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Occupation Information

Sales Agents, Financial Services
SOC Code: 41-3031.02

Sell financial services, such as loan, tax, and securities counseling to customers of financial institutions and business establishments.

Sample of reported job titles: Client Manager, Financial Consultant, Financial Services Representative, Financial Specialist, Investment Officer, Personal Banker, Registered Representative, Relationship Banker, Relationship Manager, Select Banker

Tasks

  • Determine customers' financial services needs and prepare proposals to sell services that address these needs.
  • Prepare forms or agreements to complete sales.
  • Sell services or equipment, such as trusts, investments, or check processing services.
  • Contact prospective customers to present information and explain available services.
  • Develop prospects from current commercial customers, referral leads, or sales or trade meetings.
  • Evaluate costs and revenue of agreements to determine continued profitability.
  • Review business trends to advise customers regarding expected fluctuations.
  • Make presentations on financial services to groups to attract new clients.

Technology Skills

  • Accounting software - Fund accounting software ; Sage 50 Accounting
  • Business intelligence and data analysis software - IBM Cognos Impromptu
  • Calendar and scheduling software - Scheduling software
  • Customer relationship management CRM software - Salesforce software
  • Data base user interface and query software - Data entry software ; FileMaker Pro; Microsoft Access ; Web-based information systems (see all 5 examples)
  • Electronic mail software - Email software; IBM Notes ; Microsoft Outlook
  • Enterprise resource planning ERP software - Microsoft Dynamics GP ; Oracle Hyperion ; Oracle PeopleSoft ; Oracle PeopleSoft Financials
  • Financial analysis software - Bloomberg Professional; Oracle E-Business Suite Financials ; Realm Business Solutions INSIGHT for ARGUS; Sales analysis software (see all 5 examples)
  • Internet browser software - Web browser software
  • Office suite software - Microsoft Office
  • Presentation software - Microsoft PowerPoint
  • Project management software - Microsoft SharePoint
  • Spreadsheet software - Microsoft Excel
  • Web page creation and editing software - LinkedIn
  • Word processing software - Microsoft Word

Tools Used

  • Desktop calculator - 10-key calculators
  • Desktop computers
  • Notebook computers
  • Personal computers

Knowledge

  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Sales and Marketing - Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
  • Clerical - Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
  • Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.

Skills

  • Persuasion - Persuading others to change their minds or behavior.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Speaking - Talking to others to convey information effectively.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Social Perceptiveness - Being aware of others' reactions and understanding why they react as they do.
  • Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
  • Service Orientation - Actively looking for ways to help people.
  • Active Learning - Understanding the implications of new information for both current and future problem-solving and decision-making.
  • Complex Problem Solving - Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
  • Negotiation - Bringing others together and trying to reconcile differences.
  • Instructing - Teaching others how to do something.
  • Mathematics - Using mathematics to solve problems.
  • Monitoring - Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
  • Systems Analysis - Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
  • Time Management - Managing one's own time and the time of others.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities

  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
  • Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
  • Speech Clarity - The ability to speak clearly so others can understand you.
  • Speech Recognition - The ability to identify and understand the speech of another person.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Near Vision - The ability to see details at close range (within a few feet of the observer).
  • Information Ordering - The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
  • Category Flexibility - The ability to generate or use different sets of rules for combining or grouping things in different ways.
  • Fluency of Ideas - The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
  • Mathematical Reasoning - The ability to choose the right mathematical methods or formulas to solve a problem.

Interests

  • Interest code: EC
    • Enterprising - Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
    • Conventional - Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.

Work Context

  • Telephone - 94% responded “Every day.”
  • Contact With Others - 89% responded “Constant contact with others.”
  • Importance of Being Exact or Accurate - 83% responded “Extremely important.”
  • Electronic Mail - 83% responded “Every day.”
  • Face-to-Face Discussions
  • Indoors, Environmentally Controlled - 91% responded “Every day.”
  • Deal With External Customers - 57% responded “Extremely important.”
  • Structured versus Unstructured Work
  • Freedom to Make Decisions - 62% responded “A lot of freedom.”
  • Frequency of Decision Making - 70% responded “Every day.”
  • Level of Competition - 48% responded “Extremely competitive.”
  • Spend Time Sitting - 62% responded “Continually or almost continually.”
  • Work With Work Group or Team - 39% responded “Very important.”
  • Impact of Decisions on Co-workers or Company Results - 52% responded “Very important results.”
  • Time Pressure - 51% responded “Once a week or more but not every day.”
  • Coordinate or Lead Others - 54% responded “Very important.”
  • Letters and Memos - 36% responded “Every day.”
  • Importance of Repeating Same Tasks - 44% responded “Very important.”
  • Duration of Typical Work Week - 45% responded “More than 40 hours.”
  • Consequence of Error - 28% responded “Extremely serious.”
  • Deal With Unpleasant or Angry People - 36% responded “Once a month or more but not every week.”

Education

Percentage of RespondentsEducation Level Required
62%High school diploma or equivalent
22%Bachelor's degree
8%Some college, no degree

Work Styles

  • Integrity - Job requires being honest and ethical.
  • Dependability - Job requires being reliable, responsible, and dependable, and fulfilling obligations.
  • Attention to Detail - Job requires being careful about detail and thorough in completing work tasks.
  • Cooperation - Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
  • Self Control - Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
  • Stress Tolerance - Job requires accepting criticism and dealing calmly and effectively with high stress situations.
  • Achievement/Effort - Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
  • Independence - Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
  • Initiative - Job requires a willingness to take on responsibilities and challenges.
  • Persistence - Job requires persistence in the face of obstacles.
  • Analytical Thinking - Job requires analyzing information and using logic to address work-related issues and problems.
  • Adaptability/Flexibility - Job requires being open to change (positive or negative) and to considerable variety in the workplace.
  • Concern for Others - Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
  • Social Orientation - Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
  • Leadership - Job requires a willingness to lead, take charge, and offer opinions and direction.
  • Innovation - Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.

Work Values

  • Working Conditions - Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
  • Achievement - Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
  • Relationships - Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.

Wages & Trends

  • Median wages (2017)
    • $30.66 hourly, $63,780 annual
  • Employment (2016)
    • 376,000 employees
  • Projected growth (2016-2026)
    • Average (5% to 9%)
  • Projected job openings (2016-2026)
    • 38,000

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