The bank director is a senior management position in the bank, having a significant and decisive influence on the unit’s development. What do you know about their job? What are the requirements to become a bank director? Let’s find out.
1. What is a bank director?
The bank director is the chief executive officer of all operations and strategic stages at the bank. It is the leading position offering profitable business plans to help the bank develop stably, expand markets, increase the customer base, mobilize investment capital, and more. Therefore, this position has a crucial influence and determines the bank’s development.
All the financial and credit services and products you are using of the bank are built by the CEO simply because they are the ones who make the final decisions to develop these services.
2. Bank CEO duties and responsibilities
The bank CEO undertakes the following significant tasks:
- Orient the business strategy to match market needs and ensure competitiveness with other rival banks.
- Make detailed operational plans for the bank in each period.
- Implement business activities approved by the Board of Directors.
- Build the banking organizational structure and approve decisions on personnel appointment, increase in salary and bonus, allowances, and assess emulation and commendation.
- Responsible for the bank’s profit and growth based on the set goals.
- Appraise and approve banking-related products, services, and investment projects. Negotiate and sign commercial contracts on behalf of the bank. Organize and manage the financial and credit activities of the bank in the list permitted by the State bank of Vietnam.
3. Necessary requirements of the bank director
Thorough and multi-dimensional knowledge
A leader requires specialized knowledge and multi-dimensional understanding. It will be strikingly challenging for a bank director to handle problems arising during the operation process well if they are only fluent in financial – banking knowledge. The reason is that the difficulties in bank operation will be related to many other fields and professional aspects such as law, tax, marketing, and human resource management. Therefore, accumulating experience and learning non-stop is an indispensable element for a CEO. The more CEOs cultivate their minds and create work, the more they succeed in handling work.
The management ability of a CEO includes all the tasks of operating the enterprise apparatus. They must manage and assign tasks to each department, set goals and monitor work performance, and build a unique culture for all employees.
A thorough knowledge base with well-trained through school is essential. However, it is not enough because knowledge must go hand in hand with reality and application. Bank CEOs must constantly research, learn, and gain experience from good examples in practice. Only then will they have enough experience and extensive knowledge to set out a reasonable management policy for the entire enterprise.
Ability to work well under pressure
The working time of the bank CEO is not fixed and specific. Huge workload, severe pressure, and responsibilities from many sides force CEOs to spend most of their time at work. Therefore, to complete the task well, the bank’s CEO must have good health and the ability to work well under pressure. The higher the position is, the greater the requirement is. Behind success and fame is a huge trade-off and sacrifice. Mentally prepare yourself if you want to pursue this position.
Experience is a remarkably crucial and mandatory factor for a bank CEO. Take time to accumulate the experience and necessary skills in the job. Every decision, every orientation, and vision of the CEO is associated with the bank’s common interests. Therefore, if the CEO is inexperienced, it is easy for the bank to fall into risky situations. The best advice for you is not to rush. Work step by step and develop yourself in line with this goal.