may also protect customer accounts by reviewing suspicious accounts and reissuing compromised credit cards.
National average salary: $45,400 per year
Primary duties: A bank marketing representative promotes banking products, such as checking accounts, to customers. They follow the bank's strategic plan and vision when marketing various products at their location, and any branch banks. Bank marketing representatives develop marketing strategies, attend events, and send press releases. This is a great career option for someone who wants to work in the banking industry in a more creative way that uses less money and math skills.
National average salary: $46,372 per year
Primary duties: A branch manager oversees the operations at their location and takes part in the hiring and development of employees. These professionals set goals for their team, delegate tasks, and help manage their branch budget. It's helpful for branch managers to have excellent customer service skills since they focus on developing and maintaining relationships with both their customers and their employees.
National average salary: $51,736 per year
Primary duties: A foreign exchange trader, or forex trader, uses currency exchange rates to make money trading foreign currencies. To do this, they buy or sell accordingly based on the value of currencies and other factors. They may also make exchanges for clients based on their requests.
National average salary: $51,907 per year
Primary duties: A collector, or collections agent, retrieves overdue payments on bank accounts. This involves reaching debtors by phone or mail and helping them come up with a repayment plan. Other job duties include negotiating with clients, confirming client information, and resolving discrepancies.
National average salary: $52,016 per year
Primary duties: A credit analyst evaluates potential or existing customers' credit history to determine the risk level of a bank loaning them money. Based on their research, they recommend approving or denying an application. Job responsibilities include preparing reports, completing loan applications, and using computer programs to create financial ratios of their client's current status.
National average salary: $52,069 per year
Primary duties: An investment representative advises clients on how to manage their money. They begin by assessing the individual's or company's financial status and gathering research. Once investment representatives have enough information, they establish financial solutions and develop a plan that helps them meet their client's motives.
National average salary: $53,229 per year
Primary duties: An accountant in a bank reviews financial records and prepares reports. They keep records of the bank's financial assets and liabilities. Job responsibilities also include following compliances and government regulations, reporting suspicious activities, and adjusting accounting entries when errors occur.
National average salary: $53,391 per year
Primary duties: An underwriter determines what type of loan to offer clients based on their financial information. These professionals work closely with credit analysts who determine whether they should approve a loan. Underwriter job duties include determining the risk level for lending or ensuring a client through risk assessments and analyzing statistical data.
National average salary: $56,646 per year
Primary duties: A relationship manager develops and maintains partnerships with clients. They use their knowledge of the bank's products and services to share benefits with current and potential customers. Relationship managers also remain knowledgeable about their competitors, resolve customer complaints, and learn about customer needs.
National average salary: $57,466 per year
Primary duties: A financial analyst helps businesses and individuals in ways to make a profit through investments, such as stocks and bonds. After gathering related data, they interpret their results to find trends and make projections. Based on these predictions, financial analysts develop recommendations on ways to improve their operations.
National average salary: $58,914 per year
Primary duties: A financial advisor at a bank helps clients find ways to best manage their money using short-term and long-term investment planning. To do this, they meet with clients to access their needs and goals. They then recommend strategies and help them identify new opportunities.
14. Mortgage advisor
National average salary: $63,177 per year
Primary duties: A mortgage advisor guides individuals and companies in finding what loans are best for them based on their circumstances. These financial experts offer products from mortgage lenders. Some job duties include completing applications for clients, researching terms or conditions for home loans, and maintaining records of when mortgage loan deals expire.
National average salary: $64,798 per year
Primary duties: A compliance officer helps banks ensure their operations comply with federal, state, and local laws along with financial regulations. This includes making sure the bank's policies and procedures follow lending and deposit rules. Compliance officers also conduct audits and inspections, monitor risk areas, and conduct research on banking laws.
16. Loan officer
National average salary: $66,213 per year
Primary duties: A loan officer assists borrowers throughout the application process. They evaluate and authorise credit, business, or real estate loans. Other job duties include interviewing applicants, sharing the benefits and risks of loan products, and preparing loan proposals.
National average salary: $71,226 per year
Primary duties: An auditor reviews a bank's financial records to ensure they abide by compliance and are accurate. They conduct assessments to determine their company's effectiveness in their risk management activities. Those working as auditors in a financial institute can choose to become a Certified Bank Auditor (CBA) after earning a degree in accounting and completing an exam.
18. Asset manager
National average salary: $74,453 per year
Primary duties: An asset manager oversees the performance level of a company's financial investments, such as stocks or bonds. Their end goal is to increase their client's return on each asset in their portfolio. Asset managers also study market trends to identify potential investment opportunities.
National average salary: $76,785 per year
Primary duties: An investment banker advises corporations and governments in how to raise money in capital markets. This involves methods such as selling equity and issuing debt. Job duties include overseeing mergers and acquisitions, examining all risks, identifying potential investors, and supporting clients through the expansion of their enterprise.
National average salary: $86,142 per year
Primary duties: A treasurer, or financial manager, monitors a bank's operations. In addition to tracking finances, they oversee their organisation's goals and objectives. Other responsibilities include maintaining the company's budget, managing investments, overseeing investment strategies, and executing money management activities.
Salary figures reflect data listed on Indeed Salaries at time of writing.
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