10Jul
Just like any other commercial institutions, banks cater to products or services that are required by the public which in the case of banks is money. Money or currencies are sold by banks by way of loans, CDs (Certificate of Deposits) and other similar financial service. Profits made by banking institutions are referred to as interests which are made through the charges added on loans (these interests are higher than the interests they pay out to depositors) and other banking products.
Rate of interest imposed by banking institutions to its borrowers depend largely on the number of people borrowing and the amount that is being loaned. Banks are basically taking a risk when lending money because there is always the danger of not recovering the investment so in order to offset this; they usually give higher interest rates to high risk groups. Banking fees although generating smaller income than interest rates are also another way for banks to generate income.
10May
Video Resume is the latest innovation that allows a person to present himself to prospective employers looking for employees to handle vacant positions in a company. Job seekers that range widely in age and career background, from a college student to a mid-career professional find this very helpful as according to a recent Vault survey, 89% of employers are interested in viewing video resumes. Video resumes allows prospective employers to see the kind of person they can possibly hire, not just on papers but on a video which gives them an opportunity to initially evaluate their qualification. A video resume is the next step, a new and different way to present yourself, to stand out.
10Apr
An Investment banker analyst handles requests by others in the firm, asking for case studies, connections with certain personnel at client firms, etc. The task is to fill out the series of forms that will be submitted to one committee after another for review. Essentially, every form looks the same and involves a “company overview” for evaluation. Other tasks involves putting together a set of trading/transaction comparables, do extra research, fetch a few industry reports, download files accessible to everyone on the Internet, make printouts, put together working group lists for deal teams on a transaction, etc. Sometimes, he help out other analysts calling for some files or work you’ve done on something so they don’t have to start from scratch on their related project.
10Mar
A personal banking officer is a member of a a bank’s retail branch sales team, whose responsibility is to contribute to the team’s overall success by meeting negotiated personal sales and sales activity goals through the identification and satisfaction of customer needs. He is also be responsible for delivering excellent customer service and selling a full range of customized financial solutions to new customers as well as a number of existing Branch customers. He must be a strong relationship builder and communicator; with a thorough knowledge of solicitation, telemarketing and negotiating techniques. Must be highly organized and results oriented with demonstrated flexibility in adapting to a constantly changing environment.
10Feb
The term Bank Run usually describes an event wherein many depositors simultaneously withdraw their money immediately for fear that the bank is no longer capable of paying off their accounts in full and in the proper time. The problem exists because banks do not normally keep huge portions of the money on hand and are usually invested in form of lending and interest bearing assets that allows them to cover interests on depositor’s accounts.
As a Bank Manager or Bank Owner, the key to overcoming a Bank Run is to be able to efficiently and quickly generate liquid assets that can respond to the depositor’s needs. Being able to accomplish this can also translate into a renewed confidence from other investors and stop the Bank Run. That is why part of a Bank Manager’s responsibility is to ensure continued confidence from depositors and investors to their institution. Banking institutions that are hit with Bank Runs are usually those with problems of solvency.
24Dec
Categories: General, Guide
by: Larla
To land that dream banking and finance job, a successful cover letter is also very important.
Keep it short and concise,
Indicate your correct and full contact details
Always put the position applied in the subject line so potential employers know immediately what post you are applying for.
Focus on your experience and knowledge that makes you qualify for the job and what you can contribute to the company. Also, inform that your CV is attached for more detailed job description.
Thank the reader for their time and always save a copy of your cover letter do you would have a reference when you will be called for an interview.
30Nov
by: Larla
A career in Finance is not for everybody. Usually it is for people with a knack for numbers and details. Also, an analytical mind.
The first sector in finance that is usually easy to get into is the commercial banking business.
The entry level post is that of a bank teller. From there you can network your way and can move to other opportunities like leasing, investment, financial advising etc.
In the corporate world, you can try to be a Financial Officer. Instead of handling finances of several clients at a time, you are handling the finances of the company.
There is also a Financial Planner, who plans future finances of the corporation. In this career a good foresight and visualization is important.
Whatever job in finance you intend to have, as long as you are happy and you are doing what you love, that is what matters. You can apply for a higher post job once you gain the required knowledge and skills and you can work your way to the top.
28Jun
Customer Assistance Account Agents is a position that requires strong customer service skills and negotiation abilities. Managing a high volume of phone inquiries with minimum supervision while displaying patience, sound judgment and professionalism under pressure are some of the qualifications of a person who will be successful in this field. They review delinquent and past-due accounts, provides assistance information and advice on requests received by phone, making payment arrangements for customers and maintaining strong customer relationships. This position is synonymous to a customer service representative but the difference is, the position requires some financial expertise and analytical ability . A positive attitude interacting with people is very helpful.
29May
by: Larla
There are many areas in the Banking Industry. You can have a job at a large commercial bank, local bank, savings or online bank.
Bank Tellers are the most common of the banking jobs. Now, they are also trained into marketing bank products like loans, credit cards to their clients while doing their usual duties.
Customer Service Representatives are the one’s who help customers if they have any queries regarding the bank. They have the knowledge in the products that the bank offers. Also, complaints go through them. They handle clients through phone or email.
Loan Officers is where you submit loan applications and they are the one who review the application. They help clients complete loam application forms and also sell these products.
Clerks/ Admin Assistant help in the day to day clerical duty like data encoding and may work as receptionist.
Financial Manager, supervise the day to day operations of the bank branch. If there are queries that employees cannot answer, customers are usually asked to speak to them instead.
01Apr
Finance Minister Dwight Duncan is banking on growth in the financial services industry to help Ontario weather any looming economic storm. The morning after unveiling the province’s $96.2 billion budget Duncan took his message to Bay Street, telling a predominantly business audience that he wants Ontarians to celebrate banks.
This was his message: “It’s growing (and) … one of the reasons our revenues have been robust is because of the successful performance of the financial services sector. We have to do everything we can to promote those sectors that will benefit the province, create jobs and investments.â€
