CUSTOMER SERVICE in BANKING

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, 2010-11 Edition

7. Job Prospect • FAVORABLE • Especially part-time positions Occupational Outlook Handbook, 2010-11 Edition

8. EARNINGS • Median annual wages: $23,610 • (May 2008) • Occupational Outlook Handbook, 2010-11 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, 2010-11 Edition

18. JOB PROSPECT • Favorable • They make up a large proportion of bank employees • Occupational Outlook Handbook, 2010-11 Edition

19. EARNINGS • Median Earnings (as of 2008) = $27,995 • Occupational Outlook Handbook, 2010-11 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, 2010-11 Edition

25. JOB PROSPECT • AVERAGE • Employment growth will be driven by economic expansion and population increases. Occupational Outlook Handbook, 2010-11 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.