How to become a Bank Officer

Bank officers (including building society and credit union officers) receive and pay out money and assist customers with loans, foreign currency exchange and investments.

Personal requirements for a Bank Officer

Good communication and interpersonal skills
Able to make calculations quickly and accurately
Good organisation skills
Willing to transfer to other branches if required

Education & Training for a Bank Officer

You can work as a bank officer without formal qualifications. You will probably get some informal training on-the-job. Entry to this occupation may be improved if you have qualifications. You may like to consider a VET qualification in banking services, financial services, banking services management, accounts administration, accounting or bookkeeping. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information. You can also become a bank officer through a traineeship. Entry requirements may vary, but employers generally require Year 10.Alternatively, you can become a bank officer by completing a business, commerce or economics degree with a major in banking or finance. To get into these courses you usually need to gain your Senior Secondary Certificate of Education. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact the institutions you are interested in for more information.

Additional information

Officers who wish to be considered for promotion are encouraged to undertake further studies and may receive study assistance from their employers to do so.

Duties & Tasks of a Bank Officer

Bank officers:

Identify customer needs and refer customers to appropriate banking services and specialists
Accept money or cheques deposited by customers, verify records and receipts, and credit customers' accounts
Pay money to customers according to advice slips, cheques or negotiable documents, and debit customers' accounts
Assess the viability and credit risk of business and consumer loan proposals
Conduct foreign currency transactions for overseas travellers
Provide change and cash cheques
Record transactions
Balance cash and advise supervisors of cash position or discrepancies
Answer customer enquiries
Open and close accounts for customers.

Tasks

Balancing cash and advising supervisors of cash position and discrepancies
Opening and closing accounts for customers
Ensuring customers' forms are filled in correctly and checking customers' identification
Accepting cash and cheques deposited by customers, verifying records and receipts, and crediting customers' accounts
Explaining and promoting bank services to customers and referring them to appropriate financial services
Greeting customers, identifying their needs and answering customer inquiries
Paying money to customers according to advice slips, cheques and negotiable documents, and debiting customers' accounts
Providing change, cashing cheques and recording transactions

Working conditions for a Bank Officer

Most bank employees work in a branch network where customers are mainly individuals and local businesses. Bank officers can request transfers to work in other branches and departments.

Employment Opportunities for a Bank Officer

Bank, building society and credit union officers are employed in a variety of financial institutions, including merchant banks, finance companies, insurance companies and stockbroking firms. The banking and financial industries are currently undergoing rapid change. Branch closures and the introduction of new technology and new ways of conducting banking business are affecting employment demand. The banking industry periodically reduces its workforce. Competition is strong for entry-level vacancies. Contact individual financial institutions for recruitment information.There are many different career paths available. Staff transfers are an important part of the banking industry and, throughout their careers, officers may be required to serve in a number of locations. Transfers within a metropolitan area can be required and may include working in administrative departments as well as branch offices. Transfers to regional locations are not usually required. However, accepting a transfer can assist career advancement and promotion opportunities.

Specializations

They may specialise in areas such as export financing, international banking, superannuation, personnel administration, law, economics, accountancy, corporate and commercial lending, public relations, advertising or information systems.

Bank Teller/Customer Service Officer

A bank teller/customer service officer sells and administers bank products and services, handles cash and processes personal and business credit cards, overdraft and personal loan applications.

International/Overseas Officer

An international/overseas officer deals with international finance enquiries and transactions for customers, including documentation for importing and exporting.

Credit Officer (Lending/Loans Officer)

A credit officer (lending/loans officer) assesses the viability and credit risk of business and consumer loan proposals, and controls and processes accounts.

Operations/Accounts Officer

An operations/accounts officer performs clerical duties such as opening and sorting mail, filing correspondence and documents, recording items paid to and cashed by the tellers, and processing and updating daily transactions.

Telephone Consultant (Banking)

A telephone consultant (banking) assists customers with banking requirements over the telephone, sells bank products and services, and assists customers with loan applications.

Bank Officer