money matters for students

Banking

1. Teller

Standard job description

Receive and pay out money. Keep records of money and negotiable instruments involved in a bank's various transactions.

Skills

A bank teller must be apt at using mathematics to solve problems with knowledge of arithmetic and counting money to make change. In order to be efficient he/she must give full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. He/she must be patient and polite and be good at managing time.

Tasks

A teller's main responsibilities are handling cash and customer transactions which includes cash receipts, deposits &payments, cash balancing and non-cash transactions like DD/MC/TC, fund transfers etc verifying signatures and accuracy of deposit slips when receiving or giving cash to the customers. 

He/she would have to balance currency, coins, and cheques in cash drawers at ends of shifts and update register on EOD cash position, instruments issued, branch audit & compliance. He/she may also have to act as the Vault custodian. 

Educational Qualifications 

Most private banks prefer M Com, MBA/PGDM (MA, MCA will also do).

2. Probationary Officer

Standard job description

After probation period ranging from 6 months to 2 years candidates are posted as assistant managers or other officers in branches.

Skills

A bank probationary officer should ideally have excellent communication skills and managerial skills and possess the ability to resolve conflicts calmly. He/she must be a fast learner and adapt quickly to changing environments. 

Tasks

A probationary officer is trained for accounting, marketing, finance, investment as well as billing requirements of the bank. He/she may encounter activities like originating and approving banking transactions, swift execution of day-to-day banking transactions by using bank's core software, handling daily customer transactions like passing a cheque, cash management, and draft issuance. He/she is expected to  gain in-depth understanding of various products of bank - Credit/ loans, deposits, cash management, foreign exchange & NRI products, etc and of various customer bases of bank - corporate, retail, HNIs, SMEetc. 

He/she will deal with complaints over issues such as charges, discrepancies in accounts, sometimes services at the bank andgradually evolve to the level of achieving targets fixed for each officer in respect of deposits, advances, profit, other income etc.

Educational Qualifications

The general criterion is bachelor's degree in any discipline with basic knowledge of computers. Candidates are selected through written tests and interviews.

3. Risk Analyst

Standard job description

Ensuring that the bank is making lending decisions, according to acceptable industry practice.

Skills

A risk analyst must understand the complex calculations that underpin risk assessment. He/she must have the ability to pay attention to detail and be very organized. He/she possess good analytical and investigative skills.

He should be able to use logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems and in determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes. He/she must be able to identify measures or indicators of system performance and the actions needed to improve or correct performance, relative to the goals of the system.  He/she must be able to gaugethe implications of new information for both current and future problem-solving and decision-making.

Tasks

A risk analyst's job description includes reviewing lending criteria system on a regular basis, involving in account management duties, regularly liaising with industry experts to discuss risk assessments, presenting regular reports to senior managers as well as collaborate with other strategic teams within the organization. 

He/she would also perform portfolio monitoring and analysis for the different loan portfolios of the bank with the aim of supporting the policy units in the areas of sourcing and portfolio management. He/she would be co-coordinating with the internal IT team for providing data support to the various teams within the Bank. 

Educational Qualifications 

Most private banks require a post graduation in finance. Prior experience in SAS, SPSSis an advantage.

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