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A commercial banker usually has an active role in financial business development, bank management and market leadership. They must manage existing relationships, generate new business opportunities and represent the leadership team in meetings. Most banks expect them to be able to grow revenue by successfully prospecting new clients, retaining existing relationships and expanding into new commercial markets.
What are Their Job Duties?
Commercial bankers must identify, pursue and close opportunities for a wide range of financial services and products. They must manage complex client relationships who maintain multi-product lines. They are usually the main market banking representative to high-end clients. Commercial bankers coordinate the sales and service efforts of internal business partners to ensure proper coverage of all contractual requirements, technology prospects and banking needs. They may proactively call on clients, vendors, prospects and business partners.
Commercial bankers may represent their bank in local finance meetings and business community events. They often collaborate with credit underwriting teams on the analysis, structuring, negotiation and documentation of account requests. They must strictly comply with all regulatory rules, corporate policies and internal procedures. They may also have portfolio management responsibilities to maintain high credit quality standards.
What are Their Job Qualifications?
Commercial bankers usually have five to 10 years of finance, banking and accounting experience. They are expected to have strong financial analysis, risk management, credit underwriting and decision-making skills. They will use their strong analysis skills to evaluate tax returns, customer profiles, financial statements and business relationships. Their demonstrated business development experience is proven through sales records and achievements. The best individuals will have the right amount of professional progress and commercial customer success.
Commercial bankers must have impeccable oral and written skills to internally communicate with peers and externally communicate with clients and prospects. Commercial bankers must have excellent public relations and rapport-building skills. They are the public centers of influence who should portray respect, manners and professionalism. Their willingness to provide high levels of service to clients will clearly differentiate them from the competition.
What is a Sample Career Profile?
A commercial banker who works for a typical corporate bank will manage assigned portfolios, strengthen current relationships and focus on commercial lending opportunities. They may independently pursue, develop and service a wide variety of financial services. They must meet and exceed sales goals regarding loans, deposits, incomes and referrals. These commercial bankers will develop new customer relationships through networking, cross-selling opportunities and referrals from business partners.
They may partner with the branch manager by serving as the primary point of contact for new business customers. Those who work in smaller firms may act as the commercial banking expert for their branch. Most commercial bankers generate Small Business Administration (SBA) loans by developing and maintaining active connections with local SBA offices, Chambers of Commerce, business development programs and university entrepreneur centers.
Related Resource: What is a Management Analyst in Finance?
Commercial bankers are responsible for identifying financial needs, delivering solutions to meet these needs and delivering quality customer service. They evaluate credit worthiness, review applicant financial data and proactively manage customer relationships by serving in community organizations.
