Corporate banking careers involve dealing with large commercial customers, providing services such as loans, treasury management, and payroll. High-paying careers include commercial lenders and treasury management sales representatives and risk analysts. Corporate banking also includes product development and operations specialists. Retail banking experience is often a prerequisite, and most banks require degrees in finance or accounting for treasury management roles. City or regional presidents typically oversee the corporate banking division.
There are many different corporate banking careers, but all employees employed in corporate banking primarily deal with the bank’s large commercial customers. Commercial customers have similar needs to consumer customers, such as loans and transactional needs, but commercial customers also require additional services, such as treasury management and payroll services. Major banks hire individuals with the specialist knowledge needed to handle every aspect of corporate banking, and corporate banking careers range from salespeople to underwriters.
Among the highest-paying corporate banking careers are commercial lenders, who receive a base salary and commission based on production. Commercial lenders must act as salespeople and try to attract new customers to the bank. Having agreed to establish a lending relationship with a particular customer, a commercial lender also needs to determine the terms of a loan. Experienced lenders can approve their own loans, but they need to have strong credit management skills so that the loans are profitable for the bank and competitively priced to attract customers.
There are many corporate banking careers in treasury management, including sales representatives and risk analysts. Sales representatives assemble product packages designed to meet the needs of a particular company. Business customers pay a flat fee for the service package, not service fees. Typically, treasury packages are comprised of deposit accounts, payroll processing, and payment processing. Risk analysts work with Treasury sales representatives and ensure that new customers are financially strong enough to meet product underwriting standards, such as payment processing, that require credit approval.
Behind the scenes, corporate banking careers include product development specialists who create new deposit products and lending options, and operations specialists who conduct regular audits of the bank’s corporate division. Operations specialists are typically experienced bankers with knowledge of bank and industry-wide operating procedures. The operations specialist typically reports directly to the city president and has a crucial role to play in ensuring that bank employees do not violate state or federal laws.
Employees trying to create careers in corporate banking typically have retail banking experience, which involves dealing with consumer clients and small business clients. Successful lenders are often pursued by corporate banking units and quickly move into commercial lending roles. Most large banks require people involved in treasury management to have degrees in finance or accounting, due to the complex nature of these roles. Many banks have a city or regional president who presides over the local area’s corporate banking division, and city presidents are typically individuals who have had experience in several different roles within the bank.
Protect your devices with Threat Protection by NordVPN
