A private banker is essentially someone who provides a primary point of contact for individual banking clients (as opposed to business customers).  A private banker builds relationships with an assigned portfolio of customers and provides end-to-end customer sales and service which includes servicing customer needs, resolving customer queries, cross-selling and upselling relevant bank products.  They may also offer financial advice, based on products available and they play a key role in retaining a bank’s private customers.

As a private banker you will probably have responsibility for, among other things:

• Selling products and services, with a focus on managing and building a customer’s wealth, whilst maintaining a high level of integrity and ethical standards.
• Retaining customers and reducing customer attrition.
• Attracting new customers and maximizing cross-selling opportunities, based on certain targets.
• Capturing managing and analysing customer information and data and making recommendations to improve the bank’s margins, cost of service and delivery strategies.
• Monitoring adherence to risk, compliance, and governance requirements such as NCA (National Credit Act), FICA (Financial Intelligence Centre Act) and FAIS (Financial Advisory and Intermediary Services Act) requirements.
• At more senior levels, private bankers take on responsibility for people management, depending on the team/s to which they have been assigned.