Work Environment
This occupation is typically found in the following Career Sector(s):
Videos on the Web
- Building Society Manager- from: Youtube Search
Most commonly reported Work Activities
- Interacting With Computers Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Communicating with Supervisors, Peers, or Subordinates Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Guiding, Directing, and Motivating Subordinates Providing guidance and direction to subordinates, including setting performance standards and monitoring performance.
- Coaching and Developing Others Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
- Monitor Processes, Materials, or Surroundings Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Establishing and Maintaining Interpersonal Relationships Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Organising, Planning, and Prioritising Work Developing specific goals and plans to prioritise, organise, and accomplish your work.
- Evaluating Information to Determine Compliance with Standards Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Coordinating the Work and Activities of Others Getting members of a group to work together to accomplish tasks.
- Getting Information Observing, receiving, and otherwise obtaining information from all relevant sources.
Working Life
Building society managers are in charge of the efficient operation and profitability of their branch. This includes compiling reports and statistical records for head office.
They may supervise, train and appraise staff, though many of the routine matters relating to staff welfare and work practices are often delegated to an assistant manager.
Branch managers generate new investments by visiting business contacts to market various investment schemes. They also advise investors on the merits of each type of account. Managers interview prospective home owners to assess their suitability for a mortgage loan and advise them of the financial implications of any decision.
They also liaise with surveyors, solicitors, bankers and brokers when arranging property transactions. They also prepare reports and present information for staff and head office.
Building societies and banks offer similar types of accounts and services. Building society managers need to be familiar with a wide range of financial services including estate agency, insurance broking, stocks and shares, as well as cheque book accounts and service till facilities.
Most commonly reported Work Tasks
- Establish and maintain relationships with individual or business customers or provide assistance with problems these customers may encounter.
- Plan, direct, or coordinate the activities of workers in branches, offices, or departments of establishments, such as branch banks, brokerage firms, risk and insurance departments, or credit departments.
- Recruit staff members.
- Prepare operational or risk reports for management analysis.
- Evaluate data pertaining to costs to plan budgets.
- Oversee training programmes.
- Examine, evaluate, or process loan applications.
- Approve, reject, or coordinate the approval or rejection of lines of credit or commercial, real estate, or personal loans.
- Oversee the flow of cash or financial instruments.
- Prepare financial or regulatory reports required by laws, regulations, or boards of directors.
Qualities - Building Society Manager
You need to be well presented and articulate. Reliability and trustworthiness are important qualities to have. You will also need to develop a good interviewing technique and negotiating skills. Numeric competence and the ability to use and understand computers are important.
Interests - Building Society Manager
This occupation is typically suited for people with the following Career Interests:
Enterprising
Enterprising people like situations that involve using resources for personal or corporate economic gain. Such people may have an opportunistic frame of mind, and are drawn to commerce, trade and making deals. Some pursue sales and marketing occupations. Many will eventually end up owning their own business, or in management roles in larger organisations. They tend to be very goal-oriented and work best when focused on a target. Some have an entrepreneurial inclination.
Administrative
Administrative people are interested in work that offers security and a sense of being part of a larger process. They may be at their most productive under supervisors who give clear guidelines and while performing routine tasks in a methodical and reliable way.
They tend to enjoy clerical and most forms of office work, where they perform essential administrative duties. They often form the backbone of large and small organisations alike. They may enjoy being in charge of office filing systems, and using computers and other office equipment to keep things running smoothly. They usually like routine work hours and prefer comfortable indoor workplaces.
Social
The Social person's interests focus on interacting with the people in their environment. In all cases, the Social person enjoys the personal contact with other people in preference to the impersonal dealings with things, data and ideas found in other groups.
Many will seek out positions where there is direct contact with the public in some advisory role, whether a receptionist or a counsellor. Social people are motivated by an interest in different types of people and like diversity in their work environments. Many are drawn towards careers in the caring professions and social welfare area, whilst others prefer teaching and other 'informing' roles.
Entry / Progression - Building Society Manager
Each Banking/ Building Society institution has specific entry requirements. In general preparation of your skills, experience, and qualification in financial services, customer service, and management.
Sample Education and Training Pathways
A number of courses are available throughout the country that focus on learning and skills that may be useful for this career. The examples and links below may guide you in your research.
Further Education (FET)
Further Education & Training (FET) Courses are delivered by local ETBs, ranging in duration from several weeks up to 20 months. Courses are designed to meet the labour market needs and often include a large element of work experience.
Example search terms include: business admin, accounting technician, supervisory management.
Search for FET Courses
PLC Courses (FET)
PLC courses are full-time courses, one or two years duration, with awards at Level 5 and 6 on the NFQ. They are offered nationally in Schools and Colleges of Further Education.
Example search terms include: business management, sales, marketing, commerce, banking, financial services, insurance, pre-apprenticeship, e-business studies with banking and insurance, accounting.
Search for PLC Courses
Apprenticeships:
Apprenticeships are structured work-based training programs that combine on-the-job training with classroom instruction. They run from 2 – 4 years and are open to individuals of all ages, including school leavers, those seeking a career change, and existing employees who wish to upskill.
Examples: Accounting, Financial Services, Sales.
Search for Apprenticeships
Higher Education CAO (Undergraduate)
Higher Education courses at Levels 6 to 8 on the NFQ, delivered in Universities and Technological Universities & Institutes. Courses run from 2 – 5 years and places are allocated on a points-based system, processed by the Central Application Office.
Example search terms include: business, commerce, economics, maths, statistics, accounts, finance.
Search for CAO Courses
Higher Education (Postgraduate)
Postgraduate courses are courses at Levels 9 and 10 on the NFQ and usually last 1 – 2 years full time, or longer if a PhD or part time. Entrants typically require an undergraduate award (Level 8).
Example search terms include: sales, business, accounts, management, regulatory and compliance, financial advice.
Search for Postgraduate Courses
Professional Development
Professional development (CPD) courses are specialised training, formal education, or advanced professional learning that improves skills, professional knowledge, competency, and overall effectiveness in the professional world.
International Financial Services Skillnet Network
The 30% club: Growth Through Diversity
Irish Banking & Payments Federation
Check the Useful Contacts tab on this page to see if there are any professional bodies listed who may provide training related to this career.
Pay & Salary - Building Society Manager
Salary Range (thousands per year)* €45k - €85k
Salaries vary based on employer, location, experience, duties, and role.
Data Source(s):
Clark / Morgan McKinley / Sigmar/ Talent / Osborne
Last Updated: July, 2024
Labour Market Updates - Building Society Manager
Note: The following information relates to occupations that include: Financial managers; directors Financial institution; managers and directors.
This information has been derived from the Solas National Skills Bulletin (2023).
Employment has grown annually for this occupation since 2019, resulting in an above average annual growth rate over the five-year period. Between quarter 4 2021 and quarter 4 2022, there was little growth in employment for the financial institution managers, with most of the growth relating to other financial managers/directors. Four-fifths of employment is concentrated in the financial activities sector. Although small in number, online job adverts grew by 7% in 2022.
Spotlight on Skills data points to a continuing demand for a range of financial related skills, including financial management, acumen, analysis and forecasting. Skills for financial managers, and in particular financial institution managers, are evolving with the changing nature of the financial sector, e.g. the impact of automation and digitalisation, the move to online banking and the transition to sustainable finance, with upskilling/reskilling likely to be a key requirement to meet future demand.
Useful Contacts - Building Society Manager
-
FSU Financial Services Union (former IBOA)
