Probationary Officer (PO)/Management Trainee (MT)
A Probationary officer (PO) or a Management Trainee (MT) is the first level to enter the banking world. He or she reports to immediate seniors who evaluate his performance in the tasks assigned to him. Initially, a Probationary Officer can be assigned any work from a wide gamut of ongoing banking activities. Normally the probation period is of two years in which the officer is exposed to different types of banking related works. In some banks, the duration may be limited to one year.
The officers or trainees may undergo frequent transfers or deputations during the probation period. Once the probation period is completed the officer is confirmed as an Assistant Manager and gets his or her permanent posting. Some banks are now placing officers as Deputy Managers also, just after confirmation, provided they pass the test conducted by the bank. For example: State Bank of India condutcs a confirmation exam. If a probationary offcer passes the exam, he is confirmed as an Assistant Manager. In fact, the State Bank of India even gives a chance for promotion to Scale II to candidates who perform exceptionally well in the exam.
After confirmation officers can be posted in specific areas of banking. Iitially, they may be assigned customer handling tasks such as passing a cheque, cash management, or issuing drafts. The person may be shifted to other departments subsequently.
A Probationary Officer can reach up to the level of Chairman of a bank. One shining example of such a growth is Chanda Kochhar. She started her career as a as a Management Trainee with ICICI bank in 1984 and rose to the position of Managing Director (MD) and Chief Executive Officer (CEO).
A Specialist Officer in a bank is appointed for specialized roled in various departments, according to their expertese and educational background. Some of the Specialist Officer Positions in Banks are:
- Information Technology Officer
- Agriculture Field Officer
- Rajbhasha Adhikari
- Law Officer
- Technical Officer
- HR/Personnel Officer
- Marketing Officer
A Credit officer, also referred to as loan officer, facilitates lending from financial institutions to individuals and businesses. Credit officers are responsible for assessing and verifying the client's financial information and helping the client get through the often complex loan process. For job opening in various officer categories, also look under Specialist Officer Job Profile or search in Notifications section.
A Law Officer deals with legal issues received from various departments of the Bank and its associate institutions, which are mainly related to the interpretation of various statutes.
He/she is also responsible for:
- Preparing initial drafts of legislation administered/to be administered by the Bank
- Preparation of drafts of pleadings and comprehensive instructions/briefs to counsel in connection with litigation involving the Bank and its associate institutions
- Appearing before Conciliation Officers, Labour courts, Tribunals, etc. on behalf of the Bank.
Essential Educational Qualification: Bachelor's Degree in Law recognized by the Bar Council of India for the purpose of enrolment as an Advocate with a minimum of 50% marks or equivalent.
An Agricultural Officer is responsible for promoting loans in rural areas related to general and agricultural purposes under the various schemes framed by government and other financial institutions. The officer needs to maintain a good professional relationship with farmers to for lead generation, client acquisition, site visit before the loan sanctioning, and follow-up for timely loan recovery.
Essential Educational Qualification: A Degree in Agriculture/ Horticulture/ Animal Husbandry/ Veterinary Science/ Dairy Science/ Agriculture Engineering/ Fishery Science/ Pisciculture/ Agricultural Marketing & Cooperation from recognized university.
Foreign Exchange Officer
A Foreign Exchange Officer, or Forex Dealer invests a corporation's funds on currencies markets with a profit motive or as part of a risk management (hedging) strategy. No formal education is needed to trade on foreign currency markets. However, most firms, especially financial institutions such as banks, insurance companies and hedge funds, require a four-year college degree for a junior Forex trader position. A senior Forex dealer usually has a master's degree in a finance-related field.
Presently some of the functions are as follows:
- Guidelines and Rules for Forex Business.
- Training of Bank Personnel in the areas of Foreign Exchange Business.
- Accreditation of Forex Brokers
- Advising/Assisting member banks in settling issues/matters in their dealings.
- Represent member banks on Government/Reserve Bank of India/Other Bodies.
- Announcement of daily and periodical rates to member banks.
Information Technology (IT) Officer
Information Technology (IT) Officers are required by almost every bank in order to take care of its software systems. IT Officers look into maintenance of servers, database and other networking aspects.
Essential Educational Qualification: Degree in Computer Science/ Computer Applications/ Information Technology/ Electronics/ Electronics & Telecommunications/ Electronics & Communication/ Electronics & Instrumentation from a recognized university or institution.
Personnel Manager/HR Officer
A Personnel Manager handles the entire gamut of HR functions like Compensation policy, Industrial Relations, Statutory Compliances, Performance Management System, Training and Development, Staff Welfare and other relevant aspects of Human Resource Management.
A Marketing Officer is responsible for the coordination of all marketing and social media and networking activities of the Bank. He/ She develops various marketing concepts, objectives, materials, advertisements, programs, press releases, and other special events approved by Senior Management and the Board of Directors. He/ She provides guidance and coordinates implementation efforts with respect to the installation of new or existing products and services.
The Marketing Officer is also responsible for being the primary contact of public relations and media contacts, advertising, and certain business development activities that promote the spirit, philosophy, dedication, and general direction of the Bank.
Essential Educational Qualifications: MBA (Marketing) / 2 years PGDBA / PGDBM or any other equivalent degree or diploma with specialization in Marketing from a recognized University/ Institution.
A Technical Officer acts as a supervisor, consultant, and in charge of issues pertaining his/her field of technical expertise. For example a Civil Engineer working within Housing Finance division may be required to manage Surveying, Property valuation, Project appraisal, Quantity survey, Estimation and Costing.
Essential Educational Requirement: Degree in Engineering in Civil/ Electrical/ Mechanical/ Production/ Metallurgy/ Electronics/ Electronics & Telecommunication/ Computer Science/ Information Technology/ Textile/ Chemical/ Pharmaceuticals or any other engineering/technical field as required for the Job Profile.
An Assistant Manager is someone whose role would be to help oversee the running of an entire branch, or a number of small branches. Every Manager needs a strong team behind them, and an Assistant Manager would be their first point of contact. Assistant Manager would have to, on a daily basis, motivate and encourage staff to keep the branch/branches running smoothly and meeting targets.
On top of working with staff, assistant manager would be looking after business and individual customer accounts. It's his job to keep all regulations and policies in order and maintain good customer relationships. He'd also be one of the first ports of call for customer disputes and would have to answer a number of more complex queries. Marketing also plays a part in his role. Assistant manager would be responsible for helping to bring in new customers and boosting the bank's profits.
A Chartered Accountant is involved in financial reporting, taxation, auditing, forensic accounting, corporate finance, business recovery and insolvency, or accounting systems and processes. Generally, they play a strategic role by providing professional advice, aiming to maximise profitability on behalf of their client or employer.
Their typical work activities involve:
- liaising with internal and external auditors and dealing with any financial irregularities as they arise;
- producing reports and recommendations following internal audits or public-sector audits;
- preparing financial statements, including monthly and annual accounts;
- preparing financial management reports, including financial planning and forecasting;
- advising on tax and treasury issues;
- negotiating terms with suppliers.
A Rajbhasha Adhikari is in charge of translation of official documents in English (or any other regional language) into Rajbhasha, that is, Hindi.
Essential Educational Requirement: A minimum 2nd class post Graduate Degree in Hindi with English as a subject in degree level OR a post graduate degree in Sanskrit with English and Hindi as a subject in degree level. For translation job from a language other than English, that particular language should be a part of the graduate/ postgraduate curriculum.
A banking officer oversees many aspects of a retail banking environment. General duties include monitoring the operations for correct accounting procedures, approving loan packages, and developing relationships with banking customers. Generally a Probationary Officer or a Management Trainee takes the role of an Officer / Manager after the end of his/her Probation/Training Period. Apart from General Banking Officers, Officers can be classified under various specialzed categories - Credit, Loan, Agriculture, Law, IT, Marketing, and HR Officers.
Customer Relationship Executive
A Customer Relationship Executive or a CRE has the main duty to handle the customer complaints and proactively provide a resolution. If need arises he has to escalate the complaints to his superiors. He is responsible to handle customer queries using the bank’s standard guidelines. A Customer Relationship Executive is required to maintain the coordination and a strong working relationship with external and internal customers, colleagues, and customer service management. A CRE might also have a set sales target which he has to achieve within a given period of time.
A bank clerk, also called a teller, is a financial service professional. He/she serves as the primary point of contact for most bank customers, administering basic banking transactions and answering most questions. This role is seen as an entry level position.
An Office Assistant assists the staff as needed in doing duties like research work, typing, correspondence, faxes and filing. The duties of the Office Assistant are varied and he/she normally reports to the Business Manager for the different specific job functions that are needed to be done. Every Office Assistant needs direction in order to complete daily functions, however, there are certain tasks that he/she completes on a daily basis without any directions. Running errands, taking care of the mail, daily database are some of the common functions of an Office Assistant done on a regular basis.
An Agricultural Assistant assists the Agricultural Officer in promoting loans in rural areas related to general and agricultural purposes under the various schemes framed by government and other financial institutions. He/ She assists in client acquisition, site visit before the loan sanctioning and follow-up for timely loan recovery.
Essential Educational Qualification: A Degree from Indian Agriculture College or University.