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Banker Duties

by Alejandro Russell

A banker is a banking expert who gives clients financial advice on matters relating to loans, investments, securities and savings. Their financial advice not only helps clients to solve financial needs, but also increases their firm’s profits. A number of bankers work in local financial institutions, while others work for international conglomerates and perform various duties and tasks.

Keep Records

Bankers record all the daily financial transactions they conduct. This duty involves reviewing documents, such as bank statements and loan application forms, every day. In doing so, bankers can alert the necessary authorities if they notice any fraudulent activities taking place in the bank. The banker is also responsible for properly filing all these documents in the right place. Proper documentation facilitates smooth management of the bank and makes retrieval easier. Bankers must also keep these records in a safe place to protect the confidentiality of the information.

Advise Clients

One of the primary duties of a banker is to help clients fulfill their financial needs. They do so by answering the financial questions asked by clients either during face-to-face meetings or phone conversations. A banker will also review a client's financial situation and offer the best banking services and programs to aide the clients in achieving their monetary goals. The expertise of a banker is measured by the success of the financial advice he gives to clients. Good advice helps in building a large client base, which improves the profitability of the financial institution.

Gather Financial Information

Another integral duty performed by a banker is gathering pertinent financial information from both new and existing clients. After speaking with clients about their financial needs, a banker uses the information gathered to prepare accounts and loans. A banker reviews the financial history of the client to determine their creditworthiness. The banker uses this information to determine whether the financial institution will be able to meet the client’s financial needs; this duty of gathering information helps the financial institution to make informed decisions that improves its profit margin. For example, the bank uses this information to give loans to creditworthy people who have comparatively lower chances of defaulting.

Disburse Funds

People visit banks to withdraw and deposit funds, or to apply for loans from the financial institution. Accepting deposits and disbursing funds requires a lot of attention and accuracy. Bankers may use money counting machines to carry out this task. This makes work easier, eliminates human error, improves accuracy and increases the speed of dispensing and counting bills.

Enforcing Security

Financial institutions can make massive loss through accepting counterfeit bills. Bankers pass the bills deposited by customers through the counterfeit money detectors to prevent any fake bills from hitting the cash till. With the rising cases of fraud, bankers are also on the lookout for counterfeit checks that customers may attempt to cash. The banker's duty is to ask clients withdrawing money to verify their identity to prevent fraudulent activity. A banker also locks the bank vault protecting valuables, money, documents and records from unauthorized access, theft and damage by fire or natural disasters.

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