Employers

Financial managers and related workers hold approximately 653,600 jobs. They primarily work for commercial banks, credit unions, savings and loan associations, and mortgage and finance companies. 

Starting Out

One way to enter banking as a regular employee is through part-time or summer employment. Anyone can apply for a position by contacting a financial institution officer in charge of personnel to arrange for an interview. Many institutions advertise job openings on Web sites as well as on employment Web sites and in local newspapers. The larger banks recruit on college campuses. A recruiter will visit a campus and conduct interviews at that time. Student career services offices can also arrange interviews. Some experienced financial institution officers and managers use the services of executive recruiters to learn about job openings.  

There is no one method for advancement to top-level positions (i.e., treasurer, controller, vice president, president) among financial institution officers. Advancement depends on the size of the institution, the services it offers, and the qualifications of the employee. Usually, the smaller the employer, the slower the advancements.

Financial institutions often offer special training programs that take place at night, during the summer, and in some special instances during scheduled working hours. People who take advantage of these opportunities usually find that advancement comes more quickly. The American Bankers Association, for example, offers training in every phase of banking through its own facilities or the facilities of local universities and banking organizations. The length of this training may vary from six months to two years. Years of service and experience are required for a top-level financial institution officer to become acquainted with policy, operations, customers, and the community. Similarly, the National Association of Credit Management offers training and instruction.

Read publications such as Bank Director (https://www.bankdirector.com) to learn more about the field.

Visit the following Web sites for job listings:

• http://aba.careerbank.com
• https://www.afponline.org/careers/career-center/afp-global-career-center
• https://careers.cfainstitute.org
• https://careers.financialexecutives.org
• http://www.efinancialcareers.com

Try to gain experience and excel in lower-level positions such as loan counselor to increase your chances of being considered for management trainee programs sponsored by your employer.

Become certified in order to show employers that you have met the highest standards established by your industry.