Different Posts Available in Banking Sector 2020
- Different Posts in Banking Sector & Salary 2020
- List of Different Posts in Banking Sector
- Roles & Responsibilities in Public Sector Bank
- List of Bank Job Titles from A to Z
- IBPS PO Post in Banking
- SBI PO Job Profile
- IBPS SO Job Profile
- SBI SO Job Profile
- SBI Clerk Job Profile
- IBPS Clerk Job Profile
- Hierarchy Structure in Private Sector Banks
- IBPS Clerk Job Profile
Different Posts in Banking Sector – Get details of various job profiles available in the Banking sector – Public and Private sector bank posts
Different Posts in Banking Sector & Salary 2020
Banking is a very lucrative sector and banking jobs are today among the most sought-after jobs by youth and even several students opt to study Banking oriented courses. There are different types of banks in India. Banking job provides good pay and perks. It also provides rapid growth and job satisfaction. Read About SBI PO vs IBPS PO Bank Employee post has Four Cadres in Public and Private Sector Bank The bank employee post has four cadres in both the public and private sector bank which are as follows:
List of Different Posts in Banking Sector
The list below consists of exams that you should apply as these are the most sought and most significant job profiles in the Banking Sector and you should definitely know about these exams in detail.Now, let us go through the list below —
|List of Different Posts in Banking Sector||Salary||Exam||Notification|
|IBPS PO Post||Rs. 23,700 Basic Pay||IBPS PO Exam||IBPS PO Notification 2020|
|SBI PO Post||Rs. 27,620 Basic Pay||SBI PO Exam||SBI PO Notification 2020|
|IBPS SO Post||Rs.23,000-Rs. 42,000||IBPS SO Exam||IBPS SO Notification 2020|
|SBI SO Post||Rs.23,700 Basic Pay||SBI SO Exam||SBI SO Notification 2020|
|SBI Clerk Post||Rs.11,765 Basic Pay||SBI Clerk Exam||SBI Clerk Notification 2020|
|IBPS Clerk Post||Rs.11,765 Basic Pay||IBPS Clerk Exam||IBPS Clerk Notification 2020|
Different Organizations that conduct Banking Exam The following is the list of banks that conduct Banking Exam every year: IBPS (Institute of Banking and Personnel Selection), SBI, RBI, India Post – India Payments Bank, Manipal Global Education Services, SIDBI or (Small Industries Development Bank of India) Know More About SBI PO
The following-mentioned are those banks that are in the participation of the banks which conduct banking exams every year.Check the list below to know about the participating Banks-
|Allahabad Bank||IDBI Bank|
|Andhra Bank||Indian Overseas Bank|
|Bank of Baroda||Oriental Bank of Commerce|
|Bank of India||Punjab National Bank|
|Bank of Maharashtra||Punjab and Sind Bank|
|Canara Bank||Syndicate Bank|
|Central Bank of India||UCO Bank|
|Corporation Bank||Union Bank of India|
|Dena Bank||United Bank of India|
|Indian Bank||Vijaya Bank|
Read About SBI PO Notification
Roles & Responsibilities in Public Sector Bank
Given below are the roles and responsibilities of various posts available in Public Sector banks:
Clerk: Job Role and Responsibilities
- Clerical jobs in a bank are the starting point for a career in banking.
- Clerks are assigned duty such as interacting with customers, maintaining an account, creating reports.
- In government banks, clerks are seen in the cash counter handling day-to-day transactions of customers.
Probationary Officer: Job Role and Responsibilities
- Candidates with a degree are considered eligible for PO position.
- There are several people who joined as PO and scaled to the ranks of MD or CEO.
- A probationary officer is ranked above the clerk and enjoy higher pay grade and salary as well.
- Clerks too can become PO through internal promotions.
Specialist Officer: Job Profile and Responsibilities
- Specialist Officers work in specific departments like engineering, systems, marketing, management, public relations, and they are important.
- Specialist officers may work in the loans department where they assess and analyse the capacity of those who apply for loans.
- These officers may sanction loans to the based on their financial capacity to repay loans and their past records.
- For example, Specialist officers with an engineering background may also be recruited into the IT department to take care of the technology assets of the organisation.
- Usually, candidates from professional courses or specialized courses are preferred for this position.
- Agriculture Officer (as Part of SO): Agriculture officers may have to give loans to farmers. They work on agricultural loans and help people from rural areas. Candidates with a background in agriculture, veterinary science and horticulture are preferred for this post.
Manager / Asst. Manager: Job Profile and Responsibilities
- Candidates with an MBA degree are preferred.
- These candidates should also possess minimum work experience of 3-5 years of work experience.
- Becoming a manager is quite difficult especially in Public sector banks as a lot of experience will be preferred.
- Becoming Branch Manager is relatively difficult just like becoming a zonal manager is even more difficult.
- In Private sector banks, the hierarchy is very different.
- A lot of experience in the private sector especially in the banking sector will carry a lot of value.
Internal bank auditor
- The job of an auditor is to make sure that all the accounts and checks balance and match.
- It is a rather fundamental task and in case of most organisations or institutions, external auditors are sent to check whether or not all the paperwork for that organisation is in order.
- Every organisation thus needs to have an internal auditor as well who will manage all the affairs and this is the task of an internal bank auditor.
- It is one of the most prestigious Job Positions In Bank that offers great pay scale.
- Each branch has its own operational mechanism which needs to be supervised and maintained by someone.
- The Branch Manager is responsible for handling all the situation in the Bank.
Marketing Representative of the Bank
- Every bank wants to increase its customer base. More the number of customers with accounts more is the credibility enjoyed by the bank.
- This is what this position of all the Job Positions In Bank entails.
- it is the job of the marketing representative to make these schemes saleable.
- They need to explain to a potential customer why it is important to go for an investment plan or open an account and how it will benefit them.
- When we go to a bank, we will always approach the bank teller first. It is the job of a bank teller to reach out to the customers.
- It is very important that the tellers are friendly and can patiently hear out all the queries that a customer might be having.
- The bank Teller also needs to take care of the accounts of the account holders, deposit cash in accounts they are meant for, give cash after verifying the details of the account holder, creating challans and demand drafts and taking care of the basic customer requirements.
DPO or the Data Processing Officer
- It is the job of the DPO to make sure that all the systems of the bank are updated and in order at the end of the day.
- It is also their job to look after the technical side of data entering, updating the internet banking system etc.
- There may be one or many DPOs working under a particular person with a structured plan in hand.
- This is another really important one of all the Job Positions In Bank.
- Many account holders often request for different kinds of loans to a bank, for personal reasons, for housing, for cars etc. It is the job of the loan officer to either sanction or rejects these loan applications.
- The loan officers have to run a background check on the applicant and go through their accounts to understand whether or not the applicant will be able to pay their loan in time based on which they will allow the loans.
- Loans are important sources of money generation for a bank because of the interest rate that is paid along with the loan.
List of Bank Job Titles from A to Z
Here is the list of Bank Jobs across India in different banks.
- Agricultural Lender
- Analyst, Bankruptcy Support
- Anti-Money Laundering Auditor
- Assistant Branch Manager
- Assistant Trust Administrator
- Audit Manager
- Bank Examiner
- Bankruptcy/Foreclosure Coordinator
- Bilingual Client Services Representative
- Branch Manager
- Business Banking Loan Administration Manager
- Business Banking Officer
- Business Intelligence Manager
- Client Service Manager
- Commercial Relationship Management Assistant
- Common Trust Fund Accountant
- Consumer Credit Analyst
- Consumer Finance Assistant Manager
- Consumer Loans Processor
- Consumer Loan Underwriter
- Custody Investment Specialist
- Customer Service Representative
- Default Specialist
- Escrow Manager
- eServices Quality Analyst
- Head Teller
- Internal Auditor
- Investment Accounting Analyst
- Investment Management Operations Analyst
- Investment Management Specialist
- Investment Planner
- Junior Analyst – Asset Management
- Lead Business Consultant, Banking Innovation Center
- Lead Syndication Specialist
- Lending Manager
- Loan Officer Trainee
- Loan Representative
- Loan Support Specialist
- Lock Box Clerk
- Loss Recovery Manager
- Mortgage Consultant
- Mortgage Operations Support Technician
- New Accounts Banker
- Online Customer Service Representative
- Origination Loan Officer
- Personal Banker
- Phone Banker
- Premier Banker
- Regulatory Compliance Analyst
- Relationship Manager, Commercial Lending
- Senior Financial Analyst
- Senior Investment Analyst
- Senior Teller
- Senior Trust Consultant
- Technology Risk Manager
- Trust Asset Manager
- Trust Assistant
- Wire Department Manager
IBPS PO Post in Banking
The job of a bank probationary officer (PO) is said to be as a stable career option and kind of a white collar job. Every year, lacs of candidates appear for PO exams. The job proffers a prestigious career growth and possibilities for a bright future in banking. A lot of students want to be aware of the duties of a bank PO, what kind of job they do once they are selected in banks.Go through the IBPS Calendar 2020 to know the important dates and more.
|IBPS PO Notification 2019-20: An Overview|
|Exam Name||IBPS PO 2019-20 – Common Recruitment Process (CRP PO/MT-VIII)|
|Conducting Authority||Institute of Banking Personnel Selection (IBPS)|
|Name of Post||IBPS Probationary Officers / Management Trainees (Junior Management Grade – Scale I)|
|Participating Organizations||Public Sector Banks in India except for the State Bank of India (SBI) and its Associate Banks|
|Number of Vacancies||4102|
|Number of Stages||Three – Prelims, Mains, and Interview|
Check IBPS PO Exam Dates
Responsibilities of an IBPS PO
The candidates who are planning to appear for the IBPS PO exam must read the following explanation to understand what kind of responsibilities come under this post: IBPS PO Vacancy Detailed
- There is a probation period of 2 years
- There could be any work related to banking for a PO
- The probation period is for lengthened training so that the candidates can understand their duties properly
- The candidate must have a firm knowledge of finance, accounting, marketing, billing as well as investment
- Once the probation is over, the individual can be posted as Assistant Bank Manager to handle work
- The individual will handle the work related to people’s bank accounts, cheques, draft insurance etc
- They also have to handle the cash flow, mortgages etc
- Moreover, there are many customer queries and complaints that a PO will handle
- If the candidate is observed to be really responsible and professional, they will be given more duties like planning and budgeting etc
- Also, a PO will take care of transactions taking place
- Even more, they will handle the loan related documents and work related to Loans
Check: IBPS PO Application Form There is excellent growth for this position. It all depends on how a person handles his job.
IBPS PO Salary
The Basic IBPS PO Salary is Rs.23700-(980×7)-30560-(1145×2)-32850-(1310×7)-42020 This means upon joining, the Probationary Officers will be getting a Basic Salary of Rs.23700. Also, there will be additional benefits and allowances. The POs will also get an annual increment of Rs.980 for 7 years. That is: Basic Pay after 7 years – Rs 30560 Basic Pay after 2 more years – Rs 32850 Basic Pay after 7 more years – Rs 42020
IBPS PO Salary: Allowances
The candidates can check the following table to know what kind of allowances Probationary Officer gets:
|IBPS PO Salary: Allowances|
|Dearness Allowance (DA)||Revised quarterly based on the CPI, the DA forms around 40 per cent of the Basic Pay. It is to be noted that since DA depends upon CPI, it can increase or decrease based on the inflation rates.|
|House Rent Allowance (HRA)||This depends upon the location of posting of the Probationary Officers. Based on whether they are posted in metropolitan cities, big cities or other locations, the HRA can be 9 per cent, 8 per cent or 7 per cent of the Basic Pay.|
|Special Allowance||The Special Allowance is 7.75 per cent of the Basic Pay.|
|City Compensatory Allowance (CCA)||The CCA too, like the HRA, depends upon the location of posting. It can be 4 per cent, 3 per cent or 0 per cent based on the job location.|
- Leased Accommodation: In some locations, the bank offers accommodation/quarters to the PO In such cases, the House Rent Allowance is not provided. The amount goes directly to the owner of the accommodation.
- Travelling Allowance: The bank also provides Travelling Allowances to the POs. Otherwise, the expenses on petrol are reimbursed.
- Medical Aid
- Newspaper Reimbursement
- New Pension Scheme
IBPS PO Promotions
The table below has detailed information regarding the promotions of IBPS PO:
|IBPS PO Salary: IBPS PO Promotions|
|1. Middle Manager – Middle Management Grade Scale 2|
|2. Senior Manager – Middle Management Grade Scale 3|
|3. Chief Manager – Senior Management Grade Scale 4|
|4. Assistant General Manager – Senior Management Grade Scale 5|
|5. Deputy General Manager – Top Management Grade Scale 6|
|6. General Manager – Top Management Grade Scale 7|
|7. Executive Director|
|8. Chairman and Managing Director|
SBI PO Job Profile
The State Bank of India Probationary Officer (SBI PO) is one of the most desired and esteemed jobs in India. The State Bank of India (SBI) being the largest commercial bank in India, makes sure an extremely secured future for their employees. It offers financial stability as well as high social status. Therefore, every year lakhs of students write the SBI PO exam to be recruited in the banking sector. SBI PO Notification
Responsibilities of SBI PO
The candidates can check out the following details in order to have more information related to the responsibilities of SBI PO: Also, see SBI PO Eligibility Criteria
- There is a probation period of 2 years for an SBI PO
- During the probation period, the individual will supervise clerical activities, loan procedure, the opening of the bank accounts and more
- Moreover, they will be taught several fields of banking like Retail Banking, Rural Banking etc.
- Other than the on-site training, the individual will also get training at SBI institutions
- Once the probation period is over, the candidate will go through the screening
- The SBI PO will directly represent the bank to the customers promoting to them
Check: SBI PO Vacancy
SBI PO Salary Structure
The initial basic pay of an SBI PO is Rs.27,620/-. The candidates can check the following table in order to know the salary structure in detail:
|SBI PO Salary 2019: Allowances|
|Dearness Allowance (DA)||The DA is calculated based on the Consumer Price Index (CPI) and is revised every quarter. You can expect your DA to be around 46 per cent of the basic pay. However, it will go up or down based on inflation.|
|City Compensatory Allowance (CCA)||This is calculated based on your city of posting and ranges between 3 to 4 per cent of the basics.|
|Leased House Accommodation / House Rent Allowance (HRA)||This too depends upon the city of your posting and can vary from Rs 8000 (in rural areas) to Rs 29,500 (in Mumbai).|
|Travel Allowance (TA)||SBI PO gets reimbursement of travel cost for official travels.|
|Furniture Allowance||Rs 1,20,000 for the purchase of furniture.|
Know more about SBI PO Application Form
SBI PO Other Additional Benefits
The salary of an SBI PO is great. But, that is not enough. There are other allowances which are provided to the employees by the government. The candidates must take a look at the following table for proper details:
|SBI PO Salary: Additional Benefits|
|Medical insurance (100 per cent for SBI PO and 75 per cent for family members)|
|Cashless treatment in selected medical facilities around the country|
|Books and magazines allowance|
|House maintenance allowance|
|Telephone bill reimbursement|
|Concessionary interest rates for House Loan, Car Loan, and Personal Loan|
SBI PO Promotions & Career Growth
The students who plan to appear in the SBI PO exam can check out the following table to know more details regarding the SBI PO Promotions and Career Growth:
|SBI PO Salary: SBI PO Promotions & Career Growth|
|Assistant General Manager|
|Deputy General Manager|
|Chief General Manager|
IBPS SO Job Profile
The job profile of IBPS SO means to serve for the technical issues about software and hardware up-dos, transpiring within the organization. The IBPS SO will be aware of how to deal with the technological complications, whether they are coming from the side of customers or the bank employees. The IBPS SO usually stays at the zonal/regional office or at branches so the job location, most times, is in big cities where the person will be responsible for managing various tasks and duties. The following are the duties of the IBPS SO:
- The main job of the IT Officer in Banks is that he is dutiful towards the delivery of end-to-end support for the bank’s core banking system
- Whether the issues are being observed from the end of customer or from the bank employees, he will provide the solution for the smooth running of systems
- The IBPS Specialist Officer IT Officer work profile has to handle several sub-systems of banking like handling the maintenance of ATM, mobile banking or internet banking.
- The IT officer has to perform creative functions also, like developing new software which holds some strong meaning for the system and if needed, modify the existing software so that to prevent the security issues to system data
IBPS SO Salary Structure
The candidates can check the table given below to know the information related to the salary structure of IBPS SO:
|Officer Scale I||23700-980(7)-30560-1145(2)-32850-1310(7)-42020.|
|Officer Scale II||31705-1145(1)-32850-1310(10)-45950.|
|Officer Scale III||42020-1310(5)-48570-1460(2)-51490.|
IBPS SO Career & Growth
The promotion scale of IBPS SO grade place in 7 divisions The lowest level is the Junior Management Grade, which is a scale -1 officer grade. The highest level is Top Management Grade which is a scale-7 grade. The table below displays the career growth and promotion idea of the post of IBPS SO: The promotion takes place on the basis of one’s performance and results in the bank
|Junior Management Grade||Scale I||Officer|
|Middle Management Grade||Scale II||Manager|
|Middle Management Grade||Scale III||Senior Manager|
|Senior Management Grade||Scale IV||Chief Manager|
|Senior Management Grade||Scale V||Assistant General Manager|
|Top Management Grade||Scale VI||Deputy General Manager|
|Top Management Grade||Scale VII||General Manager|
IBPS SO Perks and Allowances
There are several perks and allowances which are provided by the government to the person at the position of IBPS SO. The table below explains:
|IBPS SO Basic Salary||Basic pay is the same irrespective of the city of appointment. It is INR 23700 that is from June 1,|
|HRA||This is paid @ 9.0% or 8.0% or 7.0% depending on the place of posting|
|DA||As per the latest CPI released by the gov., the DA amount is INR 8605.88.|
|Special Allowance||For Scale-1. It is paid @ a rate of 7.75%|
|Perks||Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. 4,130|
|Least Accommodation||Least Accommodation is up to Rs 29500, this is provided in lieu of HRA|
|CCA||This is paid @ 4%, 3% or 0% depending on the place of posting|
SBI SO Job Profile
The job of an SBI SO usually depends on the department he is posted in. The job is to do technical help. The various responsibilities of an SBI SO are as follows:
- The SBI SO maintains the IT infrastructure in the bank
- Secondly, they also handle the duty to maintain the server
- Also, the smooth working of ATM machines is also handled by an SBI SO
- The person at the job will take care of the troubleshooting matters
- Even more, the person at the duty of SBI SO will handle small tasks like installation, formatting etc.
SBI SO Salary Structure
The following table shows the salary structure of the position of an SBI SO:
|SCALE ABBREVIATION||SCALE||SCALE OF PAY||MONTHLY EMOLUMENTS APPROX|
|JMGS I||Junior Management Grade Scale I||23700-980/7-30560-1145/2-32850-1310/7-42020||73600-(inclusive of leased Rental at Mumbai)|
|MMGS II||Middle Management Grade Scale II||31705-1145/1-32850-1310/10-45950||90700-(inclusive of leased Rental at Mumbai)|
SBI SO Perks and Allowances
There are many kinds of perks and benefits that people in government jobs get the advantage of. The following mentioned are some of those SBI SO Perks and Benefits candidates must check:
- House Rent Allowance
- Travel Allowance
- Accommodation Facilities
- Medical Facilities
- Furniture Allowance
- A respectable job
- Handsome Salary
SBI SO Career Growth and Promotions
The following mentioned is the growth and promotion process of an SBI SO: Top Management – Scale 7 – General Manager Top Management – Scale 6 – Deputy General Manager Senior Management – Scale 5 – Asst. General Manager Senior Management – Scale 4 – Chief Manager Middle Management – Scale 3 – Senior Manager Junior Management – Scale 2 – Manager Junior Management – Scale 1 – Officer/Assistant Manager
SBI Clerk Job Profile
SBI Clerk is one esteemed job profile. The SBI makes sure that the new person at the job of SBI Clerk gets proper training before beginning the actual work. The career growth of an SBI Clerk depends on the performance of the candidate. See SBI Clerk Notification There are several responsibilities of the person at the job of SBI clerk which are mentioned as follows:
- The person as an SBI Clerk will handle the opening of new accounts of customers
- Secondly, the person at the SBI clerk job will also take care of the cheque clearance, cheque book rewards and more such similar duties
- They might also function as Cashiers in some branches
- The SBI Clerk will directly be in touch with the customers to solve their queries
Know more about SBI Clerk Syllabus
SBI Clerk Salary Structure
The salary (in-hand) of an SBI clerk, after making all the deductions, varies from place to place at which the individual is being posted. It mostly lies in the range of Rs.20,000/- to 23,000/- (according to the posting location) Check: SBI PO Exam Dates There are several kinds of perks and allowances for the job of SBI clerk which are as follows:
- Dearness Allowance (DA) House Rent Allowance (HRA)
- Special Allowance
- Transport Allowance and more
|SBI Clerk Salary Components|
|Dearness Allowance (DA)||This component of SBI Clerk Salary is revised quarterly, i.e. 4 times a year and is based on the Consumer Price Index (CPI). The DA increases when inflation is high and vice versa.|
|House Rent Allowance (HRA)||The HRA depends on the city of SBI Clerk’s posting. If it is a Metro city, the HRA is higher. In case of rural areas, the HRA is less.|
|Transport Allowance (TA)|
SBI Clerk Career Growth and Promotions
SBI has some excellent career growth opportunities for the SBI Clerk post. Employees SBI have the chance to get promotion in JMGS Scale-I.
- For promotion to the officer cadre, the person has to satisfy specific requirements, which vary as per the promotion cadre. For example, for promotion to Trainee Officers, the employees can write the written exam and interview after 3 years of service
- SBI Clerks have the best opportunities for promotion in comparison to other government banks
- Employees can reach as high as the post of General Manager because of the fast track promotion process of SBI
Also, check SBI Clerk Job Profile & Salary
IBPS Clerk Job Profile
IBPS Clerks are the most prestigious posts in the bank they are working in. They are the main aspect of the bank because they have to deal with customers regularly. Other than the handsome IBPS Clerk Salary, the job also provides great scopes to learn about how a bank works IBPS Clerks are also known as single-window operators as they have to sit at a single window counter and interact with the customers. In all the banks, the clerks act as the point of contact for the clients. They solve the issues of the customers. Also, tell them about the various rules and formalities, and solves the various matters faced by the customers.
IBPS Clerk Job Responsibilities
There are some responsibilities of an IBPS Clerk which are written as follows:
- Firstly, the IBPS Clerk verifies several different kinds of documents and proofs which the clients submit
- Secondly, they have the duty of updating passbooks of the customers
- They provide guidance to the customers regarding the bank policies and other things related to the bank
- They also have to be there for the issues of the clients
IBPS Clerk Salary Structure
The candidates must check out the following table for the detailed information regarding the Salary structure of IBPS Clerk:
|Places With Population More Than 45 lakhs||Places With Population Less Than 45 lakhs|
|Basic Pay||Rs 11765||Rs 11765|
|Dearness Allowance||Rs 5311||Rs 5311|
|Travel Allowance||Rs 425||Rs 425|
|Special Allowance||Rs 911||Rs 911|
|House Rent Allowance||Rs 1176||Rs 1058|
|Total IBPS Clerk Salary||Rs 19588||Rs 19470|
IBPS Clerk Perks & Promotions
The aspirants can check the table given below in order for more information regarding the IBPS Clerk Perks and Benefits:
|Special Allowance||In the beginning, the Special Allowance is 7.5 per cent of the Basic Pay. Once, one year of service is completed, Special Allowance is increased by Rs 400 to Rs 500|
|Dearness Allowance (DA)||This element is 4 per cent of the IBPS Clerk Basic Pay. DA depends on the CPI and is revised quarterly, i.e. after every three months.|
|House Rent Allowance (HRA)||The HRA depends on the place/city of the posting. It will be 8.5 per cent of the Basic Pay for Metro Cities, 7.5 per cent of the Basic Pay for cities having a population of more than 5 lakhs, and 6.5 per cent of the Basic Pay for other cities.|
|Travel Allowance||The expenditure on official tours and travels will be provided by the bank|
|Medical Allowance||This is paid once a year. For IBPS Clerks, the amount is fixed at Rs 2000|
Hierarchy Structure in Private Sector Banks
Private sector banks are a lot different from public sector banks. It is hard to compare between both public sector and private sector banks as both of them function differently. 1. Clerks – Clerical positions are front desk positions. Clerks have to deal directly with customers and have responsibilities like current deposit, term deposit, savings account, retail loans, agricultural loans and cash credit sections. 2. Officers – Officers need to conduct seminars and business planning sessions and discuss monthly functioning of the bank. They analyse monthly reports and prepare financial reports to submit to higher management
IBPS Clerk Job Profile
The following is the details of Middle Management:
- Manager – They oversee the daily functioning of the bank and guide the junior staff in the individual departments. They also work closely with the marketing team and develop flexible programs for the customers.
- Senior Manager – Senior managers are with the loan section and work on investments and account service operations.
Senior Management information is as follows:
- Chief Manager – Chief Manager manages the list of implementations of accounts and report to shareholders, cost control, budgeting and also report to local authorities.
- Assistant General Manager – They solve the customer queries regarding the savings and current accounts and make the customer understand the value of various banking and financial services offered by the bank.
The top management is explained as follows:
- Deputy General Manager – Deputy general manager works under a general manager. The main role is to monitor various banking policies and procedures and assist the general manager.
- Chief Financial Officer – CFO is an important constituent of the bank, who supervises the financial unit of the bank and reports to the chief executive officer. CFO conducts regular operations like cost-benefit analysis, budget analysis and forecasting.
- Chief Executive Officers – CEO should be well knowledgeable about capital management, business communication, portfolio management, investments, investing, security analysis, and finance laws.
- President – The president oversees the operations of the top management. The president is responsible for implementations and planning of various policies in the bank and also coordinate with third parties related to banking that may also involve governmental and non-governmental organizations closely related to banking and finance.
Recruitment in Private Sector Banks
Every year a huge number of vacancies are released by the Private sector Banks. There are various Private Sector Banks that recruited candidates for various posts. Some of such Banks are ICICI,HDFC Ltd, Axis Bank,
Hierarchy in Private Sector Banks
The most common hierarchy for both national level bank, as well as international banks, is: 1. Analyst 2. Associate 3. Senior Associate 4. Assistant Vice President 5. Vice President 6. Senior/Executive Vice President 7. Executive Director 8. Managing Director 9. Regional Level CXO positions 10. Global CXO level positions.
Which one of the two is better – Private Sector Bank or Public Sector Bank?
You need to decide whether you want to work for SBI or HDFC. It all depends on you. Both PSB’s and private sector banks come with their own set of challenges and hence it would be wrong to say that one is better than the other. The Culture of working too will differ in both private and public sector banks. Private sector banks will have have a very competitive environment to work and there will not have much job security. Public sector banks, on the other hand, are very conservative and come with a lot of perks and benefits, but not without their own set of disadvantages.
Share your thoughts/queries here!