Banking officer is a term that can be used to describe two very different position classifications in a bank. The most common usage of banking officer describes the customer service representative or teller. The more formal use of the term refers to senior management in the bank. This term is typically used to describe the chief financial officer, chief economist, and chief executive officer of the bank.
In the primarily customer service oriented positions, banking officers are an essential part of the organization. This position has a great deal of interaction with the public, and provides front-line banking services. The tasks required in this position include processing of customer requests, reconciling, and some computer-based processing of transactions or correction of errors.
In order to become a banking officer, most employers require successful completion of post-secondary education. This can be either a university or college degree. These positions provide the skills necessary to complete the requirements of the position, and allow the employee to apply for different positions within the bank.
If you enjoy providing customer service, are naturally outgoing, and want to work in the financial industry, then banking officer is a great position. After gaining work experience in a bank, many people take staff development courses in banking procedures, lending, or investing. Combining education and training allows them to move into loan officer or investment officer positions.
The second type of banking officer is part of the senior management team. Reporting directly to the president, vice president, or board of directors, this position has a significant amount of responsibility. Responsible for making policy decisions, these types of positions are high profile and very well compensated.
This type of banking officer meets with department managers, reviews projects and proposals and determines if they are in keeping with the banks strategic direction. He or she works closely with the upper management, and is responsible for translating long-term plans and projections into reality.
In order to qualify for this type of position, advanced degrees in management, finance, accounting, or economics is required. A minimum of 15 years working in the banking industry is necessary to qualify for these positions. There is a significant amount of travel, long hours, and interference with personal and family life in these positions. Banking officers at both levels work directly with money, financial instruments, loans, mortgages, and investments. Computers are involved in every banking transaction, making these skills integral to everything that the banking officer will do during a standard day.