Banking and Insurance Careers
- Administrative and office positions account for 64 percent of the employment opportunities available in the banking industry according to the 2010-2011 Occupational Outlook Handbook. Bank tellers represent the majority of that percentage. These banking professionals process customer transactions for account deposits and withdrawals, create traveler's checks and process loan payments. New account clerks and customer service representatives open new accounts for customers, answer questions and assist account holders with purchasing bank services including overdraft protection. Loan and credit account clerks process paperwork for bank-created loans and credit card applications as well as verify loan and credit applications are filled out correctly.
- Business, management and financial positions account for 25 percent of the career opportunities in banking according to the 2010-2011 Occupational Outlook Handbook. Financial managers are responsible for directing bank branches or bank departments at the corporate level. Branch managers also handle customer service issues and oversee administrative employees to ensure quality of service. Loan officers evaluate customer applications for credit and recommend approval or denial. Commodities and financial sales agents sell banking and investment services. These professionals manage investment accounts for bank customers, solicit customer to participate in credit card programs and assist business customers in getting necessary financing for inventory needs or payroll.
- According to the 2020-2011 Occupational Outlook Handbook, 42 percent of the jobs in the insurance industry are occupied by administrative or customer service representatives. These professionals process claims for policy holders, take down accident information and ensure paperwork is filed appropriately. Customer service representatives also review insurance claim forms for completeness and assist customers in understanding the limits of coverage and how claims are formally processed. Policy processing clerks activate new insurance policies for customers and assist them in making changes to existing insurance plans. Claims adjusters review the damage sustained to a customer property and make estimations as to the total cost of repair.
- Insurance sales agents assist customers in creating insurance policies for a variety of fields including auto insurance, life insurance and health insurance. Extensive formal training is required to become an insurance sales agent along with state certification and licensure. Insurance managers oversee a group of sales agents in a target market area. Managers guide sales agents, claims adjusters and investigators to meet sales quotas while adhering to stringent state regulations for business ethics and claims processing. Insurance investigators are employed by insurance companies to look into possible criminal activity with fraudulent claim filings.