Banker : Job description

A banker helps individuals or businesses raise funds to purchase things (such as new machinery or homes), assist in the movement of money via payment mechanisms, and to provide ways to invest excess funds, such as savings accounts and bonds.

Retail bankers serve individuals, often from high street branches, but increasingly via telephone and online services. This also includes building society staff. Private banking is a subset of retail banking: these bankers serve high net worth individuals, often defined as those with more than £1million to invest.

Commercial bankers serve small and medium-sized businesses, often working closely with them to understand their options and develop their business plans, in order to start or grow their operations.

Typical work activities

Retail and commercial bank branch management is similar to other management opportunities, in that the managers are responsible for:

• managing, recruiting, and coaching teams of people;
• dealing with customer complaints that can’t be solved by the front line staff;
• implementing the new products, services and processes devised by head office;
• representing the bank within the wider community;
• opening and closing the branch daily and ensuring that the premises are fit for business;
• meeting their sales targets.

Responsibilities for more junior bankers may include:

• dealing with customers queries face to face, over the telephone or in writing;
• serving customers at the counter;
• understanding customer needs, recommending suitable products and making sales;
• processing paperwork from sales, change of customer details, closure of accounts and so on;
• learning about new products, services and processes.