Last updated on May 14th, 2024 at 09:42 am
Banking operations is that department of a bank that is responsible for the daily legal transactions of a bank like providing loans, mortgages and investments, depending on the focus and size of the bank. One of the most important functions of the operations department is to control and manage the trade processes of a bank and of the other branches of that bank. Since there are thousands of transactions taking place every second, this job has become incredibly complex.
Banking operations is a booming career option as it is expected that in the coming years banks would be on a hiring spree. Operations, as a function, requires specialized knowledge and domain expertise and this department is often viewed as the engine of the bank. Yet there is a serious shortage of candidates with the right skillsets. There are currently over 5,300 vacancies for Branch and Bank Operations professionals on Naukri (Sept, 2016), proving that the demand is outpacing the available supply.
Job Roles:
Job roles on offer include Branch Banking Officer, Front Office Sales Executives or Customer Relationship Managers in Executive to Managerial positions in the following types of organizations:
- Leading private sector banks like Axis Bank, ING Vysya Bank, HDFC, Kotak, Indus Ind
- Non-Bank Finance companies like Alankit, India Bulls, Muthoot Finance etc.
- Insurance companies like HDFC Life, Aviva, Max New York
- Finance companies like IndiaInfoline, Anand Rathi and Motillal Oswal
Average Salaries:
- Loan Officer: Rs 178266 pa
- Customer Service Executive: Rs 276660 pa
- Bank Officer: Rs 333,668 pa
- Branch Operations Manager: Rs. 621794 pa
[Source: Payscale, Indeed; Sept 2016]
Imarticus Learning is proud to announce the launch of its Branch Operations program. This program includes comprehensive coverage of the frameworks and processes governing the Operations function in the Banking industry and covers a wide range of topics relevant to the Banking Operations function such as Finance and Accounting basics, the Indian Banking and Financial system, banking services, branch operations, rural banking, security, role of technology in banking as well as ethics and regulatory frameworks that underpin the banking sector, along with dedicated modules on banking software, personal development, and customer service excellence to create truly well-rounded professionals ready to enter the workforce.
Authored by Zenobia Sethna
