Workplace Assessment: Corporate Banking Corporate Banking, Which Essay

Workplace Assessment: Corporate Banking

Corporate banking, which is also called commercial banking, generally means a bank or division or a bank that mostly focuses on loans and deposits that belong to large businesses and corporations (Banker, 2014). This is different from the more retail banking sector, which is focused on small businesses and individuals (Kumar, 2013). There are many different kinds of services that corporate banks provide. These include lending, investing and clearing deposits, and organizing products that can be used for clients (Kumar, 2013). These products are generally specialized in that they are designed for those particular clients and not for others. Major companies and financial institutions use these types of banking services, because they are more appropriate for larger companies as opposed to smaller ones or individuals.

Overview of the Job

In order to work as a corporate banker, a person needs education and training. However, the education does not have to be in a specific discipline. The most relevant degrees are those in accounting, commerce, business, economics, law, mathematics, and finance (Banker, 2014). A person does not have to have one of these degrees, but he or she is going to be more likely to get a job as a corporate banker with a degree that is more focused on business or financial matters (Banker, 2014). The job involves working with clients who have large companies and corporations. These clients have specific needs and goals that will need to be met with investments and other types of financial vehicles. These are not all going to work for each client, so it is important to be able to determine what each client needs. A proper assessment of the client's financial situation must be done by the corporate banker, and this requires specific skills and knowledge to provide a high level of success (Oliveira & Hippel, 2012).Knowledge and Skills

There are specific skills and areas of knowledge a corporate banker needs. These are all important, and include:

An analytical, inquiring mind that offers excellent mathematical skills.

Interpersonal and communication skills.

Leadership and teamwork skills.

Organizational abilities and time management.

An awareness of the commercial or corporate sector.

The ability to work accurately, logically, and consistently with a high level of attention to detail (Banker, 2014).

Attitudes and Personality Traits

People who work as corporate bankers are generally focused on the client. They are analytical and like to solve problems (Oliveira & Hippel, 2012). They have can-do attitudes and enjoy teamwork (Banker, 2014). Additionally, they are also "Type A" personalities who enjoy work and who are able to remain focused even when there are distractions. Multi-tasking is important to them, as well, because they need to handle several different clients at once and make sure they are providing the best information to each and every one of them (Oliveira & Hippel, 2012). While it is not possible to be everything to everyone, many corporate bankers come close.

Job Description

The job description for a corporate banker can vary from job to job, but most are very similar. The one shown here is reproduced from the GradIreland website (Banker, 2014).

"Managing an assigned loan portfolio and associated client relationships in accordance with the bank's credit policy.

Identifying accounts experiencing difficulties with proactive arrears management of assigned portfolio.

Formulating repayment strategies/loan restructures/work-out arrangements in conjunction with clients for problem cases, and following through to ensure successful implementation of the same.

Preparing credit reports for presentation to credit committee and board.

Contributing to general operational decisions, including….....