Commercial banks are expanding their base, and almost every nook of the country today has a commercial bank at its service. Considering this, banking and insurance sector is quite a popular choice in India. The job profile of a relationship manager is quite challenging indeed, and has to perform the role of managing a branch office and ensuring its smooth administration. He/she is assigned an area under his purview, and the RM has to overlook the business development of that particular branch/area.
Job profiles of RMs can expand to the following areas –
- In case of retail clients (called Retail Banking), the products in focus are deposits, savings account, credit cards and loans.
- Investment services or demat accounts are also other standard offerings.
- In case of institutional clients (also called Corporate Banking), the focus is on current accounts, loans, overdrawing facilities, working capital, trade finance etc.
- The job, as mentioned above, is to bring in new business while servicing the existing customer base.
- Usually, RMs are given targets by their firms which they need to work towards.
- RMs also need to work on all the paperwork related to the banking services before turning them over to the operations teams in their banks.
- Lead the branch managers to achieve targets and propaganda of business
- Development of new clients and/or selling new products to existing clients.
- Helping clients in developing businesses.
- Address operational issues of branches under his/her purview.
- Monitoring and communicating issues, supervising activities in the regional branches.
- As the manager moves to a higher position, more and more regions come under his purview and his role goes forward to developing strategies for business growth.
Thus, the job profile of a RM is quite demanding and taxing, since it requires him to juggle multiple responsibilities. However, the career path is full of opportunities to learn, and he/she gets to liaison with clients from various business sectors. Of course, growth in commercial banks is through in-house training and passing evaluation exams.