Commercial bankers manage bank branches, approve or deny loans, acquire new customers, coordinate different departments, supervise employees, and assist with customer service. They need strong interpersonal skills, leadership abilities, and financial knowledge.
A career as a commercial banker is a good option for people with interpersonal skills and a knack for handling money. Most positions in this field involve managing a bank branch and leading staff. While the exact responsibilities of a commercial banker may differ depending on the bank, there are five common job tasks. This includes approving or denying loans, acquiring new customers, coordinating different banking departments, supervising team members, and assisting with customer service.
Approving or denying loans is often a primary duty of a commercial banker. When a candidate is seeking financial support for an investment such as a house or car, it is usually the commercial banker who oversees the process. This practice usually involves meeting with a candidate, reviewing an investment idea, and checking credit history. If the loan looks financially viable, he will usually approve it and fill out the necessary paperwork. Otherwise, the applicant’s loan will be rejected.
Another integral aspect of this position is consistently acquiring new customers for a bank branch. For a bank to thrive and remain competitive, it needs to establish a strong customer base. Consequently, a commercial banker is often responsible for finding profitable clients capable of accruing interest. To be effective in their job, it helps a business banker to have good communication skills and an approachable demeanor.
Coordinating different banking departments is also a duty that ensures a bank operates efficiently. For example, a commercial banker can act as a liaison between tellers, accountants, and customer service representatives. This can include holding one-on-one conversations or group meetings to discuss important issues. Playing this liaison role can establish open communication and help keep different departments on the same page.
A commercial banker usually also supervises a designated number of employees. It can monitor tellers to ensure financial transactions and customer service are handled correctly. In addition, he can check the accountants’ calculations for accuracy. Consequently, this position requires a person with strong leadership skills and the ability to oversee multiple areas of a bank.
An additional duty involves helping with customer service at certain times. This could include handling escalated customer complaints, training new employees, or answering complex questions that other employees are unable to handle. Also, if a bank had a very busy period, a commercial banker would help in various departments. To be effective in this area, he must be adaptable and able to improvise when necessary.
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