What Is a Branch Manager?

The term “branch manager” refers to an executive who oversees activities of a specific location, often a branch, of a financial organization like a bank.

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 Managers

Afinancial institution’s executives place great confidence in the company’s branch managers, expecting them to run their locations as their own businesses.

Job Description

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 oversees the performance of other employees, such asbank tellers, back office workers, andloan officers.

Special Considerations

The U.S.Bureau of Labor Statistics (BLS) is the go-to source for information about the labor market and the economy in the United States 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 $161,700 or $77.74 per hour in 2024.

The job outlook for financial managers is faster-than-average growth compared to other industries. The BLS predicts this field will grow by 17% between 2023 and 2033. The agency expects that the number of jobs will increase by 138,300 in this 10-year period.

Requirements For Branch Managers

Because their responsibilities include developing and maintaining good relationships with customers and employees, branch managers should possess strong skills related to sales, people management, andcustomer service.

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 aboutnetworking to bring in new business and increaserevenue. 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 Qualifications

Branch 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 people for branch manager positions look for candidates with prior financial experience, proven leadership experience, and a track record of increasing the number of accounts.

Banks expect branch managers to be deeply knowledgeable aboutbanking regulations. Once hired, branch managers have the freedom to choose their teams, but they also must be able to ensure their teams’ success.

The Bottom Line

A branch manager is a key employee at any financial institution that maintains branch offices. A branch manager takes charge of a branch office and is responsible for all operations and customer activities that occur there, as well as for community outreach and relationship building.

The branch manager oversees and interacts with employees, customers, and other members of the community to build the branch’s sales opportunities, grow its customer base, and successfully achieve important goals.