Last updated on March 21st, 2024 at 08:53 am
The Profile of a Relationship Manager
The job of a Relationship Manager is a mix of desk work and field work. The profile is unique and absolutely well defined, because of which growth prospects are very high in this field. The profile of a relationship Manager may vary from bank to bank, but there are some common profiles.
Acquisition manager is the one who generates business for the bank. Getting the clients through hard fieldwork is one of the key responsibilities of the Acquisition manager.
Service Relationship manager on the other hand enjoys the desk job and plays the key role as a client problem resolver along with selling of bank’s products and services.
The Relationship Manager is the care taker of the bank administration. They lead the team of direct sales associates (DSA). From training the team members, making the task teams to the association of DSAs with the customers are the key responsibilities of a Relationship manager. To ensure the topnotch services of a bank, relationship manager makes every possible effort to satisfy the customers.
Why Relationship Managers are important for the Banks?
The major role of a RM is to develop a strong bond between the customer and the bank, hence they play a key role in bringing and surviving the business to the bank. The expansion of banking training will result in the expansion of roles of the relationship managers.
Key skills required to be a Relationship Manager
With the increase in the requirement for the relationship managers, there will be a significant rise in the competition. Employers in near future will prefer the people with the specialized skills.
The specific skill sets required to be a Relationship manager are:
Administrative Skills/Strategizing
As the role of the RMs lies in team building and task assignment, the data management skills and other administrative skills helps the manager to be effective in his/her role.
Verbal and Non-Verbal Communication skills
Team building is the key role of a relationship manager. Setting up proper instructions and understanding of communication flow and leakage always helps relationship managers to manage the large teams. Developing the strategies and demonstrating the same to the top management requires good command over the communication skills of a RM.
Interpersonal skills
A person with extreme level of patience can perform this job effectively. Dealing with the varied customer base, with varied service expectations require a good command over the interpersonal skills.
Hearing out the customers and satisfying them with requisite solutions may bring many loyal customers. This can be achieved by a person who give immense importance to the interpersonal skills. Physically and emotionally sound people are well suited for the job of a RM.
Product understanding
A RM must have sound understanding of the products to be sold in the market. Making the team of DBAs understand the products and training them to be ready for each and every question that customer may ask is a must have skill for every RM.
Networking
One loyal customer will bring many more customers to the business. A RM not only brings customers to the bank, instead convert them into loyal customers and try to covert the references of the loyal customers into future customers. Hence, networking is the must have skills for the RMs.
Qualification
Qualification to be a RM vary from bank to bank. Some banks hire MBA graduates only for this post, whereas some banks promote the executive level people to this position.
