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Job Description And Average Salary Of Retail Banker In Nigeria

Job Description And Average Salary Of Retail Banker In Nigeria

Retail banking job is a very important one in the banking sector. For those who wish to start a career in retail banking, this article is for you as we will be shedding more light on the job description and average salary of a retail banker in Nigeria. 

Who Is A Retail Banker?

Retail bankers help customers and offer guidance on financial services while working for financial institutions. They reply to complaints, offer advice, aid with account openings, and explain new products to customers.

Qualities Of A Good Retail Banker

As a good retail banker, you must have the following qualities as they will make you stand out. 

Strong Organizational Ability: Professionals in the banking industry are under a lot of pressure and have a lot of duties, therefore they need to be organized. As a result, they must simultaneously pay attention to details and manage various tasks well. 

Maintaining and managing vital records and documents is very important for the organization and is made possible by having good organizational abilities.

You must be a natural problem solver: An individual with a natural ability to solve difficulties is a good fit for the position. 

A candidate should identify answers and open doors for new chances regardless of the circumstance and flaws. 

Learn to solve problems; this will be useful in both your personal and professional lives.

Strong Mathematical & Analytical Ability: For the growth of the bank and company, logical problem-solving and analysis are essential job requirements. In the financial industry, forecasting market trends and event-based volatility are prevalent. 

Analytical abilities and keeping a close eye on such situations will undoubtedly aid the organization’s development. 

Unsurprisingly, this is one of the skills that candidates for bank exams must possess to solve problems involving numeric ability. It is necessary to have a certain foundation in mathematics and analytical skills, even if one does not naturally have a knack for numbers.

Job Brief Of A Retail Banking Job

Retail bankers are being hired mostly by commercial banks to 

help clients and give them financial advice.

As a retail banker, your bank will rely on you to deliver top-notch customer service because you will be the face of the bank.

To effectively serve a range of consumers in this position, you must have excellent communication skills. For this role, having patience and excellent people skills are essential. Also, analytic and problem-solving skills are critical for this role.

Job Description Of A Retail Banker

  • Open and close checking and savings accounts
  • Advise customers on financial services (e.g. lines of credit and mortgages)
  • Cross-sell products and services
  • Approach and sign on new customers
  • Collaborate with other professionals to ensure high-quality customer service
  • Perform various clerical tasks (e.g. filing)
  • Handle customer complaints and solve problems
  • Assisting with deposit and savings accounts
  • Counseling customers on banking products and services
  • Generating new business by selling to prospective and existing clients

Requirements And Skills For A Retail Banking Job

  • Proven experience as a retail banker or similar role; sales or customer service experience is a plus
  • Knowledge of retail banking rules and procedures
  • Working knowledge of banking software and MS Office
  • Patience and problem-solving ability
  • Customer-oriented attitude
  • Outstanding communication skills
  • BSc/BA in Accounting, Business Administration, or related field

Average Salary Of A Retail Banking Job In Nigeria

Based on salary estimates from 10 retail bankers in Nigeria, the average salary of a retail banking job in Nigeria is 188,000 Naira. 

Entry-level retail bankers earn around 125,000 Naira while mid-level retail bankers earn up to 224,000 Naira. However, a senior-level retail banker can earn as much as 320,000 Naira monthly.

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