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Become A Commercial Banker

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Working As A Commercial Banker

  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Guiding, Directing, and Motivating Subordinates
  • Coaching and Developing Others
  • Establishing and Maintaining Interpersonal Relationships
  • Deal with People

  • Unpleasant/Angry People

  • Mostly Sitting

  • Make Decisions

  • $117,990

    Average Salary

What Does A Commercial Banker Do

Financial managers are responsible for the financial health of an organization. They produce financial reports, direct investment activities, and develop strategies and plans for the long-term financial goals of their organization.

Duties

Financial managers typically do the following:

  • Prepare financial statements, business activity reports, and forecasts
  • Monitor financial details to ensure that legal requirements are met
  • Supervise employees who do financial reporting and budgeting
  • Review company financial reports and seek ways to reduce costs
  • Analyze market trends to maximize profits and find expansion opportunities
  • Help management make financial decisions

The role of the financial manager, particularly in business, is changing in response to technological advances that have substantially reduced the amount of time it takes to produce financial reports. Financial managers’ main responsibility used to be monitoring a company’s finances, but they now do more data analysis and advise senior managers on ways to maximize profits. They often work on teams, acting as business advisors to top executives.

Financial managers also do tasks that are specific to their organization or industry. For example, government financial managers must be experts on government appropriations and budgeting processes, and healthcare financial managers must know about topics in healthcare finance. Moreover, financial managers must be knowledgeable about special tax laws and regulations that affect their industry.

The following are examples of types of financial managers:

Chief financial officers (CFOs) are accountable for the accuracy of a company’s or organization’s financial reporting, especially among publicly traded companies. As head of a company’s entire financial department, they manage the lower level financial managers. They oversee the company’s financial goals, objectives, and budgets.

Controllers direct the preparation of financial reports that summarize and forecast the organization’s financial position, such as income statements, balance sheets, and analyses of future earnings or expenses. Controllers also are in charge of preparing special reports required by governmental agencies that regulate businesses. Often, controllers oversee the accounting, audit, and budget departments of their organization.

Treasurers and finance officers direct their organization’s budgets to meet its financial goals. They oversee the investment of funds and carry out strategies to raise capital (such as issuing stocks or bonds) to support the firm’s expansion. They also develop financial plans for mergers (two companies joining together) and acquisitions (one company buying another).

Credit managers oversee their firm’s credit business. They set credit-rating criteria, determine credit ceilings, and monitor the collections of past-due accounts.

Cash managers monitor and control the flow of cash that comes in and goes out of the company to meet the company’s business and investment needs. For example, they must project cash flow (amounts coming in and going out) to determine whether the company will have a shortage or surplus of cash. 

Risk managers control financial risk by using strategies to limit or offset the probability of a financial loss or a company’s exposure to financial uncertainty. Among the risks they try to limit are those that stem from currency or commodity price changes.

Insurance managers decide how best to limit a company’s losses by obtaining insurance against risks, such as the need to make disability payments for an employee who gets hurt on the job or the costs imposed by a lawsuit against the company.

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How To Become A Commercial Banker

Financial managers typically have a bachelor’s degree and 5 years or more of experience in another business or financial occupation, such as an accountant, securities sales agent, or financial analyst.

Education

A bachelor's degree in finance, accounting, economics, or business administration is often the minimum education needed for financial managers. However, many employers now seek candidates with a master’s degree, preferably in business administration, finance, or economics. These academic programs help students develop analytical skills and learn financial analysis methods and software.

Licenses, Certifications, and Registrations

Professional certification is not required, but some financial managers still get it to demonstrate a level of competence. The CFA Institute confers the Chartered Financial Analyst (CFA) certification to investment professionals who have at least a bachelor’s degree, 4 years of work experience, and pass three exams. The Association for Financial Professionals confers the Certified Treasury Professional credential to those who pass an exam and have a minimum of 2 years of relevant experience.

Work Experience in a Related Occupation

Financial managers usually have experience in another business or financial occupation. For example, they may have worked as a loan officer, accountant, securities sales agent, or financial analyst. 

In some cases, companies provide formal management training programs to help prepare highly motivated and skilled financial workers to become financial managers.

Important Qualities

Analytical skills. Financial managers increasingly are assisting executives in making decisions that affect their organization, a task which requires analytical ability.

Communication skills. Excellent communication skills are essential because financial managers must explain and justify complex financial transactions.

Detail oriented. In preparing and analyzing reports such as balance sheets and income statements, financial managers must be precise and attentive to their work in order to avoid errors.

Math skills. Financial managers must be skilled in math, including algebra. An understanding of international finance and complex financial documents also is important.

Organizational skills. Financial managers deal with a range of information and documents and so they must stay organized to do their jobs effectively.

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Commercial Banker jobs

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Commercial Banker Career Paths

Commercial Banker
Commercial Lender Finance Analyst
Assistant Vice President
7 Yearsyrs
Senior Vice President Business Developer Business Development Officer
Business Relationship Manager
9 Yearsyrs
Project Manager Vice President Chief Finance Officer
Chief Finance And Operating Officer
14 Yearsyrs
Associate Senior Associate Assistant Vice President
Credit Officer
5 Yearsyrs
Commercial Lender Office Manager General Manager
Director Of Sales
10 Yearsyrs
Loan Administrator Office Manager Controller
Finance Vice President
9 Yearsyrs
Managing Director President/Chief Executive Officer Sales Consultant
Key Account Manager
7 Yearsyrs
Vice President And Manager Finance Advisor Assistant Vice President
Manager, Assistant Vice President
7 Yearsyrs
Vice President And Manager Chief Executive Officer Specialist
Operations Manager
7 Yearsyrs
Managing Director Marketing Consultant Director Of Sales And Marketing
Regional Sales Director
10 Yearsyrs
Finance Analyst Finance Manager Sales Manager
Regional Sales Manager
9 Yearsyrs
Senior Vice President Vice President And Manager Controller
Senior Director Of Finance
14 Yearsyrs
Associate Attorney Assistant Vice President
Senior Relationship Manager
10 Yearsyrs
Business Relationship Manager Senior Project Manager Senior Account Executive
Senior Sales Executive
9 Yearsyrs
Investment Banker Project Manager Operations Director
Senior Vice President-Operations
13 Yearsyrs
Project Manager General Manager Account Manager
Strategic Accounts Manager
9 Yearsyrs
Loan Administrator Assistant Vice President
Vice President & Sales Manager
9 Yearsyrs
Finance Analyst Assistant Vice President
Vice President And Manager
10 Yearsyrs
Investment Banker Senior Finance Analyst Assistant Vice President
Vice President Operation Manager
9 Yearsyrs
Business Relationship Manager Vice President And Manager
Vice President, Product Manager
9 Yearsyrs
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Commercial Banker Demographics

Gender

Male

56.5%

Female

39.5%

Unknown

4.0%
Ethnicity

White

75.8%

Asian

12.8%

Hispanic or Latino

8.0%

Unknown

2.4%

Black or African American

1.0%
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Languages Spoken

Spanish

30.6%

French

14.5%

Mandarin

11.3%

Chinese

9.7%

Arabic

4.8%

Italian

4.8%

Japanese

3.2%

Urdu

3.2%

German

1.6%

Portuguese

1.6%

Indonesian

1.6%

Hakka

1.6%

Greek

1.6%

Czech

1.6%

Hebrew

1.6%

Russian

1.6%

Polish

1.6%

Hindi

1.6%

Cantonese

1.6%
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Commercial Banker Education

Schools

University of Phoenix

9.6%

Northwestern University

7.4%

Harvard University

6.4%

Georgetown University

6.4%

DePaul University

6.4%

University of Notre Dame

6.4%

University of Chicago

5.3%

New York University

5.3%

University of Florida

4.3%

Texas Tech University

4.3%

Drexel University

4.3%

Villanova University

4.3%

Georgia State University

4.3%

Colorado Technical University

4.3%

University of Georgia

4.3%

Northern Illinois University

4.3%

Case Western Reserve University

3.2%

University of Richmond

3.2%

University of Washington

3.2%

University of North Texas

3.2%
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Majors

Business

30.9%

Finance

26.3%

Accounting

9.0%

Economics

6.7%

Management

5.2%

Marketing

2.7%

Psychology

2.5%

Political Science

1.9%

International Business

1.7%

Real Estate

1.7%

Human Resources Management

1.5%

Communication

1.5%

Liberal Arts

1.5%

Journalism

1.3%

Mathematics

1.0%

Computer Science

1.0%

Law

1.0%

English

1.0%

Legal Research And Advanced Professional Studies

0.8%

Operations Management

0.8%
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Degrees

Bachelors

41.5%

Masters

36.0%

Other

14.0%

Associate

3.7%

Certificate

2.3%

Doctorate

1.2%

Diploma

0.9%

License

0.5%
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Top Skills for A Commercial Banker

LoanPortfolioClientRelationshipsComplianceRealEstateLoansBankAssetsCustomerServiceBusinessDevelopmentLoanDocumentationSmallBusinessRegulatoryTreasuryManagementRiskManagementDueDiligenceAdditionalAuditFinancialStatementAnalysisSBAForeignExchangePortfolioManagementCustomerRelationships

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Top Commercial Banker Skills

  1. Loan Portfolio
  2. Client Relationships
  3. Compliance
You can check out examples of real life uses of top skills on resumes here:
  • Created the bank's commercial loan portfolio and business entity acquisition policies, processes and governance.
  • Leveraged networking experience and actively pursued and established new client relationships.
  • Monitored compliance to Bank One and federal government customers' contracts, processing guidelines and business requirements.
  • Prepare mortgages and release of mortgage on real estate loans.
  • Established and enhanced relationships with business customers and potential customers to achieve team sales goals and provide quality customer service.

Top Commercial Banker Employers

Commercial Banker Videos

How Banks Create Money and the Money Multiplier- Macro 4.8

RBS Citizens Financial Group's Commercial Banker Development Program

Dividend Discount Model - Commercial Bank Valuation (FIG)

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