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Banking Consultant Duties and Responsibilities

Daily tasks for banking consultants vary based on the different financial services provided by the bank and the amount of foot traffic coming into the facility. However, these job duties are common in most banks:

Greet Customers Banking consultants greet customers who enter the bank. They ask clients if they need assistance and direct them to the most appropriate representative within the bank.

Answer Questions Banking consultants answer all questions customers have about the bank, its services, and the customer's finances in general.

Maintain Knowledge of All Services Banking consultants must maintain a thorough working knowledge of all the services available at the bank, including mortgage and lending options and how customers can apply to receive these services.

Make Recommendations Banking consultants speak with customers and make recommendations about specific bank services and accounts that would best serve their financial needs.

Prepare Applications Banking consultants prepare loan and credit applications for customers seeking various bank services and pass these applications along to the appropriate departments within the bank.


Banking Consultant Skills and Qualifications

Banking consultants use customer service and sales skills to sell various financial services to customers and answer all customer questions. Banks and other financial institutions who hire banking consultants look for individuals who have the following specific skills and abilities:
  • Customer service - banking consultants use customer service skills to greet customers and guide them to the appropriate banking representatives
  • Communication skills - excellent communication skills are essential for banking consultants, who respond to customer questions and function within a team-oriented, collaborative work environment
  • Salesmanship - banking consultants use sales skills to promote various financial services and market-specific bank programs
  • Interpersonal skills - banking consultants use strong interpersonal skills to advise customers on various financial matters, make them feel at ease, and help them trust that their finances are in good hands
  • Computer skills - because so many banks use software programs and digital file systems, some basic computer skills are essential for banking consultants
  • Analytical thinking - banking consultants use strong analytical skills to assess the financial needs of individual customers and determine how to best serve those needs

Banking Consultant Education and Training

Employers hiring banking consultants strongly prefer candidates to have a bachelor's degree in business, finance, accounting, or a similar field of study, but this is not always required. Many employers also seek professionals who have past banking industry experience. Training is provided to banking consultants, though the length of this period varies by employer and by the candidate's past education and experience. During training, banking consultants work closely with the senior banking consultant or bank manager until they're able to perform their job duties on their own.

Banking Consultant Salary and Outlook

PayScale data shows that banking consultants earn $64,648 in median annual income. Accountants and auditors earn $69,350 annually, or $33.34 hourly. According to information from the Bureau of Labor Statistics, this job field is expected to grow 10 percent through 2026. This rate is faster than the national job growth average. Most banks and financial institutions provide full benefits packages to banking consultants. These include healthcare; dental, vision, and life insurance coverage; and retirement benefits. Paid vacation days, holidays, and sick days are included in these packages. Some banking consultants also receive monetary bonuses for signing new customers up for various financial services within the bank.

Helpful Resources

Discover career techniques, tips, and strategies for banking consultants by exploring the resources available through these books and websites:

National Bankers Association - find services, resources, and upcoming event dates for all professionals in the banking industry at this website

Behind the Lender's Desk: A Reference Guide for Commercial Bank Lenders and Business Borrowers - use this reference guide to learn tips for making recommendations to customers, study case examples, and learn techniques for working in the banking industry

American Bankers Association - explore upcoming training events, browse online training courses, find certification programs, and discover other resources for banking industry professionals at the ABA website

Currency Risk Management: A Handbook for Financial Managers, Brokers, and Their Consultants - this handbook for banking consultants explores currency risk management

Consumer Bankers Association - participate in webinars, find education resources, and explore news updates at this website designed for professionals in the consumer banking industry

Management Consultancy and Banking in an Era of Globalization - this book was written to provide banking consultants with tips and strategies for working in the modern financial era

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