Career mobility

Comerica Bank / Finance etvO76
Jun 6 20 Comments

Currently a bank teller with a degree. What positions should I apply for next?

Want to get into credit. would the NACM credit certificate be a nice addition to my resume?

Had no prior exposure while attending school. No internships. Really put myself in a hole. No employer wants to hire someone without prior credit exposure

Any help or advice would be appreciated.

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TOP 20 Comments
  • New / Finance SpinCycles
    Put yourself into a hole indeed. No internships with only work experience being a bank teller is going to be a massive hurdle to overcome. Most people won't think of you as working in finance but working in customer service instead. You're going to have to do something very notable to get yourself out of this rut. CFA could do it. Certainly is an undertaking but it is a very meaningful thing to put on your resume.
    Jun 6 5
    • Comerica Bank / Finance etvO76
      OP
      I had the intention of working at a particular bank and then applying into the commercial credit program that many banks offer. But for some reason they prefer to hire externally with people who have already filled similar roles.

      My goal is to essentially be a financial analyst or credit analyst. Or something similar in nature.

      Were there any certifications or aptitude exams that could possibly help strengthen my resume? While still working full-time to support myself.
      Jun 6
    • New / Finance SpinCycles
      As I mentioned the CFA is a very meaningful certification for finance positions in general. Charted Financial Analyst. It takes a lot of studying, and a minimum of 18 months to pass all three levels.
      Jun 7
    • Comerica Bank / Finance etvO76
      OP
      I will definitely look into the CFA designation.After briefly looking at the website I noticed the test is taken in 3 separate parts. I feel like even if I have that I have completed 1 or 2 of the exams it would be beneficial to note on my resume as a way to demonstrate my eagerness to enter the industry?? Also how much effort / study time do you think this requires??
      Jun 7
    • New / Finance SpinCycles
      Yes listing something on your resume like "CFA level 2 candidate" or "CFA level 3 candidate" is acceptable and would look good for you. The advice I've heard is that each level takes around 300 hours of study.
      Edit: Its also worth noting that level 1 is offered every 6 months, and levels 2 + 3 are only offered once per year.
      Jun 7
    • Comerica Bank / Finance etvO76
      OP
      Awesome. Will definitely take a look at CFA level 1 to start. I keep reading that the only challenging part about the exam is the amount of time you need to study. Which 300+ hours does seem absurd, however it is still pretty manageable with some sacrifice.
      Jun 7
  • Goldman Sachs
    123Thisguy

    Goldman Sachs

    PRE
    JPMorgan Chase & Co.
    123Thisguymore
    Try to get into an entry level type analyst role at a big financial firm (GS back office has been known to hire people with not much direct experience). Lots of potential for growth once you get your foot in the door. Experience is worth more than education so work harder to get that in my opinion.
    Jun 9 3
    • New / Finance PMP232
      Since you work at GS, will you be able to give me a referral for a back office team? I’ll appreciate if you can. And if not, thanks for considering!
      Jun 11
    • Comerica Bank / Finance etvO76
      OP
      I will take a look for sure. Just seems the job market for entry-level jobs has become absurd. Just need a foot in the door somewhere. More than capable to fulfill these roles. Just need to be given an interview / chance. You do not happen to have any references by chance do you?
      Jun 11
    • Goldman Sachs
      123Thisguy

      Goldman Sachs

      PRE
      JPMorgan Chase & Co.
      123Thisguymore
      Not real sure, I'd say cast a wide net and take what you can get to get in the door. Hiring isn't what it was a year ago so it's definitely tougher
      Jun 11
  • New / Data AEbX28
    If you are in the Cleveland, OH, Buffalo, NY, or Phoenix, AZ, a company called AML Rightsource is almost always hiring for new AML (Anti Money Laundering) Analysts. The work is a bit dull (reviewing transactional data using, typically, Excel and being able to do some basic work in Oracle/SQL/Norkom) and the ever present issue of constantly being a contractor for whatever financial institution you're reviewing for, but the benefits are good - even though the pay for my time in has been a bit sub standard.
    Jun 6 3
    • Comerica Bank / Finance etvO76
      OP
      Unfortunately I do not live in either of those places. Possibly moving to Phoenix soon though. Currently in Southern California. That is something I may be interested in.

      What are the Baseline requirements usually? Hey can't be much worse than what I am getting paid currently. Living below the poverty line.

      Also any tips on improving my skills in Excel? University I used it moderately. I think improving my skills Excel drastically would increase my chances in a lot of these positions
      Jun 6
    • New / Data AEbX28
      The baseline requirements for the position are a Bachelors degree (there have been everything from English majors to Data Analyst majors to Physics majors in the employ of the company, just as long as you have at least a BA/BSc), the ability to make arbitrary decisions based on limited information without constantly bugging QA/QC or higher ups (after some break-in time), knowing how to generate a Pivot Table, and using the basic Max/Min/Sum/Average commands in Excel. Being able to use the Get Data function for pre-filtering from large CSV (comma separated value) files is Nice, but not required initially. Also a willingness to constantly be learning about new regulations and willingness to take courses (provided and paid time by the company) is necessary.

      It's not hard work, per say, and they do offer to get you AML certified after 1 year with them, as long as you are willing to stay for an additional 2 years afterwards with them.

      The pay, though, for me it was 42k/year initially, plus ~1k/year in bonuses initially. They do offer pay "between 40k - 50k per year" in Phoenix, but you have to be able to market yourself well to get better pay. There has been mention internally of going to a more standard pay scale, but I haven't seen anything come from that (it was announced ~6 months ago in a quarterly meeting, no mention since then).
      Jun 6
    • Comerica Bank / Finance etvO76
      OP
      That is refreshing to hear. I only Minored in Finance and got my degree in History. Was not under the impression that finding a decent entry-level job would be so problematic (lol). I am able to navigate through pivot tables and CSV files as I was exposed to it a little in University. Would like to dive a little deeper into, however I want a work simulated scenario as compared to just playing around for the heck of it. If that makes sense?

      Pay does not seem too bad especially in Phoenix where cost of living is lower (I am assuming) than where I live in socal. Also I am making less than that and getting by. Highly considering this as an option
      Jun 7
  • Micron / Finance muun
    Seems like you could go for a corporate financial analyst position as well. Then you could get more options from there.
    Jun 6 3
    • Comerica Bank / Finance etvO76
      OP
      I mean that is what I have been aiming for but most require two to three years of experience and financial modeling. Just had an interview for an asset review analyst and unfortunately got declined.

      Was curious if there was any certifications or credible aptitude test to demonstrate my ability to learn?

      I work in a highly affluent area where many individuals have Masters and jobs are very competitive.

      My thinking with the bank teller with with the hopes that I can get my foot in the door for a commercial credit program. Which did not seem to be the case as a higher externally with people who are already have experience in similar roles
      Jun 6
    • Micron / Finance muun
      I'd keep applying for stuff. They always say 2-3 years but it's not always necessary and there may be an entry-level position you could grab. Things always happen more slowly than you want. There may be a banking position that opens up that is a bit better fit of what you're looking for, and then you could use that time to get an MBA or CFA or something.
      Jun 6
    • Comerica Bank / Finance etvO76
      OP
      Yeah I assume overtime and after a few interviews I will eventually be offered a position. But because I live in a highly affluent area guys coming out of school with MBA's are taking jobs that pay $20 an hour.

      Was wondering what the best way to improve my Excel skills is. For example pivot tables.

      Just embarrassed to be at this point in my life and I feel stuck in this shity job when I know I could do so much better
      Jun 6
  • New / Finance PMP232
    Certain small PE firms and prop shops have internships that are normally unpaid but are aimed at getting a foot in the door. You can work on a CFA alongside that and get like a Micromasters certificate from EdX in the area of your choice. Also, look out for large companies’ finance rotational programs.
    Jun 7 0
  • Comerica Bank / Finance etvO76
    OP
    Only problem with the internship route is that I will not be able to survive. Wish I had no expenses but unfortunately I do. The micromasters in Credit Risk & Credit Analysis does seem very appealing though. Will have to look more into it.

    Always looking for rotation programs. Any sites / recruiting firms that you would recommend to me?
    Jun 7 0