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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. 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?


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
BANK TELLER

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


High

school diploma Background check. On the job usually

Occupational Outlook Handbook, 2010-11 Edition

Job Prospect
FAVORABLE Especially

part-time positions

Occupational Outlook Handbook, 2010-11 Edition

EARNINGS
Median

annual wages: $23,610

(May 2008)

Occupational Outlook Handbook, 2010-11 Edition

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


Prepare deposit slips Cash checks Verify endorsements Tender

cash Balance cash drawer

Bank Teller: Distributor


Issue cashiers checks Savings bonds Money orders Travelers

checks Bank drafts Cash advances

Bank Teller: Helper


Facilitate usage

of safe deposit boxes Respond to balance inquiries Transfer funds between accounts

Bank Teller: Security


detect and report counterfeit money conduct customer identification procedures

Bank Teller: Sales


Recognize customer motivation and buying

behavior Implement sales promotion, selling and service distribution components of banks marketing plan

PART 2

NEW ACCOUNTS REPRESENTATIVE


a.k.a

Customer Service Rep.

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 & 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 PROSPECT
Favorable They

make up a large proportion of bank employees

Occupational Outlook Handbook, 2010-11 Edition

EARNINGS
Median

Earnings (as of 2008)

= $27,995

Occupational Outlook Handbook, 2010-11 Edition

Customer Service Rep.: Records Keeper


Record customer information Issue customer signature cards for accounts Issue safe deposit box.

Customer Service Rep.: Sales


Analyze customer needs Recognize customer motivation and buying

behavior Implement sales promotion Selling and service distribution components of banks marketing plan

PART 3

LOAN

OFFICERS

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& 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 PROSPECT
AVERAGE Employment

growth will be driven by economic expansion and population increases.

Occupational Outlook Handbook, 2010-11 Edition

EARNINGS
Median

annual wages were $54,700 in May 2008.

Loan Officer: Marketing


Recognize customer motivation and buying

behavior Implement sales promotion, Selling and service distribution components of banks marketing plan

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

BOOKKEEPERS

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.

A bookkeeper

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
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.

EARNINGS
$32,510 Average

earnings as of May 2008

Bookkeeper: Behind the Scene


Post and balance general ledger Process

stop payments Prepare bank statements Process NSFs (non-sufficient funds) Encode transactions Transmit proof data to processing center Prepare balance settlement Process return items

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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