what is a branch manager 
the term branch manager refers to an executive who is in charge of a particular location or branch office of a bank or other financial services company branch managers are typically responsible for all of the functions of that branch office including hiring employees overseeing the approval of loans and lines of credit locs marketing building a rapport with the community to attract business assisting with customer relations and ensuring that the branch meets its goals and objectives in a timely manner understanding branch managersa financial institution s executives place great confidence in the company s branch managers expecting them to run their locations as their own businesses a branch manager s job description includes assuming responsibility for virtually all functions of their branch including growing that location s customer base and elevating the community s perception of the company s brand branch managers are also responsible for delegating tasks to skilled workers and for their successes and failures in fact the branch manager is responsible for the success or failure of the branch they manage excellent multitasking and organization skills are necessary to accomplish tasks in a timely and efficient manner not only for the branch manager but also for the people they manage the branch manager also oversees the performance of other employees such as bank tellers back office workers and loan officers although the term branch manager commonly refers to the leader of a bank location it can also refer to an individual responsible for the office of any type of corporation special considerationsthe bureau of labor statistics bls is the go to source for information about the labor market and the u s economy as a whole its occupational outlook handbook provides details about various careers including job descriptions outlook and pay scales although it doesn t have a distinct category for bank branch managers it does provide information for financial managers a category that includes these professionals according to the bls handbook financial managers earned an average annual salary of 134 180 or 64 51 per hour in 2020 1the job outlook for financial managers is faster than average growth when compared to other industries the bls predicts this field will grow by 15 between 2019 and 2029 the agency expects that the number of jobs will increase to 108 100 between this 10 year period 1requirements for branch managersbecause their responsibilities include developing and maintaining good relationships with customers and employees branch managers should possess strong sales people management and customer service skills other attributes required of a branch manager are diligence strong analytical skills and the ability to prioritize multitask and focus on detail branch managers are expected to be proactive about networking to bring in new business and increase revenue a new branch manager might join the local chamber of commerce and attend business and networking events where one often can meet influential community members for example a branch manager might meet a local hospital administrator and work out a deal to provide the branch s services to the hospital s employees branch manager qualificationsbranch managers usually have undergraduate degrees in finance accounting or related fields some financial institutions may look at a candidate with a bachelor s degree in another discipline as long as they have a master s degree in a finance related field in fact graduate degrees are preferred in many competitive areas where branch managers are in high demand financial institutions hiring for branch manager positions look for candidates with prior financial experience proven leadership experience and a track record of increasing the number of a bank s accounts banks expect branch managers to be deeply knowledgeable about banking regulations once hired branch managers have the freedom to choose their teams but they also must be able to ensure their teams success 