Newspaper article Evening Gazette (Middlesbrough, England)

Money Matters

Newspaper article Evening Gazette (Middlesbrough, England)

Money Matters

Article excerpt

B is for bank manager

Sometimes portrayed as a daunting figure, the bank manager is responsible for a wide range of functions ensuring the smooth and successful running of his or her bank.

And despite the cliched "fearsome" bank manager caricature, possibly the most important role a manager plays is maintaining positive relationships with the bank's clients.

A bank manager's overall role is to control the day-to-day running of either a single bank branch or a number of branches.

He or she is also responsible for planning an effective sales strategy and monitoring the progress of new and existing financial products.

Banks and building societies operate in a fiercely competitive marketplace where change is common. The products and services that they offer have become more diverse and complex to satisfy the increasing demands of customers.

A bank manager may work from one major branch location or have a regional base that includes a number of smaller outlets.

Typical work will vary according to the size and number of branches but will include motivating employees to effectively carry out their day-to-day tasks.

A manager must also understand the products and services offered by its bank and its competitors.

They are also in charge of all branch expenditure on products and services, such as the administration of consumer lending, current account transactions, unsecured loans, overdrafts, credit cards and personal loans.

Bank managers should establish and maintain relationships with new and existing customers while also representing the bank in the wider community.

They should also define and implement the delivery of sales strategies and targets and assess the professional development of their staff.

Starting salaries for new entrants to graduate management trainee programmes range from pounds 18,500 to pounds 24,500.

Expected salaries after one year's experience range from pounds 25,000 to pounds 28,000 and typical salaries at senior level range from pounds 40,000 to pounds 100,000.

Working hours are generally nine to five although longer hours may need to be worked when required.

Conditions are good, working in modern offices, and job opportunities exist in most towns and cities, however competition for City jobs is fierce. …

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