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Bank­ing As A Career: Banker Core Val­ue

Banker core val­ue: Bank­ing as a career, one of the most sort after job in today’s world. Finan­cial insti­tu­tions are inter­me­di­aries between the own­ers and users of fund.

Finan­cial insti­tu­tions are cat­e­go­rized as banks and non banks. The finan­cial inter­me­di­a­ton role invloved in bank­ing busi­ness makes it imper­a­tive that there should be clear under­stand­ing of what a bank is, and the duties and respon­si­bil­i­ties of a banker.

Bank Def­i­n­i­tion 

A bank is a finan­cial house estab­lished for the pur­pose of accept­ing deposit and lend­ing out funds in addi­tion to oth­er ser­vices.

The bank­ing decree of 1969, defined a bank as any per­son who car­ries on bank­ing busi­ness and this includes the com­mer­cial bank, accep­tance house, dis­count house, and any oth­er finan­cial insti­tu­tion.

In this def­i­n­i­tion bank­ing busi­ness means the busi­ness of receiv­ing mon­ey from out­side sources as deposits, and the grant­i­ng of mon­ey loans, accep­tance of cred­its or the pur­chas­ing of bills and cheques etc.

What is a Banker 

Banker duties

A banker is an indi­vid­ual who advis­es their clients with regard to finan­cial mat­ters. Duties con­cern­ing sav­ings, loans, tax­es, invest­ments, and secu­ri­ties are all with­in the job ream of a banker.

The banker will pro­vide finan­cial assis­tance to the client in accor­dance with their required needs.

Ordi­nar­i­ly, peo­ple see a per­son who works in a bank as a banker, this is cer­tain­ly not the case. A banker is a per­son usu­al­ly a cor­po­rate body who has been licensed to do bank­ing busi­ness.

J. W Gilbert said that a banker is a deal­er in cap­i­tal, or more prop­er­ly, a deal­er in mon­ey. He/​she is an inter­me­di­ate par­ty between the bor­row­er, and the lender. He bor­rows one par­ty and lend to anoth­er.

Pos­i­tive Traits Which Bankers Should Pos­sess

There are num­ber of of pos­i­tive traits all good bankers should pos­sess, they include the fol­low­ing.

Career in banking

1. Abil­i­ty to do their job effi­cient­ly 

Pos­i­tive trait bankers should have in order to do their job to the best of their abil­i­ty is pre­cise­ness.

Since bankers work with many fig­ures and var­i­ous finan­cial accounts, it is cru­cial that all fig­ures and tab­u­la­tion for­mu­lat­ed by the bankers are pre­cise in nature. This will ensure that all all of the cal­cu­la­tions reached by the banker are as accu­rate as can be.

2. Have a good math­e­mat­i­cal mind 

A banker should pos­sess a good math­e­mat­i­cal mind. Being good with math­e­mat­ics will help as the indi­vid­ual deals with finance and num­bers each day, and needs to be able to ade­quate­ly under­stand them.

A banker who has a good math­e­mat­i­cal mind will find that that the job is that much eas­i­er to com­plete.

3. Deter­mi­nant in Nature 

One who shows deter­mi­na­tion in his pro­fes­sion as a banker will do every­thing in his abil­i­ty to obtain the best finan­cial out­come for a cus­tomer.

The banker who is deter­mined will review all pos­si­ble finan­cial options and only set­tle when they have found one which best suits the client.

4. Pro­fes­sion­al­ism

Pro­fes­sion­al­ism is an addi­tion­al pos­i­tive attribute which bankers should pos­sess.

Since they will not only be deal­ing with cus­tomers but indi­vid­u­als from oth­er finan­cial enti­ties and orga­ni­za­tions as well, it is impor­tant that the banker exhib­it a great deal of pro­fes­sion­al­ism.

This will make all the deal­ings between the banker and oth­ers go as smooth­ly as pos­si­ble.

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Duties of a Banker

The role of a banker is one filled with mul­ti­ple duties and respon­si­bil­i­ties. Bankers come in many dif­fer­ent ways and each one is unique in their own spe­cif­ic way.

Some of the Banker work for large cor­po­rate con­glom­er­ates, while oth­ers work for a small town finan­cial insti­tu­tions.

The roles and duties of each banker will vary amongst the indi­vid­u­als, and each one has their own set agen­da in their role as a banker.

Bank

1. Assist­ing Clients with finan­cial Needs 

The over­all duty of a banker is to help clients with their finan­cial ques­tions and needs. In order to do so, the banker must cor­re­spond with the client and deter­mine what type of bank­ing help they are look­ing for. The banker can meet with the bank patrons in per­son or speak with them over the phone..

The Bank will most­ly like­ly have numer­ous meet­ings with the client to ful­fill their desired requests.

2. Review Client Finan­cial His­to­ry 

The banker must review a client finan­cial his­to­ry and cur­rent stand­ing to deter­mine if their desired finan­cial needs can be met. The banker will also inform them the best way to meet their finan­cial goals through bank­ing insti­tu­tion.

4. Abil­i­ty to deal with var­i­ous types of finan­cial trans­ac­tions 

One spe­cif­ic duty of a banker may entail arrang­ing stu­dent loan for clients.

Many finan­cial insti­tu­tions offer stu­dent loans as a way for clients to pay for their col­lege edu­ca­tion or that of their chil­dren.

The banker will present the loans which they offer to stu­dents, review the indi­vid­u­al’s cred­it and help the client with their stu­dent loan needs.

5. Safe Keep­ing of Finan­cial Insti­tu­tion Record 

The dai­ly duties of a banker will also entail keep­ing com­plete and accu­rate records of the finan­cial institution’s trans­ac­tions which they car­ry out on dai­ly basis.

Items such as loan appli­ca­tions, bank state­ments and oth­er accom­pa­ny­ing doc­u­ments must be reviewed and prop­er­ly filed by the banker to ensure that they can be eas­i­ly be recalled.

6. Sell­ing of Finan­cial Instru­ments 

Some bankers may also sell finan­cial instru­ments such as stocks and bonds from time to time. This will depend on the type of finan­cial insti­tu­tion that a banker works at, and whether it is with­in their job descrip­tion and abil­i­ty to do so.

7. Fund Dis­burse­ment 

Bankers must also dis­burse funds time to time to the client and asso­ci­at­ed par­ties. This is done in the instance of bank accounts and loan dis­burse­ment.

The types of dis­burse­ment will vary from cus­tomer to cus­tomer.

Skill Required by a Banker 

Becom­ing a banker is more than study­ing bank­ing and finance as a course and scor­ing good grades.

Man­agers and own­ers of bank recruit mul­ti tal­ent­ed per­sons with both ana­lyt­i­cal and inter­per­son­al skills. The skills and tal­ents dis­cussed below are com­mon­ly required of an intend­ing pro­fes­sion­al banker.

1. Peo­ple’s Skills 

Bankers should be good with peo­ple, he or she must be a team man­ag­er. Being able to pull togeth­er per­sons to make a pre­sen­ta­tion for a client is a chal­lenge.

He or she must be able to relate and cor­re­spond with indi­vid­u­als on a dai­ly or reg­u­lar basis.

2. Analytical/​Mathematical Skill

A banker must need to be extreme­ly ded­i­cat­ed, have good spread­sheet skills and be ana­lyt­i­cal­ly flu­ent.

Besides anyt­i­cal and account­ing skills, math abil­i­ty is a plus. Some jobs in bank­ing call for strong math­e­mat­i­cal pro­fi­cien­cy.

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3. Com­mu­ni­ca­tion Skills 

Lack­ing peo­ple’s skills always slow down bank­ing busi­ness, the banker must be in a posi­tion to read peo­ple as sure­ly as a bal­ance sheet.

He or she must be able to able to com­mu­ni­cate any idea, build deep net­works, and must be per­sua­sive and pas­sion­ate about the work to do it well. Bankers usu­al­ly, com­mu­ni­cate with exter­nal par­ties such as clients, accoun­tants, con­sul­tants, lawyers etc.

Fur­ther­more, many client rep­re­sen­ta­tives tends to be extreme­ly scru­ti­niz­ing, well respect­ed and often short tem­pered, and you’ll need to know how to deal with them in order to get deals or trans­ac­tions con­clud­ed.

4. Cre­ative Abil­i­ty 

A banker must pos­sess cre­ative skills, he or she must be self con­fi­dent

A banker must need self esteem to assess and under­stand the client needs and the cre­ativ­i­ty to find the right solu­tion in order to exceed expec­ta­tions.

5. Busi­ness Understanding/​Sales Skills 

All bankers must be sales peo­ple and as such must be in a good posi­tion to nego­ti­ate with clients and close deals.

In addi­tion, pro­fes­sion­als wish­ing to move beyond mid lev­el posi­tions should under­stand polit­i­cal changes, macro­eco­nom­ic vari­ables, and mar­ket trends as they all effect deal out­comes.

6. Com­put­er Skills 

Computer Skills

Bankers must be com­put­er lit­er­ate, and this includes the fol­low­ing tasks;

  • Open­ing, sav­ing and print­ing files
  • Read­ing and send­ing email mes­sages
  • Using the inter­net to find infor­ma­tion
  • For­mat­ing sim­ple doc­u­ment using Microsoft Word or oth­er word pro­cess­ing soft­ware
  • Cre­at­ing tables and data­bas­es using soft­ware such as Microsoft Word or Microsoft for access or excel
  • Edit­ing dig­i­tal pho­tographs
  • Build­ing basic web pages
  • Pro­fi­cien­cy in bank­ing soft­ware relat­ing to the indus­try

7. Entre­pre­neur­ial Skills 

Start­ing off as an invest­ment banker, a job­ber or a bro­ker in secu­ri­ty or insur­ance busi­ness, finance con­sul­tant, or any oth­er relat­ed busi­ness requires entre­pre­neur­ial skills of ini­tia­tive, cre­ativ­i­ty, and risk man­age­ment.

For Exam­ple;

I once asked my job­less grad­u­ate friend, If i give you $500, can you make out $5000 from it with­ing six months?

He laughs and respond­ed back, do you know what you talk­ing about?. He went fur­ther to say, what is $500. If any­body wants to give me mon­ey, the per­son should talk about $50, 000 so that i can do a rea­son­able busi­ness.

I asked him, how much do you have on your own? He kept qui­et. My inten­tion was to test his entre­pre­neur­ial abil­i­ty which is not main­ly on cash, but cre­ativ­i­ty and abil­i­ty to turn things around even in extreme dif­fi­cul­ty.

Oth­er skills, knowl­edge and per­son­al qual­i­ties required of a banker or a bank work­er include;

  1. Knowl­edge of the prod­ucts and ser­vices offered by the bank
  2. Abil­i­ty to use spe­cial­ized bank­ing com­put­er soft­ware
  3. Cash lend­ing skills
  4. Math­e­mat­i­cal abil­i­ty
  5. Good at cus­tomer ser­vice
  6. Able to work inde­pen­dent­ly
  7. Friend­ly, polite, approach­able and help­ful
  8. Hon­est and reli­able
  9. Quick and method­i­cal
  10. Accu­rate, with an eye for detail
  11. Neat, smart and wel­com­ing
  12. Soft, con­fi­dent and coura­geous
  13. Secu­ri­ty con­scious­ness
  14. Intel­li­gent and goal get­ter

Bankers Core Val­ue 

A banker has numer­ous duties and respon­si­bil­i­ties. A bank offi­cer must elo­quent­ly, polite­ly and cour­te­ous­ly explain con­tract terms, bank ser­vices and prod­ucts to cus­tomers or clients. Because of this, a bank offi­cer must pos­sess and exhib­it some or all core val­ues of a banker and they include the fol­low­ing;

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1. Empa­thy 

The banker must be con­sid­er­ate, and ratio­nal in his or her actions

Bankers must put them­selves in the shoes of the cus­tomer to be able to under­stand the feel­ings, dif­fi­cul­ties and delim­ma of the cus­tomer. Empa­thy means show­ing con­cern and sym­pa­thet­ic to the cus­tomer prob­lems and desire.

2. Fideli­ty 

The banker must make sure that his or her yes is Yes” and no is No”. Nev­er promise what you can­not ful­fill.

Your words must be like a cen­tral bank cheque that does not bounce  Your words must be your bond. Do not com­mit your insti­tu­tion unless you know he/​she can uphold the com­mit­ment to a con­sum­mate posi­tion.

3. Integri­ty 

A banker must always stand for what is right, that is the truth.

He or she must be trust­wor­thy as the integri­ty of the bank work­ers influ­ences the image and rep­u­ta­tion of the bank. A good rep­u­ta­tion is not only a moral respon­si­bil­i­ty but future to build.

As an employ­ee seek­ing a pro­fes­sion­al career in bank­ing, one must sus­tain a good rep­u­ta­tion based on integri­ty.

4. Humil­i­ty 

HHu­mil­i­ty is a virtue which every pro­fes­sion­al banker must pos­sess.

It is a fact that bankers deals with lots of per­sons, low tem­pered or high tem­pered, rich or poor per­sons, lit­er­ate or illit­er­ate per­sons etc, as such the banker must be hum­ble to assure the cus­tomer that he or she is impor­tant to the suc­cess of the bank.

Humil­i­ty is not stu­pid­i­ty or cow­ardice, but a virtue of ser­vice and a a neces­si­ty for suc­cess.

5. Acco­mo­da­tion 

A pro­fes­sion­al banker must be very accom­mo­dat­ing.

He or she must be socia­ble and have a high degree of inter­per­son­al skills. The pro­fes­sion­al banker must be elo­quent in com­mu­ni­ca­tion and be a team play­er.

Bank­ing is about ser­vice and ser­vices effec­tive­ness and effi­cien­cy depends on the accom­mo­dat­ing nature of the play­er.

6. Resilience 

A banker must be per­sis­tent and con­sis­tent. Bankers nev­er quit until they con­sum­mate a deal or con­tract.

Bankers are patient, resilient and exquis­ite in their deal­ings with cus­tomers. They nev­er say die or quit but rather remain per­sis­tent and hum­ble in their actions.

7. Secre­cy 

Bankers keep cus­tomers accounts and main­tain the secre­cy of those accounts.

A bank employ­ee is not expect­ed to release any infor­ma­tion about a cus­tomer’s account or his or her deal­ings with the bank, except through a court order.

Cor­po­rate secrets must remain secret. It is this con­fi­dence that cus­tomers have that courage that makes them to enter into var­i­ous account con­tract with the bank.

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Con­clu­sion 

Before going into bank­ing as a career, you must have all the good attrib­ut­es men­tioned to be suc­cess­ful banker in bank­ing as a pro­fes­sion.

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