Bank President Job Description
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A bank president is a financial services executive who oversees banking operations, planning, policies and practices as well as a variety of other strategic objectives set forth by the Chief Executive Officer and Board of Directors of a consumer bank. The bank president generally reports to the CEO and has several direct reports responsible for a variety of lending, deposit, savings, credit and other consumer banking products. Most bank presidents also have a seat on the Board of Directors.
The primary job responsibilities of a bank president are to ensure the consumer banking operations are functional and exceeding client's expectations by planning and developing policies surrounding investment, loan and interest reserve policies. These policies must ensure outstanding monetary returns as this is the most basic way a successful consumer bank operates: clients make deposits and banks use those deposit to issue lines of credit. A bank president is also responsible for both internal and external communication and marketing of financial products. He or she may delegate some of these responsibilities to directors who work below the bank president. Other responsibilities include representing the bank in the media, speaking at conferences on behalf of the bank, planning and monitoring budgets and other financial activity.
Most bank presidents have been with their respective companies for a number of years, therefore entry into a specific bank are difficult, but possible for the right candidate. Some banks look to the marketplace for qualified candidates they can "poach" from competitors. Candidates looking to move to a competitor will seek out a headhunter or other banking recruitment professional to discuss their resume and any opportunities the recruiter may know about in the market.
Bank presidents are constantly in the spotlight both at work and outside in the public eye. Therefore, he or she must have a professional demeanor at all times and have a strong code of ethics. During times of crisis a skilled banking president should have the ability to remain calm, communicate effectively and demonstrate strong leadership abilities. A vast knowledge of financial terms and banking products is critical.
An undergraduate degree in finance or accounting is required, however most bank presidents also have a graduate degree and carry a variety of management certification or professional memberships.
According to Payscale.com the average base salary for a bank president is approximately $110,000 annually but most also receive a form of incentive compensation or year-end bonus such as cash and company stock.
KJ Henderson has more than a decade of HR and talent acquisition experience. He has held roles at a Fortune 100 investment bank, a media conglomerate and at one of NYC's largest executive staffing firms. He currently heads recruitment sourcing at a major movie studio. He read literature at Oxford.