Bank managers run one or more retail branches of a high street bank. They are responsible for increasing their branch’s sales of financial products and services, keeping existing customers and attracting new ones.

Their work involves:

• developing a business plan
• monitoring sales targets and budgets, and producing figures and reports
• motivating staff to meet targets
• understanding the needs of individual and business customers
• maintaining brand image and corporate policies
• being responsible for staff supervision and training
• making sure that staff follow rules and procedures to prevent fraud
• dealing with any complaints
• attending meetings or conferences
• promoting the bank's image in the local community.

The financial services industry has changed in recent years, with:

• a rise in internet and telephone banking
• stricter regulations and laws to prevent financial crime
• greater competition between banks and building societies offering similar products.

This means that bank managers are now more likely to be involved with business planning and less likely to have direct contact with customers.

Hours and Environment

As a bank manager in a retail branch you will usually work 9am to 5pm, Monday to Friday, with some Saturday mornings. Part-time work and job sharing may be available.

You will be office-based, but will spend some of your time attending meetings. If you are responsible for several branches you will be expected to travel regularly between them.

Formal business dress is expected.

Skills and Interests

• management experience, ideally in the financial sector
• excellent communication and ‘people’ skills
• the ability to lead and motivate staff
• problem-solving and decision-making ability
• marketing, sales and IT skills
• business focus
• honesty and integrity
• willingness to work within a corporate structure.

Entry

You can become a branch manager either by joining a management training scheme, or after being promoted from other roles within the building society.

Management training schemes
You will usually need a good honours degree (class 2:2 or above) in business studies, finance , management, economics or accounting. Some banks may accept you with a degree in another subject, or with A levels/Highers and some relevant work experience.

Please check with colleges or universities for degree entry requirements.

Promotion
The other main way into branch management is to be promoted from a role such as senior cashier or specialist customer services adviser. You will need supervisory experience and a good track record in meeting sales targets.

If you are aiming for management, you may help your career by taking qualifications from the Institute of Financial Services (IFS) or the Chartered Institute of Bankers in Scotland (CIOBS), such as:

• IFS Professional Diploma in Financial Services Management (Professional DFSM)
• IFS Applied Diploma in Corporate Banking
• IFS Applied Diploma in Retailing Financial Services
• CIOBS Diploma in Financial Services.

See the IFS or CIOBS websites for more details.

Training

As a trainee manager, you will usually follow a structured in-house training programme that will take around two years to complete.

Your training is likely to include studying for the IFS BSc (Hons) in Financial Services and Associateship, which leads to a degree qualification and Associate membership of the Chartered Institute of Bankers. You can study through block release or distance learning. To qualify for the programme, you will need a degree (in any subject), or an IFS Diploma-level course. See the IFS website for more information.

In Scotland, you will take the CIOBS Chartered Banker programme. To qualify for this, you will need a HNC/HND, a degree or the CIOBS Diploma in Financial Services. See the CIOBS website for more details.

You could also study for a Master of Business Administration (MBA) postgraduate degree.

Opportunities

Banks have centralised some services to regional or overseas contact centres, but there are still opportunities to manage retail branches all over the UK.

As a bank manager you will often be expected to relocate to other areas, so it will help your career if you are prepared to be flexible and mobile.

There is usually a clear promotion structure, from branch manager to area and regional manager. From there you could progress into operations management, or into other senior roles in the personnel, marketing or international departments of head office.

You could also transfer your skills into other financial services management work, for example in investment companies, pensions or insurance. With some further training, you could also choose to move into working as an independent financial adviser (see the Financial Adviser profile for more details).

Annual Income

Figures are intended as a guideline only.

Managers on training schemes usually earn between £18,000 and £25,000 a year.
Experienced managers usually earn £25,000 to £40,000.
Regional and head office managers can earn £50,000 to £100,000 a year.

Other benefits can include profit-related bonuses, subsidised mortgages, loans, pensions, shares and insurance.

Further information

IFS House
4-9 Burgate Lane
Canterbury
Kent
CT1 2XJ
Tel: 01227 818609 Drumsheugh House
38b Drumsheugh Gardens
Edinburgh
EH3 7SW
Tel: 0131 473 7777 51 Gresham Street
London
EC2V 7HQ
Tel: 0845 257 3772