Customer service in banking
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CUSTOMER SERVICE in BANKING. By: Doris Reins. OVERVIEW. Customer service could be considered the most important job in a bank. “The customer is always right!” This statement is true in every business.

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CUSTOMER SERVICE in BANKING

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Customer service in banking

CUSTOMER SERVICE in BANKING

By: Doris Reins


Overview

OVERVIEW

  • Customer service could be considered the most important job in a bank.

  • “The customer is always right!” This statement is true in every business.

  • One unhappy customer can taint the reputation of a business by telling everyone they know about their bad experience.

  • Good customer service people are a valuable asset to any business


How does this apply to banking

How Does This Apply to Banking?

  • All banking customers will come in contact with at least one of the following customer service positions:

    • BANK TELLER

    • NEW ACCOUNT REPRESENTATIVE

    • LENDING REPRESENTATIVE

    • BOOKKEEPING REPRESENTITIVE


Part 1

PART 1

BANK TELLER


A bank teller is

A bank teller is…

  • Considered a "front line" in the banking business.

  • The first person a customer sees

  • Most likely to detect and stop fraudulent transactions

  • Required to be friendly and interact with the customers

  • Provide information about customers' accounts and bank services.


Education training

EDUCATION & TRAINING

  • High school diploma

  • Background check.

  • On the job usually

  • Occupational Outlook Handbook, 2010-11 Edition


Job prospect

Job Prospect

  • FAVORABLE

  • Especially part-time positions

    Occupational Outlook Handbook, 2010-11 Edition


Earnings

EARNINGS

  • Median annual wages: $23,610

  • (May 2008)

  • Occupational Outlook Handbook, 2010-11 Edition


Bank teller responsibilities

Bank Teller: Responsibilities

  • The role of a bank teller requires organizational and time management skills.

  • The duties and responsibilities are wide in scope.

  • The following slides will give you a glimpse into the everyday tasks of a bank teller.


Bank teller cashier

Bank Teller: Cashier

  • Prepare deposit slips

  • Cash checks

  • Verify endorsements

  • Tender cash

  • Balance cash drawer


Bank teller distributor

Bank Teller: Distributor

  • Issue cashier’s checks

  • Savings bonds

  • Money orders

  • Traveler’s checks

  • Bank drafts

  • Cash advances


Bank teller helper

Bank Teller: Helper

  • Facilitate usage of safe deposit boxes

  • Respond to balance inquiries

  • Transfer funds between accounts


Bank teller security

Bank Teller: Security

  • detect and report counterfeit money

  • conduct customer identification procedures


Bank teller sales

Bank Teller: Sales

  • Recognize customer motivation and buying behavior

  • Implement sales promotion, selling and service distribution components of bank’s marketing plan


Part 2

PART 2

NEW ACCOUNTS REPRESENTATIVE

  • a.k.a Customer Service Rep.


A new account representative

A new account representative….

  • Have good communication, verbal communication and listening skills and problem-solving skills

  • Able to work independently

  • Respond to customer inquiries and make sure problems are resolved.

  • Handle complaints in accordance with bank policies.

  • Fix problems or suggest solutions.


Education training1

EDUCATION & TRAINING

  • Most require a high school diploma.

  • However, because employers are demanding a more skilled workforce, some customer service jobs now require associate or bachelor's degrees.

  • High school and college level courses in computers, English, or business are helpful in preparing for a job in customer service.

  • Bi-lingual is a plus.

  • Occupational Outlook Handbook, 2010-11 Edition


Job prospect1

JOB PROSPECT

  • Favorable

  • They make up a large proportion of bank employees

  • Occupational Outlook Handbook, 2010-11 Edition


Earnings1

EARNINGS

  • Median Earnings (as of 2008)

    = $27,995

  • Occupational Outlook Handbook, 2010-11 Edition


Customer service rep records keeper

Customer Service Rep.:Records Keeper

  • Record customer information

  • Issue customer signature cards for accounts

  • Issue safe deposit box.


Customer service rep sales

Customer Service Rep.:Sales

  • Analyze customer needs

  • Recognize customer motivation and buying behavior

  • Implement sales promotion

  • Selling and service distribution components of bank’s marketing plan


Part 3

PART 3

  • LOAN OFFICERS


A loan officer

A loan officer…

  • is an important customer service representative for any financial institution. They have the task of finding potential clients and helping them to apply for loans.

  • They usually specialize in commercial, consumer, or mortgage loans.

  • And they guide clients through the process of applying for a loan.


Education training2

Education& Training

  • Loan officers need a high school diploma and receive on-the-job training.

  • Commercial loan officer positions often require a bachelor's degree in finance, economics, or a related field.

  • Previous banking, lending, or sales experience is also highly valued by employers.

  • Occupational Outlook Handbook, 2010-11 Edition


Job prospect2

JOB PROSPECT

  • AVERAGE

  • Employment growth will be driven by economic expansion and population increases.

    Occupational Outlook Handbook, 2010-11 Edition


Earnings2

EARNINGS

  • Median annual wages were

  • $54,700 in May 2008.


Loan officer marketing

Loan Officer: Marketing

  • Recognize customer motivation and buying behavior

  • Implement sales promotion,

  • Selling and service distribution components of bank’s marketing plan


Loan officer decision maker

Loan Officer: Decision Maker

  • Analyze best loan alternative for customer

  • Obtain written loan application and credit report

  • Evaluate collateral

  • Approve/deny loan application

  • Obtain required signatures

  • Disburse loan funds


Part 4

PART 4

  • BOOKKEEPERS


A bookkeeper

A bookkeeper…

  • handles all financial recordkeeping.

  • posts debits and credits, produce financial statements, and prepare reports and summaries for managers.

  • also prepares bank deposits. They verify and balance receipts.

  • sends cash and checks also may handle payroll and make purchases

  • might prepare invoices and keep track of overdue accounts.


Education training3

EDUCATION & TRAINING

  • at least a high school diploma.

  • often required to have an associate degree.

  • Business or accounting degrees are most common.

  • a bachelor's degree is rarely required, but can be helpful when it comes to advancing.

  • certification in bookkeeping is also a plus.


Job outlook

JOB OUTLOOK

  • AVERAGE

  • Jobs will be more available as the economy grows.

  • Other positions will be available as people retire due to the constant need for bookkeepers.


Earnings3

EARNINGS

  • $32,510

  • Average earnings as of May 2008


Bookkeeper behind the scene

Bookkeeper: Behind the Scene

  • Post and balance general ledger

  • Process stop payments

  • Prepare bank statements

  • Process NSF’s (non-sufficient funds)

  • Encode transactions

  • Transmit proof data to processing center

  • Prepare balance settlement

  • Process return items


Bookkeeper customer contact

Bookkeeper: Customer Contact

Assist customer with account reconciliation

A bookkeeper will sometimes act as a teacher by helping customers learn how to reconcile a check register in order to keep a good checking record which will help in keeping a good credit rating.


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