 |
by Anonymous |
|
Everyone knows a bank branch that's great to deal with -- where the staff are friendly, listen to your banking problems and try to help. You may not know that to a large extent it's the bank manager who creates this friendly atmosphere.
Darryl Yeo, 26, is the bank manager of a branch of the Canadian Imperial Bank of Commerce in Calgary, Alberta.
"In my experience if the manager of the bank is conscientious and spends time with customers, then the staff follows the lead. I make sure that this happens in my branch.
"The image of banking is changing. I may still wear a pinstripe suit but bankers are becoming more approachable. There's more competition for banking business from trust companies and credit unions. We have to get out and meet customers and look for new business," he said.
Darryl works in a small branch that employs about 10 people. "The branch is situated on the main floor of a highrise apartment and office complex, about 10 blocks from the downtown core of Calgary."
"The most enjoyable part of my job is in contact with the public. I like having some control over the place where I work, and find running the bank a challenge. I can see results from my work, either in profits, shown in the monthly budget; by increasing bank business; or simply by comments from customers. It's gratifying to know your branch is doing a good job.
"I spend about 75 percent of my working day dealing with customers and working on loans of one sort or another. I spend some time on branch administration but the majority of my day is spent on the credit end of banking," he said.
He explained that this involved taking applications from customers and making a decision on whether to grant the loan. "Every bank manager has a certain limit to what he can lend without referring it to the next level. If a loan application is over my limit, I write a report and send it to our regional office which is also in Calgary, and between us we decide whether or not to grant the loan."
The next step is to get the security together. Security is collateral. Whenever a bank loans someone money it wants a good indication that the money will be paid back.
"For example, if you want to borrow money to buy a car the bank will probably take a chattel mortgage on that car, which means that if the loan payments aren't kept up the bank can seize the car and sell it to recover its funds," he explained.
"Security in commercial accounts can be quite involved. We take security over things like a company's inventory, over accounts receivable, over equipment or land. I'm interested in commercial credit, and would like to get into it to a greater extent in the future."
Darryl is convinced that banking is on the move.
"Banking will change in the future. People used to be hesitant about coming to the bank for a loan. But today they tend to 'shop' for money. Different banks have slightly different interest rates, and so on. We spend more and more time developing new services," he explained.
"A manager has to know the local businesses and people who live in his service area. We are encouraged to look for new customers. If I see a new business start, or one change ownership, I make a note of it, and may go over and introduce myself and let the business know what services the bank can provide."
The Bank of Commerce has an officer call program to encourage managers to visit customers at their place of business and talk to them on a social basis. Banks rely very much on word of mouth to attract new clients; customers who like the service the bank provides recommend it to their friends. Each branch must build a good reputation and that's Darryl's job.
"The Bank of Commerce does regional and national advertising in newspapers, and on radio and television. They send us posters and literature which we make available in the branch," he said.
"This is an interesting part of my job. I can't spend as much time on it as I'd like because of the amount of work we have in the branch."
Darryl is responsible for hiring tellers for the branch. Supervisory staff are usually transferred to the branch by regional office as part of the company training plan.
Darryl arrived at the branch through this method. "I have my Bachelor of Commerce degree from the University of Alberta, in Edmonton. The Bank of Commerce did on-campus interviews and I thought there was a great future in banking. I've been with the Commerce over five years, and I feel I'll definitely make it my career.
"I started as a 'trainee' and spent six months in a typical branch, working and learning what was involved in every job from teller to ledger keeper."
Darryl then went to the regional office inspection department for nine months. In this position he visited branches to inspect or audit, and ensure that each branch followed regulations set down by head office.
The next step was to bank accountant "where I supervised about 12 people. I received my credit training as a branch credit officer. I worked for a year in each of these positions.
"Then I went into the marketing department in our regional office where I co-ordinated registered home ownership, and registered retirement plans. Almost two years ago I was transferred into my present position," he said.
This on-the-job training was supplemented by courses given by the Bank of Commerce. "The Bank has a staff college in Toronto and I've attended courses there. I also take night courses sponsored by the Canadian Banker's Association at the university here," he said.
"Banking is a great career, there are many benefits, and opportunities for advancement. Students tend to become discouraged by the training period. There's nothing wrong with spending time as a teller. I think it's one of the best ways to learn how the machinery of banking works."
BANK MANAGER
The bank manager is the person responsible for the efficient running of his/ her branch. He/she oversees the routine operations of the bank and its personnel, deals with customers, and with members of the banking community outside the branch building.
Training
On-the-job training and experience in bank work is a primary requirement for the bank manager.
The amount of education required by the person who is beginning his/her career in banking varies widely. High school graduation is sufficent for the person who begins as a teller (and tellers can become managers). However today, more university graduates in commerce and finance and related fields are being hired by banking institutions.
But even university graduates must receive training and experience while working in a bank before they can become managers.
Aptitudes Needed
Good aptitude in practical mathematics is a definite asset, as is the ability to think logically.
Much of banking involves dealing with the public, so an interest in and ability to work with others is important.
High School Subjects
Business subjects are helpful. English and other subjects that provide a good general background should be taken. Knowledge of another language wouldn't hurt. Of course, math should be studied, too.
Your choice of high school subjects will be determined by when you want to start working in a bank (i.e. after high school, college, or university). If, for example, you plan to study commerce and finance at a university, make sure you take the high school subjects that are required for admission to that particular university program.
Related Careers
Accountant, auditor, bank teller, investment counsellor, bookkeeper are just a few.
©1999 TG Magazine/Le Magazine TG
tgmag@tgmag.ca