What are the Different Private Banking Jobs?

Private banking is a service offered by many banking institutions to their high-profile members. Private banking simply means providing certain clients with greater amounts of personalized customer service in making deposits and withdraws, financial planning, investing and taxes. In order to attain the services of a personal banker, a member must have a large amount of assets with the bank, so most members never see these workers. Private banking jobs usually are at the executive level and encompass a wide swath of titles, from private banker to recruiter, venture capitalist, wealth control analyst and more. Each job has its own set of duties, but they share the goal of giving a bank's best customers a higher level of service.

Of all of the private banking jobs, the private banker is the most common duty. This person usually is assigned a number of clients, and they handle all of the day-to-day banking so that these preferred customers do not have to deal with bank teller windows and long waits. A private banker also helps organize meetings and consultation with other bank employees who specialize in real estate, financial planning and other areas. He or she also will have connections to trusted sources outside of the bank, such as attorneys and tax professionals, who can be recommended to customers. A private banker's ultimate job is to make the process of banking as convenient and helpful as possible for the customer.

A recruiter is one of the most important private banking jobs for any institution. This job adds an element of sales to the banking spectrum because the recruiter's job is to research and convince potential candidates to keep money with the bank and sell potential customers on the benefits of private banking. A recruiter must be an expert on all of the bank's services and must be able to communicate effectively with clients.

A private wealth control analyst is among one of the most specialized roles that are found in private banking jobs. He or she analyzes a customer's assets and makes recommendations about how money can be better invested. The analyst must closely monitor the market and understand a variety of investment opportunities.

Venture capitalist specialists also are a very specialized niche of private banking jobs. He or she makes connections with individuals offering business opportunities that need investors to get started. Venture capitalist specialists also must convince customers who are looking to invest that following his or her advice is a sound decision. The venture capital specialist also can negotiate terms of interest and stock options for the client.