Retail Banking Job Description

By | July 28, 2011

Retail banking job profile and description

Retail bankers are involved in banking functions in consumer banks, which are banks that deal with various kinds of accounts, lending, credit cards and other such functions. The job of a retail banker is to help consumers create accounts and answer any queries that they might have. In addition, they also take care of internal bank functions. There are different kinds of jobs within the retail banking sector such as retail bank manager, loans manager, accountant and cashier, to name a few.

Retail banking duties and responsibilities

The duties and responsibilities of a retail banking job are:

  • Communicating with customers are making them aware about the different kinds of accounts available in the bank
  • Helping them choose the most suitable account for their needs and helping them with the formalities
  • Documenting all transactions that take place in the bank
  • Telling customers about different loan facilities available and different all information regarding it
  • Keeping up to date with the changes in law regarding loan procedures and other related retail banking works
  • Preparing and processing papers regarding loans and accounts
  • Keeping in touch with customers and updating them about new offers and regulations

Retail banking skills and specifications

The skills and specifications required for a retail banking job are:

  • Excellent communication skills
  • A thorough understanding about banking and accounting principles
  • Precision in work regarding maintenance of books and records
  • Excellent troubleshooting abilities
  • Good interpersonal skills
  • Good mathematical, observational and analytical skills

Retail banking education and qualification

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

  • A bachelor’s degree in finance and accounting or business administration and management

Retail banking salary

The salary of a retail banking job depends on his or her 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.