Jobs in the Banking sector
Career in Banking
The banking sector in India has and always will be one of the most trustworthy sectors in terms of job security. It has withstood the test of time and will continue to do so. The banking industry has been largely overlooked in many regions of India due to the emphasis placed on IT industries. Nonetheless, the financial sector is nowhere close to stagnation. In fact, it has grown to produce numerous jobs in the banking sector.
The banking sector has many departments that provide a variety of job opportunities depending on your educational qualification and age criteria. Most bank jobs require accounts or finance-related degree. It is also mandatory to clear banking examinations to qualify for a fulltime position at a bank.
India has a very large number of private and government banks. Some of the most popular banks are Axis, SBI, ICICI, Citi, Standard Chartered Bank, Kotak Mahindra, HSBC, HDFC, Canara Bank, Bank of Maharashtra, Allahabad Bank, and Punjab National Bank.
Major Examination for a Career in Banking Sector:
1. IBPS Examination: The IBPS is the only Government organization that conducts a common banking examination in India. This examination is solely for candidates applying for a government bank job. There are variations in the exams depending on the post and designation you are seeking.
2. Private Examinations: Unlike the IBPS examination, private banks do not have a common entrance examination. Each Private bank introduces a vacancy notice on their website and circulates that notice in the various newspaper as well. Therefore, it is important for candidates to keep themselves updated with the latest private bank news. Openings for private banking job opportunities can be found online and in leading magazines and newspapers.
Some of the most popular jobs in Banking Sector are as follow:
1. Bank Clerk/Cashier: This is an entry-level position in the banking line. A bank clerk has a number of roles and responsibilities such as sending emails, receiving phone calls, sorting e-mails, processing various data, handling customers, cashing cheques, updating account details, processing payments, issuing statements and running errands. IBPS conducts a Clerk examination every year to recruit candidates for a clerk job profile in Government Banks. Applicants who are looking for a career in the banking sector after Graduation should prepare for this examination.
Qualification Required for Clerk Posts: In order to qualify for the position of a clerk, one must have a Graduation degree in any field. The applicant should be able to speak English and the local language of the state in which she/he is applying for the banking job. Computer knowledge is mandatory for this banking job. A diploma certification in a computer language or a computer application is a bonus. The IBPS Clerk examination is required to be completed in order to get a bank job as a clerk.
Age Limit: (The Age limit also depends upon the Advertisement Notice): Currently, the following age limit is required for various casts:
· General Category – 20 to 28 years
· OBC Category – 20 to 31 years
· ST/SC Category – 20 to 33 years
· Disabled Category – 20 – 38 years
2. Bank Probationary Officer: A probationary officer is the most sought out entry-level bank job position. A probationary officer is a regular bank officer under probation. Once the duration of the probation is completed, the PO could get promoted to the position of a Manager or Assistant Manager. A Bank PO would have to gain work experience in almost every banking-related department during the probationary tenure. Some of the job responsibilities of a probationary officer are customer handling and service, cash handling, internet banking, and handling the financial aspects of the loan department.
Qualification: The minimum qualification for the role of a PO is a degree certification from any stream. Successful completion of the IBPS PO examination is mandatory to choose this banking career option.
Age Limit: The age limit for qualifying for the PO examination is between 20-30 years.
3. Accountant: Due to the large amount of accounting and auditing work, jobs for accountants in banks are widely available. Accounting jobs in banks pay well. Jobs for Accountants are available for the positions of a bookkeeper, auditor, payroll accountant, chartered accountant and tax specialist.
Qualification: A degree in a commerce or finance related stream is required. The candidate can qualify for the job only after the successful completion of the IBPS SO/PO examination.
4. Bank IBPS SO: IBPS SO is the specialized version of IBPS PO. There is not much difference between the examinations. However, specialized officers are only dedicated to a particular banking department and job profile. Jobs for Bank SOs are in demand. Candidates who successfully get through the IBPS SO examination have multiple job positions to choose from.
· IT Officer: An IT Officer holds key positions in the IT-related department of banks. The main job responsibility is to control, manage, and optimize a number of banking tasks. They include processing various sorts of queries, maintaining software’s and supporting data centres.
Some of the other bank positions for specialized officers are:
· Law Officer
· Agricultural Field Officer
· HR officer
· Marketing Officer.
Qualification: The minimum qualification required is graduation. The successful completion of the IBPS SO examination is mandatory for a government bank job.
5. Bank Manager: A bank manager’s job is to make sure that the bank functions smoothly. The bank manager has to ensure that all customer issues are resolved. It is also a very important task to make sure that the bank is hitting all its targets. Maintaining very high standards for the bank branch is another major part of the job.
Qualification: The minimum qualification for a bank manager job is an account or finance-related degree. One can only become a bank manager after completing the IBPS PO examination and successfully seeing through the probationary period.
Due to the number of banks in the country, there are many bank job opportunities at banks for the taking. However, attaining a career in banking is not easy. Many candidates write the IBPS examination every year out of them only a few thousand qualify the examination. It is important to focus on one’s career from an early age in order to rise above the competition. There are many jobs in banking sector but you have to full fill all the norms and requirements for the particular job profile.