What does a finance service representative do?
A financial service representative typically works for a bank or a similar establishment. One of their primary responsibilities is to reach out to clients and offer financial advice, services, or products such as insurance and credit cards. They can also set appointments, meet with clients to discuss benefits, and even gather applications. Furthermore, a financial service representative needs to have extensive knowledge of the products and services and be equipped with communication skills to build a rapport that will be essential in securing trust and sales.
Finance service representative responsibilities
Here are examples of responsibilities from real finance service representative resumes:
- Manage correspondent services including but not limit to wire processing, coin and currency, ACH support and international payments.
- Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
- Manage client relationship by presenting solutions for customers state and unstate needs while cross-selling company products.
- Maintain cleanliness and presentation of member service area and marketing information.
- Originate and develop new business through effective profiling, relationship building, consultative customer service in a retail banking environment.
- Count upon for accuracy and math skills.
- Maintain FINRA licensing through completing CE requirements, including regulatory and firm elements.
- Enter daily expense reports as well as client interactions in CRM systems on the behalf of upper management.
- Open core retail deposit accounts - checking, savings, money market, educational, commercial, CDs.
- Train MSR staff about products and services, department's policies and procedures, and sales and service techniques.
- Specialize in a high service level providing account servicing for trusts, savings, checking, CD's, and IRAs.
- Develop automated referral tracking and CRM system.
- Generate new business through consumer profiling and needs analysis.
- Specialize in reviewing transaction disputes from origination to present date.
- Maintain cleanliness of the facility and consistently provide towels for members/customers.
Finance service representative skills and personality traits
We calculated that 15% of Finance Service Representatives are proficient in Financial Services, Patients, and Team-Oriented Environment. They’re also known for soft skills such as Analytical skills, Initiative, and Detail oriented.
We break down the percentage of Finance Service Representatives that have these skills listed on their resume here:
- Financial Services, 15%
Developed a comprehensive operational understanding of the financial services industry, in addition to keeping up-to-date with new products and services.
- Patients, 8%
Review information submitted, request additional information from patients when needed and process Financial Applications to be approved by supervisor.
- Team-Oriented Environment, 7%
Provided exceptional member services and demonstrated the ability to work in a team-oriented environment.
- Mutual Funds, 4%
Licensed bank/insurance representative responsible for selling/providing customers with options regarding insurance, stocks, mutual funds, and other investment/retirement plans.
- Financial Products, 4%
Positioned marketing of internal and external financial products in alignment with research on current market conditions and investment performance.
- Customer Service, 3%
Provided superior customer service and work quality while demonstrating attention to detail, flexibility, and innovation in resolving problems
Most finance service representatives use their skills in "financial services," "patients," and "team-oriented environment" to do their jobs. You can find more detail on essential finance service representative responsibilities here:
Analytical skills. To carry out their duties, the most important skill for a finance service representative to have is analytical skills. Their role and responsibilities require that "to judge the profitability of potential deals, securities, commodities, and financial services sales agents must have strong analytical skills." Finance service representatives often use analytical skills in their day-to-day job, as shown by this real resume: "negotiated payment arrangements for delinquent wireless customers updated customer records on multiple databases communicated with customers by telephone and email"
Initiative. Another soft skill that's essential for fulfilling finance service representative duties is initiative. The role rewards competence in this skill because "securities, commodities, and financial services sales agents must create their own client base by making “cold” sales calls to people to whom they have not been referred and to people not expecting the call." According to a finance service representative resume, here's how finance service representatives can utilize initiative in their job responsibilities: "performed outbound calls to help increase sales initiatives. "
Detail oriented. Another skill that relates to the job responsibilities of finance service representatives is detail oriented. This skill is critical to many everyday finance service representative duties, as "investment bankers must pay close attention to the details of initial public offerings and mergers and acquisitions because small changes can have large consequences." This example from a resume shows how this skill is used: "process all patient account correspondence using detailed activity codes and comments to ensure patient statement and daily report accuracy ! "
Math skills. A big part of what finance service representatives do relies on "math skills." You can see how essential it is to finance service representative responsibilities because "securities, commodities, and financial services sales agents need to be familiar with mathematical tools, including investment formulas." Here's an example of how this skill is used from a resume that represents typical finance service representative tasks: "verified calculations for correct data entry, mathematical accuracy, and proper coding. "
Customer-service skills. Another common skill required for finance service representative responsibilities is "customer-service skills." This skill comes up in the duties of finance service representatives all the time, as "securities, commodities, and financial services sales agents must be persuasive and make clients feel comfortable with the agent’s recommendations." An excerpt from a real finance service representative resume shows how this skill is central to what a finance service representative does: "receive checks for commercial accounts, post payments to bill and provide financial assistance to residential and commercial customers. "
The three companies that hire the most finance service representatives are:
- World Finance175 finance service representatives jobs
- MCI World97 finance service representatives jobs
- Banner Health81 finance service representatives jobs
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Compare different finance service representatives
Finance service representative vs. Personal banker
A personal banker is responsible for managing the customers' financial records and assisting them in various banking transactions. Personal bankers' duties also include handling customers' inquiries for financial plans, understanding the banking and financial industry principles, processing applications, verifying account details, and offering bank products based on the customers' needs. A personal banker must have excellent customer service and communication skills, providing the best options for the customers, and helping them achieve their financial goals.
These skill sets are where the common ground ends though. The responsibilities of a finance service representative are more likely to require skills like "patients," "team-oriented environment," "mutual funds," and "fsr." On the other hand, a job as a personal banker requires skills like "customer satisfaction," "nmls," "good judgment," and "math." As you can see, what employees do in each career varies considerably.
Personal bankers tend to make the most money working in the finance industry, where they earn an average salary of $37,146. In contrast, finance service representatives make the biggest average salary, $40,163, in the government industry.personal bankers tend to reach similar levels of education than finance service representatives. In fact, personal bankers are 0.1% more likely to graduate with a Master's Degree and 0.1% less likely to have a Doctoral Degree.Finance service representative vs. Banker
A banker is primarily responsible for assisting clients with their banking needs, particularly when withdrawing, depositing, and paying. Aside from handling transactions, bankers are also mainly responsible for opening and closing accounts, processing requirements, verifying the validity of documentation, recommending services and other financial options to clients, and resolving inquiries and concerns. A banker may answer calls and correspondence, coordinate with other banking personnel, maintain accurate data, and discuss conditions to clients thoroughly. Furthermore, because a banker mainly works with clients, it is essential to attain customer satisfaction.
Each career also uses different skills, according to real finance service representative resumes. While finance service representative responsibilities can utilize skills like "patients," "team-oriented environment," "mutual funds," and "fsr," bankers use skills like "taking care," "securities," "nmls," and "upselling."
Bankers may earn a higher salary than finance service representatives, but bankers earn the most pay in the finance industry with an average salary of $55,656. On the other hand, finance service representatives receive higher pay in the government industry, where they earn an average salary of $40,163.In general, bankers achieve similar levels of education than finance service representatives. They're 1.2% more likely to obtain a Master's Degree while being 0.1% more likely to earn a Doctoral Degree.Finance service representative vs. Bank specialist
A bank or banking specialist is an individual responsible for maintaining effective business relationships with the bank's clients while ensuring an optimal customer service level. To support customer retention, bank specialists must identify their customers' banking needs and suggest appropriate bank products and services. They perform teller functions such as processing customer deposits, cashing checks, and issuing official checks. Bank specialists must also ensure that the bank complies with government regulations and standards.
The required skills of the two careers differ considerably. For example, finance service representatives are more likely to have skills like "patients," "team-oriented environment," "mutual funds," and "fsr." But a bank specialist is more likely to have skills like "strong customer service," "treasury," "quality customer service," and "basic math."
Bank specialists earn the highest salary when working in the finance industry, where they receive an average salary of $40,734. Comparatively, finance service representatives have the highest earning potential in the government industry, with an average salary of $40,163.bank specialists typically earn similar educational levels compared to finance service representatives. Specifically, they're 0.7% more likely to graduate with a Master's Degree, and 0.0% more likely to earn a Doctoral Degree.Finance service representative vs. Service officer
A service officer or client services officer is an individual who is a part of a financial management team that delivers services to customers. Service officers provide client support services by maintaining a high level of professionalism and competence in client interactions. They analyze and resolve customer service issues but inform management when they are faced with complex issues to discuss resolutions. Service officers are also required to attend educational training and workshops for their personal growth.
Types of finance service representative
Updated January 8, 2025
