Many large companies, such as banks and mortgage firms, have smaller branches on a local or regional level. The person in charge of overseeing these branches is called the Branch Manager. He or she is responsible for all the daily activities occurring within the branch to ensure financial success. These activities vary depending on the type of branch and services offered. On a daily basis, activities could include financial planning, customer service or employee training. He/she will usually report to a Regional Branch Manager. With proven success as a Branch Manager, he/she may be able to move up in position to a higher ranking operations manager in the company.
- Position Uniqueness
Unlike many other OM positions which are highly specialized, a Branch Operations Manager’s job can involve many different fields. This is because the Branch Operations Manager is in charge of overseeing everything that goes on in the branch from business relationships with customers to adhering to company policies. Branch Operations Managers must be equally versed in customer services as they are at scheduling, organization and business relations.
- Day in the Life
How you will spend your day as a Branch Operations Manager depends on the field in which you work and the size of the branch. You can expect to have a nice, spacious office and keep normal working hours Monday through Friday. Rarely do Branch Operations Managers work late hours, especially in banks. You may need to take your work outside of the office though when having meetings with potential clients. On a daily basis, you can expect to review finance reports, compare them to the budget, predict profits, supervise loans, meet with clients, provide customer service, and you may even be responsible for training staff that you hire.
- Personality Type
Branch Operations Managers need to be a mix of type A and B personalities. The type A part must have the great organizational skills to keep track of the daily operations of a branch. They must also be great with finances, mathematics and computers in order to make sure that the branch is profiting. The type B part of a Branch Operations Manager involves the communication and leadership skills necessary for working closely with a team of employees. It also involves customer service skills which are necessary for keeping clients happy.
Most Branch Operations Managers are expected to have a four year degree in a business or finance related major. Usually, several years’ experience in the field and at least two years of managerial experience are also necessary. In some cases, people with just high school diplomas can become Branch Operations Managers by rising from within the company.
- Rate of Pay
The rate of pay for Branch Operations Managers ranges from about $43 to $110k yearly with the median salary at $73k. This varies depending on the type of branch managed with Financial Branch Operations Managers receiving one of the higher salaries. Branch Operations Managers can also expect benefits and large bonuses.
- Businesses Hiring
The job outlook for Branch Operations Managers is good in many different fields. Because branches are by nature smaller parts of a larger company, there is also a lot of room for growth within the company. However, you may be expected to relocate in order to receive promotion.
Author: Artyom Malkov
MBA Operations Management and International Business from Zicklin School of Business