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What does a
Branch Manager do?

Click here to view all Branch Manager jobs on neuvoo.ca.
Other common names for this position: Bank Manager, Bank Director, Bank Administrator, Commercial Banking Manager, Corporate Banking Centre Manager, Credit Manager, Credit Union Manager, Operations Manager

Description

The Branch Manager’s role is crucial to financial institutions’ operations. They are the leaders of the branch office of a bank or financial institution; hence, they are in charge of ensuring their team meets its goals and objectives within the pre-established deadlines.


With the aim of maintaining efficiency, Branch Managers supervise all the operations held at a branch location, including, but not limited to, the following: hiring employees, reviewing the approval of loans and lines of credits, handling marketing activities, performing customer assistance, and building good relationships with the community.[1]


In addition to their supervisory duty, they are also responsible for attracting new customers, as well as increasing the sales of financial products.

Primary Responsibilities

Here’s a non-exhaustive list of common tasks Branch Managers are required to complete.


  • Creating, implementing, and evaluating the branch’s business plan:
  • Developing and reviewing tactical and operational plans, procedures, and systems, in compliance with the institution’s strategic and financial goals, policies, procedures, budgets, deadlines, and other related requirements.
    • Hiring new employees, training, mentoring, supervising, and disciplining administrative staff in order to ensure the overall efficiency of daily operations:
    • Assigning, overseeing, and monitoring administrative and financial tasks;
    • keeping up-to-date, and ensuring that employees are up-to-date, on current banking regulations, current policies, procedures, and protocols;
    • developing and implementing customer service procedures;
    • ensuring that goals and deadlines are met and that projects are led in compliance with the institution’s policies and procedures; and
    • liaising with the head office and other branch offices to ensure the smooth management of operations.
      • Monitoring the financial transactions executed and the office activity performed at the branch office:
      • Auditing financial transactions and any other action executed by employees;
      • preparing quarterly reports, daily revenues, and other administrative reports;
      • overseeing the completion of thorough reports and analyses on the bank operations carried out in the branch office; and
      • analyzing office activity and employee performance, identifying trends, and making appropriate recommendations and adjustments to current work methods and systems.
        • Overseeing office equipment maintenance, monitoring, calibration, and repair, as well as replacement of missing supplies, when necessary.
          • Contributing to ongoing professional business development activities:
          • Working collaboratively with other branch offices to ensure the institution’s objectives are met; and
          • contributing to the growth of the branch’s customer base by establishing connections with the community to attract new customers.

Daily Tasks

  • Ensuring all employees handle their clients’ activities in an accurate, unbiased, and profitable way, following high ethical standards when performing financial transactions.
  • Providing guidance, counselling, and consultation to employees in order to guarantee customer satisfaction.
  • Monitoring budgets and ensuring sales targets are met, motivating staff to achieve objectives.
  • Meeting with customers to solve issues or complaints and monitoring their feedback.
  • Ensuring that employees comply with current Banking regulations and internal procedures.
  • Communicating with colleagues of other branch offices.
  • Developing relationships with the community and other businesses.
  • Keeping detailed computerized records and reporting all of the branch office operations and activities, including employee performance.
Salary
$61,470

The average Branch Manager salary is $61,470 per year or $32 per hour. This is around 1.9 times more than the Median wage of the country. Entry level positions start at $43,000 while most experienced workers make up to $86,000. These results are based on 96 salaries extracted from job descriptions.

$61,470
$86,000
$43,000
Deductions
Deductions
Gross Salary61,429.17 $
CPP- 2,479.95 $
EI- 930.60 $
Federal Tax- 8,002.94 $
Provincial Tax- 3,872.49 $
Total Tax- 15,285.98 $
Net Pay*46,143.19 $
In Ontario, Canada, if you make 61,429.17 $ a year, you will be taxed 15,285.98 $. That means that your take home pay will be 46,143.19 $ per year, or 3,845.27 $ per month. Your average tax rate is 24.88% and your marginal tax rate is 31.15%.
* Deductions are calculated based on the tables of Ontario, Canada income tax.
Job Offers
There are currently 5569 available job offers for the Branch Manager position on neuvoo.ca. Below is a list of available jobs, based on Canada's most populated metropolitan areas.
Education is key ! Over [number] graduates attended one or more of these schools prior to becoming a Branch Manager. These Schools usually offer specialized courses and programs that impart the necessary knowledge and skills required by most employers.
Top 5 Schools in Canada
to become Branch Manager
  • 1
    Montreal, Quebec
  • 2
    Montreal, Quebec
Required Skills and Qualifications
  • Strong interpersonal, communication and negotiation skills:
  • Communicating clearly, both in writing and verbally, in order to create a clear and communicative environment with clients and employees;
  • handling requests and inquiries in a professional, diplomatic, and transparent manner, keeping customers informed about decisions made and transactions executed;
  • being able to present information and ideas to diverse groups, simplifying often complex and lengthy matters;
  • conveying an engaging attitude and using an influential tone with a focus on developing long-term relationships, both internally and externally, to facilitate work efforts, alignment, and collaboration; and
  • being able to deal with team members and customers in potentially adversarial situations using a calm, tactful, and effective approach.
    • Exceptional leadership and mentoring skills:
    • Being able to lead and motivate employees, and to direct their work activities;
    • modelling appropriate professional, ethical, and collaborative behaviors that induce trust and respect;
    • pushing themselves and others to achieve results and exceed goals; and
    • being resourceful, energetic, displaying a strong desire to take initiative.
      • Strong sense of empathy and compassion:
      • Being people-focused;
      • willing to put the interests of clients and colleagues first.
        • Outstanding organizational and project management skills:
        • Being able to work independently and as part of a team in a fast-paced environment;
        • being versatile, flexible, and willing to work within constantly changing priorities; and
        • being able to prioritize tasks and responsibilities accordingly.
          • Administrative skills:
          • Demonstrated proficiency in computer word processing, spreadsheet, database applications, banking platforms, and accounting systems.
            • High levels of integrity, credibility, and confidentiality.

Aside from the skills listed above, Branch Managers need to acquire an extensive knowledge of clerical practices and procedures, as well as Banking management principles, including lending, investment, and partner relationships. They usually do so by completing a postgraduate degree in Finance, Economics, or Accounting. Any higher level of education will eventually allow candidates to increase their earnings. Hence, Branch Managers will often pursue additional degrees and courses in fields such as Business, Management, Sales, or Marketing.


Furthermore, Branch Managers are required to have a Mutual Funds accreditation granted by a Canadian institution, such as The Investment Funds Institute of Canada (IFIC) and the Canadian Securities Course (CSC). Additionally, being a Business Unit Compliance Office (BCO) is a definite asset.


Most Branch Manager positions require a minimum of 5 to 7 years in the Banking field. However, in addition to work experience and an academic background, most banks and financial institutions require candidates to complete a training program to qualify to become a Branch Manager.

References