Clerk

A Bank Clerk, also known as teller, is a financial service professional. He / She serves as the primary point of contact for most bank customers, administering basic banking transactions and answering most questions. This role is seen as an entry level position.

Job Responsibilities

When handling withdrawals, He / She verifies customer signatures and also examines their photo identification to ensure the validity.

He / She records all transactions made by entering notes into the bank’s computer system, accepts loan payments on behalf of her employer’s lending department.

He / She answers all customer questions and resolves any issues or problems with their accounts, referring the issue to the branch manager if necessary.

He / She promotes and educates customers on the bank’s products and services, such as credit cards, money market accounts and individual retirement accounts (IRAs).

He / She also ensures that the balance of her money drawer is accurate. There are various other clerical roles you could be involved in as a bank clerk to help keep the bank in order. Just like any other business, banks need help with general tasks, such as data entry, filing, mail handlers, and messengers. As a bank clerk, you could be separated into one of the following:

A Bank Clerk accepts deposits and cashes checks, paying money to customers after validating the signatures on the check and fund availability.

Interest Clerk: Recording interest owed to saving accounts customers and interest owed to the bank from loans and other investments.

Loan Clerk:  Recording and organizing loan information.

Statement Clerk: Preparing the monthly balance sheets of checking account customers.

Exchange Clerk: Working on international accounts, translating foreign currency into pounds sterling and vice versa.

Security Clerk: Recording, filing and looking after stocks, bonds and other investment documents.

Book keeping Clerk:  Taking care of records for each customer’s account.

Required studies and skills

Usually, a bank clerk will need not only college, but also a superior education level, which can be any faculty related to the economic field (Economics, Finances, Marketing, Management, Accountability etcetera).

Educational Requirements

To gain employment as a bank clerk, a candidate must possess a degree or equivalent. While not typically required, employers tend to favour those who possess or are working toward a four-year degree, preferably in accounting, finance or a related field of study. He must also show an aptitude for mathematics, as well an understanding of the use of computers and other electronic equipment.

To be a good bank clerk, you must have:

Required studies and skills

Usually, a bank clerk will need not only college, but also a superior education level, which can be any faculty related to the economic field (Economics, Finances, Marketing, Management, Accountability etcetera).

Educational Requirements

To gain employment as a bank clerk, a candidate must possess a degree or equivalent. While not typically required, employers tend to favour those who possess or are working toward a four-year degree, preferably in accounting, finance or a related field of study. He must also show an aptitude for mathematics, as well an understanding of the use of computers and other electronic equipment.

To be a good bank clerk, you must have:

The ability to work neatly and accurately

Good written and verbal communication skills

Good numeracy and calculation skills

Good IT skills and computer literacy

An honest and trustworthy nature

A good attention to detail

IBPS Clerk

 

SBI CLERK

SBI Associate Clerk

 

RBI Assistant


Probiationary officer PO

A Bank Probationary Officer (PO) in the bank is the starting level appointment for bank officers and the promotional prospects are quite healthy with the work as it defining the limit for the candidate’s success.

Since candidates join the bank at a junior level, they are being called Probationary Officer (PO) during the probation period (need to work as an entry-level job inside the bank for two years) and later they will be promoted as an assistant manager.

Job Profile

The bank assistant manager works closely with the bank manager to ensure that all the processes and services a bank offers runs smoothly. He assists in directing and managing the tellers’ and loan officers’ jobs. He makes daily schedules and duties as well as trains the newly hired employees with the using of the machines and the like.

A bank assistant manager is just as responsible as the bank manager for the overall success or failure a bank faces. He is responsible in assisting the bank manager in training all the bank employees to do their job well. They help in budgeting of the banks expenses and help create a fool-proof daily routine that the employees can follow. Bank assistant managers help the bank manager in a lot of his duties and tasks.

Roles and Responsibilities

While on job, here are some of the important responsibilities of probationary officer (or Assistant Manager) in banks.

The primary duty is to assist and support thebank managerin operating the bank functions.

He or she has to oversee the functions of the bank that if they are running smoothly and manage the trivial things without bothering manager.

He or she has the duty to takecareof hiring new employees when needed and arranging their training for their development.

He or she also has to takecareof the customers so has to help and solve customer concerns and queries.

He or she has also to look into the matter of marketing of the policies of the bank.

He or she has to prepare thereportsabout the performance of the bank for showing to the manager.

He or she will be responsible for all the duties and functions in the absenceof manager.

It will be the duty to motivate the employees after evaluating their performance.

He or she has to take part actively in the meetings regarding sanctioning of loans and other financial decisions of the bank.

Service Customers

All banks rely on customers for their business. So servicing the customer is the foremost necessity for an officer by giving them the information they asked.

You, as a “PO” will be asked to look into customers coming for opening new accounts, ATM cards, deposits, receipts, loans, cheque books etc.,

Bring New Business

Since you are dealing with customers directly, it is naturally expected of you to promote various products of the bank & its partners to them. It may include fixed deposits, insurance policies, mutual funds, credit cards etc.,

Handle Cash

Cash disbursal & collection from cashiers are normally done through the counters manned by clerks.

Payment Clearances

Although a clerk performs most cash transactions, some payments by way of cheque, DD, NEFT/ RTGS beyond a certain amount need to be authorized & cleared only by a person of officer cadre.

Report Verification

With the introduction of core banking solutions, all the work done in a day should be properly closed to avoid any mismatch. While every employee has some day-end work, PO`s would be assigned to generate reports which may include the deposits, withdrawals, ledger balances etc.,

Official Communication

Just like in any MNC or IT company, all employees receive numerous emails which could be related to new rules or schemes or products. A probationary officer may be asked to keep a track of these latest developments to improve their product knowledge as they will be interacting with customers more.

The manager could also ask you to send official replies or letters to other departments for want of information or provide them with required info. So PO’s are required to be well versed in all the branch activities because on promotion, they will be elevated to the cadre of ‘Branch Manager’.

Educational Qualification

The education and qualifications of a bank financial manager are:

  • The basic degree required for the job is a bachelor’s degree in finance, economics and accounting
  • An MBA degree is necessary for quick growth in the banking sector
  • The candidate will get distinct advantage of the past working experience in different levels of the banking sector
Skills and Specifications

The skills and specifications required to be a bank assistant manager are as follows:

  • The candidate should have thorough and deep knowledge in the finance, accounting and economics
  • He or she should be aware of all financial rules and regulations of the government
  • He or she should be able to mange the employees so should have exceptional leadership and motivational skills
  • He or she should be able to resolve the quires and customer concerns in short , should have extraordinary customer service skills
  • He or she should be able to maintain the confidentiality so must be honest regarding the financial dealings of the bank
  • He or she should be a good communicator both verbally and written so should have excellent communication skills with the negotiation skills as well.
  • He or she should have team working skills so will be able to work as a part of a team.

What is the Salary of Bank PO?

Specialized Officers(SO)

While the pay scale for PO (scale I) ranges between Rs. 35,000 – 50,700, the actual salary could be approx. Rs. 50,000 – 60,000 per month (including allowances) depending on your location.

What are the duties of Specialist Officers in the Bank? How their role is different from Clerk, PO positions?

Like any office, a bank requires people for keeping it’s “nuts and bolts” intact. While the Probationary Officers and Clerks run the day-to-day operations and business in a bank, the role of a Specialist Officer (SO) sprawls in the background activities, especially in the following areas.

Like any office, a bank requires people for keeping it’s “nuts and bolts” intact. While the Probationary Officers and Clerks run the day-to-day operations and business in a bank, the role of a Specialist Officer (SO) sprawls in the background activities, especially in the following areas.

It would be the responsibility of IT officers to oversee the technological perspectives of banking affairs, both software, and hardware. Nearly all banks contracting in the “IBPS recruitment” have shifted to core-banking for operations, and they use software like FLEX CUBE, Finacle, BanCS, SAP, etc. An IT officer will undergo training in all these domains; they should be able to service, configure troubleshoot the software, computers and networks that run the banking business.

An IT officer in a senior manager role should be able to the assess the future IT interests of the bank, plan scaling, issue tenders, and report IT vacancies to the HR department. In this age of e-Banking, IT officers play a crucial role in acquiring more customers to the bank: no reason why the IT specialists contribute maximum number of jobs after management posts.

Duties of Lawyers as Specialist Officers:

Lawyers work on forming the policies of the banks in consultation with senior managers. The instructions and conditions we see in a loan, savings, credit card applications are documented and verified by practicing lawyers. They appear for the respective banks in Courts, process notices to the defaulting customers, and help a bank in taking over attached properties, etc. They are also responsible for making it sure that the bank functions in compliance with the law of the land.

Role of a Bank specialist as Agriculture Field officer:

The primary responsibility of an Agriculture officer is to promote banking services among farmers and cultivators. They have to evaluate the property and assets of potential customers and suggest a reliable approach for increasing the crop yield and performance, in such way that it would profit the banks. They should be able to communicate new technologies (Eg: Greenhouse and Hi-Tech farming ) to farmers, and explain about related financial products (Eg: Kisan Credit Cards) or loans available to them.

Duties of Chartered accountants as Specialist Officers:

CA or Chartered accountants do auditing and are the heads of all accounting in a bank. Charted Accountants hold top offices as financial planners, tax gurus and advisers to the General Managers. They are responsible for formatting and checking the accuracy of profit/loss statements and other documents for the investor community. They should be able to provide suggestions for the profitable operation of the bank based on RBI policies and other factors.

Role of a Marketing Specialist Officer:

Duty of an officer in this category is to improve the profits and market presence of the bank through various campaigns and promotions. They should have a precise perception about the financial products of the bank, and they may have to devise plans to sell it to the high net-worth individuals and others. In a sum, lead-generation and follow-up are the fundamental roles of marketing officers.

Duties of Specialist Officers in HR Cadre:

A Human Resources professional plays a critical role in any institution. Junior HR officers in a Bank usually handle the training and induction of new employees, circulating appraisal forms, forming leave schedules, creation of salary accounts, etc. Senior HR managers conduct interviews, take classes, deal with labor laws, promotion and other serious matters. In fact, it is HR specialist officers who report the open vacancies in a Bank to recruiting agencies like IBPS.

Rajbhasha Adhikari: 

The Specialist Officer in an Indian Bank who deals with the National language is a Rajbhasha Adhikari. The individual applying for the post of Rajbhasha Adhikari should be able to create error-free Hindi documents, and translate smoothly between Hindi, English and other regional* languages.

Salary and other benefits available to Specialist officers

Specialist Officers enjoy a plethora of perks in Indian banks, usually equivalent to the Probationary Officers (PO) in the same rank. As of 2015, the starting salary of an IBPS Specialist Officer is around 30500 INR in rural cities. You can calculate the in-hand salary by adding the Basic Pay with the latest DA component given Indian Banking Association’s website, HRA and the City Compensatory Allowance, if any. The range of benefits provided to a Specialist Officer vary with the financial institution: many of them provide newspaper/laundry allowances, medical coverage, TA and rented accommodation..

Specialist Officers will get adequate training in respective departments before their appointment to the JMG (Junior Management) Scale I position. They will be promoted to JMG Scale II to and MMG (Middle Management) Scales in the upcoming years based on performance in tests/interviews, and service rules. Experienced hands may directly join the JMG Scale II post by clearing the relevant IBPS Specialist Exam.

IBPS specialist recruitment process

Standard hiring process in Indian PSU banks involves a combination of entrance exam and interviews. IBPS’s recruitment facility suite the requirement of the banks, and now more than 25 PSU banks prefer their platform for joint recruitment of officers.

The major part of IBPS’s Specialist recruitment is the Online exam that they conduct every year in the month February. Candidates wishing to attend the IBPS Specialist Exam have to apply for the same through IBPS website in advance, usually in the last months of the preceding year. Have a look at the schedule of latest/upcoming IBPS specialist exam registrations, below this line.

RRB

Regional Rural Banks are local level banking organizations operating in different States of India. They have been created with a view to serve primarily the rural areas of India with basic banking and financial services. However, RRB’s may have branches set up for urban operations and their area of operation may include urban areas too.

The area of operation of RRBs is limited to the area as notified by Government of India covering one or more districts in the State. RRB’s also perform a variety of different functions.

RRB’s perform various functions in following heads
  1. Providing banking facilities to rural and semi-urban areas. Carrying out government operations like disbursement of wages of MGNREGA workers, distribution of pensions etc.
  2. Providing Para-Banking facilities like locker facilities, debit and credit cards.

List of Regional Rural Banks

  • Allahabad UP Gramin Bank
  • Andhra Pradesh Grameena Vikas Bank
  • Andhra Pragathi Grameena Bank
  • Arunachal Pradesh Rural Bank
  • Assam Gramin Vikash Bank
  • Bangiya Gramin Vikash Bank
  • Baroda Gujarat Gramin Bank
  • Baroda Rajasthan Kshetriya Gramin Bank
  • Baroda UP Gramin Bank
  • Bihar Gramin Bank
  • Central Madhya Pradesh Gramin Bank
  • Chaitanya Godavari Grameena Bank
  • Chhattisgarh Rajya Gramin Bank
  • Dena Gujarat Gramin Bank
  • Ellaquai Dehati Bank
  • Gramin Bank of Aryavart
  • Himachal Pradesh Gramin Bank
  • J & K Grameen Bank
  • Jharkhand Gramin Bank
  • Karnataka Vikas Grameen Bank
  • Kashi Gomti Samyut Gramin Bank
  • Kaveri Grameena Bank
  • Kerala Gramin Bank
  • Langpi Dehangi Rural Bank
  • Madhya Bihar Gramin Bank
  • Madhyanchal Gramin Bank
  • Maharashtra Gramin Bank
  • Malwa Gramin Bank
  • Manipur Rural Bank
  • Meghalaya Rural Bank
  • Mizoram Rural Bank
  • Nagaland Rural Bank
  • Narmada Jhabua Gramin Bank
  • Odisha Gramya Bank
  • Pallavan Grama Bank
  • Pandyan Grama Bank
  • Paschim Banga Gramin Bank
  • Pragathi Krishna Gramin Bank
  • Prathama Bank
  • Puduvai Bharthiar Grama Bank
  • unjab Gramin Bank
  • Purvanchal Bank
  • Rajasthan Marudhara Gramin Bank
  • Saptagiri Grameena Bank
  • Sarva Haryana Gramin Bank
  • Sarva UP Gramin Bank
  • Saurashtra Gramin Bank
  • Sutlej Gramin Bank
  • Telangana Grameena Bank
  • Tripura Gramin Bank
  • Utkal Grameen Bank
  • Uttar Bihar Gramin Bank
  • Uttarakhand Gramin Bank
  • Uttarbanga Kshetriya Gramin Bank
  • Vananchal Gramin Bank
  • Vidharbha Konkan Gramin Bank

The Organizational Structure for RRB’s varies from branch to branch and depends upon the nature and size of business done by the branch. The Head Office of an RRB normally had three to seven departments. The following is the decision making hierarchy of officials in a Regional Rural Bank.

  • Board of Directors
  • Chairman & Managing Director
  • General Manager
  • Chief Manager/Regional Managers
  • Senior Manager
  • Manager
  • Officer / Assistant Manager
  • Office Assistant (Multipurpose)

Insurance

The insurance industry of India consists of 53 insurance companies of which 24 are in life insurance business and 29 are non-life insurers. Among the life insurers, Life Insurance Corporation (LIC) is the sole public sector company. Apart from that, among the non-life insurers there are six public sector insurers. In addition to these, there is sole national re-insurer, namely, General Insurance Corporation of India (GIC Re). Other stakeholders in Indian Insurance market include agents (individual and corporate), brokers, surveyors and third party administrators servicing health insurance claims.

It would be the responsibility of IT officers to oversee the technological perspectives of banking affairs, both software, and hardware. Nearly all banks contracting in the “IBPS recruitment” have shifted to core-banking for operations, and they use software like FLEX CUBE, Finacle, BanCS, SAP, etc. An IT officer will undergo training in all these domains; they should be able to service, configure troubleshoot the software, computers and networks that run the banking business.

An IT officer in a senior manager role should be able to the assess the future IT interests of the bank, plan scaling, issue tenders, and report IT vacancies to the HR department. In this age of e-Banking, IT officers play a crucial role in acquiring more customers to the bank: no reason why the IT specialists contribute maximum number of jobs after management posts.

Duties of Lawyers as Specialist Officers:

Lawyers work on forming the policies of the banks in consultation with senior managers. The instructions and conditions we see in a loan, savings, credit card applications are documented and verified by practicing lawyers. They appear for the respective banks in Courts, process notices to the defaulting customers, and help a bank in taking over attached properties, etc. They are also responsible for making it sure that the bank functions in compliance with the law of the land.

Role of a Bank specialist as Agriculture Field officer:

The primary responsibility of an Agriculture officer is to promote banking services among farmers and cultivators. They have to evaluate the property and assets of potential customers and suggest a reliable approach for increasing the crop yield and performance, in such way that it would profit the banks. They should be able to communicate new technologies (Eg: Greenhouse and Hi-Tech farming ) to farmers, and explain about related financial products (Eg: Kisan Credit Cards) or loans available to them.

Duties of Chartered accountants as Specialist Officers:

CA or Chartered accountants do auditing and are the heads of all accounting in a bank. Charted Accountants hold top offices as financial planners, tax gurus and advisers to the General Managers. They are responsible for formatting and checking the accuracy of profit/loss statements and other documents for the investor community. They should be able to provide suggestions for the profitable operation of the bank based on RBI policies and other factors.

Role of a Marketing Specialist Officer:

Duty of an officer in this category is to improve the profits and market presence of the bank through various campaigns and promotions. They should have a precise perception about the financial products of the bank, and they may have to devise plans to sell it to the high net-worth individuals and others. In a sum, lead-generation and follow-up are the fundamental roles of marketing officers.

Duties of Specialist Officers in HR Cadre:

A Human Resources professional plays a critical role in any institution. Junior HR officers in a Bank usually handle the training and induction of new employees, circulating appraisal forms, forming leave schedules, creation of salary accounts, etc. Senior HR managers conduct interviews, take classes, deal with labor laws, promotion and other serious matters. In fact, it is HR specialist officers who report the open vacancies in a Bank to recruiting agencies like IBPS.

Rajbhasha Adhikari: 

The Specialist Officer in an Indian Bank who deals with the National language is a Rajbhasha Adhikari. The individual applying for the post of Rajbhasha Adhikari should be able to create error-free Hindi documents, and translate smoothly between Hindi, English and other regional* languages.

There are two more specialized insurers belonging to public sector, namely, Export Credit Guarantee Corporation of India for Credit Insurance and Agriculture Insurance Company Ltd for crop insurance. India’s life insurance sector is the biggest in the world with about 360 million policies which are expected to increase at a Compound Annual Growth Rate (CAGR) of 12-15 per cent over the next five years. The insurance industry plans to hike penetration levels to five per cent by 2020.

The Indian insurance market is a huge business opportunity waiting to be harnessed. India currently accounts for less than 1.5 per cent of the world’s total insurance premiums and about 2 per cent of the world’s life insurance premiums despite being the second most populous nation. The country is the fifteenth largest insurance market in the world in terms of premium volume, and has the potential to grow exponentially in the coming years.

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