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How Many Jobs Are Available in Major Banks
By 10/25/2022 Banking

The banking sector is one of the world’s most stable and secure industries. But just how many jobs are available in major banks? And what types of positions are open? Let’s take a look at these banking jobs.

It should be no surprise that the banking sector is a major employer. In fact, banks are some of the largest employers in the world. According to a recent study, the top five banks alone employ over 2.5 million people worldwide. That’s more than the populations of New York CityLos Angeles, and Chicago combined! 

But it’s not just the big banks that are hiring. Regional and community banks are also looking for talented employees to join their ranks. In fact, according to the same study, there are currently over 7 million open positions in banks around the world. And with an aging workforce, that number will only increase in the years to come. 

So, what types of jobs are available in banks? Well, it depends on the bank and its size. Still, there are typically ten central positions: 

1. Bank Teller

The bank teller is responsible for providing excellent customer service while performing duties such as processing deposits and withdrawals, cashing checks, and selling money orders. The bank teller must maintain a high level of accuracy and be able to handle large sums of money.

Responsibilities:

  • Provide excellent customer service
  • Process deposits and withdrawals
  • Cash checks
  • Sell money orders

Requirements:

  • High school diploma or equivalent
  • Excellent customer service skills
  • Strong math skills
  • Ability to handle large sums of money accurately

2. Loan Processor

The loan processor is responsible for the financial analysis of loan applications and the review of supporting documentation. They use their knowledge of risk analysis and financial statements to determine whether a loan should be approved. The loan processor must be able to work independently and have strong attention to detail.

Responsibilities:

  • Analyze loan applications and supporting documentation
  • Determine whether a loan should be approved
  • Prepare loan documents for closing

Requirements:

  • Bachelor’s degree in finance or a related field
  • 2+ years of experience in loan processing or a related field
  • Knowledge of risk analysis and financial statements
  • Strong attention to detail

3. Banker

A banker plays an essential role in the financial sector by working with clients to help them acquire loans through a bank or another financial institution. To do this, they meet with individuals or businesses who are bank members and provide guidance on how to fill out the paperwork correctly and what rates will apply for their loan. Often, bankers aim to also make money for the consultation by charging an hourly rate.

Responsibilities:

  • Meeting with bank members to discuss loan options
  • Helping bank members complete loan applications
  • Processing loan documents

Requirements:

  • A bachelor’s degree in business or a related field
  • 1-3 years of experience working in banking or financial services
  •  Vital customer service and communication skills

4. Mortgage Consultants

A mortgage consultant is responsible for helping companies or individuals identify the most suitable type of mortgage for their needs. They provide expert advice on various mortgages available and work with clients to find the best option for their circumstances. In some cases, mortgage consultants may also be responsible for negotiating mortgage terms and conditions on behalf of their clients.

Responsibilities:

  • Researching and advising on the various types of mortgages available
  • Working with clients to assess their circumstances and identify the most suitable type of mortgage
  • Negotiating mortgage terms and conditions on behalf of clients (in some cases)

Requirements:

  • Expert knowledge of the different types of mortgages available
  • Excellent research and analytical skills
  • Good communication and negotiation skills

5. Investment Representative

An investment representative is a professional who works at an investment firm, bank, or another financial institution. They provide clients with information about investment opportunities, help them make decisions about their investments, and provide ongoing support and advice.

Responsibilities:

  • Provide clients with information about investment opportunities
  • Help clients make decisions about their investments
  • Provide ongoing support and advice

Requirements:

  • Bachelor’s degree in business, finance, or a related field
  • At least two years of experience working in the investment industry
  • Excellent communication and interpersonal skills

6. Investment Banker

An investment banker is a specialized role but has many different focus areas. Investment bankers can provide financial advice to clients related to investments, help with underwriting new securities issues, and provide guidance to companies on mergers and acquisitions.

Responsibilities:

  • Provide financial advice to clients
  • Help with the underwriting of new securities issues
  • Guide companies on mergers and acquisitions

Requirements:

  • Bachelor’s degree in business, finance, or a related field
  • 2-5 years of experience in investment banking or a related field
  • Strong analytical and problem-solving skills
  • Excellent communication and interpersonal skills

7. Credit Analyst

A credit analyst is responsible for analyzing an applicant’s financial history to determine their creditworthiness. This includes reviewing an applicant’s credit report, employment history, and current financial situation.

Responsibilities:

  • Analyzing an applicant’s financial history to determine their creditworthiness
  • Reviewing an applicant’s credit report, employment history, and current financial situation
  • Making recommendations to lending institutions on whether or not to approve an application for credit

Requirements:

  • Bachelor’s degree in business, finance, accounting, or a related field
  • 2+ years of experience working in a role involving credit analysis or underwriting
  • Strong analytical and critical thinking skills

8. Relationship Manager

The relationship manager works for a bank or financial institution and acts as the point of communication between members and the institution itself. They are responsible for ensuring members are satisfied with the institution’s services, answering their questions, and addressing their concerns. The relationship manager also works to cultivate new business relationships and maintain existing ones.

Responsibilities:

  • Act as the primary point of contact between members and the institution
  • Answer questions and address concerns about services
  • Cultivate new business relationships and maintain existing ones
  • Ensure that members are satisfied with the institution’s services

Requirements:

  • Excellent communication and interpersonal skills
  • Strong customer service orientation
  • Ability to build rapport and maintain relationships

9. Financial Advisor

A financial advisor works as part of a financial institution to help clients determine their financial goals and the best means to achieve them. The advisor guides investments, insurance, and other financial products to help clients reach their goals.

Responsibilities:

  • Meet with clients to discuss their financial goals
  •  Research and recommend investment and insurance products that fit the client’s needs
  • Monitor the client’s account and provide updates on performance
  • Provide ongoing support and advice to clients as their needs change

Requirements:

  • A bachelor’s degree in finance or a related field
  • Certification from a financial planning organization such as the CFP Board or FINRA
  • Strong communication and interpersonal skills

10. Financial Analyst

A financial analyst is responsible for monitoring market trends across industries and using their expertise to guide businesses and clients on when to buy, sell, or hold investments. Financial analysts also develop economic models to forecast future market conditions and assess the impact of proposed business decisions.

Responsibilities:

  • Monitoring market trends and analyzing data to identify investment opportunities
  • Developing financial models to forecast future market conditions and assess the impact of proposed business decisions
  • Preparing reports and presentations to communicate findings to clients or senior management
  • Recommending investment strategies based on market analysis and risk tolerance

Requirements:

  • Bachelor’s degree in finance, economics, or a related field
  • 2-5 years of experience working as a financial analyst or in a related role
  • Expertise in financial modeling and market analysis
  • Strong analytical and problem-solving skills

Of course, many other positions are available in banks, from accounting and finance to human resources and marketing. No matter your skillset or experience level, there’s likely a position available for you in the banking sector. 

Conclusion: There you have it—an overview of the job market in banks worldwide. As you can see, there are plenty of open positions waiting to be filled by qualified candidates like you. So if you’re interested in joining the ranks of one of the most stable and secure industries out there, start your search today!

FAQs about how many jobs are available in major banks

How to apply for a job in a major bank?

There are a few ways to apply for a job in a major bank. You can either go through the bank's website and apply online or go to the bank's branch and fill out an application. You can also inquire about open positions and submit your resume to the bank's human resources department.

What are the benefits of being a bank teller?

Some benefits of being a bank teller include having a regular schedule, working with the public, and handling money. Tellers also receive training in customer service and cash handling, which can be beneficial in other types of jobs.

How many jobs are available in the United States?

There are approximately 155 million jobs in the United States, according to the most recent data from the Bureau of Labor Statistics.

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