A business banker, also known as a commercial or investment banker, generally works in a financial institution and will be allocated a portfolio of businesses, ranging from large businesses to SMME’s (Small, Medium and Micro Enterprises). A business banker would be required to develop a close and trusted relationship with their clients, learn and understand their business goals, manage their business portfolios, and help them to manage their finances successfully.
Typical responsibilities of a business banker would include the following:
- Accurately understanding a business’s requirements and providing appropriate advice on the best banking and financial products to meet the client’s needs.
- Engaging with business clients to build a trusted relationship and be responsive to the client’s needs.
- Acquire and open new business accounts and cross sell business banking products, as required.
- Understand and manage all risks associated with client accounts and ensure compliance to requisite standards, legislation and the Code of Banking Practice.
- Gather accurate data and monitor opportunities and risks associated with client’s banking activities.
- Add value to the client and positively influence client retention by the bank.
With South Africa having numerous large and smaller banks, opportunities to work in the banking sector are generally good. According to the South African Graduate Employer’s (SAGEA) Employer Benchmark among 69 top graduate employers, there were over 60 graduate retail banking vacancies in 2022.
The following would be qualities most needed to be successful in this role:
- Analytical, with an ability to process data, information and uncover solutions.
- Strong communication, negotiation, and presentation skills.
- Excellent at networking and building trusted relationships.
- Organized, able to prioritise demands and deliver solutions.
- Strong ethics and integrity.
- Ability to manage and resolve conflicts.
- Strong commercial acumen.
- Excellent customer service ethic and selling abilities.
Relevant degrees would include business, economics, finance, management, or marketing. With banking becoming increasingly digital in nature, it may also be advantageous to have a qualification in an IT-related field.
Meet the entry requirements for a BCom or Business Commerce Diploma
A B-degree or Diploma in business, economics, finance, management, or marketing.
Association membership options
An FAIS-aligned qualification, the qualification needs to be registered with the Financial Sector Conduct Authority (FSCA).
Professionals in this sector have potential to grow their earnings substantially, depending on their experience and role.
BCom in Business, Economics, Finance, Management or Marketing
There are many accredited public and private higher education Institutions in South Africa offering a BCom.
Business Commerce Diploma
SAGEA Employer Benchmark Insights
Job Descriptions supplied by Standard Bank