Understanding the Role of a Relationship Associate in Business Banking
The banking industry has a diverse range of roles, and one of the key positions is that of a Relationship Associate in Business Banking. This position requires a unique combination of banking expertise, an understanding of commercial lending, and excellent interpersonal skills. In this piece, we will delve into the role, responsibilities, and qualifications required for this position based in Los Angeles, CA, focusing on the opportunities it offers at City National Bank (CNB).
The Opportunity and Role Expectations
A Relationship Associate in Business Banking is primarily responsible for developing and managing business relationships with banking clients. Their area of service includes specific business segments and/or geographic areas, and their work is instrumental in achieving the bank’s goals and objectives. They are involved in the sales process, ensuring credit quality, and risk management guidelines are maintained, while also presenting a variety of product solutions to meet client needs.
As a Relationship Associate at CNB, one is expected to provide responsive quality service, approve transactions within a delegated authority, manage the overall relationship profitability and portfolio risk, and be accountable for the profitable growth of the assigned portfolio.
Core Responsibilities of a Relationship Associate
The primary responsibilities of a Relationship Associate in Business Banking at CNB range from business development, client relationship management to risk mitigation. They are expected to identify and develop profitable relationships with prospects and clients, understand their specific financial needs, and provide effective solutions, all while maintaining the bank’s credit quality standards.
The scope of work also includes preparing a Relationship Plan and calling schedule for each client or prospect. This is done in line with the strategic business development program. The Relationship Associate is responsible for identifying business opportunities, soliciting referrals of other bank products or services, and developing a strong understanding of the company, industry, business, and needs to assist in client calling efforts.
Another significant responsibility is to negotiate transactions, document and close loan transactions, and ensure conformance with bank policies and regulatory requirements. Additionally, they are expected to represent the Bank in civic and community affairs, business and industry-related organizations, and other professional activities.
Required and Additional Qualifications
For this role, a minimum of three years of banking experience is required, including at least a year each in commercial lending and credit. Additional qualifications include a working knowledge of bank operations, policies and procedures, regulatory compliance, a general understanding of bank products and services, good interpersonal, verbal and written communication skills, and problem-solving abilities.
Compensation, Benefits, and Perks
The compensation for this role ranges between $28.58 – $45.66 per hour, with eligibility for bonuses and/or commissions. CNB offers comprehensive healthcare coverage, a generous 401(k) company matching contribution, tuition reimbursement, vacation, sick and volunteer time, fertility benefits, and cancer, diabetes and musculoskeletal support programs among other benefits.
In conclusion, a Relationship Associate in Business Banking plays a crucial role in a bank’s operations. Their work involves a blend of relationship management, business development, and risk management, making them an integral part of the banking team. The role offers a competitive salary, a plethora of benefits, and the opportunity to grow within one of the leading diversified financial services companies in North America.
To learn more about City National and our dynamic company culture, visit us at About Us.
