List of Top 5 Careers in Commercial Banking

Career List in Commercial Banking: Below mentioned are some of the commercial banking jobs that a person can obtain.

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Overview of Commercial Banking Career

Commercial Banking is also known as business bankingBusiness BankingBusiness banking refers to a bank or financial institution that focuses solely on businesses and corporate clients, offering products such as business loans, asset management, and electronic fund transfers that are tailored to their specific needs.read more; there are two main functions of the commercial banksFunctions Of The Commercial BanksA commercial bank refers to a financial institution that provides various financial solutions to the individual customers or small business clients. It facilitates bank deposits, locker service, loans, checking accounts, and different financial products like savings accounts, bank overdrafts, and certificates of deposits.read more divided into primary and secondary.

Primary Services:

  • We are accepting deposits.Lending money via Loans, OD, Cash Credit, etc.Cash ManagementCash ManagementCash Management refers to the appropriate collection, handling, & disbursement of cash for ensuring financial stability & avoiding insolvency risk. read more services.Treasury Management.Payment processing via Cheques, NEFT, RTGSRTGSThe full form of RTGS Real Time Gross Settlement is the real-time (continuous) settlement of the funds (interbank payments) that are transferred on an individual basis without netting that is on order by order basis, and it is usually taken into use for transferring money/securities from one particular bank to the other on a real-time basis.read more, or Transfers.

Secondary Services:

  • Dealing in foreign exchange services.Payment of expenses of the customers like rent.Accept tax deposits or refunds.To act as trusteesTrusteesA trustee is an individual or institution with legal authority to manage the trust property and assets on behalf of the settlor to benefit the beneficiary. They have complete control over the trust assets until they get transferred to the beneficiary. The administration of assets goes as per the directions of the trust.
  • read more in a financial transaction.

The loans given by the commercial bank can vary according to the strengths of the bank. e.g., a bank will be more comfortable giving only secured loans rather than unsecured loansUnsecured LoansAn unsecured loan is a loan extended without the need for any collateral. It is supported by a borrower’s strong creditworthiness and economic stabilityread more. These are considered to be a safe investment by the public since they can easily withdraw their money through atm machines. In recent times, internet banking has completely taken over the operations of the bank, and we see very fewer people in the branches standing in queues.

Due to the risk-free investment, commercial banks tend to offer a low rate of interest on the deposits; however, many private commercial banks, in order to compete with other commercial banks, have started to give a higher rate of interest on the deposits on saving accounts provided minimum balance conditions are fulfilled by the customer.

Let us now look at some of the top Commercial Banking Career Options  –

Career #1 – Credit Analyst

Career #2 – General Manager

Career #3 – Business Development Manager

Career #4 – Branch Manager

Career #5 – Loan Officers

Final Thoughts

Commercial Banking Job is one of the most exciting careers in the financeCareers In The FinanceA appropriate degree, such as a B. Com, CPA, or MBA, is required to pursue a career in finance. Then one can choose from a variety of financial careers such as equity analyst, investment banking, asset management, risk management, corporate finance, and so on.read more domain since it is a dynamic profile with extensive exposure to the loans & advances segment within the bank with a chance to analyze different borrowers and business models for availing loans.

A credit Analyst evaluates the creditworthiness of the borrower and decides whether to disburse the loan or not.

General Manager leads a large team under him in the advances department and is in charge of the portfolio assigned to him.

Business Development Manager leads the business development process for the bank.

The Branch Manager manages the entire operations at the bank branch level.

Loan Officers assess the borrower profile and the mortgage for the same to process his application.

This has been a guide to Commercial Banking Career. Here we provide the list of top 5 commercial banking career options, including Credit Analyst, General Manager, Loan Officers, etc. You may also have a look at these career articles below –

  • Top Careers in Credit AnalysisTop Careers In Credit AnalysisCredit analysts work in a variety of areas, including consumer credit, business credit, financial institutions, sovereign/municipal credit, and credit investment.read moreCareers in Financial AccountingCareers In Financial AccountingFinancial accounting career aspirants can become financial accountants, auditors, financial managers, controllers, management accountants and financial analysts. The candidates having degrees in the accounting or related fields perform various responsibilities like budgeting, analyzing data for management action, and preparing financial statements.read moreTop Career in Banking SectorCorporate Finance Top Career PathCorporate Finance Top Career PathFinancial analyst, cost analyst, credit manager, cash manager, and benefits officer are some of the most popular career paths in Corporate Finance.read more