What does it means?
A location, other than the main office or headquarters, where business is conducted. Most branch offices are comprised of smaller divisions of different aspects of the company such as human resources, marketing, accounting, etc. A branch office will typically have a branch manager who will report directly to, and take orders from, a management member of the main office.
A branch manager is in charge of the branch office of a bank or financial institution. A branch manager is responsible for all of the functions of a branch location, such as hiring employees, overseeing the approval of loans and lines of credit, marketing, building a rapport with the community to attract business and assisting with customer relations. A branch manager is also responsible for making sure that the branch meets its goals and objectives in a timely fashion.
Becoming a branch manager requires more than accounting skills. A branch manager should also possess strong sales, people management and customer service skills. This is because a branch manager's responsibilities include developing and maintaining good relationships with customers and employees. Branch managers usually have undergraduate degrees in finance or related fields. However, some banks and financial institutions accept a branch manager job candidate with a non-finance-related bachelor's degree as long as the person has a master's degree in a finance-related field. Other skills implicitly required of a branch manager are diligence and the ability to pay attention to detail, prioritize and multitask, as well as having strong analytical skills.
Branch offices are useful in that it allows the administrative aspect of the business to be conducted in locations around the globe. For example, One has branch offices so as to be able to meet closely with the stores district managers in a more cost effective manner, as well as cater to, and be more informed in, the needs of specific locations.