Have you always wanted to know what it’s like to be a senior personal banker?
Personal banking means assisting customers with their banking transactions in person, whether at the bank branch or the customer’s home.
Senior personal bankers take on more responsibilities than tellers and junior personal bankers, so they often earn higher salaries and have more authority within the organization.
Here are some of the duties, skills, and salary information you need to know about this line of work.
Let’s dive right in.
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What Does a Senior Personal Banker Do?
A senior personal banker manages a team of personal bankers who provide financial services to clients.
The senior personal banker’s job is to ensure that the team provides excellent customer service and meets all sales goals.
They also lead their team in maximizing revenue by handling difficult client situations and coaching new personal bankers on how to handle demanding customers.
Additionally, they are responsible for overseeing any legal issues with the bank.
Overall, a senior personal banker is responsible for leading their team in providing excellent customer service by meeting all company sales goals and ensuring no legal issues within the company.
Senior Personal Banker Job Requirements
Educational Requirements
A bachelor’s degree in finance or a related field. Additional qualifications might include Accounting Certification, CPA Certification, Chartered Financial Analyst (CFA) Designation, and American Institute of Banking Certificate.
Higher level responsibilities may be expected with additional experience, including understanding complex financial products such as derivatives and hedging strategies.
There is also the potential for advancement to senior-level positions with broad responsibility for overseeing the activities of more junior personal bankers.
Certifications & Licenses
The Certified Public Accountant (CPA) designation is often required by employers who expect their employees to prepare tax returns, but other credentials are sometimes necessary depending on the employer.
The Certified Financial Planner Board of Standards’ Certified Financial Planner (CFP) designation proves competence in planning, investing, protection and retirement needs.
Other applicable designations are Registered Investment Advisor or Chartered Life Underwriter.
Senior Personal Banker Skills
As a senior personal banker, you must equip yourself with the following skills.
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Problem-Solving Skills
A successful senior personal banker has many different challenges that they need to tackle daily.
They will have clients coming in asking for loans, looking for credit cards, or even taking out mortgages.
A good problem solver will be able to assess the kind of assistance the client needs to make them feel confident about their finances.
Communication Skills
Communication skills are essential when dealing with people from all walks of life who come into the bank seeking help.
The ability to communicate clearly and effectively will lead clients to feel heard and valued.
Leadership Skills
Leading others can be challenging, but if you have strong leadership qualities, you’ll be able to provide solutions for your team members and uphold company policies set by management.
Strong leadership qualities are essential for any person at any level of an organization.
Teamwork
To get ahead, a senior personal banker must be willing to work with others.
You may not always agree with what others say or do, but this doesn’t mean you should stop working together.
You never know where someone else’s ideas might take you.
Decision-Making Skills
At the end of the day, many decisions fall onto one individual’s shoulders.
It is up to the senior personal banker to make these decisions, so they should always keep track of all relevant information before making their final call.
Listening Skills
When dealing with clients, those listening must understand precisely what they’re being told.
Good listening skills will go a long way when working on solving problems.
Senior Personal Banker Salary & Outlook
A senior personal banker’s salary varies depending on their position.
For example, the average salary for an entry-level or junior personal banker is $55,000 per year.
The average salary for a senior personal banker is $86,000 per year.
The average salary for an executive level or regional bank president is $165,000 per year.
According to the Bureau of Labor Statistics, the employment rate is projected to decline by 8% from 2016 to 2026.
Over those ten years, we expect around 23,700 jobs will be lost due to this decline in employment rates.
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Conclusion
A senior personal banker is responsible for providing clients with customer service and sales support.
They build relationships with clients, offer financial planning advice, and help clients reach their financial goals.
