what is a business banking manager?

As a business banking manager, you are a financial institution's department head, managing various organisations' economic functions. You develop the department's sales targets and goals. Since you manage a team of business bankers, you assign duties and ensure each employee performs their duties as expected. You are also in charge of staffing the department and training new business bankers to ensure they understand the company's policies and regulations.

Business banking managers deal with clients directly to resolve complaints and disputes. You also have a client base to manage. Since your clients are large corporate customers, they require someone with extensive knowledge and banking expertise. You advise the clients on their finances and investment portfolios and market new financial products to them.

Since the role involves interacting with customers and employees, you should enjoy working with people to excel. Your people skills help you develop relationships with clients and manage a team of employees. You also require analytical skills to analyse markets and help customers make investment decisions.

As a business banking manager, you handle diverse tasks in financial institutions. While most business banking managers work in banks, you can also work in building societies and credit unions that handle the finances of people from various industries, such as mining, manufacturing or education.

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average business banking manager salary

As a business banking manager, your remuneration package fluctuates based on your experience, qualifications and employer. In Australia, you receive an average salary of $136,500 per year. Entry-level or junior positions have a starting salary of $120,000-130,000 annually, but the amount increases with experience and additional qualifications. The most experienced business banking managers receive over $150,000 yearly.

how to increase your salary as a business banking manager

The salary of a business banking manager depends on various factors. For instance, your educational qualifications and experience influence your earnings. You receive a lower salary when you are new to the role due to your minimal experience. The remuneration package increases when you improve your qualifications and gain new skills.

The location and company you work for also influence your earnings. For instance, in locations with a high demand for business banking managers, financial institutions in the area could pay more. Most metro locations pay higher salaries than the national average due to differences in the cost of living. Working for a large company with unlimited resources also increases your remuneration prospects.

Want to know what you will earn as a business banking manager? Check out what you are worth with our salary checker.

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types of business banking managers

The types of business banking managers depend on the level of seniority. These include:

  • junior business banking managers: as a junior business banking manager, you handle small corporate accounts and manage a smaller group of business bankers. You prepare and assess investment transactions. You also maintain and enhance the credit risk profile and profitability.
  • senior business banking managers: as a senior business banking manager, you supervise the entire department. That means you are in charge of a large team of business bankers. Your job is to ensure the team sources new accounts and develops business relationships with current clients. You are also in charge of the recruitment process to meet the staffing needs of your department.
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working as a business banking manager

If you enjoy interacting with people and working in a banking environment, explore the daily activities, work schedules and duties of business banking managers.

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education and skills

You require the following qualifications to work as a business banking manager:

  • education: to work as a business banking manager, you require a bachelor’s degree to gain management skills. If you don’t qualify for a bachelor’s degree, start with a Certificate IV in business finance or banking services or find a relevant diploma course to gain the fundamental skills necessary for the role.
  • work experience: you require extensive experience as a business banking manager. You can work in entry-level banking jobs before becoming a business banker. Some organisations require up to five years of experience in financial institutions to employ you as a business banking manager.

business banking manager skills and competencies

Some of the skills and qualities of a business banking manager include:

  • maths skills: as a business banking manager, you should understand mathematical principles to help you identify investment opportunities and analyse markets. Your responsibilities involve reviewing bank statements to monitor client accounts and checking the investment portfolios to determine the company's performance. Your maths skills help you calculate and understand the figures in investment portfolios.
  • computer skills: as a business banking manager, you rely on computing skills to perform most of the tasks in the bank. Your computer skills help you perform your duties on the computer software, review client accounts, analyse market movements and organise financial documents.
  • communication skills: as a business banking manager, you require solid communication and active listening skills. Your communication skills help you communicate with clients and colleagues, giving task instructions and training workers. You also make presentations to stakeholders, and communication skills help you create compelling presentations and provide logical advice to clients.
  • analytical skills: as a business banking manager, you analyse investment opportunities the bank can undertake to increase income. Your analytical skills help you identify anomalies and market trends that indicate lucrative investment opportunities.
  • organisation skills: as a business banking manager, you analyse investment opportunities the bank can undertake to increase income. Analytical skills help you identify anomalies and market trends indicating lucrative investment opportunities.
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FAQs about working as a home lending manager

Here, you will find the answers to the most frequently asked questions about the profession of a business banking manager.

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