Careers in Banking

Banks have developed from places where people could keep their money safe, to places where people’s increasing and diverse financial needs can be meet. Banks have several divisions or departments, which provide financial services to the public and are responsible for the administration of the bank as an organisation.

Job Characteristics

The following are the different departments and specialised areas in banks:
 

Internal Audit


• Dealing with the auditing of internal accounts, computer programmes and other specialised services.


Cards Department


• Responsible for cardholder purchases. 


Translations


• Dealing with the translation of articles, technical and law-related documents from one language to another. 


International Banking Services


• Responsible for the facilitation of international trade. 


Treasury


• Responsible for wholesale financing of banks.


Information Technology


• Dealing with the daily processing of transactions.



• Providing information to clients, management and other departments in the bank.


Credit Department


• Providing instalment credit and loan facilities to industries, commerce and professional people. 


Personal Financial Planning


• Providing professional financial planning to the private sector. 


Corporate Financial Planning


• Providing professional financial planning services to corporate clients and parastatals. 


Marketing Department


• Responsible for the process of researching, developing, communicating and distributing products and services to satisfy the financial needs of clients.


Training Department
 
• Conducts training interventions and manages all external training interventions in order to ensure that employees are fully equipped to perform their daily tasks in line with pre-set standards.


Human Resources Department


• Responsible for all employee-related matters such as salaries, leave, disciplinary hearings, etc.


Infrastructure


• Maintaining the buildings, furniture and stationary.


Legal Department


• Responsible for all legal matters regarding the bank and its clients. 


Life Insurance


• Most banks provide a service where clients can obtain life insurance policies, estate planning, etc.. 


Short Term Insurance


• Some banks have this service available in order to insure your personal property against the risk of loss or damage from fire, theft, storm, riot or in the case of a motor accident. 
  

Requirements

Secondary Education
Potential bankers must be in possession of at least a HIGCSE/IGCSE Grade 12, or equivalent qualification. To follow the certificate and diploma courses at the Institute of Bankers in Namibia (IOB), at least a D-symbol in English, Mathematics and Accounting is required.
 
Compulsory subjects
Mathematics (South Africa)
Mathematics and English (Namibia)

Recommended subjects
Business Studies, Economics and Accounting (Namibia)
 
Tertiary Education
In-service training is usually provided by the bank. The aim is to equip employees to master day-to-day tasks within the work environment effectively, and to deal and communicate with clients in a professional manner. Most South African technikons offer the N. Dip. Banking which is a three-year course.

The Polytechnic of Namibia offers the following related diploma courses: Accounting, Business Computing, Marketing and Commerce.

At UNAM students can follow the degree courses: B. Administration, B. Accounting, B. Commerce and B. Economics.

The Institute of Bankers in Namibia (IOB) is the examination body for the banking sector in Namibia. The institute offers the Certificate in Banking, as well as the following diploma courses: Credit and Advanced Credit, Marketing and Advanced Marketing, Treasury, Estate and Financial Planning, Advanced Estate and Financial Planning and Property Finance. Courses are offered on correspondence or distant education basis.

Personality
The prospective bank employee must be accurate and responsible, and should possess an aptitude for computational work. Integrity and the maintenance of good interpersonal relations are equally important.

Work Opportunities
People who follow careers in banking are employed by banks and building societies.

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