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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!

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Presentation on theme: "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!"— Presentation transcript:

1 CUSTOMER SERVICE in BANKING By: Doris Reins

2 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

3 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

4 PART 1 BANK TELLER

5 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.

6 EDUCATION & TRAINING High school diploma Background check. On the job usually Occupational Outlook Handbook, Edition

7 Job Prospect FAVORABLE Especially part-time positions Occupational Outlook Handbook, Edition

8 EARNINGS Median annual wages: $23,610 (May 2008) Occupational Outlook Handbook, Edition

9 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.

10 Bank Teller: Cashier Prepare deposit slips Cash checks Verify endorsements Tender cash Balance cash drawer

11 Bank Teller: Distributor Issue cashier s checks Savings bonds Money orders Traveler s checks Bank drafts Cash advances

12 Bank Teller: Helper Facilitate usage of safe deposit boxes Respond to balance inquiries Transfer funds between accounts

13 Bank Teller: Security detect and report counterfeit money conduct customer identification procedures

14 Bank Teller: Sales Recognize customer motivation and buying behavior Implement sales promotion, selling and service distribution components of bank s marketing plan

15 PART 2 NEW ACCOUNTS REPRESENTATIVE a.k.a Customer Service Rep.

16 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.

17 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, Edition

18 JOB PROSPECT Favorable They make up a large proportion of bank employees Occupational Outlook Handbook, Edition

19 EARNINGS Median Earnings (as of 2008) = $27,995 Occupational Outlook Handbook, Edition

20 Customer Service Rep.: Records Keeper Record customer information Issue customer signature cards for accounts Issue safe deposit box.

21 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

22 PART 3 LOAN OFFICERS

23 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.

24 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, Edition

25 JOB PROSPECT AVERAGE Employment growth will be driven by economic expansion and population increases. Occupational Outlook Handbook, Edition

26 EARNINGS Median annual wages were $54,700 in May 2008.

27 Loan Officer: Marketing Recognize customer motivation and buying behavior Implement sales promotion, Selling and service distribution components of bank s marketing plan

28 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

29 PART 4 BOOKKEEPERS

30 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.

31 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.

32 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.

33 EARNINGS $32,510 Average earnings as of May 2008

34 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

35 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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