6 Roles That Make Relationship Managers Indispensable

It is no secret that banks compete with each other. Customers are always one new scheme away from switching banks. Leading banks often try to entice new account holders by offering a range of benefits. It’s a tough market to retain your client base and ensure loyalty.

That’s why banks rely on relationship managers so much. They act as a link between customers and the bank. A competent manager maintains a close relationship with a client, ensuring loyalty and longevity. However, a good relationship manager has the skills to retain the client. He attends to the customer’s financial needs, offers customised services and ensures the bank doesn’t lose the account.

That’s not all they do, though. Relationship managers have a list of responsibilities they need to attend to. Let’s find out more about them.

What are the roles and responsibilities of a relationship manager?

  1. Managing long-term relationships with clients 

This is one of the most important roles and responsibilities of a relationship manager. It is the primary reason this position exists. Banks want a friendly, approachable face to represent their brand. They require a manager who can inspire trust and loyalty. To build long-term relationships with the customer, you need to:

    • Have constant communication and regular updates with the customer
    • Immediately address any concerns or problems that may arise
    • Actively listen to what the customer wants and create a customised plan
    • Be friendly and approachable to the client
  1. Building relationships with new clients 

If the bank is to expand and grow, it depends on you to bring in new customers. Your job is to identify potential candidates who are likely to open an account with your financial institution. Relationship managers can use CRM tools to find new customers. They can also use emails, flyers, social media and other methods to contact and attract people to the bank. This is one of the most essential roles and responsibilities of the relationship manager and will help you reach your sales targets.

  1. Working with other departments in the bank to sort out any customer issues.

Clients may have some difficulties with their financial products or services from time to time. As the face of the bank, they will come to you for a quick resolution. It is one of the roles and responsibilities of the relationship manager to help them. You will need to be in contact with the concerned departments. Together, you can sort out the issues and work towards a quick solution with minimum downtime.

Also Read – Decoding the Myths – Is Relationship Management right for You?

  1. Learning about new financial products and services

One of the primary roles and responsibilities of a relationship manager is to keep track of the latest financial products of the bank. It’s not enough to be proficient in the current products and services. You will have to update your knowledge as and when new products are introduced. You will also have to keep an eye on the competition’s products, financial markets and emerging trends.

  1. Identifying new opportunities for growth 

Relationship managers can use data analytics and CRM tools to identify and analyse business trends or strategies that boost profits. They also examine new market products and investment prospects to create a customised plan for their customers. This is one of the most innovative roles and responsibilities of a relationship manager.

  1. Meeting sales targets 

If you are planning on being a successful relationship manager, well, you need to meet your targets on time. The points listed above play a big role in helping you hit your targets (and maybe even exceed them). As long as you manage your clients well, bring new customers into the fold and stay updated with all the latest financial developments, you are sure to stay on track.

Also Read – A Day in the Life of a Relationship Manager

What skills are needed for the roles and responsibilities of a relationship manager? 

It takes quite a skillset to be an effective relationship manager. Take a look at the list below to understand the abilities required.

  1. Good communication and presentation skills

Any sales or customer job requires sharp, fluent and persuasive communication. As a relationship manager, you need to take those skills up a notch. You have to present yourself as professional and informative yet friendly and approachable.

  1. Analytical and critical thinking

Your customers will have specific requirements, concerns and issues. You will be required to use your analytical skills to examine all the possibliities and find the appropriate options for them.

  1. Knowledge of financial products and concepts

This is a no-brainer. If you work in relationship management, you better know your products well. You also need to check out what the competition is doing, how the markets are faring and how you can provide the best service for your customers.

  1. Mathematical skills

Since you are dealing with financial products, bank accounts and other banking services, you will have to carry out some calculations. A decent knowledge of maths is a requirement.

Also Read – 9 Must-Have Next-Level Skills for Relationship Managers

Learn about the roles and responsibilities of a relationship manager with Proschool

If you want to be a relationship manager, there are many advantages to learning with Proschool. As one of India’s best coaching institutes, Proschool offers some of the best finance qualifications in the world. The CFA and CFP are two of the most coveted credentials in the banking industry. While the financial modelling and investment banking certificates can help you learn the core concepts, real-world training and important skills needed in this field.

At Proschool, you can take one or more of these courses, thereby empowering your resume. The programs are taught by some of the most experienced finance experts, who are known for their expertise in the subjects. Students get a well-rounded learning experience through active methods, innovative skill development and practical training. The coaching in each course helps you grasp the tools you need to learn the roles and responsibilities of a relationship manager.

About Proschool’s courses:


One of the most globally recognised finance courses, the CFA program helps students master crucial topics, concepts and skills needed to work in the banking industry.

Financial modelling 

All financial companies and banks use financial modelling, a spreadsheet-based system for documenting, summarising and analysing data.

Investment banking PG certificate 

This course helps students grasp the various components of the finance industry, enabling them to handle real-world scenarios and responsibilities.


Financial planning is a significant aspect of relationship management, and this world-renowned program helps students master the knowledge and skills.

Why Proschool is unique:

  • Proschool’s coaching centres are located in pan-India, ensuring that most students have access to classes in cities.
  • Those who cannot attend classes at the centres can choose to learn through virtual sessions.
  • Proschool’s teaching goes beyond the official textbooks, as they help student sharpen their learning through mock tests, practice papers, videos and prep books.
  • Certified students can apply for jobs through Proschool’s placement program.
  • Additional training support is given during the recruitment process to help you ace the interview rounds.


  • How do I become a relationship manager?

These are the educational qualifications needed:

    • BBA or MBA in finance
    • CFA
    • CFP
    • Investment banking PG certificate
    • Financial modelling
  • What skills are required to be a relationship manager?

You need a combination of technical and soft skills to succeed in this job. Relationship managers require industry-centric knowledge and financial expertise. It also helps if you are an expert in financial modelling, have good mathematic skills and have a keen, analytical mind. As this is also a sales job, you should have clear and fluent communication skills along with an amiable personality, strong negotiation tactics and a drive to achieve your sales targets.

  • How do I prepare for an interview as a relationship manager?

Before you meet with the recruiting professional, ensure you have researched the company thoroughly. You should be well aware of the bank’s background, clients, vision and various financial products. It also helps to be up-to-date on the latest developments in the business and finance world.

You should also work on your communication and presentation skills. Since you will be in regular contact with customers, the bank will need to see if you can present yourself in a professional, yet pleasant manner. Be confident, but not arrogant.

  • Is being a relationship manager a stressful job?

Most finance jobs are complex and challenging. Relationship manager roles are no different. While the job profile will have some stress points, qualified professionals will be trained to take on various roles and responsibilities of a relationship manager and be equipped to do the work.

  • Is relationship manager a good position?

In most cases, the post of a relationship manager is a very respectable, entry-level job. There are a lot of opportunities to learn new skills, network with people and grow as a finance professional. Over time, you rise to higher positions, earn larger salaries and receive more responsibilities.

  • What are the best places to work in as a relationship manager?

Most recruitment sites rate organisations like ICICI, HDFC, Bandhan Bank, Axis, Kotak Mahindra and IDFC First Bank as some of the best banks to work in as a relationship manager.


The role of a relationship manager is a stepping stone for a lucrative and challenging career in finance. In this role, you learn a lot about interacting with customers, solving problems, developing financial products and making sales targets. The roles and responsibilities of a relationship manager are multi-faceted and will help you climb up the corporate hierarchy and land leadership positions.