Business banking job description and profile

The banking need and requirements of a businessperson are different from that of a normal consumer. Therefore, in contrast to retail banking, commercial or business banking is offered to meet the needs of businesspersons. Business banking job involves handling various business related banking issues including partnerships, loans and investment accounts. The job of a business banker is to acquire customers and ensure the smooth functioning of their accounts. They usually handle business accounts.

Business banking duties and responsibilities

The duties and responsibilities of a business banking job are:

  • Surveying the market and acquiring customers, both small and large businesses, for the benefit of the bank
  • Setting up required accounts for businesses
  • Preparing all the paperwork required for processing of loans that businesses require
  • Communicating with customers regarding different kinds of loan offers and procedures
  • Support customers by providing efficient customer service
  • Studying investment plans of customers before finding them eligible for loans
  • Keep in touch with customers with regular updates
  • Prepare banking details regarding installments and make sure that customers are prompt in their payment by sending reminders
  • Preparing separate accounts for customers and keep their regularly updates
  • Ensure safety of banking transactions and safeguard the personal details of customers and the bank

Business banking skills and specifications

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

  • Excellent communication and negotiation skills and ability to maintain interpersonal relationships
  • Excellent knowledge about accounting and business banking procedures
  • A thorough knowledge regarding banking rules of the state
  • High precision and accuracy in work
  • Must be organized, responsible and must maintain confidentiality about customer details
  • High level of analytical ability

Business banking education and qualification

The education and qualification of a business banker are:

  • Bachelor’s degree in business management, account and finance or commerce
  • Master’s degree in the same subjects is desirable

Business banking salary

The salary of a business banker ranges between $60,000 and $100,000 per annum, with the median being $89,000.

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