How to Become a Bank Manager in USA

A bank manager performs supervisory duties, assigns tasks to different departments, oversees staff training, sets financial goals, resolves escalated customer issues, and compiles operations report to present it to the senior executives. This implies that a person working in this profile has to often juggle between the duties, and also has a lot in his or her plate. Hence, being a bank manager is no easy task, and lot of hard work goes into reaching to the rank of this high stature. 

In order to become a bank manager, an individual needs to have a lot of experience under his belt. Apart from this, the person must have a background in finance, economics, or business, and a thorough understanding of complete banking process. Here are the points that can be a perfect guideline for an individual aspiring to become a bank manager. 

Complete the required education 

To work in any profile, it is necessary that you meet the criteria first. It is evident that the employers want a person with finance background. So, getting the degree in business, finance, economics or accounting is the first thing to do. Some banking organizations also demand a master's degree in finance or accounting. 

Enroll in a specialization  

As it is a coveted position and also comes with a handsome package, the number of individuals eying for it are going to be in thousands for limited vacancies. So, to stand out in the crowd, your application must have something extra that projects you as the most suitable candidate. This can be specialized coursework or online certification programs. Many professional banking associations offer short-term courses or certifications in auditing, risk management, underwriting, and commercial mortgage. Including specialized certification in your resume would definitely add value to your application. 

Take an internship program 

To work in any industry, you first need to get a hang of it. Similarly, for working in a banking domain, you should know its different aspects. Since it is a high-level position, and requires some level of experience, it would be a wise decision to start from while studying. To get practical knowledge, you can consider an internship program or a part-time job to understand how the industry functions. It will not only give you a brief understanding of the various banking functions, but also make you reach closer to the employment door.

Get some banking experience  

As a bank manager is involved with the various departments in the organization, you need to have a basic knowledge of each role. Once you have completed your internship, it is likely that you would be starting with a junior profile such as a teller, assistant loan officer, or a junior credit analyst, and then progress ahead. As a bank manager's job is to interact with different departments, it is necessary that the applicant has prior experience of the same. The employer would definitely like to have a candidate who has handled cash flows, and complex customer issues since this role requires a person who can be trusted with additional responsibilities. 

Do the necessary certifications, and professional credentials 

It is necessary to upgrade your skills and knowledge for the role. Doing so will demonstrate your desire to be successful in the profile, and professional expertise achieved for that particular role. The banking industry also has various departments right from finance to retail to investment. Depending on your area of interest, obtain the necessary credentials. For instance, if your strength is accounting, you should go for CPA (Certified Public Accountant), or Certified Financial Planner (CFP) for solving issues related to finances. 

Reform your resume and apply for a job

To be employed for this prestigious position, start growing your network and become an active member of the banking affiliations. In addition, keep the notification alert on to know about the openings in the sector. While doing so, always maintain an up-to-date resume, and keep refining it to tailor as per the organization's requirements. If you do not have sufficient experience in the domain, then mention the assignments where you played a crucial role in achieving the targets or a few major accomplishments. 

A banking manager's job comes with a big list of responsibilities, and its own set of challenges. However, it has a few rewards as well. Apart from the lucrative six-figure income and immense respect in the society, these professionals are also accountable for taking complex, but crucial financial decisions within an organization. These leaders guide their teams in face of difficulties and  work under stressful situations to ensure smooth functioning of the bank. If you have a penchant for numbers, ability to solve critical issues, want to lead the team, and have a sound understanding of finance, try applying for bank manager's position. According to the U.S. Bureau of Labor Statistics, there is going to be a 7 percent increase in jobs for this role till 2024 and hence, the opportunities are going to be very high for individuals aspiring to make a career in this industry. 

What is a Research Analyst and Types of Research Analysts?

The bloodline of every type of industry is data. This could be about the market, prospective customers, emerging trends, business opportunities, finance, sales, income and expenditure, etc. So gathering, interpreting, and analyzing it is necessary for businesses to stay in the competition and carve a path for growth. But since it is a time-consuming job that requires strong analytical skills, including the ability to delve into and extract crucial information from the heaps of industry data, organizations hire research analysts. These research analysts study past and present data, determine what worked and what didn't, and prepare analytical report to enable businesses plan and implement strategic decisions for the future. Their skills are required by various sectors, and hence this research analyst occupation is found in every start-up, small, and big company. Here are some common types of research analysts.

Market Research Analyst 

With many brands developing similar products and a cut-throat competition, the businesses cannot rely on their gut feelings. So to find and attract customers, and ensure a good customer retention rate, organizations employ market research analysts. These analysts provide in-depth insight on market environment and consumer trends. They collect and interpret market data to refine marketing strategies. The market research analysts help in various duties like assessing ongoing trends, segmenting customers as per their preferences, collecting useful information, performing SWOT analysis, and identifying possible problems. These professionals are pivotal in refining the bottom line of a business as they assist in tapping business opportunities, minimizing risks, and formulating strategies according to changing customer requirements.

Marketing research analysts work with the marketing team, and play the role of information gatherers. They use an assortment of techniques such as surveys, opinion polls, questionnaires, customer feedback, and sales figures to chalk out performance plans.

Operations Research Analyst 

These analysts participate in all the aspects of an organization. They work with managers to allocate resources, manage supply chain, and  contribute in setting the prices of commodity and services. Operation research analysts can be referred to as problem-solvers as they use software and advanced techniques like big data, statistical analysis, and mathematical modeling to come up with cost-effective solutions. Their job also deals with problems related to labor and materials. Their tasks involve analyzing data, interpreting issues, and finding effective solutions. These professionals are required in various domains, and are employed in fields like businesses, health care, logistics, etc.


Economic Research Analyst 

The economic research analysts are accountable for researching significant trends in business and commerce. With their research, they communicate the effects these trends can have on a particular company or industry. In addition to this, they recognize the potential outcome of financial decisions made by the company. They are employed in private companies, financial institutions or federal government agencies. Their various tasks include collecting information through survey, analyzing the gathered data, preparing concise reports, and forecasting market trends. Furthermore, they are experts at giving advice and recommending solutions to solve the economic problems.


Financial Research Analyst 

Research analysts working in the finance domain assess the financial statements to draw conclusions on company finance. In addition to this, they also examine portfolios, funds and even estimate the investment risks. These analysts are employed in a variety of settings, including corporate, investment banks, financial institutions, security firms, other businesses, etc. that offer financial products. With the help of relevant software, these professionals give accurate forecasts, and even help in merging and acquisition of a firm.

Equity Research Analyst 

In addition to the financial research analyst, there is one more professional who studies the financial data and market trends for a company. He or she is known as equity research analyst, and can be involved with both the buy-side and the sell-side. Their job includes various duties like reviewing the annual balance sheets of a company, impending debt amount, current trends in the market, and existing legal liabilities. These resource analysts also oversee the performance of company's stock, bonds, and other financial instruments to compile an accurate equity research report. To work in this profile, an individual must have a bachelor's degree in relevant background such as finance, accounting, economics and business administration.

Technology Research Analyst 

These analyst carry out research on latest technology and prepare reports on the insights obtained. They work with the R&D department of the organization, and communicate how a new technology can expedite projects before the deadline, and ensure high client satisfaction rate. These research analysts also contribute actively to company's newsletters, blogs, and participate in conferences.


When you are working in the role of a research analyst, irrespective of the domain, you constantly need to keep yourself updated with the latest information. In addition to this, you must be able to demonstrate plans to overcome a problem, and derive innovative solutions for its resolution. An individual aspiring to work in this profile must be a pro in mathematics, have patience to carry out extensive research, must be a team player with exceptional communication skills.

Business Intelligence vs Business Analytics

Data is generated from a multitude of channels and to derive insights from them for the benefit of the business, business intelligence and business analytics play a crucial role. These are not new approaches that businesses adopt, but they surely are growing fast to meet all business challenges. They help businesses in analyzing data for effective decision-making processes, and also guiding various other strategies related to customer care, research, marketing, etc. While both use data analysis to improve the efficiency and viability of the business, these two processes are quite different. To help you understand clearly, we have described some of the important differences between these two:-

Difference in terms

Business intelligence (BI) includes practices, technology, architecture, strategies, etc. used by businesses to collect, analyze, and transform raw data into valuable and crucial business information to aid in taking better informed decisions. It supports in identifying new business opportunities, increasing its overall current operational efficiency, measuring and improving performance, etc. BI process is vast and involves data collection and mining, online analytical processing, querying, reporting, etc.

In Business Analytics (BA), with the employment of various statistical and quantitative techniques to analyze and maintain data and present information, businesses are able to improve their productivity and performance. Business analytics are of three types: descriptive (analyze and interpret historical data), predictive (analyze current and historical data), and prescriptive analytics (includes both predictive and descriptive analytics).


Difference on the basis of time

Business Intelligence doesn't dig into too much of why's or predict future, but they just list out both the past and current data and big trends to drive current business needs. This past and current data holds utmost importance as it helps in enabling informed decision-making, problem identification, and solutions, which further results in increasing operational efficiency and maintaining higher productivity of a business.

On the other hand, Business analytics uses historical data or past business performances from many source systems and attempts in predicting what will happen in the future. Business analytics helps in moving forward and predicting in a smarter way.

Difference on the basis of Tools 

SAP, IBM, Cognos, TIBCO, PowerBI, Microstrategy, QlikView, etc. are some of the most popular BI tools that help businesses to analyze the data, prepare and present their reports in easy and understandable format. These tools help business users to create actionable information, respond to various challenges, make innovative decisions, create intelligent dashboards, collect powerful data, cost reductions, access data in real-time, etc.

Introduction of new Business Analytics tools and software, with the use of statistical functions, mathematical figures, data mining, etc. help in determining past business trends which drives future markets and also allows businesses to be prepared for any adverse situations in the future. Some of the most popular BA tools are Tableau, SAS, Excel, Splunk, RapidMiner, Open Refine, Jaspersoft, etc.

Difference on the basis of benefits 

Business Intelligence

• Retaining a valuable customer is very important to increase sales and therefore, business productivity. It helps organizations keep abreast of the latest sales trends by keeping tracks of their valuable customers' preferences and buying habits, promoting products through discounts and offers, maintaining effective communications with them, etc.
• By monitoring market trends to determine customer preferences, businesses use BI to maximize their marketing efforts by prioritizing campaigns, promotions, analyzing campaigning results, engaging in social media, etc. which enables them to make best marketing decisions and strategies that will eventually lead to better ROI.
• It helps businesses in making complicated decisions in a real-time with the information they receive and this is because of the involvement of powerful elements in it such as ad-hoc reporting, predictive analytics, mobile business intelligence, application integration, etc. Also, BI helps in providing various tools to business users that helps in analyzing, tracking and maintaining data to better understand operations and thus, make better decisions.
• It helps to increase business productivity and growth by increasing operational efficiency, measuring company’s progress and performance across several key sectors such as cost, time, resources, scope, quality, etc. diagnosing and solving various problems before they turn into bigger risks or threats, organizing and managing all the data including the hidden or lost ones, gaining competitive advantage over business rivals, collaboration with other businesses through data sharing, etc.

Business Analytics

• It helps in maximizing customer value for businesses by identifying repeat customers, and also providing ways to optimize marketing investment
• BA helps companies to make smart decisions in a short period of time, which is important for a business to stay ahead of a competition and increase its productivity. It provides faster and greater insight of data and trends with the help of data visualization, including charts, graphs and visual aids, etc. and therefore, leads to faster decision-making.
• Businesses can explore historical data using BA software and techniques. With predictive analysis, they can predict and be prepared for future problems or challenges. Also, staying abreast of the latest forecasts can give rise to innovative ideas, services, and information for promoting company’s growth.
• Many organizations that use business analytics can gain and maintain a competitive advantage because of their advanced yet effective database management processes and techniques, integration and analysis of business data into valuable information or strategies, efficient tools for presenting and sharing data within their businesses and exploring new and useful data for better outcomes, etc.
 
Difference on the basis of users

Industries that are using Business Intelligence include oil industry for marketing and reducing costs;  retail industry to reduce theft by tracking products quantity; apparel industry to track the latest trends and survey competitors with the help of visualization tools;  food industry to maintain sustainability, equipment efficiency, etc.  libraries to manage their resources.

Business Analytics are used in financial markets including investment banking, financial planning, budgeting, forecasting, etc. mining sites, manufacturing for measuring target performance, supply chain management; CRM to boost relationship with customers; HR for finding candidate’s  or employee’s information; marketing to analyze trends, appeal customers through advertising techniques, etc; healthcare sectors, E-commerce, etc.



Both BI and BA are widely used by businesses. Despite their differences, they have the same objective of providing businesses with effective methods and tools to use data and also support decisions that further help in their growth and development.