Bank Branch Manager Jobs
Branch bank managers are where the buck stops when it comes authority at a bank’s branch. They do answer to regional managers or vice presidents, but are ultimately responsible for that branch’s performance and conformance to bank and regulatory policies and procedures.
Branch managers manage all personnel, making sure that they are providing good customer service to customers, and coaching those who need it.
They may help resolve some customer disputes. Branch managers also ensure that the branch is staffed appropriately. They are also responsible for making sure the branch meets lending and other performance goals.
It is the branch manager who provides leadership and motivation. Some banks also require the branch manager to provide training to all new branch employees or assist high level personal and business banking clients with their banking needs. There are some banking institutions that look at the bank manager as a sales manager, expecting him or her to bring new business into the bank and maintain existing customer relationships.
Since branches are open longer hours and weekends, people who are not willing to work evenings and Saturdays should not pursue this line of work. Since managing involves working closely with both employees and customers, you should enjoy working with people if you intend to become a branch manager.
According to the Bureau of Labor Statistics, the employment outlook for branch managers is good, and the number of jobs in banking in general is expected to grow due to an increase in the number of branches expected to open over the next ten years.
Unlike tellers, branch bank managers are expected to hold a bachelor’s degree in a field related to finance or business. Some banks prefer employees with education in accounting or financial analysts. Some banking institutions expect or encourage their management employees to earn a master’s degree in business administration.
There are professional banking associations that also provide specific coursework and certifications for particular aspects of banking. For example, the Banking Administration Institute offers the Loan Review Certificate program for persons who review and approve loans. The Mortgage Bankers Association (MBA) offers the Certified Mortgage Banker (CMB) program.
Knowledge, Skills, and Abilities
You will need to possess quite a bit of knowledge, skills, and abilities if you want to become a bank branch manager. While some banks require a slightly different skill set than others, most banks expect branch managers to have previous experience, usually at least a two to three years, of working in a bank. Managers are expected to have a thorough knowledge of banking products and services, as well as bank and federal banking regulations and policies.
But that’s just the beginning. Because branch bank managers are responsible for managing employees, banks expect branch managers to have excellent leadership skills, and be able to make decisions for the branch and customers based on bank policy. Some banks expect branch managers to have project management skills as well as excellent salesmanship skills.
Because branch managers interact with the public on a daily basis, they should possess excellent communication skills. They also frequently juggle multiple tasks and priorities and so should have good organizational and time management skills. The ability to interact with people in a positive way is also an important one for bank managers to have.
The average salary for branch managers can vary widely from bank to bank and state to state. The average annual salary of financial manages according to the U.S. Bureau of Labor Statistics is $70,000, but that includes managers of other departments within a bank. Depending on the location of the branch, the salary can be as low as $40,000 per year and as high as $80,000 per year.
Potential Career Paths
Branch managers have reached the top when it comes to career path within the bank’s branch itself. But don’t worry. There is always room to grow at a bank, especially a large bank with many branches. If the branch manager is managing a smaller location, he or she could be promoted to a larger, more prominent branch. Other potential advancement opportunities for branch bank managers include regional branch manager, district branch manager, and vice president.
If you want to leave the bank’s branches and work at corporate headquarters, banks can use your management experience in other departments you have experience in, such as loan acquisitions, processing, and management, and customer service. Through additional training through the bank and professional associations, you can also become part of the bank’s regulatory team or mortgage banking department.