Relationship Manager in Banking and HDFC relationship management
Why and How You Can Apply for the Banking Relationship Manager at HDFC Bank?
A Relationship Manager in Banking is in charge of managing the business banking relationships, the pre-existing ones and the new ones. They are in charge of a group of medium-sized businesses. As a Relationship Manager in Business Banking, your main job is to look for ways to cross-sell and point clients toward services and goods that will meet their needs and bring in new customers. The individual needs at least a four-year college degree. In most businesses, Relationship management answers to a higher level of management or the head of a department. The Business Banking Relationship Manager is given chances to learn about and try out more difficult parts of their job.
In the below parts, we will discover all the aspects of the job, from knowing about the bank to the benefits of opting for this specific one to even the requirements for applying. Friends and freshers, this is your chance to get all the information before being ready for the job.
The opportunity of Banking Relationship Manager at HDFC Bank
If you want a job with more options, choosing HDFC will give you a grand chance. You can try out a lot of different career paths here. The bank can help you reach your goals by opening many doors, giving you support, and bestowing awards as and when you achieve certain milestone. This is true whether you want to be the best in banking field or just try something new.
Small and medium-sized businesses (SMEs) can get a lot of help and tools through the business Banking service. In Business Banking, Relationship Managers and Product Specialists offer full services to help businesses of all kinds meet their goals. These choices can help a business do a lot of different things, like handle its cash and trade flows and grow into new areas.
For the role of Relationship Manager in Banking on the team, the bank needs an expert with a lot of skills.
Now we will discuss about the Job purpose. But before that, let’s have a look at the bank and its years of excellence.
About HDFC Bank
HDFC Bank is one of the largest financial institutions in India. It offers a wide range of banking goods and services through its many branches and other channels. There are a lot of different ways to bank in India, like in real places, ATMs, phone banking, online banking, and mobile banking. The bank has made a name for itself in a very short amount of time in its three main areas of business: retail banking, trade banking, and financial activities. As of the end of February 2016, it was the most expensive bank in India based on its market value.
The Bank Accolades
On its way to World Class rank, the bank has won a number of awards. In 2016, KPMG did a poll of India’s best banks and named them Bank of the Year and the winner of the Best Digital Banking Initiative Award. Business Today called them one of the Best Places to Work, and the Indian Banks’ Association gave them four awards. The company was also named one of the Best Places to Work by Business Today. By 2015, the Bank had been on Forbes Asia’s Fab 50 list for an amazing nine years in a row. In 2015, FinanceAsia did a study and said that the Bank was the best-run business in India. People who took the poll also chose Mr. Aditya Puri as the best CEO.
The Pioneering Works by the Bank
Since 2007, the HDFC Bank has put on a blood donation camp every year. With 61,902 donors in 2013, it was known as the world’s biggest event of its kind. In 2014, there were 1,555,599 donors at 913 places.
The bank is leading the way in opening doors to fast loans through the use of innovative technologies such as big data and fingerprints. In 2014, the bank took a big step forward by introducing the Go Digital Initiative. This initiative made it possible for customers to access over 75 banking services on their phones using technology. The PayZapp payment and e-commerce ecosystem app achieved one million downloads in its first year. This is, no doubt, a great accomplishment. The Bank launched the Digital Innovation Summit in 2016. It had the aim of exploring the potential of financial technology ventures. The goal of the bank is to provide users with an exceptional service. So, as you can understand, working in this bank is a fantastic experience, and we are confident that you will become even more interested once you have a complete understanding of the application.
Discover the Job Purpose
To give excellent service to customers, RMs must find new asset connections through a variety of channels, manage a portfolio of 30–40 BBG relationships (depending on the territory covered and the branches mapped to the RM), and keep up with HDFC relationship management for potential clients.
Job Responsibilities for you
- To meet the bank’s sales and profit goals for its clients each year.
- Maintain regular touch with regional offices to share lead creation progress, make sure that conversions are promised, and stick to all steps of the lead conversion process, all for the benefit of the bank.
- Working with the branch banking team, doing market research, finding prospects, calculating wallet share for all bank users, getting products into the market, and setting goals for different projects.
- RMs must follow the standard sales process, which includes keeping up with the many calls they make to new and existing clients. These talks can happen anywhere, at any time, and with anyone, like one-on-one, in groups, at the branch level, or with managers.
- After these talks, it is important to update the customer relationship management systems so that other departments can be given tasks and leads and future advice and account tracking can be done.
- The relationship manager is responsible for increasing product penetration by holding monthly talks with the different product groups and supervisors who work on the manager’s portfolio (plan vs. success).
- He has to keep a good return on capital at the level of the manager’s portfolio, and the bank’s yield needs to be raised.
- Consumer approvals are needed both before and after payment, such as for document collection, legal and TSR, value, etc., and for closing a delay.
- Helping people buy and sell TPP, other asset items, and company pay accounts within the current Relationships and its protected group accounts.
- Getting the most out of the resources by raising both the IPH and the CTG.
Customer relationship management
- Building and keeping relationships with RM’s partners and users both inside and outside the company. The most important thing is to make sure that the customer is happy and that all of their business needs are met.
- Creating a customer profile, which includes finding cross-selling and other ways to make more money
- CAM Preparing and responding to questions.
- Price and other fees are talked about with the client.
- Check requests, questions about banking, giving out chequebooks, problems with deposits and withdrawals, proving that a business is a solvent, foreign trade, currency exchange, and other similar tasks are just some of the customer service tasks that need to be done every day.
- Making sure that clients are happy.
- Working with a number of groups inside and outside of the company
- Payments, setting the TOD limit, and filing stock statements must all be made in coordination with area offices. Credit needs to arrange CAM clearance, delay waivers or extensions, and other customer requests, such as buyers’ credit and TODs.
- Coordination between the trading desk and the customer to make it easier to issue letters of credit and bank guarantees and collect funds for import and export, BG call, LC payment E-Net, CMS, and cross-selling of other goods in the same group.
Health and Portfolio
- A portfolio review and management of remedial steps may include the recovery and reworking of exposures and the management of exits and line reductions. Scenario management and account management can be very stressful.
- All housekeeping issues are taken care of at the client’s pleasure. This includes but is not limited to CAM renewals, closing deferrals, Call memos, stock statements, insurance renewals, Plant visits, Site inspections, etc.
- Keeping an eye on things and making sure that TODs are all the same.
- A lot of tracking and reporting on critical financial transactions.
Requirement for Skill and Qualification
- Certified Public Accountant or Master’s in Finance.
- Balance sheets and income records should be well understood.
- Proven ability to handle relationships
- Sell something and make an impression.
- Able to do in-depth study; good with people
- Good at bargaining
- He knows a lot about banking
- Knowledge of the world of small and medium-sized businesses (SMB)
Why It’s Good to Work for HDFC Bank
The business philosophy of HDFC is based on five core ideas: operational success, customer focus, product leadership, people, and sustainability. They think that the high quality of their workers and the hard work of the team will define the bank and its success in the long run. Because of this, they have made it a top priority to find, train, motivate, and keep the best minds in the business.
They Are the Best Team
HDFC Bank is a vibrant bank that is governed by a similarly young and active leadership team. The bank is motivated to achieve the company’s aim of becoming an exceptional Indian bank. Both the leadership team and the leadership team of HDFC Bank are active and young. Surely it will be a great career advantage for you if you decide to join this position of HDFC relationship management. Also, keep in mind that the competition is high, so you really need to be ready in every respect.
1. Is the role of relationship manager a desirable one?
Ans. Relationship managers are a must for every business that places a premium on its clientele and strives to meet their needs in every way possible. Therefore, he needs the requisite skills and expertise to carry out his duties effectively in his position.
2. In a financial institution, what exactly is the function of a Relationship Manager?
Ans. A bank’s relationship manager is in charge of helping customers with their long-term financial and investment strategies. Customers may get financial assistance in the form of cash and expert guidance to help them reach their goals.
3. At HDFC Bank, what responsibilities do Relationship Managers have?
Ans. Product Penetration involves gaining an understanding of a customer’s company profile or requirements and meeting those requirements via the provision of goods or services. Examples of such goods and services include trade financing or foreign exchange, cash management services, point-of-sale machines or payment gateway solutions, loans, doorstep banking, life or general insurance, and so on.
4. What kind of salary can one expect to get working as a Relationship Manager at HDFC?
Ans. Current Account Relationship Managers at HDFC Bank may earn a salary of up to Rs. 12,35,796 per year.
5. Is it a decent job to be an HDFC Relationship Manager?
Ans. Based on 762 anonymous reviews from HDFC Bank’s Relationship Manager staff, the company’s compensation and benefits are rated an average of 3.55 out of 5 stars. In terms of pay and benefits, this score is 2.9% greater than the company norm. Learn about HDFC Bank’s Relationship Manager benefits and salary range.
6. Is a career in sales involved in managing relationships?
Ans. A relationship manager is a member of a sales team whose job it is to build and nurture relationships with clients and customers. Some relationship managers are devoted completely to assisting their clientele, whether they have a business or technical issue.
7. Is the position of relationship manager an anxious one?
Ans. It’s possible that a relationship manager’s job is particularly demanding because of the constant push to boost sales. A relationship manager must be able to adapt to new situations quickly in order to succeed. One needs strong verbal and nonverbal communication abilities to effectively present oneself favourably, interact with others, and provide services.