Popular Careers

Career Development

Career development resources for aspiring professionals.

Career Change Center

Career change guides, tutorials and resources for professionals in transition.

Job Search Resources

Job search resources, websites, guides and directories for job seekers.


Career and Education Opportunities for Banking Managers in Elgin, Illinois

There are many career and education opportunities for banking managers in the Elgin, Illinois area. Currently, 19,900 people work as banking managers in Illinois. This is expected to grow by 11% to 22,060 people by 2016. This is better than the nation as a whole, where employment opportunities for banking managers are expected to grow by about 7.7%. Banking managers generally direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.

Banking managers earn approximately $50 per hour or $104,850 yearly on average in Illinois. Nationally they average about $47 per hour or $99,330 per year. Earnings for banking managers are better than earnings in the general category of Financial in Illinois and better than general Financial category earnings nationally. Banking managers work in a variety of jobs, including: cash manager, lending manager, and service center manager.

There are seven schools within twenty-five miles of Elgin where you can study to be a banking manager, among sixty-one schools of higher education total in the Elgin area. Banking managers usually hold a Bachelor's degree, so you can expect to spend about four years training to become a banking manager if you already have a high school diploma.

CAREER DESCRIPTION: Banking Manager

In general, banking managers direct and coordinate financial activities of workers in a branch, office, or department of an establishment, such as branch bank, brokerage firm, risk and insurance department, or credit department.

Banking managers establish and maintain relationships with individual and business customers, and furnish assistance with problems these customers may encounter. Finally, banking managers recruit staff members and oversee training programs.

Every day, banking managers are expected to be able to listen to and understand others in meetings. They need to articulate ideas and problems. It is also important that they read and understand documents and reports.

It is important for banking managers to formulate and direct the efforts of staff in branches or departments of such establishments as branch banks, brokerage firms, risk and insurance departments, or credit departments. They are often called upon to examine and process loan applications. They also oversee the flow of cash and financial instruments. They are sometimes expected to approve or direct the approval or rejection of lines of credit and commercial and personal loans. Somewhat less frequently, banking managers are also expected to ready operational and risk summaries for management analysis.

Banking managers sometimes are asked to communicate with stockholders and other investors to furnish data and to raise capital. They also have to be able to establish processes for custody and control of assets and securities to insure safekeeping and submit delinquent accounts to attorneys or outside agencies for collection. And finally, they sometimes have to analyze and classify risks and investments to establish their potential impacts on companies.

Like many other jobs, banking managers must have exceptional integrity and be thorough and dependable.

Similar jobs with educational opportunities in Elgin include:

  • Administrator. Plan, direct, or coordinate supportive services of an organization, such as recordkeeping, mail distribution, telephone operator/receptionist, and other office support services. May oversee facilities planning and maintenance and custodial operations.
  • Comptroller. Direct financial activities, such as planning, procurement, and investments for all or part of an organization.
  • Purchasing Manager. Plan, direct, or coordinate the activities of buyers, purchasing officers, and related workers involved in purchasing materials, products, and services.

EDUCATIONAL OPPORTUNITIES: Banking Manager Training

Elmhurst College - Elmhurst, IL

Elmhurst College, 190 Prospect Ave, Elmhurst, IL 60126-3096. Elmhurst College is a small college located in Elmhurst, Illinois. It is a private not-for-profit school with primarily 4-year or above programs. It has 3,315 students and an admission rate of 69%. Elmhurst College has a bachelor's degree program in Finance which graduated one student in 2008.

American Intercontinental University Online - Hoffman Estates, IL

American Intercontinental University Online, 5550 Prairie Stone Pky-Ste 400, Hoffman Estates, IL 60192. American Intercontinental University Online is a large university located in Hoffman Estates, Illinois. It is a private for-profit school with primarily 4-year or above programs. It has 22,963 students and an admission rate of 45%. American Intercontinental University Online has a bachelor's degree and a master's degree program in Accounting and Finance which graduated 418 and 168 students respectively in 2008.

North Central College - Naperville, IL

North Central College, 30 N Brainard St, Naperville, IL 60540. North Central College is a small college located in Naperville, Illinois. It is a private not-for-profit school with primarily 4-year or above programs. It has 2,726 students and an admission rate of 69%. North Central College has a bachelor's degree program in Finance which graduated eleven students in 2008.

Aurora University - Aurora, IL

Aurora University, 347 S Gladstone Ave, Aurora, IL 60506-4892. Aurora University is a small university located in Aurora, Illinois. It is a private not-for-profit school with primarily 4-year or above programs. It has 4,291 students and an admission rate of 80%. Aurora University has a bachelor's degree program in Finance.

Benedictine University - Lisle, IL

Benedictine University, 5700 College Rd, Lisle, IL 60532-0900. Benedictine University is a medium sized university located in Lisle, Illinois. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,053 students and an admission rate of 80%. Benedictine University has a bachelor's degree program in Finance which graduated four students in 2008.

Lewis University - Romeoville, IL

Lewis University, One University Parkway, Romeoville, IL 60446-2200. Lewis University is a medium sized university located in Romeoville, Illinois. It is a private not-for-profit school with primarily 4-year or above programs. It has 5,536 students and an admission rate of 71%. Lewis University has a bachelor's degree and a master's degree program in Finance which graduated five and zero students respectively in 2008.

Northern Illinois University - Dekalb, IL

Northern Illinois University, 1425 W. Lincoln Hwy., Dekalb, IL 60115-2825. Northern Illinois University is a large university located in Dekalb, Illinois. It is a public school with primarily 4-year or above programs. It has 24,397 students and an admission rate of 58%. Northern Illinois University has a bachelor's degree program in Finance which graduated 140 students in 2008.

CERTIFICATIONS

Chartered Property Casualty Underwriter: More than 65,000 people have earned the CPCU professional designation.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Insurance Services: The Associate in Insurance Services program is a nationally recognized educational program designed specifically for insurance personnel.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Associate in Risk Management for Public Entities: The Insurance Institute of America's newly revised Associate in Risk Management (ARM) designation program will teach your employees the practical, relevant skills they need to help manage risk at all levels of your company.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Risk Management for Public Entities: Understand the unique nature of the public sector.

For more information, see the American Institute for CPCU and Insurance Institute of America website.

Manager of Quality/Organizational Excellence: The Certified Manager of Quality/Organizational Excellence is a professional who leads and champions process-improvement initiatives’ everywhere from small businesses to multinational corporations’ that can have regional or global focus in a variety of service and industrial settings.

For more information, see the American Society for Quality website.

Certified Treasury Professional Associate: We recognize the accomplishments of these full-time students who successfully completed the Corporate Treasury Management program at their college/university and passed the CTP exam to earn the Certified Treasury Professional Associate credential.

For more information, see the Association for Financial Professionals website.

Certification in Distressed Business Valuation: The Certification in Distressed Business Valuation (CDBV) is a unique valuation certification program designed to train and accredit professionals who value distressed assets, including distressed and/or bankrupt companies.

For more information, see the Association of Insolvency and Restructuring Advisors website.

Certified Bank Auditor: The purpose of BAI Center for Certification - Certified Bank Auditor® (CBA) Continuing Professional Education (CPE) Program is to promote professional development and to provide a means for recognizing CBAs to keep current with industry changes or furthering their own development in banking, technology, auditing, or other disciplines that contribute to a CBA?s growth and development.

For more information, see the BAI Center for Certification website.

CIAC-Certified Strategic Leader: The Strategic Leader designation is applicable to executives who are responsible for the leadership and strategic management of a contact center.

For more information, see the Call Center Industry Advisory Council website.

Certified Financial Planner: The CFP certification process, administered by CFP Board, identifies to the public that those individuals in the U.

For more information, see the Certified Financial Planner Board of Standards, Inc. website.

Business and Employer Services - Professional Certification: Professional certification exam for Business and Employer Services in workforce development.

For more information, see the Dynamic Works Institute website.

International Certificate in Banking Risk and Regulation: The role of risk management is becoming more important as both banks and supervisors around the world increasingly recognize that sound risk management practices are vital, not only for the success of individual banks, but also for the banking system as a whole.

For more information, see the Global Association of Risk Professionals website.

Certified Lender Business Banker: Applicable to financial services professionals whose primary function and expertise focuses on the provision of credit and financial transaction services to businesses and/or corporations.

For more information, see the Institute of Certified Bankers website.

Certified Personal Banker: Applicable to financial services professionals who have completed the AIB Personal Banking Diploma and who function as personal bankers.

For more information, see the Institute of Certified Bankers website.

Certified Funds Specialist: The CFS 60-hour program provides the practitioner with everything needed to select the right fund for any given situation.

For more information, see the Institute of Certified Fund Specialists website.

Certified Manager: Certified Manager certification is valued for the credibility and recognition it brings to managers and the organizations for which they work.

For more information, see the Institute of Certified Professional Managers website.

Certified Investment Management Analyst: The CIMA offers an intense educational experience focusing on asset allocation, manager search and selection, investment policy and performance measurement.

For more information, see the Investment Management Consultants Association website.

Certified Mortgage Banker: The Certified Mortgage Banker (CMB) designation is the industry standard of professional success.

For more information, see the Mortgage Bankers Association of America website.

Program Management Professional: Project Management Institute's newest credential is specifically developed to acknowledge the qualifications of the professional who leads the coordinated management of multiple projects and ensures the ultimate success of a program.

For more information, see the Project Management Institute website.

Certified Securities Processing Specialist: The SOI Certifications are awarded in Securities Operations and one or more concentration areas.

For more information, see the Securities Operations Forum website.

Accredited Valuation Analyst: The primary goal of AVA certification is to provide you with information that will serve as a solid foundation for your professional valuation endeavors, whether or not you plan to pursue a designation.

For more information, see the The National Association of Certified Valuation Analysts website.

Certified Financial Forensic Analyst: The Certified Forensic Financial Analyst (CFFA) credential is designed to provide assurance to the legal community-the primary users of litigation support services-the designee possesses a level of experience and knowledge deemed acceptable by the Association to provide competent and professional forensic financial support services.

For more information, see the The National Association of Certified Valuation Analysts website.

LICENSES

BUSINESS BROKERS

Licensing agency: Illinois Secretary of State Securities Department
Address: Capitol Building, Room 213, Springfield, IL 62756

Phone: (217) 782-2256
Website: Illinois Secretary of State Securities Department

LOCATION INFORMATION: Elgin, Illinois

Elgin, Illinois
Elgin, Illinois photo by James Jordan

Elgin is located in Kane County, Illinois. It has a population of over 106,330, which has grown by 12.5% over the last ten years. The cost of living index in Elgin, 104, is above the national average. New single-family homes in Elgin cost $156,500 on average, which is far less than the state average. In 2008, three hundred thirty-two new homes were constructed in Elgin, down from seven hundred fifty-six the previous year.

The top three industries for women in Elgin are health care, educational services, and finance and insurance. For men, it is construction, metal and metal products, and administrative and support and waste management services. The average travel time to work is about 26 minutes. More than 20.5% of Elgin residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 6.0%, is lower than the state average.

The unemployment rate in Elgin is 12.4%, which is greater than Illinois's average of 10.5%.

The percentage of Elgin residents that are affiliated with a religious congregation, 56.0%, is more than both the national and state average. Holy Trinity Lutheran Church, Seventh Day Adventist Church and Saint Thomas More Roman Catholic Church are some of the churches located in Elgin. The largest religious groups are the Catholic Church, the Lutheran Church and the Evangelical Lutheran Church in America.

Elgin is home to the Fox Bluff Corporate Center and the Elgin Fire Station Number 2 as well as Wing Park and College Park. Shopping malls in the area include Wing Park Manor Shopping Center, Tyler Creek Plaza Shopping Center and Town and Country Plaza Shopping Center. Visitors to Elgin can choose from Elgin-Days Inn, Colonial Lodge Motel and Crowne Plaza for temporary stays in the area.