Month: May 2018

Finding A Retail Banking Job

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Do you not want to just sell things? Well how about a different kind of retail job?

When most people think of a retail job, they think of traditional types of work such as shop keeping, floor sales, and register clerking. But the word ”retail” applies to any kind of service or work that involves providing services or products to the everyday consumer, so when considering a retail job search, broadening your perspective a bit can pay big dividends bank dividends, as a matter of fact.

Retail Banking: A Different Kind of Retail Job

If you’re considering a career in retail, you need to know that there’s more to the retail category than sales and service jobs. Retail banking, for example, is an aspect of the banking industry that deals directly with consumers instead of companies or other banks. Retail bankers offer their customers savings, checking, and specialty accounts, as well as personal loans, mortgages, credit and debit cards, and other personal financial services. If you’ve got a checking or savings account, you’ve already seen one side of the retail banking industry, so how about considering a career on the other side of the banking table?

Retail Banking Jobs

Your retail job search doesn’t have to be limited to traditional retail positions such as sales or service jobs. One of the top retail jobs today is in the retail banking industry. Retail jobs in banking differ from other types of retail positions in that they are the perfect entry-level jobs for those interested in pursuing a career in the financial sector. Not only that, retail banking jobs involve many different kinds of positions. Let’s take a few moments to look at some of the possibilities:

Retail Banking Clerk: Retail banking clerks are at the front line for the bank, handling the majority of banks routine interactions with customers. Most banking clerks are called tellers. They cash checks, take in deposits, and handle processing withdrawals. Tellers also handle mail transactions, sell bonds, accept payments for bills, and sell traveler’s checks.

Head Teller: Head tellers supervise other groups of tellers, making sure that their working cash tallies up at a shift’s end and answering any more complex questions that may arise in dealing with customers.

Customer Service Representative: Unlike tellers and bank clerks, CSRs are responsible for more complex customer interactions. They often handle setting up accounts, transferring money between banks, and dealing with foreign money exchanges and other international transactions. CSRs also ”pinch hit” for tellers when the need arises.

Personal Financial Representative: These bank employees handle more of the sales aspects of a retail bank. They help customers to choose types of loans or mortgages, give advice on simple investments like CDs and other non-stock financial products, and suggest ways for customers to save and manage their money more effectively. Many of these positions are designated as loan officers, as they specialize in this area of expertise.

Retail Bank Manager: A retail bank manager is in charge of the overall bank, directing the given branch’s efforts to attract new customers and increase sales of the bank’s various financial products (loans, mortgages, CDs, etc.) based on the directives of central bank management. The retail bank manager (also called a branch manager) must also make sure that his or her branch is in compliance with all financial and business practices and policies, not only within the bank itself but also in regards to state and federal regulations.

Working Conditions

Most retail bankers used to work, well, banker’s hours, typically from 9 to 5, Monday through Friday. But this now varies. Banks are now often open on Saturdays, and many have hours that extend to 7pm. While many retail banks are in bank buildings, increasingly there are mini-bank branches in supermarkets and shopping malls. These banks typically have longer hours and a great deal of foot traffic and noise.

While managers, CSRs, and personal finance reps usually have desks to work at, working as a teller means long hours on your feet. There is also a great deal of working with computers and other office equipment. Retail banking requires exacting care and attention; a mistake can cost the bank or customers a great deal of money, as well as having legal ramifications.

Qualifications

Most teller jobs require little more than a high school diploma, although a college degree in business, accounting, or another related area is advantageous. Training (through direct supervision and classroom work) is usually supplied. Many tellers are part-time workers who are working to supplement other sources of income. Bank managers usually need a BA in retail management or a similar area, although other degrees can be applied. An MBA or MA degree is preferred at this level, in addition to experience in building or managing a retail operation.

Advancement Potential

College grads in business and accounting should be advised that a teller or CSR job is often a good way to start a banking career. With training supplied and numerous branches, most banks are practically designed for a hardworking teller to work his or her way up the corporate ladder to managing his or her own bank. By taking on new duties and working up to supervisory positions, entry-level retail banking employees can prepare for job openings within their branch or at other branches most banks prefer to fill managerial positions from within.

Conclusion

Looking for a retail job that can lead to a much bigger position? Consider a job in retail banking. With full training provided, part-time hours, and the chance to advance up the company ladder, it’s a retail job that is worth some serious consideration.

Preparing Resume With Clear Banking Objectives

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Objective is nothing but the goal you have before achieving any task. When you are applying for any job, your aim will be to visualize yourself in good position in the future. When applying for any bank job, your resume objective must express to the recruiting bank officer about your aim to be working as the bank employee. You must prepare your resume in such a way that it must talk about your future career objective and it must explain to the employer how you are planning to fulfill these aims while benefiting the bank.

A Study about the Bank Profession:

The banking profession involves great responsibility because the banker has to handle financial transactions and must understand the reports which are prepared by the bank for all the transactions done. In this banking sector, one has to examine all the transactions made in his/her bank and must prepare a relevant report. Your resume for the banking job must highlight your knowledge in the field and must depict the list of details which will convince the recruiting officer to employ you. The bank profession has different positions; following are some preferred bank job responsibilities which a bank employee has to possess:

To create the financial portfolio, generate bank revenue reports, plan about bank schemes, know how to manage the banks profits, find methods for proper management, build a good relationship with the customer and customer care service, control and direct the retail banking resource and activities, discuss various business schemes with the clients and to settle the queries related to the function of the banks.

Important words to consider for banking objectives:

An objective statement in the resume is the first section which will be queried by the employer. Therefore, it is significant to include the words which describe your skills aptly. Below are such words which can enhance the quality of your objective statement and make your resume remarkable:

Self-motivated, positive thinker, enthusiastic, creative
Strong mathematical skill
Thorough knowledge of banking and finance
Logical approach and strong analytical skills

Going through many sample resumes will give an idea for preparing your resumes. There are many positions in this sector and you must alter your objective depending upon the position you are planning to apply.

U.OL Defining Commercial Banking

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Commercial banking” was defined in the previous edition of this book as the activity of a banking institution whose “principal business is to accept deposits, make loans, collect commercial paper, and arrange the transfer of funds.” Under the banking law from the adoption of the Glass-Steagall Act in the 1930s until the beginning of the 1980s, there was a distinct demarcation between commercial banks and other financial institutions, such as investment banks, securities firms, and commercial financial services conglomerates.

AH this is changing. The types of institutions that can engage in traditional commercial banking functions have enlarged as a result of legislation giving additional powers to thrift institutions. The types of activities commercial banks engage in have expanded as a result of legislation at both the state and federal levels and as a result of judicial decisions dismantling parts of the wall erected by the Glass-Steagall Act to keep commercial banks insulated from the risks of dealing in securities. The “nonbank bank” explosion has started a restructuring of the banking market into holding companies capable of offering an array of financial services. In light of these developments, perhaps the most suitable definition is one offered by an English texi: “[B]anks come in all shapes and sizes, with different name tags applied indifferent countries, often quite loosely. Banks make most of their money from the difference between interest rates paid to depositors and charged to borrowers.” Commercial banks are “publicly quoted and profit oriented. They deal directly with the public, taking deposits, making loans and providing a range of financial services from foreign exchange to investment advice. Most countries have settled for between four and ten;” but in the United States there are nearly 15,000 because of “banking laws that have prevented banks operating in more than one state, and in different types of business,..

In addition to commercial banks, there are many specialized depository institutions that have been established to perform specialized roles. Thrift institutions such as savings and loan associations and credit unions are important examples. At their inception, savings and loan associations primarily engaged in home mortgage lending and offering passbook-type savings to consumers. With the enactment of the Depository Institutions Deregulation and Monetary Control Act of 1980, thrifts gained expanded authority to engage in commercial banking activities. Further incorporation into the general banking market has occurred as a result of the restructuring brought about by the financial failures and weakened condition of thrift institutions in the 1980s, which led to changes in the law to encourage the acquisition and merger of weak institutions with stronger financial institutions, including banks. To a great extent, thrift institutions are subject to a regulatory regime similar to that governing commercial banks, and engage in banking functions similar to those of commercial banks. Subsequent chapters discuss how thrifts fit into this regulatory scheme.

There are other specialized consumer-oriented financial companies. Credit unions may be organized under state and federal statutes with the power to maintain customer share accounts against which drafts may be drawn payable i n a manner similar to checks. There are also personal finance loan organizations authorized under the laws of the several states that loan small amounts of money to consumers, often at specially regulated rates that are higher than the usual interest rates allowed. These organizations normally are not deposit-taking institutions but operate with their own capital and credit. Banks often have their own small loan departments to make the same type of loans, and holding companies may have special consumer loan subsidiaries or affiliate companies.

Although trust activities have become a part of the activity of many commercial banks,1 this book does not deal with the laws that govern these trustee relationships and activities. The competition for funds has led some banks to offer managed investment accounts through their trust departments similar to those offered by mutual funds and other securities firms. Again, there are trust companies organized under state law that operate by accepting money for the purpose of investment where the beneficial interest in the funds remains in the original owner.

There are other types of banking functions and specialized banks: for example, reserve banks, which are really bankers’ banks; investment banks, whose chief business is underwriting and dealing in securities, and providing financial advice and aid in corporate acquisitions and mergers; agricultural banks; foreign trade banks; and other specialized banks that have charters to engage in particular types of business. Further, the peculiarities of federal laws regulating bank holding companies have encouraged the proliferation of various financial institutions that have been chartered as full-service banks but that limit their functions to activities such as consumer lending and credit card operations.

Because of the diversity of functions of commercial banks and the variety of depository institutions involved in them, this book does not attempt a comprehensive survey of all banking activity. Rather, it emphasizes the basic regulatory structure that governs traditional commercial banking institutions and the commercial activities associated with accepting deposits, collecting commercial paper, making payments and transferring funds, and engaging in certain credit transactions.

As this introduction indicates, the laws and regulations that govern commercial banking are numerous and complex. The various types of financial institutions engaging in commercial banking activities are matched by an equal activities. The Depository Institutions Deregulation and Monetary Control Act of 1980 also gave thrift institutions chartered by the Federal Home Loan Bank Board the authority to engage in trust activities under certain conditions. 12 USC 1464(n) (1982).

In addition, the law governing the transactions of commercial banks is complex. The Uniform Commercial Code has brought a desirable uniformity to the law in many areas, but there are many special purpose statutes, frequently intended to give special consumer protection, that must be taken into account in analyzing banking transactions. There is a growing body of federal law that must be considered along with the state commercial law of the UCC and common law. This book is intended to serve as a beginning guide for the bank officer engaged in these commercial banking transactions and the attorneys called upon to advise in banking matters. It is not a substitute for careful legal counsel, however, and such assistance should be obtained because this book can neither cover all the details applicable in particular matters, especially at the regulatory level, nor report on all the local variations, changes, and new developments. Moreover, the facts of a particular situation will vary in ways that may introduce new legal problems or otherwise affect the legal analysis. Obtaining the advice of competent legal counsel is essential.

Umbilical cord blood banking lessons for those parenting for the first time

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All parents want their child to be healthy and happy for life time. During the birth of a child, parents make a promise to the baby and to themselves to take very good care of their baby. They try everything that can increase the life expectancy of the baby. Nowadays, parents are being provided with a large number of options that can ensure their child a safe and healthy future. It is umbilical cord storage of the infant. The stem cells found in the cord blood have been found to cure numerous life threatening diseases. Where in the past the survival rate of diseases like childhood leukemia was very low, it has increased in the now. Cord blood is found in the umbilical cord which contains life saving stem cells. The cells possess genetic information for several organs, immune system, nervous and even blood. This means these cells generate new organs and thus help to cure the disease. Bone marrow transplant is a term with which people are very familiar. However, in many stem cell researches it was found that stem cells present in cord blood are able to treat all those diseases that had been cured by bone marrow. The reason that made it necessary to shift to some other alternative from bone marrow was the difficulty in finding exact bone marrow match of donor.

There are several advantages of umbilical cord blood banking during the birth of child over bone marrow. As explained earlier, the first one is low compatibility of bone marrow cells of the donor and low success rate. Bone marrow has always been painful for the recipient and donor and in some cases dangerous also. The cord stem cells show a perfect genetic match to the child rather than bone marrow. The rising popularity of the cord blood banking process can be determined from the fact that a large number of groups have established facilities for storage, research and also treatment of chronic diseases. Parents need to contact them before heading to the hospitals

One does not need to worry about the cord blood banking cost as they have started various programs for the parents. Every company has different payment options and baby registry gifting system. This system invites multiple people to contribute for the cost. You can ask for the doctor’s recommendation to make a choice. Cord blood banking has been used by thousands families till now. One should contact a cord blood storage group to donate cord blood of their child. Usually cord blood is discarded after birth.

A single donation can help scientists in doing further research and help several people through discovery of further treatments. Till now treatments for about eighty different types of diseases have been discovered and is still in process. The research is being carried out for Alzheimer’s diseases, Lou Gehrig’s disorder, diabetes, also for brain and injuries to the spinal cord. This is how cord blood is benefiting many families. So, every individual should consider the option of safeguarding their family by donation of cord blood during delivery. Single donation today will insure a healthy future of your baby and of the entire family.

About The Authors:-

This article is written by Jackson daren this is having topics on umbilical cord storage, umbilical cord blood banking, cord blood banking cost and many more. For more: http://cryocell.blog.com/

Importance Of Ssl Certificates On Banking Websites

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It is possible for every piece of data to be seen by others unless it is secured by an SSL Certificate. Your customers won’t trust your web site without it.

Why banks need SSL?

SSL Certificates are essential factor to gain Customers confidence in your Services and Brand

SSL stands for Secure Socket Layer, which allows online users to create sessions with Internet sites that are safe and secure i.e. they have the least risk of external contravention. In an Online Banking website, the customers can only be secure with the use of SSL technology. An SSL Certificate ensures that all data passed between the Web server and browser remains private and secure.

To make online banking safe for its Customers all the banks must have SSL Certificates. SSL Certificates is the only answers to questions such as – Will my money be safe? Can someone steal my Personal information?, Can someone access funds or track my transactions?, Could a thief find a way to clean out my bank account?

Thus all the banking websites need SSL Certificates

To enhance Customers Confidence in your Website.
To get accepted globally – expand clientele from all over the world.
SSL is mandatory for sites collecting personal or financial information from their customers.
Most of the consumers now expect safety & security to the part of online services they use.
You value privacy and expect others to trust you.
Banks need to comply with privacy and online security requirements.
SSL is a necessity if you have offices that share confidential information over an intranet.
The most important is to protect your customer’s transactions and provide visitors with proof of your digital identity.

What happens if a bank does not use SSL, What are the risks involved?

Customers are very careful while doing online banking. They are aware of SSL and check for HTTPS before logging in to the website. SSL, Secure Socket Layer is extremely essential for any website, which is collecting sensitive information like personal information, credit card numbers online. Especially banking websites should have SSL Certificates to secure the online transactions of their customer.

Consequences for not deploying SSL certificates on banking website are –

Customer may rebuff to expose his bank account details to the Internet.
Hackers and criminals may track the valuable information.
You can lose a potential customer.
Customers may loose faith and may go to some other bank.
Non-availability of SSL on any Banking Website may affect its brand image or Goodwill.

What is SSL Certificate?
SSL (secure sockets layer) is a communications protocol, which is now the global standard for security
SSL creates an encrypted link between a web server and a web browser to ensure that all data transmitted remains private and secure. The Secure Sockets Layer protects data transferred over http using encryption enabled by a servers SSL Certificate

SSL uses a cryptographic system that uses two keys to encrypt data – a public key known to everyone and a private or secret key known only to the recipient of the message. The public key is used to encrypt information and the private key is used to decipher it. When a Web browser points to a secured domain, a Secure Sockets Layer handshake authenticates the server (Web site) and the client (Web browser). An encryption method is established with a unique session key.