Sales Manager in Banking Service – Fresher/Entry Level

Sales Manager in Banking Service – Fresher/Entry Level

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First list of colleges for National Employability Award 2020
First list of colleges for National Employability Award 2020

A sales manager in a bank is responsible for selling bank products to its retail customers. They can be involved in the selling of Credit Cards, Bancassurance (insurance provided by banks), CASA (Current Account, Savings Account) etc.

Sales Manager in Banking Service
Sales Manager in Banking Service
The Job Role and Responsibilities

The job responsibilities of a Sales Manager in Banking would include:

  1. Selling of banking products to clients. Products might include either CASA, Credit Cards, Mortgage, Loans, Bancassurance or all of these.
  2. Prospecting and identifying new leads and pitching to the clients.
  3. Providing client service to existing customers. They are required to manage all aspects of customer relationships.
  4. Corporate sales to get premium and HNI clients.
  5. Strategizing & implementing ways to achieve sales targets.
Competencies and Skills Required

A Sales Manager is required to interact with customers for the most part of his/her day and so good communication and presentation skills are a prerequisite for the job. The job also requires a good understanding of the bank’s products and services in order to deal with individual customer’s demands and customize the products accordingly. The major skills and competencies that employers look for are:

  1. Excellent communication skills.
  2. Pleasing and positive attitude.
  3. Confidence and Presentation skills.
  4. Analyzing skills.
  5. Good sales and negotiation skills.
Assessment for the ‘Right’ Sales Manager

The following table illustrates how various skills and personality traits map to assessments required for the Relationship Manager role:

Sales Manager ProfileAMCAT Mapping
Communication SkillsEnglish: High
Logical Ability: Mid to High
Agreeableness: Mid to High
Good Sales and Negotiation SkillsEnglish: Mid to High
Extraversion: Mid
Emotional Stability: Mid
Analytical SkillsLogical Ability: Mid to High
Numerical Ability: Mid
Understanding of financial products and marketsBanking Service: Mid to High
Helpful Trivia

Globally, standardized assessments have been used for hiring for Sales Manager in banking services. The scores of these assessments show high ‘validity’ in predicting the success of the candidate as a Sales Manager in banks and financial institutions. The objective criteria consist of assessments in cognitive skills, domain skills and personality inventory. Assessments in domain skills consist of the Banking Service module. Our research shows that logical ability, quantitative ability followed by domain skills shows the strongest correlation to the success of a Sales Manager in Banking Services. Organizational efficiency can be improved by 24% by using objective and criterion-validated benchmarks on standardized assessments.

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