Human Resource Management And Retail Banking

1317 WordsApr 11, 20176 Pages
Functional Areas Apart from the typical functional areas of any organization, which consist of Accounting, Finance, Human Resources, Marketing and Information Technology, the banking industry has slightly different functional areas. The most important area in any commercial bank is the Consumer Lending area, which typically deals with loans in regards to individual and household consumers. This includes home and auto loans, as well as personal loans. Another functional area in the banking industry is the Internal Audit department. The Internal Audit department oversees the effectiveness of the bank’s controls. In governing controls, Internal Audit helps to assess and manage risk for the business. In the case of Regions Bank, even though…show more content…
Under this program employees would be rotating throughout multiple functional areas with the organization.These department rotations may include business group support in areas such as corporate or regional banking, compensation and organizational efficiency and effectiveness. Regions Bank is very driven and committed to providing customers with the best customer service,which means that continual training and development of the company’s personnel is very important to the success of the organization. The MAP program is essentially put in place to develop vital and critical skills that would enhance the overall organizational effectiveness. This strategy would not only foster strong organizational skills and maintain positive relationship internally, but most importantly develop and maintain long-term relationships with the company’s customers. The firm is organized where the employees are incentivized by how many accounts an employee can open, if the account is actually used. This allows the Region 's representatives to inform the client of all the services and products that Regions offers. In addition, the employee cannot just open an account and get paid, but must ensure that that service or product is used by the client. Thus, the employee is aware of what the clients wants and needs in order to offer a product or service accordingly. Based on reviews and rating from both past and present employees around the country
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