Retail Banking Job Description

October 12, 20110 Comments

Retail banking job profile and description

The Retail banking is something in which people can serve at many posts such as retail bank manager, loans manager, accountant, and cashier and many more. A retail banker has to do the banking functions such as helping customers in various kinds of accounts, lending, credit cards and other such functions. The job also includes helping consumers create accounts and answer any queries that they might have. In addition, they also take care of internal bank functions.

Retail banking duties and responsibilities

There are a wide range of duties and responsibilities which a retail banker has to fulfill as the job is very vase and here are some common duties to be fulfilled:

  • The primary duty is to help the customers so aware them about the kinds of accounts available in the bank by interacting with them.
  • He or she has to help them selecting the most suitable account for their needs and help them with the formalities
  • He or she has to aware the customers about all the facilities available and as well as information regarding it.
  • It will be the duty to document all the transactions and process the paper work regarding loans of the bank properly and update them regularly.
  • He or she has to be update about all the changes in law regarding loan procedures and other related retail banking works
  • It will be also the duty to let the customers know about the new offers and regulations

Retail banking skills and specifications

The skills and specifications needed in a candidate to do the job of a retail banker are as follows:

  • The candidate needs to have exceptional communication skills both verbally and written and should be a good communicator.
  • He or she should have a thorough and deep understanding about banking and accounting principles and the sector as well.
  • He or she should be highly precise about the work regarding maintenance of books and records
  • He or she needs to have excellent troubleshooting abilities even in the stressful environment.
  • The other skills required in the candidate are excellent interpersonal skills with the mathematical, observational and analytical abilities.

Retail banking education and qualification

The education and qualification required for a retail banking job are:

  • The basic degree required for the job is that the candidate should have a  bachelor’s degree in finance and accounting or business administration and management

Retail banking salary

The salary of a retail banking job basically depends up on position in the bank and the place of employment.

  • The salary ranges between $10,000 and $50,000 per annum.
  • Managers and senior executives earn higher salaries.

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