Business Banking Consultant Job Description

January 23, 2013 | By More

Business Banking Consultant Job Profile and Description

A business banking consultant is responsible for handling various aspects of business customers. The consultant is responsible for developing sales strategies to help increase the business customer’s market share, respond to queries relating deposit accounts, ATM and debit access devices and cash management. In addition, the consultant offers online banking support to business customers.

Furthermore, the business banking consultant is also responsible for acquiring new customers; monitor the practices of competitors and prepare a report on the same; have thorough knowledge on the different banking products and services offered to business customers; and help the customers meet their personal revenue goals by using and leveraging the bank’s products and services.

Business Banking Consultant Duties and Responsibilities

The following are some of the duties and responsibilities that a business banking consultant is expected to carry out:

  • The person should know the different financial products and services thoroughly
  • Find prospective customers and clients to sell the products/services
  • Should be able to work independent to manage deposits
  • Should be able to handle cash management efficiently
  • Network with business associations to get new business customers
  • Monitor competition carefully and prepare reports on their working and dealings
  • Convince business customers to use the bank’s financial products and services to meet their revenue goals

Business Banking Consultant Skills and Specifications

A business banking consultant requires certain skills in order to work efficiently and carry out his responsibilities efficiently and effectively. These skills include the following:

  • Have excellent communication and interpersonal skills
  • Have strong verbal and written communication skills
  • A background in business development can be extremely useful in carrying out the responsibilities
  • Have a professional manner when dealing with customers
  • Should have thorough understanding of finance
  • Should be able to partner as well as influence business customers
  • Have strong understanding of Windows-based programs, particular Excel, PowerPoint and Word
  • Have problem solving skills
  • Have experience in networking

Business Banking Consultant Education and Qualifications

To work as a business banking consultant, a person would require the following qualifications:

  • A Bachelor’s degree in finance, accounting or economics
  • An MBA in finance is preferable, though not necessary
  • A license from the Financial Industry Regulatory Authority, or FINRA, is necessary, as many banks and financial institutions require it. To get the license, the person should be working for minimum of 4 months with a bank and have passed the General Securities Registered Representative Examination, or the Series 7 exam.

Business Banking Consultant Salary

Most business banking consultants start at an entry-level salary, but have the potential of earning quite a bit in commissions when the business client uses the bank’s products and services or the consultant manages to bring in a new customer. The salary of a business banking consultant can range from $30,000 to about $150,000 a year.

Category: Banking Job Descriptions

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