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Banking
Posted on 11/23/11 at 6:29 pm
Posted on 11/23/11 at 6:29 pm
I understand not as many banks offer credit training programs as were around 20 years ago. Seems like a great opportunity/experience to have starting off. Have talked with a few that still do the credit training and/or management training. Just curious if any of you here know of your bank offering training programs, and when/where the program takes place. Thanks in advance.
This post was edited on 11/23/11 at 6:37 pm
4
Posted on 11/23/11 at 6:35 pm to ShYzA
What is an "OT banker"?
Posted on 11/23/11 at 6:37 pm to LSURussian
Damn, forgot I wasn't in OT. Preeciate it!
Posted on 11/23/11 at 6:50 pm to LSURussian
quote:
What is an "OT banker"?
This. There's a reason for the term "bankers' hours".
Posted on 11/23/11 at 8:13 pm to ShYzA
I work for a bank. Started as a credit analyst and moved up into underwriting. Very good experience to have. And, actually, the Bank has just instituted a formal credit training program company-wide across all markets instead of just in Louisiana.
Posted on 11/23/11 at 9:38 pm to ShYzA
Be prepared to be a "worthless bitch monkey" and have long hours.
If you can make it through the analyst program, you will have learned a lot and be very marketable. The jobs are not easy to get, though. Definitely worth it if you can bag one.
If you can make it through the analyst program, you will have learned a lot and be very marketable. The jobs are not easy to get, though. Definitely worth it if you can bag one.
Posted on 11/24/11 at 1:54 pm to TheHiddenFlask
This post was edited on 11/24/11 at 1:55 pm
Posted on 11/24/11 at 8:06 pm to foshizzle
quote:
"bankers' hours"
not what they once were
Posted on 11/24/11 at 8:44 pm to geauxtigers12
Thanks for input. 
What starting job isn't?
quote:
Be prepared to be a "worthless bitch monkey" and have long hours.
What starting job isn't?
Posted on 11/25/11 at 6:48 am to ShYzA
Tha was a quote from the resident MT i banker. The hours are longer than an average starting job, but not out of line for finance.
Posted on 11/27/11 at 2:36 pm to ShYzA
I did the two year program with Hibernia in the mid-90's. Very good experience to get, but the pay sucks, the analyst job itself is terribly boring and get ready for some big egos and a whole lot of office politics - there are a lot of personal agenda's with the senior lenders and credit officers that have nothing to do with the best interests of the bank. But all in all, snag it if you can, I've gotten a great career out of it - that experience and being able to speak that language will open doors you can't imagine.
Posted on 11/27/11 at 3:15 pm to TheHiddenFlask
quote:
Tha was a quote from the resident MT i banker. The hours are longer than an average starting job, but not out of line for finance.
To the tune ~90 hours a week....
I'll gladly take my 60 hour weeks.
Posted on 11/28/11 at 8:12 pm to lynxcat
quote:
But all in all, snag it if you can, I've gotten a great career out of it - that experience and being able to speak that language will open doors you can't imagine.
What direction did you go right after credit training if you don't mind me asking? Still at the bank? TIA.
Posted on 11/29/11 at 2:42 pm to GrantTheFan
quote:
I did the two year program with Hibernia in the mid-90's. Very good experience to get, but the pay sucks, the analyst job itself is terribly boring and get ready for some big egos and a whole lot of office politics - there are a lot of personal agenda's with the senior lenders and credit officers that have nothing to do with the best interests of the bank. But all in all, snag it if you can, I've gotten a great career out of it - that experience and being able to speak that language will open doors you can't imagine.
Can't add much more here. My wife got an accounting degree and a job as a credit analyst at Hibernian as well. She hated it for the reasons above.
You spend 90% of your time spreading financial statements and assembling craploads of paperwork for loan committee. Not glamorous at all. Be prepared to be reminded occasionally by lenders and portfolio managers that you are indeed at the lowest rung of the ladder.
If you do want to go into non-retail banking it's a good opportunity. You'll learn more than you think you will. You'll get to work with people who know a ton about banking, not just lending.
I currently work for BB&T and took a semester off from school to work full time in credit administration many moons ago. seems that "formalized" credit analyst training programs aren't as prevalent as they were like ten years ago, probably due to the lack of commercial and small business lending nowadays. But that might be a good thing. The lack of structure can allow you to mold the gig to suit your career desires.
Good luck!
Posted on 12/5/11 at 10:01 pm to ShYzA
I went into small business lending simply because there was an opening there with nothing on the horizon in commercial lending. I did that for a couple years, then moved into a mortgage underwriting management role, mostly for the money. After a couple years there, a consulting company hired by the bank made a strong recruiting push for me to go to work for them - they were just beginning to build an automated lending decision engine and needed people with the all-around lending experience that I had. They doubled my salary, so I jumped. After doing project management stuff with them for a few years, I had enough experience and contacts in the industry to strike out on my own, so I've been doing lending consulting with various banks for the last few years. My current gig is working with a regional bank in the northeast that's saddled with a pretty big over-concentration in commercial real estate. I'm basically writing their responses to FDIC auditors who want certain loans placed in non-accrual status that the bank feels are still workable. My next one is with a bank in Utah that wants to set up an in-house scratch and dent team instead of selling them for $0.30 on the dollar. I do about 70% of my work from home, the rest is travel to client sites. It's good work, pays the bills and I feel pretty lucky, there are 10 jobs out there for every one I even consider.
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