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Does commercial banking involve being in teams?
Hello, I'm a first year college student considering commercial banking as a career (or at least my first). I interned at JPMC and enjoyed the fact that there were teams and people worked together on projects.
Is this also the case in commercial banking roles? If so, then which ones?
In my career I would like to work with individual people and small businesses instead of big companies and the wealthy. I'm not sure if I can work in corporate and do this at the same time.
Thank you
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Hasnain’s Answer
In commercial banking, the team dynamic can vary depending on the specific role and the size and structure of the bank. Generally, commercial banking involves serving the financial needs of businesses, including small and medium-sized enterprises (SMEs). Here are some insights into the team dynamics in commercial banking:
𝐓ᴇᴀᴍ 𝐂ᴏʟʟᴀʙᴏʀᴀᴛɪᴏɴ ɪɴ 𝐂ᴏᴍᴍᴇʀᴄɪᴀʟ 𝐁ᴀɴᴋɪɴɢ:
𝟭. 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀/𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗕𝗮𝗻𝗸𝗲𝗿𝘀:
Relationship managers or commercial bankers often work closely with businesses, including small enterprises. They typically form relationships with business clients, understand their financial needs, and offer banking solutions. In larger banks, these professionals may work in teams that include analysts, credit officers, and other specialists.
𝟮. 𝗖𝗿𝗲𝗱𝗶𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝘁𝘀:
Credit analysts assess the creditworthiness of businesses applying for loans. They may work closely with relationship managers to gather financial information, analyze risk, and make recommendations. Collaboration with colleagues is common in this role.
𝟮. 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗧𝗲𝗮𝗺𝘀:
Some banks have dedicated teams or branches focused on small business banking. In these settings, employees may work collaboratively to serve the needs of local businesses.
𝟯. 𝗧𝗿𝗲𝗮𝘀𝘂𝗿𝘆 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗧𝗲𝗮𝗺𝘀:
Larger commercial banks often have teams specializing in treasury services, which cater to the financial needs of businesses. These teams may include relationship managers, product specialists, and support staff.
𝐈ɴᴅɪᴠɪᴅᴜᴀʟ ᴀɴᴅ 𝐒ᴍᴀʟʟ 𝐁ᴜ𝐬ɪɴᴇ𝐬𝐬 𝐅ᴏᴄᴜ𝐬:
𝟭. 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴:
Working in community banking or smaller regional banks often involves a more direct focus on individual people and small businesses. Community banks may have a more localized approach, allowing for closer relationships with clients.
𝟮. 𝗕𝗿𝗮𝗻𝗰𝗵 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀:
Branch managers in commercial banking often engage directly with individual customers and small business owners. They oversee the operations of a specific branch and may work to build relationships within the local community.
𝐂ᴏɴ𝐬ɪᴅᴇʀᴀᴛɪᴏɴ𝐬:
𝟭. 𝗕𝗮𝗻𝗸 𝗦𝗶𝘇𝗲:
The size of the bank can influence the team structure. Larger banks may have more specialized roles, while smaller banks or community-focused branches might offer a broader range of responsibilities.
𝟮. 𝗖𝗹𝗶𝗲𝗻𝘁-𝗙𝗮𝗰𝗶𝗻𝗴 𝗥𝗼𝗹𝗲𝘀:
Roles that involve direct client interaction, such as relationship management, tend to offer more opportunities to work closely with individual people and small businesses.
𝟯. 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘇𝗲𝗱 𝗧𝗲𝗮𝗺𝘀:
Some commercial banks have specialized teams focusing on specific industries or sectors. For example, a team might specialize in healthcare, technology, or manufacturing, allowing for in-depth expertise in serving businesses within those sectors.
𝟰. 𝗡𝗲𝘁𝘄𝗼𝗿𝗸𝗶𝗻𝗴:
Networking within the industry and attending events can help you explore different roles and find opportunities that align with your interest in working with individual people and small businesses.
If you have a preference for working with small businesses and individual clients, it's worth exploring roles within community banking, small business banking, or branches of larger banks that cater to local markets. Networking with professionals in the field and seeking informational interviews can provide valuable insights into the specific dynamics of different roles within commercial banking.
𝐓ᴇᴀᴍ 𝐂ᴏʟʟᴀʙᴏʀᴀᴛɪᴏɴ ɪɴ 𝐂ᴏᴍᴍᴇʀᴄɪᴀʟ 𝐁ᴀɴᴋɪɴɢ:
𝟭. 𝗥𝗲𝗹𝗮𝘁𝗶𝗼𝗻𝘀𝗵𝗶𝗽 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀/𝗖𝗼𝗺𝗺𝗲𝗿𝗰𝗶𝗮𝗹 𝗕𝗮𝗻𝗸𝗲𝗿𝘀:
Relationship managers or commercial bankers often work closely with businesses, including small enterprises. They typically form relationships with business clients, understand their financial needs, and offer banking solutions. In larger banks, these professionals may work in teams that include analysts, credit officers, and other specialists.
𝟮. 𝗖𝗿𝗲𝗱𝗶𝘁 𝗔𝗻𝗮𝗹𝘆𝘀𝘁𝘀:
Credit analysts assess the creditworthiness of businesses applying for loans. They may work closely with relationship managers to gather financial information, analyze risk, and make recommendations. Collaboration with colleagues is common in this role.
𝟮. 𝗦𝗺𝗮𝗹𝗹 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗕𝗮𝗻𝗸𝗶𝗻𝗴 𝗧𝗲𝗮𝗺𝘀:
Some banks have dedicated teams or branches focused on small business banking. In these settings, employees may work collaboratively to serve the needs of local businesses.
𝟯. 𝗧𝗿𝗲𝗮𝘀𝘂𝗿𝘆 𝗦𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝗧𝗲𝗮𝗺𝘀:
Larger commercial banks often have teams specializing in treasury services, which cater to the financial needs of businesses. These teams may include relationship managers, product specialists, and support staff.
𝐈ɴᴅɪᴠɪᴅᴜᴀʟ ᴀɴᴅ 𝐒ᴍᴀʟʟ 𝐁ᴜ𝐬ɪɴᴇ𝐬𝐬 𝐅ᴏᴄᴜ𝐬:
𝟭. 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝘁𝘆 𝗕𝗮𝗻𝗸𝗶𝗻𝗴:
Working in community banking or smaller regional banks often involves a more direct focus on individual people and small businesses. Community banks may have a more localized approach, allowing for closer relationships with clients.
𝟮. 𝗕𝗿𝗮𝗻𝗰𝗵 𝗠𝗮𝗻𝗮𝗴𝗲𝗿𝘀:
Branch managers in commercial banking often engage directly with individual customers and small business owners. They oversee the operations of a specific branch and may work to build relationships within the local community.
𝐂ᴏɴ𝐬ɪᴅᴇʀᴀᴛɪᴏɴ𝐬:
𝟭. 𝗕𝗮𝗻𝗸 𝗦𝗶𝘇𝗲:
The size of the bank can influence the team structure. Larger banks may have more specialized roles, while smaller banks or community-focused branches might offer a broader range of responsibilities.
𝟮. 𝗖𝗹𝗶𝗲𝗻𝘁-𝗙𝗮𝗰𝗶𝗻𝗴 𝗥𝗼𝗹𝗲𝘀:
Roles that involve direct client interaction, such as relationship management, tend to offer more opportunities to work closely with individual people and small businesses.
𝟯. 𝗦𝗽𝗲𝗰𝗶𝗮𝗹𝗶𝘇𝗲𝗱 𝗧𝗲𝗮𝗺𝘀:
Some commercial banks have specialized teams focusing on specific industries or sectors. For example, a team might specialize in healthcare, technology, or manufacturing, allowing for in-depth expertise in serving businesses within those sectors.
𝟰. 𝗡𝗲𝘁𝘄𝗼𝗿𝗸𝗶𝗻𝗴:
Networking within the industry and attending events can help you explore different roles and find opportunities that align with your interest in working with individual people and small businesses.
If you have a preference for working with small businesses and individual clients, it's worth exploring roles within community banking, small business banking, or branches of larger banks that cater to local markets. Networking with professionals in the field and seeking informational interviews can provide valuable insights into the specific dynamics of different roles within commercial banking.
I appreciate this, thank you for the advice.
Ivana
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
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James Constantine’s Answer
Hey there, Ivana!
Absolutely, commercial banking is all about teamwork. It's a field where collaboration is key, as bankers join forces on projects, share their expertise, and build strong client relationships. Roles that particularly highlight teamwork include commercial lending, relationship management, and credit analysis.
The clients you'll interact with in commercial banking can be quite diverse, depending on both your role and the institution you're part of. Some commercial banks specialize in catering to small businesses and individual customers, while others focus on larger corporations and affluent individuals. By selecting a role that resonates with your career aspirations, you'll have the chance to work with the type of clientele that suits you best.
Here are three highly authoritative references that can provide further insights:
1. "Commercial Banking: A Practical Guide" by John A. Taylor: This comprehensive guide delves into various aspects of commercial banking, including the crucial role of teamwork and collaboration. It offers a detailed look at different roles and the range of clients that commercial banks serve.
2. The Wall Street Journal's "Commercial Banks: How They Work and How to Choose One": This informative article explores the workings of commercial banks and the diverse types of clients they cater to. It provides valuable advice on selecting a bank that matches your financial needs and objectives.
3. Investopedia's "Commercial Banking: Understanding the Basics": This resource demystifies the basics of commercial banking, including the duties and responsibilities of commercial bankers. It underscores the significance of teamwork and collaboration in the field.
May you be blessed with success!
James.
Absolutely, commercial banking is all about teamwork. It's a field where collaboration is key, as bankers join forces on projects, share their expertise, and build strong client relationships. Roles that particularly highlight teamwork include commercial lending, relationship management, and credit analysis.
The clients you'll interact with in commercial banking can be quite diverse, depending on both your role and the institution you're part of. Some commercial banks specialize in catering to small businesses and individual customers, while others focus on larger corporations and affluent individuals. By selecting a role that resonates with your career aspirations, you'll have the chance to work with the type of clientele that suits you best.
Here are three highly authoritative references that can provide further insights:
1. "Commercial Banking: A Practical Guide" by John A. Taylor: This comprehensive guide delves into various aspects of commercial banking, including the crucial role of teamwork and collaboration. It offers a detailed look at different roles and the range of clients that commercial banks serve.
2. The Wall Street Journal's "Commercial Banks: How They Work and How to Choose One": This informative article explores the workings of commercial banks and the diverse types of clients they cater to. It provides valuable advice on selecting a bank that matches your financial needs and objectives.
3. Investopedia's "Commercial Banking: Understanding the Basics": This resource demystifies the basics of commercial banking, including the duties and responsibilities of commercial bankers. It underscores the significance of teamwork and collaboration in the field.
May you be blessed with success!
James.
Updated
Kevin P’s Answer
Ivana, I am currently at JPMorgan and work with Commercial Bankers.
From what you are describing, you might be more interested in Business Banking instead of Commercial Banking.
As a business banker you work out of a local branch instead of the corporate center. You meet with local business owners both at the branch and at their place of business. One of the largest differences is the revenue to qualify for each. At Business Banking you work with smaller business and have a closer relationship the business owner.
Some believe this is much more fulfilling. Now the product offerings you have will be different as well. In business banking, the products you have to offer are very similar to retail products that function for the business.
Because this is in the retail branch space you will be expected to partner with the other branch roles. A financial advisor, private banker, mortgage banker, and the branch manager. You will be instrumental for the success of the branch. So it’s a little different in culture.
However you seem to enjoy that more!
Best of luck!!
From what you are describing, you might be more interested in Business Banking instead of Commercial Banking.
As a business banker you work out of a local branch instead of the corporate center. You meet with local business owners both at the branch and at their place of business. One of the largest differences is the revenue to qualify for each. At Business Banking you work with smaller business and have a closer relationship the business owner.
Some believe this is much more fulfilling. Now the product offerings you have will be different as well. In business banking, the products you have to offer are very similar to retail products that function for the business.
Because this is in the retail branch space you will be expected to partner with the other branch roles. A financial advisor, private banker, mortgage banker, and the branch manager. You will be instrumental for the success of the branch. So it’s a little different in culture.
However you seem to enjoy that more!
Best of luck!!