A bank president is a monetary services manager who oversees banking processes, development, strategies and practices a variety of other strategic goals set forth by the Chief Executive Officer and Board of Directors of a consumer bank. The bank president usually reports to the CEO and has several direct reports accountable for a diversity of lending, deposit, savings, credit and other consumer banking products. Most bank presidents also have a seat in the Board of Directors.
How Bank Hire a President:
Most bank presidents have been with their individual companies for a number of years; consequently entry into an exact bank is difficult, but possible for the right applicant. Some banks look to the market for skilled candidates they can “poach” from competitors. Candidates looking to move to a challenger will seek out a headhunter or other banking employment expert to discuss their resume and any opportunities the recruiter may know about in the market.
The main job responsibilities of a bank president are to guarantee the consumer banking operations are useful and exceeding client’s expectations by setting up and developing strategies surrounding investment, loan and interest reserve policies. These policies must guarantee wonderful financial returns as this is the most basic way a successful consumer bank operates: clients make deposits and banks use those deposit to issue lines of credit.
A bank president is also responsible for both internal and external communication and marketing of monetary products. He or she may delegate some of these responsibilities to directors who work below the bank president.
Other responsibilities include speaking on behalf of the bank in the media, speaking at meetings on behalf of the bank, planning and observing budgets and other monetary activity.
Skills and Qualities Required:
Bank presidents are continually in the limelight both at work and outside in the public eye. Therefore, he or she must have an expert manner at all times and have a strong code of principles. During times of crisis an expert banking president should have the capability to remain calm, communicate efficiently and show strong leadership abilities. Vast information of monetary terms and banking products is critical.
An undergraduate degree in finance or accounting is necessary, though most bank presidents also have a graduate degree and take a variety of management qualifications or specialized memberships.