What does a relationship manager do?
A relationship manager is responsible for maintaining a positive and professional relationship with customers and business partners, ensuring the highest customer satisfaction and good reputation. Relationship managers advise management on identifying business opportunities by analyzing the current market trends that would help generate revenues and increase its profitability. They connect with the marketing and sales team for product and services innovation, create compelling sales pitches, and develop customer service processes to assist customers with their inquiries and concerns efficiently.
Relationship manager responsibilities
Here are examples of responsibilities from real relationship manager resumes:
- Manage both general and bankruptcy FHLMC loans.
- Demonstrate ability to manage a portfolio with a concentration in loan modifications for HAMP and FNMA.
- Lead the district in sales by initiating and document a proactive customer profiling effort and sale calls.
- Oversee and manages all incoming and outgoing automate clearing house (ACH) transfer of electronic fund.
- Process annuities, insurance policies, office bills, manage correspondence, and maintain require files and accounts.
- Manage the west coast territory to research and analyze which healthcare facilities would benefit from the services offer.
- Hold regular training sessions on BSA, AML, and internal controls.
- Assist in the process of writing professional CVs, LinkedIn profiles, and Facebook profiles for adjunct professors.
- Combine sales outreach efforts with target business partners to suggest investment solutions, cash management and/or treasury strategy.
- Market payroll solutions to small businesses.
- Master skills using the intricate AS400 logistics software program.
- Work with BSA officer regarding reporting or not reporting a SAR.
- Work day to day BSA reports and look for inconsistencies and fraud.
- Engage in various employer workplace trainings and seminars around financing and budgeting.
- Conduct clients needs assessments through profiling and coordinating with fiduciary and planning specialists.
Relationship manager skills and personality traits
We calculated that 11% of Relationship Managers are proficient in Client Relationships, Work Ethic, and Strong Work Ethic. They’re also known for soft skills such as Customer-service skills, Analytical skills, and Leadership skills.
We break down the percentage of Relationship Managers that have these skills listed on their resume here:
- Client Relationships, 11%
Analyzed personal and financial data to deepen current profitable client relationships while providing financial advice and counseling to all bank customers.
- Work Ethic, 10%
Worked one on one with team members to improve credit analysis skills and develop a solid work ethic.
- Strong Work Ethic, 10%
Recognized by executive management for strong work ethic, networking, relationship building, and leadership competencies.
- Financial Services, 9%
Provided financial services for individuals and small businesses by conducting extensive profiling and needs assessment analysis.
- Taking Care, 5%
Act as a liaison between manufacturing and customers, taking care of any issues and responding to their product demands/fluctuations.
- Customer Service, 5%
Worked across several business tiers and divisions, simultaneously, while continuing to deliver high quality internal and external customer service.
Common skills that a relationship manager uses to do their job include "client relationships," "work ethic," and "strong work ethic." You can find details on the most important relationship manager responsibilities below.
Customer-service skills. To carry out their duties, the most important skill for a relationship manager to have is customer-service skills. Their role and responsibilities require that "when helping to make a sale, sales managers must listen and respond to the customer’s needs." Relationship managers often use customer-service skills in their day-to-day job, as shown by this real resume: "perform credit analysis to enhance customer credit portfolios. "
Analytical skills. Another essential skill to perform relationship manager duties is analytical skills. Relationship managers responsibilities require that "sales managers must collect and interpret complex data to target the most promising geographic areas and demographic groups, and determine the most effective sales strategies." Relationship managers also use analytical skills in their role according to a real resume snippet: "review maturing business lines of credit, conduct credit analysis and write credit memorandum with recommendations for renewals. "
Leadership skills. This is an important skill for relationship managers to perform their duties. For an example of how relationship manager responsibilities depend on this skill, consider that "sales managers must be able to evaluate how their sales staff performs and must develop strategies for meeting sales goals." This excerpt from a resume also shows how vital it is to everyday roles and responsibilities of a relationship manager: "consulted with business and hr leaders on leadership and development priorities. ".
Communication skills. For certain relationship manager responsibilities to be completed, the job requires competence in "communication skills." The day-to-day duties of a relationship manager rely on this skill, as "sales managers need to work with colleagues and customers, so they must be able to communicate clearly." For example, this snippet was taken directly from a resume about how this skill applies to what relationship managers do: "selected to serve on the internal communications committee to guide the use of crm software. "
The three companies that hire the most relationship managers are:
- Bank of America464 relationship managers jobs
- Deloitte422 relationship managers jobs
- Citi287 relationship managers jobs
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Compare different relationship managers
Relationship manager vs. Account manager
Account managers are employees who act as the bridge between the company they represent and the client of the company. They are assigned to handle specific clients so that the company will be able to tailor-fit any product or service according to the clients' requirements. Account managers are responsible for maintaining a harmonious relationship between the two parties by ensuring that any agreement made is amenable to both the company and the client. They are also responsible for ensuring that the company will be able to provide the needs of the client within any limitation that the client may have. Account managers also ensure that the company's reputation and well-being are always considered in any dealings.
There are some key differences in the responsibilities of each position. For example, relationship manager responsibilities require skills like "client relationships," "strong work ethic," "financial services," and "taking care." Meanwhile a typical account manager has skills in areas such as "account management," "healthcare," "product knowledge," and "powerpoint." This difference in skills reveals the differences in what each career does.
Account managers really shine in the technology industry with an average salary of $76,412. Comparatively, relationship managers tend to make the most money in the finance industry with an average salary of $91,602.The education levels that account managers earn slightly differ from relationship managers. In particular, account managers are 7.4% less likely to graduate with a Master's Degree than a relationship manager. Additionally, they're 0.1% less likely to earn a Doctoral Degree.Relationship manager vs. Manager
Managers are responsible for a specific department, function, or employee group. They oversee their assigned departments and all the employees under the department. Managers are responsible that the department they are handling is functioning well. They set the department goals and the steps they must take to achieve the goals. They are also in charge of assessing the performance of their departments and their employees. Additionally, managers are responsible for interviewing prospective candidates for department vacancies and assessing their fit to the needs of the department. Managers also set the general working environment in the department, and they are expected to ensure that their employees remain motivated.
In addition to the difference in salary, there are some other key differences worth noting. For example, relationship manager responsibilities are more likely to require skills like "client relationships," "work ethic," "strong work ethic," and "financial services." Meanwhile, a manager has duties that require skills in areas such as "food safety," "management," "powerpoint," and "pos." These differences highlight just how different the day-to-day in each role looks.
Managers may earn a lower salary than relationship managers, but managers earn the most pay in the finance industry with an average salary of $71,781. On the other hand, relationship managers receive higher pay in the finance industry, where they earn an average salary of $91,602.Average education levels between the two professions vary. Managers tend to reach lower levels of education than relationship managers. In fact, they're 6.8% less likely to graduate with a Master's Degree and 0.1% more likely to earn a Doctoral Degree.Relationship manager vs. Sales/field sales manager
Sales or Field Sales Managers oversee the group in charge of conducting sales activities outside of the office or company branches. They manage field sales employees by hiring and training them. They also set goals on a weekly or monthly basis. They provide strategic direction to ensure that these goals are met. They monitor the performance of the team and identify areas for improvement. They would then create programs to address these challenges. Field Sales Managers should be familiar with the company's target market. They should also be familiar with the scope of area operations. This would help them create strategies in the context of their target market. Field sales managers should have a strong sales background and a determined attitude.
The required skills of the two careers differ considerably. For example, relationship managers are more likely to have skills like "client relationships," "work ethic," "strong work ethic," and "financial services." But a sales/field sales manager is more likely to have skills like "lead generation," "sales training," "account management," and "sales strategies."
Sales/field sales managers earn the best pay in the professional industry, where they command an average salary of $80,605. Relationship managers earn the highest pay from the finance industry, with an average salary of $91,602.Most sales/field sales managers achieve a lower degree level compared to relationship managers. For example, they're 9.2% less likely to graduate with a Master's Degree, and 0.3% less likely to earn a Doctoral Degree.Relationship manager vs. Channel manager
A channel manager is responsible for supervising client relations within the assigned partner accounts. Channel managers handle the project management strategies to achieve clients' satisfaction by following their specifications and requirements. They manage marketing and promotional campaigns to improve brand awareness of the target market audience. A channel manager also oversees media relations techniques, as well as publishing digital content that would attract customers and generate more revenue resources for the business. A channel manager coordinates with channel partners for maintaining optimal performance and maximum productivity.
Types of relationship manager
Updated January 8, 2025
