Banking, Credit, and Other Investment Managers

Nature of work

Banking, credit and other investment managers plan, organize, direct, control and evaluate the activities of financial organizations or operational departments, or credit departments in commercial businesses. They oversee business development and manage overall performance in line with strategic directions and policies. Banking managers work for banks, trust companies and credit unions. Credit managers work for credit departments in department stores, utility companies, car dealerships, insurance companies or other commercial organizations. Other investment managers work for credit card companies, consumer loan companies, mutual fund investment firms, mortgage investment companies or other financial businesses that extend loans and financing and investments.

Job duties

Banking managers:

• Manage the branch operations of a bank, trust company, credit union or similar financial institution or of a department in a business responsible for administering personal and business loans, buying and selling securities, operating investment funds, administering trusts, settling estates or other related activities.
• Make sure the company's policies and procedures are followed according to guidelines and make recommendations for improvement.
• Network to develop business relations, promote the sale of loan, investment and other banking services and attract business and individual customers.
• Interview business and individual customers and respond to customer questions.
• Approve or reject loan and credit applications based on authorized limits.
• Monitor processing of loan applications and credit investigations.
• Oversee preparation of monthly financial and branch progress reports.
• Hire staff and identify their training needs.

Credit managers:

• Manage the activities of a credit department in an industrial or commercial organization.
• Administer corporate, commercial and personal loan accounts.
• Advise customers on the commercial and personal financial services related to their needs.
• Evaluate loan and credit applications and collateral and make recommendations.
• Approve or reject credit applications, establish credit limits and determine repayment plans or schedules according to authorized limits.
• Make sure overdue or delinquent accounts are paid.
• Make sure credit policies and procedures are followed according to guidelines and legislation.
• Prepare credit and loan reports.
• Hire credit staff and identify their training needs.

Sample job titles

• bank manager
• collection centre manager
• commercial banking manager
• corporate banking centre manager
• corporate services manager - banking, credit and investment
• credit card centre manager
• credit manager
• credit union manager
• mortgage and customer credit manager
• personal services manager - banking, credit and investment
• trust company manager

Skills

• You need strong leadership qualities and an ability to motivate others. You need excellent organizational, problem-solving, planning, and decision-making skills. You must have confidence and initiative, and you need excellent communication and interpersonal skills.

Job requirements

• A university degree or college diploma in business administration, commerce, economics or a related field.
• A master's degree in business administration, finance or management science may be required for the management of large commercial loans.
• Completion of company or other management training programs is usually necessary.
• Several years of experience within the industry, including supervisory experience, are required.

Other considerations

• Movement to senior management positions is possible with experience.

No regulating bodies were found under this occupation profile

Contacts

There are no additional resources for this occupation.