Financial Services

Job description

A banker is responsible for establishing and maintaining positive customer relationships, planning and delivering effective sales strategies and monitoring the progress of new and existing financial products. Bankers may work as managers in high street branches, providing operational support on a day-to-day basis, or in more specialized posts in corporate or commercial departments at area, regional or head offices.

Banks operate in a fiercely competitive marketplace where change is common. Products and services must develop to satisfy the expectations and demands of customers. Working with staff and customers to achieve targets has become a major part of the role.

What kind of work can I do?

• Retail banking - covers the financial services provided by the high-street banks for individual customers and small businesses through their branch network.
• Investment banking - covers the provision of specialized financial services and advice to industrial, commercial and government clients.
• Private banking - specialist banks offering services to high net-worth individuals (the wealthy). The range of financial services offered is wide and can be tailored to the needs of the customer, e.g, asset management, estate planning.
• Mergers and acquisitions - buying, selling or combining different companies.
• Actuarial - concerned with long-term financial planning in areas such as insurance and pensions.
• Property insurance: concerned with providing protection to most risks to property such as fire, theft and some weather damage.  
• Life assurance: concerned with insurances paid to named beneficiaries when the insured person for exemple dies
• Insurance broking - analyzing client needs and negotiating the best deal with insurance companies.
• Reinsurance - insurers spreading their risk by taking on their own insurance against their claims.
• Underwriting - analyzing risks and setting premiums.

Typical work activities

Responsibilities and work activities may vary between retail and corporate and commercial banking. Most retail bankers work in high street branches, dealing with both private and corporate customers, while some work in regional or head offices. Bankers who work with commercial or corporate customers may be based in branches or may work from specialised area or regional offices.Bankers with area and regional responsibilities adopt a strategic role and, while retaining overall accountability for service and product delivery, often delegate supervision of day-to-day operations to staff in branch outlets.

Responsibilities for both retail and corporate and commercial bankers may include:

• implementing the delivery of sales strategies and targets and motivating employees to meet and surpass these;
• establishing and maintaining effective relationships with new and existing customers, establishing their needs and advising on the suitability of services;
• visiting business customers and attending meetings and conferences with them and other professionals;
• managing and supporting staff and facilitating appropriate continuing professional development (CPD);
• communicating, implementing and monitoring compliance with corporate standards and procedures;
• processing data to produce accurate facts, figures and reports;
• evaluating new and renewal lending proposals, negotiating terms with customers and, where appropriate, submitting proposals to the credit department for approval;
• checking accounts and initiating action if they are overdrawn without arrangement or are in excess of agreed arrangements;
• assuming overall accountability for products and services, such as
• consumer lending, current account transactions, unsecured loans, overdrafts, credit cards and personal loans;
• networking with appropriate professionals;
• representing the bank within the wider community

Average starting salary?

3459€/month

Included with the permission of AGCAS and Graduate Prospects. For permission to reproduce, contact copyright@agcas.org.uk.

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