Banking, credit and other investment managers plan, control and evaluate financial activities. They oversee business development and manage performance to support their company’s strategic direction and policies.
Banking managers oversee the branch operations of financial institutions such as banks, trust companies and credit unions. They may also manage departments that handle personal and commercial loans, buy and sell securities, operate investment funds, manage trusts or settle estates.
Credit managers oversee the activities of credit departments within businesses.
Watch the video below to see what a day in the life of an account manager is like.
Estimated median employment income based on 2021 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))
Note:Estimated median employment income based on 2021 Job Bank median hourly wage rate (median annual salary = hourly wage rate x 40 (hours per week) x 52.14 (weeks per year))
Source: 2021 Job Bank Wage Report
Source: B.C. Labour Market Outlook
10 year expected job openings: 3,640
Bank managers work for banks, trust companies and credit unions. Credit managers work for businesses including department stores, utility companies, car dealerships and insurance companies. Other investment managers may work for credit card companies, consumer loan companies, mutual fund investment firms, mortgage investment companies or other businesses that deal in loans, financing and investments.
Most banking, credit and other investment managers work in offices. More and more, meetings with clients take place online.
Source: 2016 Census
Banking, credit and other investment managers usually need:
Managers who handle large commercial loans may need a master’s degree in business administration, finance or management science. Those who sell securities must be licensed through the Canadian Securities Institute.
For more information about programs offered specifically for this career, visit EducationPlannerBC.
Every job calls for a certain set of skills. Knowing those skills is the first step in finding a good career fit.
Here, you will find the 35 most relevant workplace skills. Some are more important to achieving success in a certain career than others. These skills may come naturally to you or you may need to gain them through education, training and experience.
See the list of work-related skills below, ranked in order of importance for this career. You’ll also find the skill strength needed, letting you know how capable you must be in that skill.
Check out the list and see if this career matches your skills—take that first step!
The cost of training and hiring new managers is high. As a result, companies try to keep strong employees by offering good benefits, salaries and leadership training. They also try to promote from within. This is especially true of bigger banks, which have a larger pool of employees to choose from.
As technology advances, knowledge-based positions are replacing routine transaction-based jobs. This means that employers are looking for workers with higher education and skill levels. They are also providing ongoing training and education to encourage existing staff to upgrade their skills.
Technology has made it easier to manage more people at a distance. In some companies, this change means that one manager now does the work of two.
Before becoming banking or credit managers, new graduates often work as personal bankers, tellers, financial advisors, or credit or loan officers.
As they gain experience, banking and credit managers may move on to senior management positions in business and commercial banking, financial planning, business development or sales and investments.