Banking and Financial Institutions Management (checksheet)

This option prepares students for a variety careers related to commercial banking. Many of the career paths involve working within various areas of banking. However, this option can prepare students for other career paths related to banking, such as opportunities with government agencies that regulate and provide funding for the banking system, as well as careers in real estate, which is usually financed by banks.

Commercial Banking

Commercial Banking encompasses a variety of finance career paths that involve working for commercial banks. Commercial banks are financial institutions that take deposits from individuals and businesses and then earn money on those deposits by lending the money to individuals and businesses. Those loans can take many forms, including mortgages, business loans, car loans, and loans through credit cards. In addition to making loans, commercial banks offer numerous other services, including checking accounts, private banking (banking for wealthy people), credit cards, letters of credit, and cash management services for businesses. Commercial banks come in a variety of sizes, ranging from small local banks with only a handful of branches, up through regional banks such as BB&T and SunTrust, to international behemoths such as Bank of America.

Within Commercial Banking, there are a wide variety of career opportunities for finance majors. Some of these roles are more analytical in nature. Some focus on sales and customer relationships. Others involve managing people, processes and business operations within a bank. Yet other jobs involve dealing with laws and regulators. You can also divide the jobs into ones that deal with individuals and those which deal with corporate clients and their businesses.

Because of the wide variety of roles available within commercial banks, some banks have their new employees go through a rotational training program so that they gain a variety of experience, learn how the different jobs all fit together, and gain a better idea of which job is the best fit for them.