The internal structure of a typical commercial bank generally consists of 10 different departments. These include retail banking, loan servicing, wealth management, investment banking, deposit operations, wire transfer operations, cash management, electronic banking, commercial banking and mortgage banking.
Tellers, loan officers and customer service managers work within retail banking. These banking professionals help customers with savings and checking accounts, personal loans, credit cards, debit cards and mortgages. Loan servicing agents handle individual and business loan payments and collections, while wealth management professionals help the bank's customers with financial planning and investment portfolio management services.
Deposit operations managers handle account set-up and maintenance duties, while wire transfer operators ensure that paperless, computerized account transactions are adequately processed. The cash management department ensures the bank has enough liquid assets to meet scheduled obligations. They also select short-term investment opportunities that the bank can liquidate quickly for additional cash flow when necessary.
A bank's electronic banking department is responsible for the set-up and maintenance of the bank's online financial transactions. Some employees in this market are computer hacking specialists that protect the bank's databases from being accessed by unauthorized personnel.
The mortgage banking department of a bank helps borrowers secure loans for homes and investment properties. This department also manages all of the loan payments and provides customer service to the bank's mortgage customers.