How to become a Bank Officer

Bank officers (including building society and credit union officers) receive and pay out money and assist customers with loans, foreign currency exchange and investments.

Personal requirements of a Bank Officer

  • Good communication and interpersonal skills
  • Able to make calculations quickly and accurately
  • Good organisation skills
  • Willing to transfer to other branches if required

Education & Training for a Bank Officer

You can work as a bank officer without formal qualifications. You will probably get some informal training on-the-job. Entry to this occupation may be improved if you have qualifications. You may like to consider a VET qualification in banking services, financial services, banking services management, accounts administration, accounting or bookkeeping. As subjects and prerequisites can vary between institutions, you should contact your chosen institution for further information. You can also become a bank officer through a traineeship in Financial Services or Banking Services. Entry requirements may vary, but employers generally require Year 10. For more details, see Section 2. Ask your career adviser about the possibility of starting some of this training in school. Alternatively, you can become a bank officer by completing a business, commerce or economics degree with a major in banking or finance. To get into these courses you usually need to gain your Senior Secondary Certificate of Education. Prerequisite subjects, or assumed knowledge, in one or more of English and mathematics are normally required. Most universities in Australia offer degrees in these areas. Universities have different prerequisites and some have flexible entry requirements or offer external study. Contact the institutions you are interested in for more information.

Duties & Tasks of a Bank Officer

Bank officers may perform the following tasks:

  • identify customer needs and refer customers to appropriate banking services and specialists
  • accept money or cheques deposited by customers, verify records and receipts, and credit customers’ accounts
  • pay money to customers according to advice slips, cheques or negotiable documents, and debit customers’ accounts
  • assess the viability and credit risk of business and consumer loan proposals
  • conduct foreign currency transactions for overseas travellers
  • provide change and cash cheques
  • record transactions
  • balance cash and advise supervisors of cash position or discrepancies
  • answer customer enquiries
  • open and close accounts for customers.

Working conditions for a Bank Officer

Most bank employees work in a branch network where customers are mainly individuals and local businesses. Bank officers can request transfers to work in other branches and departments.

Employment Opportunities for a Bank Officer

Bank, building society and credit union officers are employed in a variety of financial institutions, including merchant banks, finance companies, insurance companies and stockbroking firms. The banking and financial industries are currently undergoing rapid change. Branch closures and the introduction of new technology and new ways of conducting banking business are affecting employment demand. The banking industry periodically reduces its workforce. Competition is strong for entry-level vacancies. Contact individual financial institutions for recruitment information. There are many different career paths available. Staff transfers are an important part of the banking industry and, throughout their careers, officers may be required to serve in a number of locations. Transfers within a metropolitan area can be required and may include working in administrative departments as well as branch offices. Transfers to regional locations are not usually required. However, accepting a transfer can assist career advancement and promotion opportunities.

Specialisations:


Bank Teller/Customer Service Officer

A bank teller/customer service officer sells and administers bank products and services, handles cash and processes personal and business credit cards, overdraft and personal loan applications.


Credit Officer (Lending/Loans Officer)

A credit officer (lending/loans officer) assesses the viability and credit risk of business and consumer loan proposals, and controls and processes accounts.


International/Overseas Officer

An international/overseas officer deals with international finance enquiries and transactions for customers, including documentation for importing and exporting.


Operations/Accounts Officer

An operations/accounts officer performs clerical duties such as opening and sorting mail, filing correspondence and documents, recording items paid to and cashed by the tellers, and processing and updating daily transactions.


Telephone Consultant (Banking)

A telephone consultant (banking) assists customers with banking requirements over the telephone, sells bank products and services, and assists customers with loan applications.

Additional Information
Officers who wish to be considered for promotion are encouraged to undertake further studies and may receive study assistance from their employers to do so.
Related careers