Banking Retail Manager Job Description

January 25, 2013 | By More

Banking Retail Manager Job Profile and Description

A banking retail manager is responsible for providing customer service in a professional and friendly manner. This could involve speaking to customers, understanding their financial needs and then directing them to the necessary person to help them meet their needs. In addition, the manager could also have sales responsibilities, wherein he is responsible for offering financial services and products to customers and convincing them that they need these services and products. A banking retail manager also needs to know the state and federal laws, so that he works within the framework of these laws.

Banking Retail Manager Duties and Responsibilities

Here are some of the duties and responsibilities that a banking retail manager has to carry out on a day-to-day basis:

  • The person should know financial products and services thoroughly
  • Convince retail customers to buy the financial products and services offered by the bank
  • Understand the financial goals of the retail customers and suggest a product or service accordingly
  • Recognize sales opportunities and take proactive steps to close sales
  • Improve the profitability of the bank while serving customers to fulfill their needs and requirements
  • Process paperwork
  • Document all kinds of transactions that occur on a daily basis

Banking Retail Manager Skills and Specifications

A banking retail manager requires certain skills in order to be successful at their work. Some of those skills include the following:

  • Have excellent communication and interpersonal skills
  • Be proactive
  • Have a friendly demeanor
  • Have great problem solving skills
  • Possess good analytical skills
  • Be astute to recognize sales opportunities
  • Be familiar with different sales techniques
  • Have in-depth understanding of finance and math
  • Have the ability to convince retail customers
  • Have thorough understanding of banking laws, both at state and federal level
  • The person should have good troubleshooting skills

Banking Retail Manager Education and Qualifications

To work as banking retail manager, a person would require the following qualifications:

  • A Bachelor’s degree in finance, accounting or economics
  • An MBA in finance is an advantage
  • Opt for development programs to know the regulation changes made in the retail banking sector

Banking Retail Manager Salary

A banking retail manager’s salary is about $55,000 per year. However, many banking institutions offer performance-based bonuses that make the salary a lot higher. Some of the larger banking institutions also offer banking retail managers equity sharing.

Category: Banking Job Descriptions

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