Retail banker: Job description

A retail banker works in banks and building societies that can be found on the high street, although there are now increasing opportunities to work for online banks and supermarkets which offer a banking service.

A retail banker helps with the financial requirements of individuals and businesses and provides advice and financial services. This can include authorising loans and overdraft facilities, setting up saving accounts and bonds, and assisting in the movement of money via payment mechanisms.

Private banking is a sub-section of retail banking which typically deals with high net-worth individuals, often defined as those with more than £1million to invest. 

A manager of a retail bank will need to increase sales of financial products and services, attract new customers and manage a team of staff.

Typical work activities

Retail 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 and building relevant contacts;
• opening and closing the branch daily and ensuring that the premises are fit for business;
• meeting sales targets and managing budgets.

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.