Personal bankers work in retail banking branches and help clients with their banking or financial needs. They frequently engage with customers to advise them on which bank products can best help them achieve their financial goals. They assist the client with opening new accounts such as a checking, savings, loan, mortgage and retirement account from the bank at which they work. If helping customers with their finances in a banking setting sounds like the ideal career for you, read on to learn the details of how to write a resume that can help get you the job now! Let’s start by looking at three resume format examples that help different candidates leverage their unique qualifications
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Job duties of a personal banker
From building relationships with customers to analyzing their financial options, a personal banker’s day is full of interactions and finances. Here are some of the expected daily responsibilities of the job:
Helping clients open and close accounts and strategically pitch related products or services that will take them closer to their financial goals.
Meeting with supervisors to define and surpass sales objectives for various client bases.
Engaging customers in personal conversations and asking questions to assess their financial needs creates an exceptional customer experience.
Being personable with customers to build relationships and trust.
Learning the ins and outs of the bank’s products and services.
Recommending products and introducing customers to other bankers to refer them to partners to meet their broader financial needs.
Completing daily operational tasks on time.
Ensuring both customer and bank safety by adhering to all policies, regulations and procedures.
Personal banker median salaries
According to PayScale, personal bankers earn an average base salary of $40,247 annually as of August 2021. An entry-level personal banker can earn anywhere between $16.47-$17.29 an hour including tips, bonuses and overtime pay. Later on, midcareer to experienced personal bankers can earn between $18.29-19.45 hourly.
Top skills for personal bankers
- Attention to detail: It is of the utmost importance for a personal banker to develop the habit of double-checking their work. Even the slightest error could be financially catastrophic. This also means they have to maintain the ability to stay focused throughout long work shifts.
- Customer service: Answering questions, fixing problems and providing excellent service develops rapport with clients. This allows personal bankers to sell bank products like accounts, loans and various financial products that fit the customer’s needs.
- Good communication: When coworkers and customers misinterpret unclear instructions from a banker, important information may get lost or logged erroneously. Poor communication can cost the bank money, time and customers. Bankers must form their thoughts, communicate them clearly and understand the mechanics of turn-taking. Every student who plans to become a banker should make a habit of employing clear and concise communication in written form, electronic sources and verbal dialogue.
- Technological skills: Most business is conducted electronically, and bankers must know how to use the bank’s apps and software for computers, phones and tablets. Moreover, personal bankers encourage and help customers understand the bank’s digital products.
- Product knowledge: As a personal banker, you will be looked to for your expertise in the bank’s products and services. That way, you can identify what’s best for your client and inform them of their options. Mastery of the types of accounts and loans also gives you the ability to find upselling opportunities.
- Excellent mathematical skills: Pivotal to this type of job, a banker must perform basic mathematical operations to ensure a quick and effective customer process.
- Expertise in preparing budget summaries: A budget summary is a report of an individual or an organization that incorporates all the data about their existing resources, cash flow, and investors’ commitment over a specific period. A personal banker must check business data, request credit reports and fiscal summaries, and audit security arrangements and promissory notes.
- Portfolio analysis: Investing in the right combination of products, services, markets, and global regions ensures your customer is set up for success with a diversified portfolio. Personal bankers use their expertise to analyze customer and market data to recommend and monitor effective investment strategies that include 401(k), Roth IRA, money market accounts, certificates of deposit, and stocks and bonds.
Educational requirements for personal bankers
EducationUsually, a bachelor’s degree in finance, accounting or a similar quantitative field is the base prerequisite for a personal banker at the entry level. Other majors may be considered so long as the candidate took courses in risk management, taxes and investment ventures, and show that they understand calculus and business statistics. However, larger banks require a master's degree. A few universities that offer such courses are the University of Pennsylvania, New York University and Massachusetts Institute of Technology.
LicensesBankers must be licensed if their role is involved in the sale or purchase of bonds, stocks and protection policies, and if they need to give explicit investment suggestions. If your role has these broker duties, you must enlist with the Securities and Exchange Commission (SEC) or with state controllers. For the license or certification, you can access the requirements for the qualifying exam at the North American Securities Administrators Association.
Beside this, they may need to hold a license with the Financial Industry Regulatory Authority (FINRA), which qualifies candidates through a few tests like the Securities Industry Essentials Exam (SIE).
CertificationsFor personal bankers, the Certified Financial Planner (CFP) certification is a popular choice. To get this certification, you should have a financial degree or take coursework from an accredited program to be able to sit for the licensing exam and pledge to follow the code of ethics. Up to 10 years before passing the exam, you must have obtained one year of supervised experience or three years of unsupervised experience. This experience requirement can also be acquired after passing the exam.
There are other certifications for personal bankers that may be required, like the Certified Personal Banker (CPB) credential offered by the American Bankers Association and FINRA, and the Financial Risk Manager Certification (FRM®) by the Global Association of Risk Professionals (GARP). These certifications may also give your profile a competitive edge. Alternatively, private companies such as Udemy and Coursera offer diverse courses for personal bankers. Udemy has a useful course in Innovations on Digital Banking that will allow any employee or prospective employee to stay on top of new banking technology. Coursera’s Economics of Money and Banking is another beneficial course from Columbia University for students to adapt to the current economic landscape.
Personal banker resume-writing tips
Now that you know what skills and responsibilities are part of a personal banker’s job, you need a stellar resume to showcase your abilities to hiring managers. Here are a few pointers to help you out.
- Use the appropriate keywords: When listing your skills and past job responsibilities, you need to make sure that you’re including the ones the employer wants. Read through the job description to identify the keywords they’re using to describe the ideal candidate. Include the keywords you find in your resume to tailor it to the position for which you’re applying. Of course, be honest and list only the ones you truly have.
- Include a cover letter: While not all employers will ask for a cover letter, it doesn’t hurt to include one with your resume. Cover letters give you the chance to add information you can’t detail in your resume. It also gives you an added opportunity to convince the employer that you’re the right fit for the role. Mention who you are as a professional, how your qualifications can help the company reach their goals, how the role or company aligns with your career objectives and the achievements you’ve had that make you an excellent candidate.
- Quantify your tasks and achievements: Listing the responsibilities of your previous jobs is necessary to help the employer understand your experience. Additionally, including at least one achievement per previous position can help you stand out as a highly competitive candidate. What’s more, if you quantify those statements, you can create a better impression on the recruiter. Some ways you can quantify your experience is to mention:
For example, while it’s OK to mention that you “helped customers open various types of accounts that exceeded the bank’s monthly target,” it’s better to say “helped on average 10 customers a day open checking, savings, money market and retirement accounts, exceeding monthly objectives by 15%.”
- Amount of time and/or money you’ve saved a previous employer.
- Percentages of improvements you made.
- Number of people or projects you worked with.
- Frequency of performance of certain tasks.
- Choose the best format for you: Depending on your experience level and qualifications, you may want to highlight different aspects of your profile that make you the ideal candidate. For this, it’s imperative that you select the resume format that will best showcase your qualifications. For example, if you have little to no experience, detailing your relevant skills is more beneficial than detailing your job history. A functional format resume will allow you to do just that. If you have a few years of relevant work experience, you can opt for a combination format resume, which allows you to showcase both your skills and experience. Alternatively, you can choose to display your work history front and center, for which you can employ a chronological format resume.
What are the available career options in personal banking?
A personal banker may work in retail banking, investment banking, or financial services firms such as in wealth management and fund management. Another choice for a personal banker career is to work as a financial consultant or financial adviser. Individuals and businesses also hire private consultants to provide financial products and services.