What does a Relationship Banker do?
A relationship banker is responsible for providing financial advice by applying financial disciplines in the banking industry. Relationship bankers process financial transactions on their clients' bank accounts, generate account statements, and reiterate bank policies to support clients' financial goals and objectives. They also research the current financial industry, identify new bank services opportunities to gain more clients, and increase profits for the business. A relationship banker must have excellent communication and customer service skills, responding to the clients' inquiries and concerns regarding their bank accounts, and resolving complaints timely and efficiently.
Relationship banker responsibilities
Relationship bankers play a crucial role in maintaining and expanding customer relationships. They recommend solutions and refer business to additional financial services partners, including investments, mortgage, and business banking. They are expected to maintain bank security policies and procedures while having excellent interpersonal skills. Their responsibilities also include managing customer profiles, organizing daily appointments, and conducting lead-focused outbound calls. They ensure customer transactions are accurate and customers are aware of self-service banking options. According to a Bank of America expert, "relationship bankers are tasked with identifying, expanding, and deepening customer relationships through profiling and then recommending appropriate deposit and lending products and services."
Here are examples of responsibilities from real relationship banker resumes:
- Attain NMLS number and Texas notary.
- Perform teller duties, process daily reports, meet and exceed sales referral goals, manage ATM balancing and maintenance.
- Manage a comprehensive portfolio of diversify securities and real estate holdings.
- Cultivate new relationships through outside sales calls, effective profiling and telephone solicitation of company provide leads.
- Register with the NMLS and keep skills, knowledge, and accreditations up-to-date.
- Inform customers of procedures for applying for services such as ATM cards, direct deposit, and certificates of deposit.
- Handle document processing including loans, securities and applications.
- Interview loan applicants to elicit information, determine appropriate structure of loans, cross-sell opportunities, and communicate decisions or recommendations.
- Offer notary services to authenticate documents for members.
- Provide support and troubleshooting for online banking and commercial treasury management products.
- Supervise motivated and coach treasury management staff in all aspects of treasury management.
- Provide notary service upon request.
Relationship banker skills and personality traits
We calculated that 10% of Relationship Bankers are proficient in Excellent Interpersonal, Financial Services, and Work Ethic. They’re also known for soft skills such as Customer-service skills, Initiative, and Analytical skills.
We break down the percentage of Relationship Bankers that have these skills listed on their resume here:
- Excellent Interpersonal, 10%
Expected to maintain bank security policies/procedures and have excellent interpersonal skills.
- Financial Services, 9%
Recommend solutions and refer business to additional financial services partners including investments, mortgage and business banking.
- Work Ethic, 8%
Received Global recognition awards from Bank of America for my work ethic in contributing towards the financial center sales and operations.
- Cash Handling, 7%
Performed basic teller transactions in a timely and efficient manner while maintaining accurate records and following proper cash handling procedures.
- Taking Care, 6%
Provide Superior customer Service; Multi-Task in various areas of operations including taking care of transactions for consumer and merchant clients.
- Product Knowledge, 5%
Maintained product knowledge, industry standards/best practices and current consumer/business needs.
Common skills that a relationship banker uses to do their job include "excellent interpersonal," "financial services," and "work ethic." You can find details on the most important relationship banker responsibilities below.
Customer-service skills. The most essential soft skill for a relationship banker to carry out their responsibilities is customer-service skills. This skill is important for the role because "securities, commodities, and financial services sales agents must be persuasive and make clients feel comfortable with the agent’s recommendations." Additionally, a relationship banker resume shows how their duties depend on customer-service skills: "facilitate branch operational activities and financial services while liaising with customers regarding all new account openings and related transactions. "
Initiative. Another essential skill to perform relationship banker duties is initiative. Relationship bankers responsibilities require that "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." Relationship bankers also use initiative in their role according to a real resume snippet: "developed a large personal customer base through excellent sales initiatives, product knowledge, and superior customer service relations. "
Analytical skills. relationship bankers are also known for analytical skills, which are critical to their duties. You can see how this skill relates to relationship banker responsibilities, because "to judge the profitability of potential deals, securities, commodities, and financial services sales agents must have strong analytical skills." A relationship banker resume example shows how analytical skills is used in the workplace: "developed customer relationships to enhance customer experience through product knowledge, analysis of accounts, and referrals. "
Math skills. A big part of what relationship bankers do relies on "math skills." You can see how essential it is to relationship banker 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 relationship banker tasks: "required to know basic math skills as well as customer service. "
Detail oriented. Another crucial skill for a relationship banker to carry out their responsibilities is "detail oriented." A big part of what relationship bankers relies on this skill, since "investment bankers must pay close attention to the details of initial public offerings and mergers and acquisitions because small changes can have large consequences." How this skill relates to relationship banker duties can be seen in an example from a relationship banker resume snippet: "provide information/education to clients about the purpose and details of financial products, services and strategies. "
The three companies that hire the most relationship bankers are:
- Bank of America2,123 relationship bankers jobs
- JPMorgan Chase & Co.889 relationship bankers jobs
- Grandbridge Real Estate Capital570 relationship bankers jobs
Choose from 10+ customizable relationship banker resume templates
Build a professional relationship banker resume in minutes. Our AI resume writing assistant will guide you through every step of the process, and you can choose from 10+ resume templates to create your relationship banker resume.
Compare different relationship bankers
Relationship banker vs. Junior associate
A junior associate is responsible for assisting with the law firm's operations by evaluating cases, performing client counseling, and attending court trials. Junior associates draft agreements and review claims with strict adherence to regulatory policies and procedures. They also request additional documents as necessary and update the lawyers of any updates regarding the case. A junior associate must be well-versed with the law and determine resolution by following the due process and representing the clients during hearing sessions.
These skill sets are where the common ground ends though. The responsibilities of a relationship banker are more likely to require skills like "excellent interpersonal," "financial services," "strong work ethic," and "work ethic." On the other hand, a job as a junior associate requires skills like "powerpoint," "litigation," "financial statements," and "press releases." As you can see, what employees do in each career varies considerably.
Junior associates really shine in the finance industry with an average salary of $96,957. Comparatively, relationship bankers tend to make the most money in the finance industry with an average salary of $36,296.The education levels that junior associates earn slightly differ from relationship bankers. In particular, junior associates are 3.3% more likely to graduate with a Master's Degree than a relationship banker. Additionally, they're 9.9% more likely to earn a Doctoral Degree.Relationship banker vs. Branch account executive
Finance associates perform various financial tasks for a company. These include managing accounting records, preparing payroll documents as well as financial and budget reports, and handling payments. Additionally, finance associates help with tax preparation, audits and reviews, and help with developing and implementing procedures, best practices, and policies for financial and accounting operations. The skills and qualifications for this role may include a bachelor's degree in finance or accounting, excellent communication skills, and attention to detail.
In addition to the difference in salary, there are some other key differences worth noting. For example, relationship banker responsibilities are more likely to require skills like "excellent interpersonal," "financial services," "strong work ethic," and "work ethic." Meanwhile, a branch account executive has duties that require skills in areas such as "insurance products," "administrative tasks," "credit worthiness," and "real estate loans." These differences highlight just how different the day-to-day in each role looks.
In general, branch account executives achieve similar levels of education than relationship bankers. They're 1.7% less likely to obtain a Master's Degree while being 9.9% more likely to earn a Doctoral Degree.Relationship banker vs. Finance associate
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.
Some important key differences between the two careers include a few of the skills necessary to fulfill the responsibilities of each. Some examples from relationship banker resumes include skills like "excellent interpersonal," "strong work ethic," "cash handling," and "taking care," whereas a finance associate is more likely to list skills in "financial statements," "powerpoint," "financial models," and "strong analytical. "
Finance associates earn the best pay in the professional industry, where they command an average salary of $95,092. Relationship bankers earn the highest pay from the finance industry, with an average salary of $36,296.Most finance associates achieve a higher degree level compared to relationship bankers. For example, they're 5.7% more likely to graduate with a Master's Degree, and 2.0% more likely to earn a Doctoral Degree.Relationship banker vs. Finance service representative
Even though a few skill sets overlap between relationship bankers and finance service representatives, there are some differences that are important to note. For one, a relationship banker might have more use for skills like "excellent interpersonal," "strong work ethic," "taking care," and "process transactions." Meanwhile, some responsibilities of finance service representatives require skills like "patients," "team-oriented environment," "fsr," and "data entry. "
Finance service representatives enjoy the best pay in the government industry, with an average salary of $40,163. For comparison, relationship bankers earn the highest salary in the finance industry.The average resume of finance service representatives showed that they earn similar levels of education compared to relationship bankers. So much so that theyacirc;euro;trade;re 1.3% less likely to earn a Master's Degree and more likely to earn a Doctoral Degree by 0.1%.Types of relationship banker
Updated June 25, 2024
