Business Administration Concentration in Banking to Reflect Evolving Industry
A call for help from a local bank led to a new concentration within Wilmington College’s business administration academic major.
WC approved banking starting with the fall 2020 semester, however those interested in pursuing the potentially lucrative field can start taking courses this fall.
Dr. Angela Mitchell, professor of business administration, said a banking institution approached the College with a need for workers possessing certain skill sets. “They inquired, ‘Is there anything you can do to help us find skilled employees?’” she said. “The banking industry wants to attract young talent.”
Mitchell noted the field is changing from the popular images of traditional tellers lining windows along a counter. Banks today are seeing an increased need for such positions as loan officers, community relations managers, sales representatives, bank/brand marketing staff, internal auditors, data processing personnel and risk management professionals.
The concentration is designed to develop expertise in the core concepts in business administration, accounting and economics while including a focus on industry-specific issues.
“With the solid business training, coupled with the required banking hands-on experience, students will be poised to enter a management trainee program and take on leadership positions in the industry,” she added.
Mitchell said a number of key factors involving the banking industry and current economic environment make this an especially opportune time for students to consider careers in banking. Besides the changing nature of the business, the low unemployment rate and a large number of retirements by Baby Boomers are making careers in banking especially appealing.
The College worked with bank executives is designing the new curriculum, which features such existing courses as Money & Banking and Consumer Economics & Accounting, along with such new courses as Personal Finance and Regulation, Commercial & Consumer Lending. Also, an internship is required.
Students can tailor their elective courses to their specific areas of interest, such as Financial Management in Agriculture, Professional Business Writing and learning such skills as website and publication design.