Skill set required for the personal bankers:

The personal bankers need to possess excellent skill set to perform the various tasks skillfully.

The following is list of skill and abilities that are essential for a personal banker:

• The personal bankers need to possess outstanding communication skills (both written and verbal skills) as they had to communicate with clients, bank officers, and the other staff of the bank.
• They need to possess a strong command over finance and banking services as they work on these services in course of every operation of the clients.
• They should possess a excellent command over mathematics as they entirely deal with the banking issues which are based on accounts.
• The personal bankers have to possess good analytical skills as they have to analyze the customer’s requirements and process accordingly.
• They should be highly flexible to Microsoft Office tools as the latest banking trends do most of the activities in computers.
• The personal bankers must have excellent knowledge on computers as their works are mostly done using computers.
• They should also have good organizational skills as they are the people who have to organize various procedures in financial transactions of the clients.
• They should also possess outstanding decision making skills to assist the customers in managing their money.
• They should also have best interpersonal skills as they have to interact with various persons such as sales associates, tellers, branch managers, etc.
• They should have a deep knowledge of banking processes to perform his job efficiently.
• They should have the ability to maintain good customer relations in order to increase the number of clients to the bank and to promote its business.

Certification and Licensure of a personal banker:

• There are many certification programs available for the personal bankers which are provided by many professional and educational organizations.
• Most of the personal bankers need no licensure or certification to obtain.
• The loan officers and personal bankers who deal with real estate loans and mortgage loans should get federal licensure.
• The CPB (Certified Personal banker) certification is the most prestigious certification for the personal bankers.
• The personal banker with CPB certification will be attained a comprehensive training.
• They will be trained on various professional services such as financial analysis, banking operations, business competencies, sales & service, and ethics.
• The personal bankers had to complete a special coursework (duration of 20 hours) and should qualify a comprehensive banking test to obtain the license to deal mortgage loans.
• There are several associations like Mortgage Bankers Association (MBA), ABA etc to certify personal bankers as certified bankers and certified mortgage bankers.
• The personal bankers need to qualify finance and banking test, complete the course work on banking after obtaining the 3 years of banking experience in order to get certified as a certified mortgage banker.
• The ICB (Institute of Certified Bankers) provides certification for management of retail banking, commercial and mortgage lending, wealth management and risk management.

 Salary and Remuneration of a personal banker:

• The average salary of a personal banker is around $70,190 per annum.
• The top paid personal bankers will get the salary of $100,000 per annum.
• The salary of a personal banker varies with the factors such as experience, skill/specialties and the type of industry in which they are employed.
• The salary of a personal banker with the experience of less than one year will earn an income in the range $25,904- $39,689.
•  The salary of a personal banker with the experience of 1-4 years is in the range $26,642- $41,456.
• The salary of a personal banker with the experience of 5-9 years is in the range $29,588- $49,005.
• The salary of a personal banker with the experience of 10-19 years is in the range $30,239- $58,830.
• The salary of a personal banker with the experience of 10-19 years is in the range $30,239- $58,830.
• The salary of a personal banker with the experience of 10-19 years is in the range $30,239- $58,830.
• The salary of a personal banker with the experience of more than twenty years is in the range $33,678- $89,900.
• The personal bankers who are employed in financial services will get the salary in the range $28,498- $45,478.
• The personal bankers who are employed in banking sectors will get the salary in the range $27,789- $56,845.
• The personal bankers who are employed in investment banking will get the salary in the range $29,785- $67,452.
• The personal bankers who are employed in retail banking will get the salary in the range $ 27,456- $45,782.
• The personal bankers who are specialized in dealing consumer loans will get the salary in the range $26,682- $47,800.
• The personal bankers who are specialized in dealing account sales will get the salary in the range $28,050- $47,250.
• The personal bankers who are specialized in dealing financial analysis will get the salary in the range $29,452- $56,458.
• The personal bankers who are specialized in dealing customer service metrics will get the salary in the range $24,278- $36,785.

Educational requirements to become a personal banker:

A personal banker should be well qualified and should posses a strong educational background to perform his tasks efficiently.

The following are the educational requirements of a personal banker.

• A bachelor degree in commerce or business with the specialization in the subjects like accounts, finance is the mandatory thing to apply for the post of personal banker.
• Most of the top banking organizations prefer the candidates who have done masters in business administration along with the specialization in the finance.
• MBA in finance is the perfect study to apply for the job of personal banker as the coursework in MBA covers all the functions and services which are to be performed by a personal banker.
• A minimum of 3 years experience in retail banking or in any other related field is preferable.
• The experience demanded will be varying from one organization to other according to the particular norms.
• There are many financial institutions that offer training or internship programs to the candidates who are applying for the post of personal banker.
• Many reputed universities and business schools also offer summer projects and internships to the fresher’s in order to make them gain practical banking knowledge and corporate experience.
• They should also have the computer literacy to perform technical operations like updating database and entering data of the clients etc.
• The personal banker will be specialized in some fields such as account sales, sales, customer service metrics, consumer loans, customer relationship management, sales management, financial analysis, mortgage loans etc.
• They need to have excellent command over many languages as they have to communicate with the clients or customers from various regions.

Important duties and responsibilities of a personal banker:

• A personal banker offers advice to the customers about various investment options in order to provide security to their wealth.
• They follow the latest trends in the market and the recommends the customers with required changes in banking policies.
• They have to know complete details about the previous mortgages and loans of the clients and then sanction the new loans to them.
• They help the clients to make many informed choices.
• They need to be completely knowledgeable about various technical issues such as current rate of interests, projected trends, tracking of customer’s application fastly, etc.
• They need to promote the business of the bank by cross-selling the beneficial services and products of the bank.
• They need to have complete knowledge about all the existing services of the bank and their benefits so that they make the appropriate options to the customers’ needs.
• They need to be in contact with the clients or customers to inquire about their banking needs.

Responsibilities of a personal banker:

A wide range of responsibilities of a personal banker are given in the following list:

• A personal banker is responsible to look after the various procedures of opening, maintaining and winding up the bank accounts of the customers.
• They need to maintain the individual profiles with the details of potential and current clients.
• They are responsible to provide a wide range of fiscal services to the customers.
• They are responsible for checking the applied loan documents of the clients and then processes them accordingly.
• They are responsible to assist the clients in every aspect to satisfy their requirements.
• They also suggest various beneficial investing plans such as mutual funds, stock market, etc to the customers or clients in order to generate more money.
• They are also responsible to attend the phone calls of the branch to clear various queries of the customers.
• They are also responsible to send a reply mails to the customers suggesting them with the best solutions.

 About personal banker

A personal banker is one who deals with the clients and helps in managing their money. They assist the customers in various branch operational activities and provide financial services. The personal bankers process the transactions of new accounts of the customers. They help the customers in managing their fiscal status to balance return and risk of money.

The personal bankers are primarily responsible to perform the banking duties. They are also responsible for offering assistance to the clients in their financial activities of their personal accounts. They also perform the tasks like promoting the bank’s services and products. They oversees the activities like opening, closing and maintaining of all types of bank accounts, performing the clerical operations of the bank, maintaining a good relation with the customers for promoting bank services and referring the customers to the concerned staff.

Nowadays, many top banks provide a service known as “personal banker”.  A personal banker will not be having any fixed designation. Sometimes he will be a teller, sometimes he will be a loan officer, and in some other cases he will also be a branch manager who is responsible to offer customized and personal services to list of customers with specific banking essentials. They take the applications from the customers and suggest them with the appropriate product or service which are offered by the bank. They need to contact several customers daily to find out their banking needs and recommending the services which suits them best.

The personal banker acts as a professional fiscal adviser to the customers so that they can handle their wealth beneficially. They advise the clients about best investing plans and also make them aware about stock market shares and activities. They also assist the customers who have queries about the banking options by giving them a clear explanation about various beneficial ways to secure money.