HC2101 Performance Management for Human Resources: Bank Manager Report

This report provides an overview of the banking sector and a detailed analysis of the bank manager's job description. It discusses the roles, responsibilities, and required skills for a bank manager, including analytical skills, consumer awareness, and decisiveness. The report also covers the selection and recruitment concepts used in hiring a bank manager, highlighting the importance of these processes in the banking industry. Furthermore, the report explores various job roles within the banking sector, offering insights into career options. The report emphasizes the importance of performance management within the context of human resources in the banking industry.

HC2101
Performance Management for Human Resources
1

Contents
Introduction....................................................................................3
Banking Sector..............................................................................4
Jobs in banking industry..............................................................6
Job description of the Bank Manager and Skills required by
the applicant for filling the Vacancy............................................9
Selection and Recruitment concept of hiring a bank manager
.......................................................................................................14
Conclusion....................................................................................17
References......................................................................................18
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Introduction
With the rise in the technology, every industry is going
through phenomenal development and great changes.
People are working harder towards their dream job and
going through a systematic way of finding a worthy job in
regards with the companies. Considering the rapidness of
changes and as per the requirement of the assignment
banking industry is the selected industry for the report and
bank manager is the selected job description of the report. In
this report, there will be discussion about the banking sector,
job description of a bank manager would be discussed along
with the skills that applicants need to be equipped with while
applying for the job vacancy. Along with this, report will
discuss about the selection and recruitment concepts used
in the job description.
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Banking Sector
Banking is the kind of industry which is related to the
handling and management of the cash, credits & all other
transactions based on finance. Banks are useful to the whole
economy. They provide a place to the people for storing their
cash safely. There are several benefits provided by the
banking sector like, saving account facility, deposit certificate
facility and checking accounts. The main operation of bank is
to collect the cash and make the loans. Loans can be of
several types, home loans, business loan, utilities loan, etc.
Banking is the most important driver of the economy. It helps
in providing liquidity to the families & businesses, for the
purpose of future investments. (JK Ellington et al., 2015, p1-
1) Bank loans are the kind of loan, for which family or
business don’t need to save up before any big plan; they can
easily use the loan facility as per the terms and conditions of
the bank. The working of the bank is neither easy nor
complicated. Banks are the safest place to deposit the cash
and federal deposit insurance corporation is taking care and
insuring the safety of the banks. Banks also provide a facility
of the interest to its depositors for depositing the amount.
Federal Reserve has enough power to change the
depository percentage as per the economy and this
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regulation is known as reserve requirement. They are able to
increase the cash flow by charging high interest from the
loan takers and provide some percentage to the depositors.
There is no single bank present in this sector; there are
several types of the bank in this industry. Commercial banks
are the ones who are providing their services to private
people and big companies. There is another type, which is
retail banking they help in providing credit and money
handling to the family and companies. There are banks
which are smaller than commercial ones and which are
called community banks. They pay attention on the local
market and provide services to the people in a much
customized way in order to incorporate better relationships
with the customers. Other than this, E-banking helps in
providing services across the world. This branch of banking
is also known as internet based banking or net banking and
it is spreading widely. Every other bank in the world is
offering online services to the customers. Services like
savings and loans are one of the special entities of the bank
which are helpful in affording the home ownerships. Banks
often provide high interest rates to the customers in return to
their money raised for mortgage. Customers in these
services own their unions, which allow them to have low cost
and customized services. Employees who are working in the
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banking sector enjoy several kinds of benefits. The most
important and special bank is the central bank. The whole
banking structure is nothing without central bank. Banks are
not able to supply liquidity without them. In the U.S there is
Federal Reserve but in almost every country there is one
version of central bank. There are four primary functions of
the Federal Reserve/Central Bank. First, open market
purchase and sell, second, reserve requirement, third fixing
of interest rate and lastly, discount window which provides
support and liquidity. Banking has become the integral part
of present world (M Mader-Clark, 2013).
.
Jobs in banking industry
There are many career options in the banking sector which
people can chose and earn high as per the education and
qualification. Following are the list of jobs that are available
in the banking sector:
 Accountant
They are hired to analyze and prepare a plan for
handling business incomes and expenditures. One
can pursue this job by having bachelor’s degree and
master’s degree. For public firms one needs to have
certified public accountant.
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 Auditor
They review the accounting records and ensure the
consistency and accuracy in the accounts by
prevailing proper regulation and rules. For becoming
an auditor one is required to have certified bank
auditor.
 Bank manager
Bank Manager is the one who is responsible for
handling and managing whole team of bank so that
high productivity could be attained with the excellent
customer services. His primary job is to manage the
staff and improve the performance of the branch (H
Aftab, 2012).
 Bank teller
They are ones whom customers meets the first, they
help in checking the cash, deposits made and
withdrawal processes. One need to have a bachelor’s
degree and can pursue for the higher jobs too like,
officer, banker, manager, etc.
 Collector
Collectors are the one who help in managing the
accounts and keep the records of the bills and
invoice. One can have diploma to pursue this job.
 Financial Analyst
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He/she helps people or businesses to make decision
about the investment and in order become financial
analysts, one need to have a bachelor’s or master’s
degree along with the credential of chartered financial
analyst in order to grab the position of financial
analyst.
 Loan officer
They identify the people who are looking for the loan
and help them apply for the loans. For this they
conduct proper study on the customer by evaluating
history and financial records. These people are good
at economics and finance fields.
 Relationship Manager
They help in maintaining healthy relationships with
customers. They are required to have good
knowledge about the bank and its services in order to
deliver appropriate services to the customers. For
this job one need to bachelor’s degree with some
experience in customer management.
 Treasurer
He/she is responsible for managing the finances and
objectives of the bank. They are required to handle
the budget and look into the investment strategies for
overcoming the important expenditures. For this job,
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one needs to have master’s and PhD, along with
credentials from other banks (SL Rohr, 2016).
Job description of the Bank Manager and Skills required
by the applicant for filling the Vacancy
There job description of the bank manager will usually have
some certain aspects which can be described as follows:
Bank Manager Roles and Obligations As a manager, you'll
get into charge of overseeing the operations with one or
even more divisions, as well as hitting aggressive revenue
goals and maintaining employees well-trained and inspired.
There's never a dull moment at this role, and certain
responsibilities also included:
 Increasing the visibility of the division as well as its
goods Convening with consumers and settling any
issues or concerns that might arise
 Assuring a high standard of business experience
 Keeping track of revenue expectations
 Sharing to the corporate headquarters
Day times of the bank manager
The operating times can vary depending on which company
you operate with, though most of the branches are opened
Monday through Friday from 9.30 a.m. with 5 p.m. –
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however even many companies are also opening on
Weekends. While you can concentrate several of their
downtime somewhere at company, as the boss, you will
indeed be expected to travel to certain other subsidiaries
along with conduct interviews and strength exercises (P
Chaudhary, R.K Lodhwal, 2017).
What does a bank manager get paid?
Beginning wages are about £25k, although the top earners
will receive up to £70k a year including practice. The base
pay of a department head can be supplemented by multiple
incentive programs meaning you'll don't ever forget to eat
spaghetti.
The secondary responsibility of even every bank manager
would be to direct their financial staff, offer excellent
operation and improve the efficiency of every bank branch.
Whose position is crucial, since they are responsible for the
efficiency and progress of every cash machine. Bank
Managers should have extensive understanding of any part
of their branch's activities in order to guarantee that each
branch performs at an outstanding standard Bank managers
remain in charge of their employees' decisions and usually
submit to a district boss Based on the current Department, of
Employment for management accountants, which
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encompasses bank managers, becomes projected to grow
by 7% across 2024 (O M Karatepe, et al, 2019).
The first among a bank manager's several significant duties
is to assist and advise their banking employees in their daily
activities and assignments. To improve the efficiency of
every bank branch, they have to be prepared to collaborate
and collaborate efficiently with your employees. Bank
managers ensure that employees are mindful of the service's
goals and productivity expectations, as much as their own
personal effort, in order to maximize branch progress. The
Banker should also collaborate to educate and mentor new
hires as well as lengthy staff to guarantee that everybody is
assured of delivering excellent results.
Bank managers were in charge of their banking service's
overall performance. They should collaborate to guarantee
that every client receives the best level quality banking
services including goods possible, as well as excellent
customer support. Bank managers are responsible for
developing and promoting new goods and programs for
clients, and also conducting marketing activities and
communicating. Bank managers were continually devising
new tactics in order to meet their chapter's success targets.
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The skills which are required for the bank the manager can
be described as follows:
Skills in analysis it’s a clear fact whether they won't progress
too well in accounting and financial whether you already
provide the research abilities to recognize developments,
patterns, and conclusive assumptions from the vast amounts
of information you'll be exposed to, independent with which
segment you function in as well as the complexity of any job
(R W Setyorini, et al, 2018, pp.20974-20985).
Consumer awareness is essential a good quality banker's
willingness in the direction of predict monetary
circumstances and potential financial proceedings
approximately Self-assurance The stereotype of pugnacious,
boisterous, and vain teenage boys motivated mostly by
vanity and arrogance has a negative impact on the public
opinion of banking. Although this isn't quite a true
representation of the situation, it's unavoidable that staying
afloat in a very situation necessitates trust.. It is indeed
important to learn how companies behave and what
motivates everyone in the corporate sector, specifically if
you're dealing with companies directly. If you're consulting
for a customer in a specific market, for example, you'll need
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to be well-versed in the company's environment, threats, and
future transition causes.
Pay close attention to the details. Some other requirement
for accounting is a sharp capacity for information, whether
this is spotting unusual developments or events or preparing
comprehensive accounting statements for executive
executives many accounting jobs need the willingness to
recognize irregularities or, even more specifically, basic
errors. Then again, it's easy to miss an additional zero with
two; however the employers are impossible to be delighted if
it ends in an accidental $1.4 billion sale (A Mannocci, et al,
2018, p.707).
Decisiveness As historically said, banking sector is a
demanding and challenging world in which you'll face a slew
of challenges on the way from fresh-faced student to
experienced sales representative.
As a consequence, you'll really have to remain hell-bent on
succeeding, particularly though it involves working
inexplicable nights and sacrificing huge compromises For
example, the financial incentives for all of those who
succeed will be nearly impossible, but getting their won't be
simple.
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A strong work discipline similarly, wealth management is
never for anyone unproductive or idle. The hours can be
prolonged and demanding, and following objections about
the company's absence of working balance (which include
harsh 50-day working days), there would seem would be no
desire only within institutions to change this intense culture.
To live, you must be willing to push him to your boundaries,
particularly within the next five months if they cannot have a
strong work discipline as a bare requirement you would
definitely look for another job.
Self-assurance The stereotype of pugnacious, boisterous,
and vain young males motivated mostly by vanity and
arrogance has a negative impact on the public opinion of
banking. Although this isn't quite a true representation of the
situation, it's unavoidable that staying afloat in a very
situation necessitates trust.
Selection and Recruitment concept of hiring a bank
manager
Selection process constitutes series of simple test which
applicant is required to pass, if they fail any of the test that
means they are not eligible for the job. There are three steps
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in the selection process. One, written test, after this one
need to present themselves in the viva at least 2 times and
lastly selected applicant is required to join the office with
required and essential documents along with medical
records. There are several factors which affect the selection
process, like, technical capability, cultural adaptability, family
things, country adaptability, language, dual employment,
intra networking and children issues (R Bradshaw, 2016, p3)
.
Recruitment is the process of hiring new people within the
banking sector. For the job of bank manager, first manager
need to look for the vacancy in the bank and analyze that it
can be filled by new creation or replacement. After this
provide the job description and specifications needed in the
individual in respect with the job. Next, let the applicants
made the choice of their field for the sorting of the
candidates from the given applications. Begin with the
interview and selection process. Let the applicant and
employer accept the offer with suitable candidate. The final
step the induction process of the new recruiter/bank
manager for explaining him the work and working of bank for
the better performance (SO Salami, SO Ajitoni, 2016, p374-
382)
.
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Conclusion
Money is the necessary thing for living and leading a good
life. This can be done by pursuing a career which gives you
happiness and leisured life. But for that one must acquire
knowledge about the industry, they are entering into. the
selected industry for the report and bank manager is the
selected job description of the report. In this report, there will
be discussion about the banking sector, job description of a
bank manager would be discussed along with the skills that
applicants need to be equipped with while applying for the
job vacancy. Along with this, report will discuss about the
selection and recruitment concepts used in the job
description.
17

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