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Personal banker jobs involve overseeing clients’ accounts and can range bank tellers to loan officers and those who work with specific high-end clients. The general duties of personal banker jobs are assisting clients in opening new accounts and selecting the best investment or savings options while minimizing risks. Requirements can include a broad understanding of a bank’s various services, the stock market and the banking industry overall.
Often, people who hold personal banker jobs are professionals who help very wealthy clients manage their money. Personal bankers who cater to high-end clients offer expert advice in making investments that produce maximum returns with minimal risks. A professional demeanor and appearance when dealing with clients is necessary to project the confidence needed to gain clients’ trust in handling their finances. Handling financial information with confidentiality and accuracy are also essential duties of this job.
Communicating with clients is another essential duty of personal bankers who have clients with high levels of net worth. Regular updates on account information is provided via email, telephone or in person. Phone calls and meetings are scheduled at the convenience of the client and can even take place on weekends and evenings. All of this requires the personal banker to keep up to date on his or her clients’ accounts and to be able to answer any questions about transactions or account balances, for example.
Large banking institutions will often assign new clients to personal bankers. After being assigned a client, the personal banker will explain the various accounts offered by the bank. In addition to opening accounts, personal bankers are responsible for explaining and guiding a client in how to close an account. Any penalties or consequences for closing an account also must be explained.
Some personal bankers work for themselves. The duties for these kinds of personal banker jobs are essentially the same as working for a financial institution. A self-employed personal banker, however, must find his or her own clients.
A personal banker working with assigned clients usually needs at least a bachelor’s degree in finance or a related area. These degree programs require an aptitude for mathematics, especially accounting, economics and statistics. Some personal bankers who wish to advance their career might also have a Master’s in Business Administration (MBA) degree. Licensing might be required for some personal banker jobs.
The availability of personal banker jobs depends on market demands, education and whether a candidate has a track record of success in the field. Bank tellers usually can get hired with a high school diploma and some customer service experience. For loan officers at large institutions, a bachelor’s degree usually is required, along with some experience in sales or banking.