Financial Institution Officers and Managers

High School

You will need at least a bachelor's degree if you want to work as a financial institution officer or manager. While you are in high school, therefore, you should take classes that will give you a solid preparation for college. Recommended classes include mathematics, such as algebra and geometry, science, history, and a foreign language. Take English courses to improve your researching, writing, and communication skills. Also, take computer classes. Computer technology is an integral part of today's financial world, and you will benefit from being familiar with this tool. Finally, if your high school offers classes in economics, accounting, or finance, be sure to take these courses. The course work will not only give you an opportunity to gain knowledge but will also allow you to see if you enjoy working with numbers and theories.

Postsecondary Training

Suggested college majors include accounting, economics, finance, or business administration with an emphasis on accounting or finance. You will need to continue honing your computer skills during this time. Also, you should take business law classes. Federal and state laws regarding business and finance change, so you will need to familiarize yourself with current regulations.

Financial institutions increasingly seek candidates with master's degrees in business administration for management positions. So keep in mind that you may have to pursue further education even after you have completed your bachelor's degree. No matter what level of degree you obtain, however, you will also need to keep up your education even as you work. Many financial management and banking associations offer continuing education programs in conjunction with colleges or universities. These programs are geared toward advancing and updating your knowledge of subjects such as changing banking regulations, financial analysis, and international banking.

Certification

The National Association of Credit Management offers the following certificates: Financial Statement Analysis I, Financial Statement Analysis 2: Credit and Risk Assessment, and Business Credit Principles. The American Bankers Association (ABA) offers several certificates that will be of interest to financial managers, including branch manager, fraud prevention, personal banker certificate, and small business banker certificates. Contact these organizations for more information.

Other Education or Training

Continuing education opportunities are provided by many associations. Financial Executives International, for example, offers webcasts, conferences, and self-study programs in topics such as accounting, auditing, general management practices, taxation, and personal development. The ABA offers a variety of professional development opportunities, including webinars such as Security Insights and Emerging Technology: Safeguarding the Future of Banking; Creative Problem Solving for Banking Professionals, and Navigating the Intersection of Cyber Risk Management and Governance. The Association for Financial Professionals provides virtual seminars, webinars, and in-person seminars on financial risk management, capital budgeting, cash flow forecasting, and other topics. The CFA Institute, National Association of Credit Management, and the Mortgage Bankers Association also provide continuing education opportunities. Contact these organizations for more information.

Additionally, many large companies have management training programs that help develop workers who are identified as being "management material."