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How To Make Career In Commercial Banking 2024: Functions, benefits

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Are you thinking of joining the banking sector? If yes, then commercial banking can be the optimum choice for you. The sector offers career advancement along with attractive pay. So let us discuss about commercial banking functions and benefits. 

One can enjoy a great number of benefits in the sector. That’s why looking up to a commercial banking career can be a smart decision. Although all of the positions don’t have much growth.

What is commercial Bank?

But to join the banking sector, you’ve to undergo a whole process. At that time, there is a need for proper guidance. When looking for guidance, aspirants can rely on the Institute of Professional Banking (IPB) .

With their guidance, the journey will be a lot easier. They have a team of skilled teachers who can help you all along your journey. Therefore, make sure to indulge with them while looking for guidance. 

In this post, we will tell you the ways to help you make a career in commercial banking.

Commercial Banking india functions

Build Your Career in Retail Banking in India

What Is Commercial Banking India?

The main motive of commercial banking is to serve businesses, government agencies, and institutions like colleges and universities. The service list counts checking accounts, loans, and lines of credit.

When it comes to commercial banking, you can also think of banks that serve large-scale business customers as well as banks that serve small-scale customers like everyday consumers.

Sorts of Employment In Commercial Banking

There is a wide range of careers in commercial banking. From branch manager to sales coach, the list is big. Here are a few examples of commercial banking careers:

  • Branch manager
  • Business development manager
  • Loan Officer
  • M&A analyst
  • Marketing Officer
  • Commercial banking manage
  • Commercial banking president
  • Compliance manager
  • Credit analyst
  • Customer service representative
  • Relationship manager
  • Portfolio manager
  • Quality assurance specialist
  • Sales coach

Must Read: Top 5 Certification Courses India to get Job in Private Banks

Entry-Level Positions In Commercial Banking

Commercial banking has a number of entry-level positions. Aspirants can break through those positions in the sector as well. The listicle of entry-level commercial jobs is as follows:-

  • Administrative assistant
  • Assistant Manager
  • Business development associate
  • Loan coordinator
  • Receptionist
  • Teller
  • Underwriting assistant

Must Read: 6 Hacks for Crack Bank Interview Freshers, Question and Answers

Steps To Lead You To The Commercial Banking Service

Being new to the industry, it might be tough for you to decide on the process. In this section, you will get to know the things which will help you reach your aim. Get through these steps to reach your goals.

Prepare For The Commercial Banking Service

First, you’ve o prepare yourself for the role. For getting the job, you need to get ample knowledge about the sector. Here is what you can do.

  • Learn About Commercial Banks

People use commercial banks to store their money, borrow loans and finance their credit card purchases. Individuals and organizations can take help from these banks for these services. Yet, the financial crisis has brought regulatory changes which have affected the banking industry with many impacts.

Now, commercial bankers offer brokerage services and financial planning. The reason is that the lines between commercial banks, savings and loans, and investment banks have all become blurred.

With that said, IPB can provide you with the best banking course after graduation. Thus, you must look up to them while hunting for commercial banks.

  • Understand The Requirements Of The Job

The banking sector includes a substantial amount of work. The list counts accounting and active salesmanship. In total, the job can demand anywhere from 40 hours per week to well over 60.

If you want to make it to the commercial banking field, you’ve to be detail-oriented and hardworking. Along with that, you need to have communication skills. With IPB, you can gain expertise in all of these factors.

As a rule, bankers work from 9 to 5 as the banking industry attempts to meet the needs of the public. They have to market their services to potential customers.

  • Get A College degree

In most cases, commercial bankers need a bachelor’s degree to clear the exams. In general, people get their degrees in business, finance, or business administration. And marketing degrees can help with other jobs.

Students who wish to get into commercial banking jobs must look up to classes in finance and accounting. You will get the job according to your degree.

Learn The Required Skills

Once you get prepared for the job, it’s time to move further. When all of your preparation is done, you need to learn the skills. They will help you make yourself stand out from the crowd. IPB can help you get along with the skills which will help you in the future.

  • Acquire Training Programs And Internships

In many cases, commercial banking positions ask for previous experience. The best way to get experience is to opt for an internship. It can help you get the experience as well as learn the skills.

You can get these internships through your school’s career development office or bank websites. With the knowledgeable team of IPB, you can get to your banking job with ease.

  • Developed Exceptional Communication Skills

Having excellent communication skills is a necessity for banking jobs. In order to establish a financial client base, you must have great communication skills. It can help you create a bond with the customers and will benefit the prestige of your bank.

  • Investigate Required Certificates and Licenses

You’ve to get a license from the state or the federal government to enter the commercial banking field. Many aspirants may agree with the fact that certain certificates can improve job prospects.

Every state has its own collection of laws and rules. Make sure to do proper research before you try to get your hands on these licenses.

  • Develop Other Aptitudes

The commercial banker needs to have a wide range of skills on their hands. They can either get it from real-world experience or education. It will help them shine in their career. These set of skills are as follows

  • Computer and technology skills or knowledge.
  • Accounting.
  • Strong work ethic
  • Attention to detail.
  • Marketing and sales.

IPB strives to provide you with all the skills required in the BFSI sectors.

Get A Job

When you attain the required skills, it’s time to make a move for the job process. Let’s get started with the job process. Below we’ve provided a process that you should follow in order to get a job:

  • Figure out the desired post

We all know banks offer a varied options of posts. Some of them require a lot of meet-ups with clients. However, some posts may require little or no customer interaction. Here are some of the posts which aspirants can look up to:

  • Credit Analyst

The job of a credit analyst is about the analytical side of the commercial banking industry. They have an in-depth understanding of accounting principles to assist their clients. 

  • Loan Officer

The loan officer organizes loan contracts with individuals and businesses. Many bankers count them as entry-level positions. You need to have adequate knowledge of salesmanship.

  • Branch Manager 

The job of a branch manager is to look after the interaction of both employees and customers. In order to get to this position, one needs to gain expertise in interpersonal skills.

  • Mortgage Banker

You can take it as a similar job of the loan officer. But here the task is quite more difficult. They have to interact with a huge crowd.

  • Trust officer

One needs to have enough knowledge from all the areas in order to get this job. The issues one needs to handle are estate law, taxation, planning, and investment. Their task is to work with wealthy individuals to make them reach their goals.

  • Specialize

Banking and finance sectors have aspects that are more in demand when you compare them to others. For instance, there is a need for programmers who are able to create commercial banking and trading systems.

Or there might be a need for a specific concern. If you’ve knowledge of that area, it will set you apart from others.

If you need specific knowledge, IPB can help you with that. With a wide range of courses, you have the opportunity to select the one which suits the best for you.

  • Interview

Look out for commercial banking job interviews in your desired area. Move forward and fill out their vacancies if they’ve any. If you receive a call for the interview, dig up a few details about the bank and your position.

Try to get an insight into the services by visiting their official website. You just need to figure out the following:

  • The bank’s values or regulations
  • The bank’s primary functions or domains
  • Who are the clients 
  • Who are its competitors 
  • Report about trends in the area and industry.
  • The imprecise tasks involved in the position
  • Pull Out All The Stops

The banking career is a sort of traditional and client-focused industry. In order to excel in your interview, you’ve to present yourself well. Your attire should be decent and preventable.

Wear a traditional-looking suit without any bright accessories. Put a smile on your face and be polite when you go for the interview. Make sure not to call the interviewer by their first name.

CEO Message: 

The Post-Grad Program IPB Created for Banking Careers 

As graduates throw their caps, I remember asking “What’s next?” after my own graduation.

I realized that to launch a successful banking career, university degrees weren’t enough. Practical, job-ready skills were needed.

That’s why we brought together industry experts to create IPB India’s Post Graduate Certificate in Retail Banking (PGCRB).

This intensive 3-month program equips students with in-demand banking abilities like:

Retail banking operations

  • Product expertise across loans, accounts, cards
  • Sales and relationship management skills
  • Regulatory and compliance knowledge 

The curriculum provides:

  • Interactive virtual classes
  • Doubt clearing with faculty
  • Content updated to match industry needs 
  • Exam prep like NISM 

In just 3 months, @IPB gives graduates the targeted training to start successful banking careers.

Visit www.ipbindia.com to learn more and apply!

Wrapping Up

Getting yourself into a bank job is kind of tough. But IPB can make the process a bit easy with their guidance. Under their guidance, a lot of aspirants have made their dreams true.

You can also be one of them. Get in touch with the team of IPB today. And get along with the best supervision for your preparation.

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