20 Different Types of Banking Jobs

A job in banking is a good way to secure your future while working in the financial industry. Not only does it offer stability, but there are also many types of jobs that you can get within this field. 

There are many types of banking jobs, but they can be generally divided into three main categories: retail banking, investment banking, and corporate finance.

This article will take a brief look at each type of job, so you can have an impression of their responsibilities when you look for a job in the bank.

1. Bank Teller

A teller is a job you will see in any bank. You are there to assist customers and make sure their banking experience is as pleasant and hassle-free as possible. Teller jobs often require short training periods, which explains why they are the lowest paid of all frontline jobs.

2. Accountant

An accountant in a bank is responsible for recording and preparing financial transactions. They must ensure all figures are correct and make sure the money in the bank matches up to what is owed. Their work typically involves analyzing, which they can do using packages such as Excel.

3. Branch Manager

The branch manager is in charge of all operations and staff in a single branch. It is a supervisor position in the bank, which means you are responsible for the day-to-day management of your team.

4. Private Banker

Private bankers work with high net worth business clients or individuals who have a lot of money to invest. They provide guidance and advice on how much the client should invest in order to get a good return, as well as analyze investment reports to determine if their investments are performing adequately. 

In some cases, they will monitor the account balance and advise when more funds need to be deposited or when certain funds need to be withdrawn.

5. Investment Banking Analyst

An analyst works in the investment banking division, under an associate or vice president. They help their superior with creating financial products and carrying out research to determine which investments are solid. They also help clients buy and sell stocks through margin trading.

6. Investment Representative

An investment representative provides advice and information on investments such as stocks, commodities or foreign currency. This includes reviewing company reports and industry trends to determine the best way to invest money. 

This job is particularly interesting if you like looking at numbers and analyzing data.

7. Investment Banker

Investment bankers carry out almost all the processes in the investment banking division of a bank. They create financial products that investors can invest in, including stocks, bonds, and derivatives. 

They also help clients save or invest their money by arranging loans for them or transferring it to another financial institution. Finally, they provide advice on mergers and takeovers, as well as advice on company restructuring.

8. Foreign Exchange Trader

Foreign exchange traders are responsible for trading foreign currencies. They analyze the market to determine which currencies will perform best, then place bets on them in order to earn money. This can include short selling, hedging, and margin trading.

9. Credit Analyst

A credit analyst is responsible for reviewing clients’ accounts and determining whether they can afford certain financial products or services. 

They provide advice to companies about their customers’ creditworthiness and help them make better decisions regarding lending money to them. This also includes analyzing financial reports to ensure clients are running their businesses appropriately according to debt agreements.

10. Financial Advisor

In addition to overseeing large accounts, financial advisors also meet informally with clients on a regular basis. They discuss current market trends and devise strategies for improving their client’s personal finances. Clients of this type of manager tend to have a significant amount of assets that managers can invest on their behalf, as well as a long-term savings plan that needs constant attention.

11. Financial Analyst

Financial analysts use their expertise to help companies by providing valuable information regarding possible investments. They will conduct research and provide reports which highlight the pros and cons of specific investments. 

Once a company has decided on an investment, they will assist with making sure it is structured appropriately and that there are no hidden costs or risks.

The primary task of a financial analyst is deciding what investments will yield the best results. This can include everything from buying stocks or bonds to trading commodities or foreign currencies. This job requires a deep understanding of the market and how it will respond to certain events.

12. Risk Management Analyst

A risk management analyst analyzes information about market trends to predict when risks may occur. They create reports about their findings for senior management, who use this information to make decisions on investments or loans.

13. Mortgage Consultant

A mortgage consultant is responsible for providing clients with information on mortgages and the home-buying process. They will determine if a client can afford a certain house and what type of mortgage they should take out in order to get the best deal possible. 

Once a deal has been completed, they will continue to provide advice regarding how much the client should be paying back on their mortgage every month.

14. Budget Analyst

A budget analyst works with companies to help them plan budgets for the coming months. They will review current trends and provide reports on how much money is being spent in different areas of the business, which allows managers to make changes in order to reduce costs.

15. Loan Processor

Loans processors are responsible for reviewing loan applications and making decisions on whether or not to approve them. They will check the information provided by a prospective borrower, as well as their credit history, before determining which type of loans should be offered.

16. Loan Officer

Loan officers are responsible for assessing the impact of new loans on a bank’s balance sheet. They determine which clients will be accepted for these financial products and help create the loan contract, including interest rates and repayment periods. This position can also include offering advice to commercial property buyers or borrowers about their savings and credit arrangements.

17. Asset Manager

Asset managers are responsible for managing the investments of an individual or group. They determine the best ways to allocate funds in order to maximize profit, often making use of hedging and margin trading. This job typically involves advising clients on which stocks they should invest in, as well as overseeing hedge funds that pool money from many different investors.

18. Relationship Manager

A relationship manager is responsible for managing relationships with both existing and prospective clients. They will arrange meetings, help the client choose investments that suit their needs, then call them on a regular basis to provide updates on how their money is performing. A typical portfolio might include several hundred clients.

19. Internal Auditor

Internal auditors review company records to ensure that they are in line with regulations. They also check for fraud, waste, and abuse of power within the organization.

20. Underwriter

An underwriter reviews documents submitted by companies to determine if they are worthy of loans. They also help clients apply for loans and credit while providing advice on interest rates and repayment plans.