Vice president in financial services

What is a vice president in financial services and what do they do?

A vice president (VP) is a senior position in a bank who contributes to the generation of profits at the institution. VPs exist in the front office, where they may specialise in areas such as investments and asset protection and are responsible for deal generation, client management or identifying other ways to generate revenue. They are also found in the back and middle offices where they may contribute to profit generation through managing risk, controlling costs or contributing to overall company performance in other ways.

They will work with other VPs and corporate executives to establish and monitor short and long-term financial and operational goals for the organisation, adjusting policies to meet them as required.

Typically, individuals at this level will have management responsibility, and will oversee a team of analysts and associates in their area. They will often also be responsible for resource planning, overseeing staffing levels, monitoring industry intelligence, competitor evaluation and may even contribute to sales and marketing strategies.