The Role of a Bank Manager in Retail Banking
The role of a bank manager in a retail banking center is of high significance. This position not only demands a dynamic leadership approach but also calls for effective management skills to ensure the success of the banking center. This leadership role requires a holistic approach, encompassing the readiness of all Relationship Bankers, leading growth, contributing to a successful customer-centric experience, and efficiently managing operational risk activities. Striving for excellence in execution in each of these areas is fundamental for the overall performance of the banking center.
The bank manager is expected to provide transformational leadership across all areas of the banking center. The work schedule for this role could sometimes involve occasional evenings or Saturdays, and temporarily working at other assigned banking center locations based on staffing needs.
Leadership Activities of a Bank Manager
A bank manager is responsible for leading, coaching, evaluating, executing, and impacting the proactive leadership activities aimed at attracting, expanding, and retaining customers. The manager is responsible for developing banking center plans to determine, coordinate, and execute growth activities. This is achieved by aligning weekly goals with sales and operations activities, delivering daily coaching, and evaluations for effective execution.
The manager also focuses on effective onboarding and engagement of new consumers by routinely strengthening new and current customer relationships, introducing new and existing customers to the bank’s products and services, and addressing customer queries. Participation in community involvement activities helps increase bank outreach and foster new business client relationships at the banking center. The manager identifies opportunities to introduce customers to partners at appropriate moments and encourages referrals from client relationships and Centres of Influence (COIs).
Talent Leadership and Operational Risk Management
A successful bank manager develops and manages a high-performing team. They directly manage the day-to-day Human Resources processes for employees, which include selection, training, performance management, disciplinary actions, individual career development, recognition, and retention.
Bank Managers are also accountable for compliance with applicable federal, state, and local laws and regulations, as well as the bank’s policies and procedures. They oversee operational and risk activities, and results within the Banking Center, ensuring the completion of necessary compliance-related training for the colleagues at their banking center(s). They also manage the execution of opening/closing procedures.
Customer Experience and Partnership Activities
A Bank Manager’s role also involves leading, managing, and coaching the team to assess customer and prospect needs and offer appropriate solutions. They ensure that all colleagues demonstrate the knowledge and skills to execute on customer needs. Proactively learning about new products, services, technologies, and customer service tactics, and teaching others is an integral part of their role. They also handle complex customer complaints and strive to improve the customer experience by using defined customer experience guidelines.
Partnership activities are another critical area where bank managers lead, coach, evaluate, and impact the overall management of colleague efforts. This involves Banking Center Collaboration, i.e., referrals, and closed business and the activities that support partnerships. They also partner with defined Small Business Bankers to grow business revenue and enhance the business customer experience.
The role of a bank manager is multi-faceted and demands a high level of commitment, leadership skills, and a customer-centric approach. This crucial role ensures the smooth operation of retail banking centers, contributing significantly to their success. For more information, click Here.
