What does a Private Client Banker do?
Private bankers manage money and oversee financial activities for high net-worth clients while developing relationships with clients. They provide banking services including personal cash management, secured and unsecured credit and investment management, and interest services. They are responsible for identifying potential new clients and working with them to build a lasting relationship to ultimately manage their wealth.
Private bankers work with clients to help meet financial needs or goals. They advise and consult with clients proactively and explain available financial services. They educate clients about investment options and inform them of potential risks when recommending investments. They are also required to closely monitor client account performance to ensure that the account is behaving positively and meeting the client's needs. Private bankers need a bachelor's degree in finance and relevant training in sales and client experience, private banking and wealth management, and formal credit training completion.
- Coordinate commercial, consumer and other loan requests through established processes.
- Perform a variety of portfolio management and compliance functions.
- Provide input to maintain current risk ratings on customers.
- Coordinate with related departments to review customer and prospect situations and determines appropriate products and services to offer.
- Establish and implement programs designed to generate new business and promotes trust services.
- Establish relationships with high net worth clients to monitor financial situation and identify client needs resulting in new sales opportunities.
- May assist with the development of new business by participating in client and/or prospect calls and presentations.
- Evaluate clients' financial situations and recommends and negotiates for policy exceptions on behalf of clients, if applicable.
- Facilitate the interaction between the customer and bankers (officers, loan operations, analysts, etc.) to ensure the customer receives a rapid response, an error-free process, consistent communication, and a professional experience that is both friendly and positive.
- Prepare credit packages and work closely with middle office and credit administration to facilitate appropriate credit approval.
- Adhere to FDIC guidelines regarding retail and other transactions.
- Successfully perform teller functions, cash handling, security, online banking, wire transfers, and open new accounts.
- Assist with lending opportunities by requesting client documents. act as a liaison for clients, the profit center, and operations associates.
- Strictly adhere to all risk and control policies, regulatory guidelines and security measures.
- Bachelor's Degree in business or finance.
- Practiced in agile business operation techniques.
- Demonstrate tenacity and drive in solving customer issues.
- Well-developed collaboration and critical thinking skills.
- Advanced banking experience.
Private Client Banker Career Path
Learn how to become a Private Client Banker, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Private Client Banker Insights
“If you don't have phone experience... it might take a while before you have good bonuses”
“I've worked with many amazing teams and had ample opportunities to grow and progress my career.”
“potential pay is good”
“Pay and bonus is way below market”
“Great place to learn and grow your career.”
“Vacation and federal holidays.”
“It was good to work at”
“Good Firm to work for but not the best benefits for staff”
Private Client Banker Interviews
Frequently asked questions about the role and responsibilities of a Private Client Banker
- Relationship Banker
- Personal Banker
- Universal Banker