This document provides an overview of various careers in banking from entry-level positions like Teller to upper management roles like Chief Executive Officer. It describes the typical job duties, education and experience requirements, and salary ranges for positions such as Teller, Customer Service Representative, Retail Office Manager, Credit Analyst, Lender, Loan Operations Manager, Internal Auditor, Human Resources Director, Marketing Director, Chief Information Officer, and Chief Financial Officer. The document aims to outline the career progression opportunities within the banking industry.

1. 1
Ryan Hammond
“Careers in Banking: Entry Level to Top Management”
Financial Service Operations
FINA 4345.001

2. 2
Introduction________________________________________________________________3
Teller____________________________________________________________________3-4
Customer Service Representative______________________________________________4-5
Retail Office Manager________________________________________________________5
President_________________________________________________________________5-6
Credit Analyst_____________________________________________________________6-7
Lender____________________________________________________________________7
Special Assets Officer_______________________________________________________7-8
Loan Operations Manager_____________________________________________________8
Internal Auditor____________________________________________________________8-9
Human Resources Director____________________________________________________9
Security Officer____________________________________________________________10
Marketing Director________________________________________________________10-11
Chief Information Officer____________________________________________________11
Chief Financial Officer_____________________________________________________11-12
Chief Executive Officer______________________________________________________12
Conclusion_______________________________________________________________12-13
Bibliography_______________________________________________________________13

3. 3
The world of banking is a complex environment full of various individuals whose skills
are a necessity in making sure the entire banking process runs smoothly. Overall, knowledge in
finance and banking are required to hold a position in a banking institution. Before I delve into
the careers available in banking, it is important to know why banks exist as an important part of
the economic system. Banks exist in order to facilitate funds between people who have excess
funds and people who are in need of those excess funds. If banks were not available to facilitate
these funds, people who would need to borrow funds would pay a very high interest rate, because
the people lending the money would not know the appropriate risk associated with the borrower.
Banks can, and do, analyze how much risk will be associated with a borrower, therefore
providing more stable and affordable interest rates. Everyone from the Teller to the CEO play an
important role in ensuring funds are facilitated in a professional and appropriate manner.
Someone who is new to banking and looking to get their foot in the door at a bank will
likely start off as a Teller. I am a Teller myself at Austin Bank where I’ve been working my way
through business school so that I may move up one day. Tellers are the lowest paid employees of
the bank with pay ranging from $8.39 - $13.21 an hour, with the average being $10.44 an hour
(1). This is due to the fact that Tellers typically do not generate much income for banks, and
generally are seen as people who “handle” money rather than “make” money. This is not to say
Tellers are not important, because they are the first person a customer meets when they walk into
the bank. In an environment where first impressions play a key part in business deals, the Teller
is arguably the most important position in the bank. Duties of a Teller include handling
customers’ transactions such as: deposits, withdrawals, loan payments, cashing checks, and
issuing cashier’s checks. Tellers must be able to handle disgruntled customers and resolve
discrepancies with a customer’s account when needed. Basic skills in math, computer literacy,

4. 4
organization, and time management are desired for potential Tellers. At the end of the day,
Tellers must be able to balance their cash drawer without being short or over any money. Thus, a
Teller must be focused on each transaction he or she handles while, at the same time, being as
efficient as possible. Behind the scenes of handling customers’ transactions, Tellers are
responsible for balancing and ordering money for the main cash vault, as well as balancing and
putting money in the ATM. As a Teller grows and becomes more comfortable in their position,
they will be encouraged, sometimes required, to cross-sell products to potential and existing
customers. These products include, but are not limited to: online banking, debit cards, various
accounts (CDs, Savings, Money Market), and direct deposit. If a Teller shows leadership and
carries out their duties exceptionally well, he or she may be offered a promotion to Teller
Supervisor where they will carry the same responsibilities, in addition to: holding Teller
meetings, preparing schedules, disciplining Tellers, and approving transactions.
Another position within a bank that can be considered an entry level role is a Customer
Service Representative, or CSR. A CSR position could be a great next step for someone who is
looking to move away from their Teller role. According to the Bureau of Labor Statistics, job
growth for CSRs is expected to be 13% through 2022 (2). Customer Service Representatives
generally make slightly more than a Teller with a range of $9.07-$17.56, with the average being
$12.68 an hour (1). Once a potential customer decides they would like to do business with you,
they will have the opportunity to sit down with the CSR and discuss any accounts and/or services
they may need. The CSR is in charge of entering in a customer’s information into the bank’s
account system to ensure the customer’s money is placed into their specific account. This
includes: verifying the customer’s identity, address, phone number, and business documents if
need be. Customer Service Representatives also handle the setting up of Safe Deposit Boxes,

5. 5
Individual Retirement Accounts, and Certificates of Deposit. As does a Teller, a CSR is
responsible for making sure a customer is satisfied with the relationship they have with the bank.
This could range from providing a customer with statements to verify transactions, or refunding
fees on the customer’s account if the CSR deems it appropriate. Skills recommended for holding
a Customer Service Representative position include being personable, organized, detail oriented,
computer literate, and efficient.
Presiding directly over both the Tellers and CSR is the Retail Office Manager, or ROM.
The salary a ROM earns is anywhere from $36,188 to $69,523 per year with the average being
$50,804 per year (1). Education desired for a ROM is a Bachelor’s degree in business, or at least
5 years of related experience or equivalent, and must have a minimum of 2 years’ experience in a
supervisory position. Skills demanded for a Retail Office Manager are computer literacy,
reasoning capabilities, mathematical understanding, regulation knowledge, and knowing how to
perform both the Teller and CSR duties when needed. I had the opportunity to interview the
ROM of our Longview Greggton location, Abigayle Berry, who previously held the Teller
Supervisor and CSR position before taking over the role of Retail Office Manager almost two
years ago. According to Abigayle, daily tasks consist of answering phone calls and emails,
opening and closing accounts, approving checks and deposits, conducting meetings, supervising
branch audits, counseling employees when needed and anything else that may press her for
attention (3). Above the other demands of a Retail Office Manager, Abigayle explains that the
most important aspect of her job is having the ability to be flexible and provide excellent
customer service.
The role of President within a bank is a well-respected, important position. More
specifically, there exists Location Presidents as well as Regional Presidents with the former

6. 6
being someone presiding over a single location and the latter being someone presiding over
multiple locations in a particular region. Banking Presidents’ salaries often range anywhere from
$70,121 to $180,130 per year with the average being $104,523 per year (1). Higher education is
almost always a requirement of someone looking to take on the role of President, with majors
concentrating in Accounting, Business, Finance, and Management (4). Master’s degrees are
becoming more in demand for this career as banks look to hire more knowledgeable employees
to gain a competitive advantage. A President is responsible for overseeing all banking activities,
presenting regular reports about operations to the CEO, ensuring growth and development of the
bank, finding new business opportunities, and monitoring bank performance among many other
things (5). An individual who is seeking to become a President in the bank must have good oral
and written communication skills, strong leadership abilities, detail oriented focus, solid analytic
skills, interpersonal competencies, and a professional appearance (5). Like many upper
management positions, the President does not have what most people would consider a routine,
or “black and white”, list of duties for each day.
A great step for anyone seeking a role in the lending area of a bank is the Credit Analyst
position. Credit Analysts earn between $33,804 and $66,551 per year with the average being
$45,875 per year (1). A Bachelor’s degree is required, preferably in Accounting or Finance to
hold a Credit Analyst position (6). Senior Credit Analyst, Kim Raney at our Longview Greggton
location says she looks for candidates who are numbers oriented, have the ability to multi-task,
and have strong verbal and written skills (6). According to Kim, the duties of a Credit Analyst
consist of spreading financial statements, preparing cash flows, loan memos, and written analysis
of companies, owners, industries, customers and profitability models (6). As a Senior Credit
Analyst, Kim also manages and trains a group of Credit Analysts and real estate evaluation

7. 7
specialists, as well as reviews appraisals when needed. As I stated earlier, many people looking
to move into the lending field begin in the Credit Analyst department to gain a better
understanding of evaluating credit risk (7).
Once an individual has a thorough understanding of evaluating credit risk and credit
analysis, he or she may be offered a chance to handle the role of a Lender. The average salary of
a Lender is $59,820 (2). As with the Credit Analyst and President positions, a Bachelor’s degree
preferably in Accounting or Finance is highly recommended, but can also be substituted with
years of equivalent experience. Manny DeLeon, a Community Lender at our Pine Tree location,
uses his skilled background in Accounting and Finance daily (8). According to Manny, day-to-
day activities include managing and maintaining a loan portfolio, analyzing all credit factors
associated with each proposed loan and applying professional judgment to determine the credit-
worthiness of each borrower, and developing and maintaining adequately documented credit files
for each customer (8). Lenders must also identify problem loans and act accordingly to liquidate
collateral if necessary. This includes repossessions, foreclosures, or filing judgments against
borrowers (8). Manny began his career as a Teller and moved to Credit Analyst before holding
his current position as Community Lender.
Should a problem loan need to be liquidated, there exists in banking a Special Assets
Officer. The salary for someone in charge of Special Assets ranges from $44,820 to $98,030 per
year with the average being $62,479 per year (1). A Bachelor’s degree in Accounting, Banking,
or Finance is highly recommended for someone to hold a Special Assets position (9). Shannon
Seay, the Special Assets Officer at our Longview Greggton location, explained that she
experiences mostly on-the-job training with the bank’s attorney to learn rules and regulations for
bankruptcy (9). Shannon stated that she has “been in this job for 2 years and still learns

8. 8
something new every day.” Daily duties consist of monitoring customer accounts that are in
bankruptcy, preparation and filing of documentation with Bankruptcy Court on outstanding debt,
repossessing to liquidate any collateral that is surrendered to Austin Bank through bankruptcy,
and reviewing and collecting charge-off loan accounts (9). Shannon previously held a Credit
Analyst position prior to taking on the role of Special Assets Officer.
Overseeing the operations of the lending side of the bank is the Loan Operations
Manager. Salary for an individual in a Loan Operations Manager position can be anywhere
between $39,465 and $87,998 per year with the average being $61,090 (1). It is preferred that
someone looking to become a Loan Operations Manager hold a college degree in Business,
Finance, or Accounting, but equivalent experience may be accepted in certain circumstances
(10). According to the Loan Operations Manager at our Longview Greggton location, Lisa
Sampson, day-to-day duties comprise of making changes to loans per loan personnel requests,
preparing board reports for the bank’s board of directors, balancing all accounts pertaining to
loans, handling credit disputes, paying taxes and insurance for customers who escrow with the
bank, as well as maintaining and processing all charge-off requests, classified requests, and non-
accrual requests (10). Lisa began her career as a Teller and moved to Loan Teller before taking
on the role of Assistant Loan Operations Manager where she was soon promoted to Loan
Operations Manager (10).
Often a behind-the-scenes job in the field of banking is the Internal Auditor. The salary
for an Internal Auditor ranges from $37,688 to $71,520 per year with the average being $51,491
per year (1). Those who hold a Bachelor’s degree in Accounting or Finance will be qualified to
apply for a position as an Internal Auditor (11). In order to gain a competitive advantage, an
individual may become a Certified Financial Services Auditor, or CFSA, but it is not required

9. 9
(12). Patty Morgan, the Internal Auditor of Austin Bank, states that her daily duties include
auditing for adherence to policy and procedures, auditing for risk, and ensuring safety and
soundness of the bank as a whole (11). Patty ensures that reconciliations are being performed,
verifies for dual control and segregation of duties, as well as reviews various departments on an
annual basis to ensure that policy and procedures are being adhered to (11). Patty held roles such
as Teller, CSR, and Lending before moving to the Risk Management department. The most
important part of an Internal Auditor’s job is making sure that risk is limited throughout the
organization (11).
An important part of any organization, not just banking, is Human Resources. If
understanding financial statements and analyzing risk do not interest an individual, they may
thrive in a bank’s Human Resources department. This is not to say that the Human Resources
department is uneducated in Accounting or Finance. Estimated salaries for a Human Resources
Director are between $48,347 and $121,744 per year and have the average of $78,915 per year
(1). A Bachelor’s degree in Accounting or Human Resources will allow an individual the chance
to become a Human Resources Director (13). According to our Human Resources Director, Lynn
Littlejohn, her day starts with a list, but sometimes crisis dictates variation from the assigned
schedule (13). Lynn’s duties include presiding over her department where they submit Profit
Sharing allocations to 401Ks, complete W-2’s and benefit statements, complete payroll reports,
set up new employee deductions for insurance in payroll, and implement all payroll adjustments
for the new year among various other tasks that may come their way (13). Her department works
on an annual schedule rather than a daily routine. A few skills necessary for a Human Resources
Director include strategic critical thinking skills, the ability to prioritize, and have emotional
intelligence (13).

10. 10
Banks are constantly targeted by both internal and external threats. For this reason, banks
invest in a Security Officer who will use his or her knowledge and skills to help protect the bank
from robberies, forgeries, identity theft, irate customers and any other conceivable threat a bank
may face (14). Internal threats include employee issues, such as: problems at home, children
issues, and divorce. At first glance, one may not consider an employee’s personal problems
much of a threat, but these problems can lead to workplace violence. Banks may vary on what
specific education they look for in a Security Officer, but having a background in law
enforcement and/or having a degree in Criminal Justice and/or Business Management would be a
strong start (14). Salaries for Security Officer range from $29,697 to $93,217 per year with the
average being $48,583 per year (1). The Security Officer for Austin Bank, Keith Fletcher, not
only handles security issues, but is also in charge of facilities and purchasing (14). Facilities
must be maintained to a high standard in order to keep the bank’s image intact and to exude a
professional appearance for customers and potential customers alike (14). Desirable skills for a
potential Security Officer are time management, the ability to multi-task, and effective
communication.
A vital part of the bank’s operations is the marketing team, which is managed by the
Marketing Director. The often-seen salary of a Marketing Director pays from $40,054 to
$137,376 per year with an average of $78,319 per year (1). Potential Marketing Directors will
likely hold a Bachelor’s degree in Business Management or Marketing. Skills sought after in a
Marketing Director are creative thinking, strategic thinking, strong leadership, effective written
and oral communication skills, and computer literacy. As with every other area of the banking
industry, the Marketing department must adhere to regulations and laws concerning Marketing
practices. Responsibilities of the Marketing director comprise of developing the marketing

11. 11
strategy, managing the marketing mix, researching and reporting on opportunities, managing
budgets, and making customer focused decisions (15).
Simultaneously working behind the scenes and building relationships among employees
and customers is the Chief Information Officer, or CIO. A salary for a CIO can fall between
$81,226 and $219,521 per year with the average being $142,609 per year (1). An individual
holding a degree in Engineering, Computer Science, Information Management, Accounting,
Finance, or an MBA would have a solid foundation for working his or her way up to becoming a
CIO (16). Important skills for someone to be successful in the position of CIO consist of having
a good understanding of technology and how it relates to banking services, the ability to plan and
manage projects, the ability to work with people and interface between the “technical world” and
the “business world”, and most importantly – having the ability to do something different every
day and avoid getting stuck in a rut (16). Our CIO, John Orr, plans and manages projects in and
connected to the Technology Department, approves invoices, plans budgets, and manages vendor
relationships on a daily basis (16). John has over 18 years of experience in the Information and
Technology field and reveals that the most important part of his job is building relationships. In
order to do well, the CIO must remember to not solely focus on the “central core function” of
their job in order to maintain sight on the bigger picture (16).
Watching over the financial aspects of a bank is the Chief Financial Officer, or CFO. The
salary range for a CFO is between $64,863 and $201,898 per year with an average of $117,841
per year (1). A strong education in Accounting or Finance will have an individual who is striving
to become a CFO on the right track. Credentials that may provide an advantage to CFO
candidates comprise of: Chartered Financial Analyst, Certified Public Accountant, Certified
Financial Planner, and especially a Master’s of Business Administration. Extensive financial

12. 12
management experience is demanded from banks in order to become a Chief Financial Officer
(17). The duties of a CFO consist of analyzing financial strengths and weaknesses of the bank,
planning for improvement, and monitoring cash flow while overseeing any other financial
activities of the organization (17). The CFO is in charge of the Accounting and Finance
departments in order to ensure that the bank’s financial reports are accurate and completed in a
timely manner (17). Skills that a bank looks for in a potential CFO include budget management,
financial analysis, strategic planning, forecasting, and financial reporting.
At the top of the bank stands the Chief Executive Officer, or CEO. A typical salary for a
CEO ranges from $69,114 to $304,568 per year with the average being $152,295 per year (1).
Earning a Bachelor’s degree in Accounting, Finance, or Business Management is highly
recommended, unless an individual has years of experience. In addition, more and more
organizations, including banks, are seeking candidates holding an MBA to fulfill their CEO
roles. The CEO is the highest ranking executive in the bank who presides over developing and
implementing upper-level strategies, making major organizational decisions, managing the
overall operations of the bank, and serves as the main line of communication among the board of
directors and corporate operations (18). There is no such thing as a “typical day” for a CEO;
however, an ideal CEO will be able to think strategically, focus on the big picture as well as
immediate tasks, have exceptional written and oral communication skills, possess strong
leadership skills, and be willing to accept responsibility for the outcomes of the bank as a whole.
The list of careers in banking does not end here. There exist many other positions and
opportunities for a wide range of individuals, including: Accountant, Treasury Manager, Risk
Manager, Investment Advisor, Technology Specialist, and everything in-between. As the world
of banking changes the way it handles business, it will also continue to change the way

13. 13
individuals work within the bank. Over the foreseeable future of banking we will continue to see
roles become more diverse, technical, and perhaps even obsolete.
Bibliography
(1) "Salaries." PayScale. Web. 23 Nov. 2014. <http://www.payscale.com/search>.
(2) U.S. Bureau of Labor Statistics. U.S. Bureau of Labor Statistics. Web. 23 Nov. 2014.
<http://www.bls.gov/ooh/office-and-administrative-support/customer-service-
representatives.htm>.
(3) Personal interview. Abigayle Berry, Retail Office Manager, Austin Bank. 2014.
(4) "Bank President Career." Bank President Education Requirements and College Majors. Web.
23 Nov. 2014. <http://www.mymajors.com/career/bank-president/education/>.
(5) "Bank President Job Description." Bank President Job Description. Web. 23 Nov. 2014.
<http://www.jobsdescriptions.org/bank/bank-president.html>.
(6) Personal interview. Kim Raney, Senior Credit Analyst, Austin Bank. 2014.
(7) "Analyzing A Career In Credit Analysis." Investopedia. Web. 23 Nov. 2014.
<http://www.investopedia.com/articles/financial-careers/09/career-credit-analysis-analyst.asp>.
(8) Personal interview. Manny DeLeon, Community Lender, Austin Bank. 2014.
(9) Personal interview. Shannon Seay, Special Assets, Austin Bank. 2014.
(10) Personal interview. Lisa Sampson, Manager Loan Operations, Austin Bank. 2014.
(11) Personal interview. Patty Morgan, Internal Auditor, Austin Bank. 2014.
(12) "Certified Financial Services Auditor (CFSA)." Certification. Web. 23 Nov. 2014.
<https://na.theiia.org/certification/CFSA-Certification/Pages/CFSA-Certification.aspx>.
(13) Personal interview. Lynn Littlejohn, Human Resources Director, Austin Bank. 2014.
(14) Personal interview. Keith Fletcher, Security Officer, Austin Bank. 2014.
(15) "The Role of the Marketing Manager." Marketing Made Simple. Web. 25 Nov. 2014.
<http://www.marketing-made-simple.com/articles/marketing-manager-
role.htm#.VHPDz_nF9Fw>.
(16) Personal interview. John Orr, Chief Information Officer, Austin Bank. 2014.
(17) "Chief Financial Officer (CFO)." Investopedia. Web. 25 Nov. 2014.
<http://www.investopedia.com/terms/c/cfo.asp>.
(18) "Chief Executive Officer (CEO)." Investopedia. Web. 25 Nov. 2014.
<http://www.investopedia.com/terms/c/ceo.asp>.