Banks may have introduced services such as twenty-four-seven toll-free calling, online banking, ATMs, et al, for their consumers to seek assistance. However, in a world so complicated, customers often get irritated by the intricacies the world of banking holds, thus, wishing they had an individual to assist them on a personal basis.
It is for those innocent consumers who, sometimes, are tongue-tied over why were they charged a certain amount for free service, or which is the best loan service they can opt for, that the job of a 'personal banker' holds utmost significance.
Today, in order to minimize complications and introduce maximum assistance, banks all over the world offer the service of personal bankers for their users. Personal bankers, in simple terms, offer personal service to a selected number of clients with specific requirements with respect to banking.
This content proffers information about their job profile, salary range in the field of personal banking, and job outlook for those looking forward to make a career in banking; personal banking, to be precise.
Job Profile/Nature of Work
A personal banker does a number of things. To start with, he advises his client to invest in options that make up for the most lucrative bets. However, it would prove to be beneficial for the client only if the personal banker is well-versed with the money market rates, with zero flaws in the money market accounts.
The personal banker is cognizant of the loan and mortgage options available at the lowest cost, and have full information on current market trends. He has deep knowledge of the various services offered by the bank, so that the client easily fetches solutions and answers for irrelevant charges and inexplicable faults that he experiences, time and again.
With proficiency in areas of a teller, a safe deposit, vault, processing lines of credit, discoursing credit applications, the resume of personal bankers is incomplete without mentioning effective leadership, training and support. They train newbies in account representation along with other members of the branch, to build up a team of skilled bankers.
All in all, here is a list of duties that make up for an all-inclusive job description of people in this field. Bank of America considers these duties a must-have for every applicant who dreams of a successful banking career. Take a look:
- Primary and secondary responsibilities
- Supervisory duties
- Responding to customer needs and concerns
- Quoting rates and programs for loan customer requests
- Performing occasional sales reporting
- Opening deposit accounts
- Taking loan applications
- Environmental and physical activities
- Supporting fellow associates
The banking industry is prone to deregulation more than any other economic sector. Hence, this allows banks to incorporate as many financial and insurance services to their clients. The cut-throat competition between banks spurs demand for financial analysts and personal bankers, offering a number of career opportunities to banking aspirants.
For these banking professionals, the list of career prospects involves various opportunities right from the birth of an individual, up till their retirement. The more skilled a personal banker is, the more banking job opportunities he creates for himself.
In order to qualify as a personal banker, a banking aspirant need not require a proper college degree. Instead, one just needs to have a high school diploma, along with prior experience in customer service and sales, so that it is easy for him to deal with a variety of clients.
However, many banks do require training in federal banking regulations, for the banking aspirant to have an idea of the kind of work he or she is going to deal with. Lastly, he should be well-versed with all the banking bits and nuances, with the ability to deal with multiple clients at the same time.
Their average salary ranges is USD 28,000 to USD 48,000 annually, to start with. It also depends on the city, and the bank one is working in. California and New Jersey pay around USD 46,800 to personal bankers, whereas, Texas and Ohio pay around USD 38,100. As for now, job prospects are good for aspirants.
For all individuals interested in the field of personal banking, the information presented here must have given a nudge in the direction of banking. At last, it's totally your call to make the most of the never-ending career opportunities that the world of banking has to put forth.