How to become a banker

Job description: What does a banker do?

Banker usually advise customers on money matters within a bank branch. They provide information about payment transactions for transfers (e.g., online banking), the various account types, and financial or capital investments. Banker advise their customers in detail and initiate these business deals, especially when it comes to contracts for loans, building society contracts, pensions, or life insurance policies. Once an agreement has been concluded, it will later be processed and recorded internally.

The advisory activity has a focus on the work as a banker. Sound knowledge of the financial products offered by the bank is, therefore, essential. On behalf of customers, they open accounts, manage custody accounts, and develop their strategies for various forms of investment, which can then be proposed to customers. They also advise customers on legal regulations or tax guidelines. To inform customers competently about investments in the securities markets, bankers always focus on the current economic development and find out about the product of individual companies in which investments have been made. Credit or investment advice is always documented and filed by the banker to protect the customer. When managing a custody account, not only securities but also raw materials and foreign currencies are traded. Here, too, the banker is responsible for processing, instructing foreign correspondent banks, and buying or selling raw materials on the markets.

Besides the advisory aspect, bankers also have to do with the money efficiently. When working at the counter, deposits are received, checks are paid out, or cash payments are made. Valuables or papers are kept for customers in lockers or safes. Foreign currencies are also paid out or converted, whereby current exchange rates and fees must be observed. Behind the scenes, a banker plans work processes or carry out controls in accounting. Checking compliance with statutory regulations or guidelines also falls within the remit of bankers. Preparing reports on such rules is also their job. Also, customer accounts are checked internally, and essential business partners are kept in view. Depending on the area in which you work as a banker, personnel matters such as job interviews or company meetings can also be organized. Correspondence with other banks at home and abroad is also part of the activities of bankers.

Banker responsibilities and requirements

As a banker, you should have at least an excellent secondary school diploma. Here, the grades in the main subjects such as mathematics and English should be good. Applicants with a high school diploma are usually preferred. Here, too, particular attention is paid to the grades of the main subjects. Good knowledge of the English language is one of the essential requirements for bankers’ advisory activity. A good understanding of English and an affinity for mathematics are also crucial for practicing this profession. Good English not only affects language skills but also comprehension of the text. Bankers must understand general terms and conditions and legal regulations without any problems.

In addition to school qualifications, you should also have a personal interest in working in a bank branch. This includes commercial activities such as drawing up credit agreements or checking business accounts. Social skills such as empathy, attentive listening, and patience are essential soft skills for advising customers. As an applicant, you should also have a certain amount of interest in administrative and organizational activities, as business processes are documented.

A lot of concentration and a quick grasp is required when dealing with money. Advising different types of customers daily requires a high degree of flexibility and the ability to adapt accordingly. Appearance and appearance are also important: An open, friendly nature helps with service activities and teamwork with colleagues. An exceptionally well-groomed appearance and compliance with dress codes (suit, costume) give customer security and exude seriousness.