Financial Customer Service

Job Description

If you decide to go down the financial customer service route in terms of your career, expect to be working for online and high street banks or other institutions such as investment, insurance and credit companies. In this role you are required to provide answers to the financial queries of customers via email and phone. If you like helping people and wish to get your foot in the door of the finance world, read on for detailed Financial Customer Service job description.

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What Will I Be Doing?

This depends on the role but it usually involves assisting customers with queries or offering deals on financial products such as pensions, loans, mortgages, tax, investments and insurance. Other possible duties include:

• Processing the payments and withdrawals of customers.
• Ensuring customer queries are answered to their satisfaction.
• Using computerised systems to access the details of customers.
• Promoting certain financial products and services.
• Handling customer complaints or handing them over to a supervisor.
• Referring customers to individuals qualified to offer and sell regulated financial products.

In simple terms, your job is to make sure the customers are happy and that they continue doing business with your employer.

What Else Do I Need To Know?

If you work for a contact centre, you will probably have to work shifts as these centres are open 6-7 days a week and often remain open until late in the evening. There are also a number of contract and part-time roles available. In a call centre you will have a work station which includes a computer and headset and is part of a large open plan office.

View more Customer Service Job Descriptions

What Are The Different Financial Customer Service Roles Available?

• Customer Service Representative: In this role you are responsible for handling customer complaints, providing information about products and services, referring customers to supervisors when necessary and reviewing/making changes to the accounts of customers.
• Customer Service Advisor: If you choose this career path you can expect to work in a High Street or online bank. Duties include dealing with online, email and telephone queries, promoting your employer’s products and processing withdrawals & payments.
• Customer Service Manager: The main purpose of this role is to lead, motivate and manage a team of advisors. Duties include investigating and solving customer problems, issuing refunds/compensation when necessary, writing reports analysing the level of customer service your team is providing and assisting with the recruitment and training of new staff.
• Customer Collections & Loans Agent: This is a job for someone who likes to travel and remain active. High street banks need agents to visit new and existing customers in their homes to arrange loans and help them manage repayments.

Financial Customer Service Salary

• Customer Service Representative: You are likely to earn in the €20,000-€30,000 per year range outside of Dublin and €25,000-€35,000 per annum in the capital.
• Customer Service Advisor: The standard salary for this position is €20,000-€30,000 per annum.
• Customer Service Manager: You may earn in the €30,000-€40,000 per annum range but this could rise significantly with experience and if you are working for a major bank, an annual salary of €40,000-€55,000 is usually near the top end of the pay scale.
• Customer Collections & Loans Agent: This is generally a self-employed role although you will be selling a specific financial institution’s loans. The typical annual salary in this role is around €20,000-€30,000 but there are also bonuses for successfully selling loans

What Are The Plus Points?

The financial service industry has dozens of career options at a professional and technical level. Certain roles within the industry, such as Sales Representative, can be attained without third level education. It is entirely possible to begin at the bottom of the ladder and work your way into a high ranking position over time.

What Are The Downsides?

There will always be irate customers who test your patience; even one of these calls can be extremely draining so imagine how you will feel if you get several in a row! If you work in a call centre you will have to work unsociable hours such as evenings and weekends on occasion.

What Education/Qualifications Do I Need?

If you work as a financial service customer advisor, training will normally be provided on-the-job and include:

• Company Procedures.
• Regulatory Guidelines (For Advising Customers & Selling Products).
• Product Knowledge.
• Customer Service & Telephone Skills.

You can also look to gain additional qualifications such as the Level 2 and Level 3 Certificates in Providing Financial Services which are available from City & Guilds. If you wish to go further in your career, it is worth considering higher qualifications such as the Professional Diploma in Financial Advice (QFA) available from The Institute of Banking.

Those looking to branch out and become a financial advisor will ideally have a Bachelor’s Degree in Business Management, Accountancy or Finance/Financial Studies.

Am I A Good Candidate?

In order to be a success in the financial customer service field, you need the following traits:

• Outstanding communication & listening skills.
• Excellent customer service skills.
• The integrity to respect private and confidential information.
• The ability to work to targets and deadlines.
• The capacity to work well in a high pressure work environment.
• Attention to detail.
• A professional phone manner.
• High quality computer and maths skills.

If you liked the information provided in this Financial Customer Service job description from the duties to salary to progression opportunities, then a career in Financial Customer Service might be right for you.

Find other similar Financial Customer service Jobs:

• Financial Services Jobs

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• Set up a Financial Customer Service Job Alert

IrishJobs Team
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