var cb = function() { var l = document.createElement('link'); l.rel = 'stylesheet'; l.href = '/frontend/css/styles-critical.css'; var h = document.getElementsByTagName('head')[0]; h.parentNode.insertBefore(l, h); }; var raf = requestAnimationFrame || mozRequestAnimationFrame || webkitRequestAnimationFrame || msRequestAnimationFrame; if (raf) raf(cb); else window.addEventListener('load', cb);

Retail Banking

Summary

Retail banking employees are responsible for providing operational guidance to staff within a particular branch, and they are responsible for achieving defined sales targets. They are also involved in selling standardised retail banking products such as insurance, mortgages, credit cards and credit lines.

Typical activities

  • Provide operational guidance and direction.
  • Achieve defined sales targets.
  • Analyse profitability and credit risks.
  • Develop plans to deploy relevant business strategies.

Synonyms or related job titles

Bank Teller, Banking Clerk, Money Changer

Summary

Retail banking management staff are responsible for providing direction and guidance to those within a branch or network of branches, helping to drive the sales of certain retail banking products to meet defined sales targets.

Typical activities

  • Achieve defined sales targets.
  • Provide direction and guidance to those in a specific branch or network of branches.
  • Sell various retail banking products.
  • Analyse profitability and risk.

Summary

Retail banking employees in the product consulting department are responsible for dealing with more complex retail banking products. They also must maintain and communicate their working knowledge of retail banking legislature. They communicate with product developers, and also get involved with marketing teams.

Typical activities

  • Provide specialist advice on complex retail banking products.
  • Provide technical advice to sales force regarding regulatory requirements.
  • Stay up to date with legislative changes.
  • Prepare and interpret documentation, handbooks and contracts.

Synonyms or related job titles

Estate Planner, Financial Planner, Investment Advisor

Summary

Retail banking employees working in the product development department are responsible for the development and evaluation of new consumer finance products. They use their research skills to create products that are profitable for the business, and they lead, plan and track all phases of the product development cycle.

Typical activities

  • Develop and evaluate new consumer finance products.
  • Translate research into usable and marketable products.
  • Appraise and assess the potential of new finance product ideas.
  • Establish product specifications that meet customer requirements.

Summary

Those working in the sales and service department of retail banking are responsible for meeting specified sales targets through the sale of standard retail banking products such as checking and savings accounts, as well as credit cards. They also provide customer services to ensure the customer satisfaction rate is high and the department is profitable.

Typical activities

  • Sell standard retail banking products.
  • Achieve defined sales targets.
  • Analyse profitability and risk of credit commitments.
  • May perform various administrative activities.