New accounts representative vs new accounts specialist

The differences between new accounts representatives and new accounts specialists can be seen in a few details. Each job has different responsibilities and duties. It typically takes 6-12 months to become both a new accounts representative and a new accounts specialist. Additionally, a new accounts representative has an average salary of $36,918, which is higher than the $35,186 average annual salary of a new accounts specialist.

The top three skills for a new accounts representative include customer service, bank products and cross-sell. The most important skills for a new accounts specialist are customer service, customer satisfaction, and real estate.

New accounts representative vs new accounts specialist overview

	New Accounts Representative	New Accounts Specialist
Yearly salary	$36,918	$35,186
Hourly rate	$17.75	$16.92
Growth rate	-3%	-3%
Number of jobs	133,070	42,651
Job satisfaction	-	-
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 56%
Average age	41	41
Years of experience	12	12

What does a new accounts representative do?

New accounts representatives are banking professionals who are responsible for the explanation of the available accounts. The accounts representatives explain different options for new accounts and interconnected services. They discuss any requirements, fees, or limits related to an account. It is their job to describe new account services to clients and assist them in the paperwork. They perform wire or electronic transfers for the funds coming from the other accounts. Also, they direct their clients to banking specialists for additional services.

What does a new accounts specialist do?

A new accounts specialist is in charge of understanding the needs and providing services to new clients, ensuring efficiency and client satisfaction. They are responsible for conducting market research and analysis to find new opportunities, gathering and analyzing data to assess procedures and optimize operations, preparing and processing client reports, answering inquiries, and resolving issues and concerns promptly and efficiently. Moreover, a new accounts specialist must maintain an active communication line with clients to provide them with optimal services, building positive relationships along the way.

New accounts representative vs new accounts specialist salary

New accounts representatives and new accounts specialists have different pay scales, as shown below.

	New Accounts Representative	New Accounts Specialist
Average salary	$36,918	$35,186
Salary range	Between $28,000 And $47,000	Between $25,000 And $47,000
Highest paying City	San Mateo, CA	-
Highest paying state	Hawaii	-
Best paying company	DATCU	-
Best paying industry	Finance	-

Differences between new accounts representative and new accounts specialist education

There are a few differences between a new accounts representative and a new accounts specialist in terms of educational background:

	New Accounts Representative	New Accounts Specialist
Most common degree	Bachelor's Degree, 51%	Bachelor's Degree, 56%
Most common major	Business	Business
Most common college	-	-

New accounts representative vs new accounts specialist demographics

Here are the differences between new accounts representatives' and new accounts specialists' demographics:

	New Accounts Representative	New Accounts Specialist
Average age	41	41
Gender ratio	Male, 26.6% Female, 73.4%	Male, 34.8% Female, 65.2%
Race ratio	Black or African American, 9.5% Unknown, 2.9% Hispanic or Latino, 22.0% Asian, 9.1% White, 55.7% American Indian and Alaska Native, 0.8%	Black or African American, 9.9% Unknown, 2.9% Hispanic or Latino, 21.8% Asian, 9.3% White, 55.4% American Indian and Alaska Native, 0.8%
LGBT Percentage	11%	11%

Differences between new accounts representative and new accounts specialist duties and responsibilities

New accounts representative example responsibilities.

Gain excellent customer service skills and achieve award for completing voluntary MSR exams.1
Report tax information to the IRS.
Complete require BSA & OFAC training annually.
Identify potential high risks clients and investigate OFAC status.
Ensure adherence to IIROC, QI, AML, regulations and to mitigate legal and reputational risk.
Answer incoming calls on first ring; assist customers, complete customer request forms in AS400 system.

New accounts specialist example responsibilities.

Manage a Salesforce database comprise of customer information, leads and potential sales opportunities.
Order ATM and debit cards, assist consumers with on-line banking program and update rate information on bank website.
Assist in daily oversight for central branch vault, teller drawer, and ATM.
Process distributions including checks, account transfers, fed fund wires, ACH and journal requests within require SLA.
Review daily ACH transactions report for accuracy and document transaction errors.
Perform office cost analyses with surgical patients base on individual insurance for schedule procedure in accordance with government policies and guidelines.

New accounts representative vs new accounts specialist skills

Common new accounts representative skills

Customer Service, 15%
Bank Products, 8%
Cross-Sell, 6%
Financial Services, 6%
Credit Card, 5%
Loan Payments, 5%

Common new accounts specialist skills

Customer Service, 26%
Customer Satisfaction, 8%
Real Estate, 8%
Outbound Calls, 6%
Account Maintenance, 6%
Credit Card Accounts, 5%

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Office and Administrative Industry
New Accounts Representative
New Accounts Representative vs New Accounts Specialist

Updated January 8, 2025

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