Choosing the right career is a crucial decision with far-reaching consequences. It shapes your future, making it essential to make an informed choice.

The African Reporter engages with businesspeople, professionals, and other key figures, focusing on a different career each week. Our goal is to provide valuable guidance to younger readers navigating their careers.

Through this, we aim to provide valuable guidance to our younger readers navigating their career choices. This week we give a platform to the universal banker career.

Nontokozo Mthombeni has been a universal banker for the past six years, saying curiosity about how money works, how financial systems operate, and how to help people manage their finances better led her to this career filed.

“Enjoyment of problem-solving, finding the right product or solution for a customer’s need played a role. I love being able to help customers achieve their goals, whether that is opening their first savings account or solving a financial challenge

“I love that this role challenges me to keep learning and developing my skills in sales, customer service, and financial knowledge,” she said.

Her advice to aspiring universal bankers is to build a strong foundation in education and focus on subjects that give you the basics of financial literacy.

“If you have already finished school, short courses in financial management, customer service, or computer literacy can boost your CV,” she added.

What is a universal banker?
A universal banker is a banking professional who is trained to handle many different services instead of focusing on just one role.
Banks adopted this role to improve efficiency, reduce waiting times, and create a more personalised, “one-stop shop” experience for customers.

How does this role differ from a traditional teller or personal banker?

Traditional teller:
• Focus: Cash transaction-driven.
• Duties: Deposits, withdrawals, cheque cashing, money orders.
• Limitations: Usually can’t open new accounts, usually can’t service other products or sell products.

Universal banker:
• Focus: Customer service, sales and relationship-building.
• Duties: Opening new accounts, credit card applications, loans, retirement products, and long-term financial planning.
• Limitations: Typically doesn’t handle day-to-day cash transactions.

What are the main duties and day-to-day responsibilities?
• Customer service and relationship management
• Greet and assist customers in person, via phone, or digitally.
• Understand customer needs and offer suitable banking products/services.
• Resolve customer complaints or issues, ensuring satisfaction.
• Build relationships to encourage customer loyalty and retention.

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Account management and product support:
• Open, close, and manage checking, savings, and other bank accounts.
• Assist with loans, credit cards, lines of credit, and mortgages.
• Provide guidance on bank products.
• Educate customers on online banking, mobile apps, and self-service options.
• Also includes sales and cross-selling, and administrative and compliance duties.

Which high school subjects best prepare students for a career in banking?
• Mathematics: Banking heavily relies on numerical skills for tasks like balancing accounts, calculating interest, analyzing data, and understanding financial statements.

• Economics: Provides a basic understanding of how markets, banks, and financial systems work. It also introduces concepts like supply and demand, inflation, and monetary policy.

•Accounting/finance: Teaches students to track money, read financial statements, and manage budgets – skills directly applicable to banking.

• Business Studies: Offers a broader understanding of business operations, management, and marketing, which helps in advising clients and understanding their financial needs.

• Computer science/technology: Banking relies heavily on digital platforms, software, and data management. Comfort with technology is essential.

• English/communication: Strong communication and writing skills are crucial for customer interactions, explaining financial products, and professional correspondence.

What key skills and personal qualities help someone succeed as a universal banker?
• Customer service skills: Patience, active listening, and a friendly, professional manner.

• Numeracy and accuracy: Comfort with numbers, balancing cash, and catching errors quickly.

• Sales and cross-selling: Ability to identify customer needs and recommend the right products.

• Communication (verbal and written): Explaining products clearly, handling complaints, and writing accurate notes.

• Integrity and trustworthiness: Essential since you handle money and confidential information.

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Are there professional certifications or on-the-job training opportunities that can boost career prospects in banking?
These can boost credibility and open doors to higher roles:

• FAIS Regulatory Exams (RE5/RE1) – Required for anyone giving financial advice under the Financial Advisory and Intermediary Services Act.

• National Certificates in Banking (NQF 4–5) – Short accredited programmes focusing on banking operations.

• Diploma in Banking (NQF 6) – More advanced, suited for supervisory roles.

• South African Institute of Financial Markets (SAIFM) certifications – For those moving into investments, trading, or treasury.

• South African Institute of Bankers (SAIB) – Offers professional membership and industry recognition.

On-the-Job Training and Development:
• Learnerships (12–24 months) – Combine work and study; often lead to permanent roles.

• Graduate programmes (one to two years) – For university graduates, focusing on leadership and specialist tracks.

• Internal training academies – Banks have in-house learning portals covering compliance, sales, digital banking, and leadership.

• Mentorship and rotational programmes – Exposure to multiple departments (retail, business banking, risk, etc.).

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What are the main advantages of working as a universal banker, and what challenges or disadvantages should someone be aware of?

Broad skill development:
• Universal bankers gain experience in multiple banking areas: customer service, teller operations, sales, and basic financial advising.

• This versatility makes them highly marketable for other banking roles or promotions.

Customer interaction:
• If you enjoy helping people, universal bankers interact directly with clients daily, building relationships and trust.

• You can see the immediate impact of your work, whether solving a problem or helping someone access the right financial product.

Career advancement opportunities:
• Many banks use the universal banker role as a stepping stone to positions like personal banker, loan officer, branch manager, or financial advisor.

• The role provides a well-rounded foundation for upward mobility within the banking industry.

Exposure to financial products:
• You gain knowledge of checking/savings accounts, loans, credit cards, digital banking tools, and investment basics.

• This expertise is valuable both professionally and personally.

Job stability:
• Banking is generally a stable industry, and universal bankers are in demand for their versatility.

• Benefits often include health insurance, retirement plans, and paid time off.

Disadvantages:
High responsibility and accuracy requirements:
• Handling cash, sensitive financial information, and compliance tasks requires precision.
• Mistakes can have serious consequences for the bank and customers.
• Repetitive or stressful transactions. While the role is varied, universal bankers often handle repetitive tasks like deposits, withdrawals, and balance inquiries.

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What opportunities for career growth or specialisation exist after starting as a universal banker?
Personal banker / relationship banker:
• Role: Assist clients with more complex financial needs, such as loans, mortgages, investments, and financial planning.
• Why universal banker experience helps: Already built customer relationships and understand banking products, making the transition smoother.
Branch manager / assistant branch manager:
• Role: Oversee daily branch operations, staff performance, customer satisfaction, and sales goals.
• Why universal banker experience helps: Understand both operational and sales sides of branch banking, making them well-prepared for leadership.

Where can universal bankers find employment, and which sectors or organisations typically hire them?
• Traditional banks

• Major banks in South Africa often employ universal bankers to handle a range of customer-facing roles. These positions typically involve managing daily transactions, assisting with account services, and cross-selling banking products.

• Credit unions and mutual banks: These member-owned institutions often seek universal bankers to serve their communities with personalised banking services, including savings accounts, loans, and financial advice.

• Fintech companies: With the rise of digital banking, fintech companies are increasingly hiring universal bankers to manage customer relationships and support digital banking platforms.

• Retailers offering financial services: Some large retail chains have expanded into financial services, employing universal bankers to manage in-store banking services.

• Insurance companies: Insurance firms often require universal bankers to assist clients with policy-related financial services, such as premium payments and policy loans.