Banking Careers in Miami

Banking Careers in Miami

Even despite the recent financial crisis, banking careers are strong in Miami. In fact, Miami boasts the largest concentration of international banks in the U.S.

The number of companies headquartered in South Florida, and particularly Miami, mean banking and credit firms are needed to provide loans, credit, payment services, and related products like insurance, financial analysis, and auditing.

Banking Careers

According to the Bureau of Labor Statistics (BLS), office and administrative support accounts for 64 percent of jobs in the banking industry. The BLS defines the following careers in banking:

Bank tellers, the largest occupation, provide routine financial services to the public. They handle customers' deposits and withdrawals, change money, sell money orders and traveler's checks, and accept payment for loans. Tellers also sell bank services to customers.

New accounts clerks and customer service representatives answer questions from customers, and help them open and close accounts and apply for banking services. They are knowledgeable about a broad array of bank services and must be able to sell those services to potential clients.

Business and financial occupations make up roughly 25 percent of all jobs in banking.

Financial managers direct bank branches and departments, resolve customers' problems, ensure that standards of service are maintained, and administer the institutions' operations and investments.

Loan officers evaluate loan applications, determine an applicant's ability to repay a loan, and recommend approval of loans. They usually specialize in commercial, consumer, or mortgage lending. When loans become delinquent, loan officers, or loan counselors, may advise borrowers on the management of their finances or take action to collect outstanding amounts. Loan officers also play a major role in bringing in new business and spend much of their time developing relationships with potential customers.

Trust officers manage a variety of assets that were placed in trust with the bank for other people or organizations; these assets can include pension funds, school endowments, or a company's profit-sharing plan. Sometimes, trust officers act as executors of estates upon a person's death. They also may work as accountants, lawyers, and investment managers.

Securities, commodities, and financial services sales agents, who make up the majority of sales positions in banks, sell banking and investing services. They contact potential customers to explain their services and determine the customer's banking and other financial needs. They also may discuss services, such as deposit accounts, lines of credit, sales or inventory financing, certificates of deposit, cash management, stock investments, or investment services. These sales agents also solicit businesses to participate in consumer credit card programs. At most small and medium-size banks, however, branch managers and commercial loan officers are responsible for marketing the bank's financial services. This has become a more important task in recent years.

Accountants and auditors, lawyers, and computer specialists are also common jobs in banking.


Support occupations in banking often require some classroom instruction, as well as training under an experienced worker. Tellers with some college experience (such as an associate's degree in business or accounting), can advance to customer service rep or new accounts clerk.

Additional education, such as a bachelor's degree in business administration or a master's in business (MBA) are usually required to advance to most management or financial jobs in banking, such as financial analyst or loan officer.

Find more business schools in Miami.

For more information on careers in business management, see

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