How to Write a Compelling Banking Cover Letter

Jobs at a bank involve a wide variety of responsibilities. Some common banking job duties include:

• Personal Banking
  • Handle daily transactions, account openings, and deposits for individuals at a branch. 
• Commercial Banking
  • Provide loan, foreign exchange, and treasury services for individuals or business clients. 
• Corporate Banking
  • Overlaps commercial banking services to serve SMEs and corporations. Services also include cash management and equipment and trade financing. 

When you are applying for a banking job, make sure you know the specific duties and responsibilities of your desired position. 

This is especially important when you write a cover letter for any banking job. A good banking job cover letter highlights strengths and achievements that relate to the job role. Besides adding context to your resume, a well-written banking cover letter can showcase your communication skills. 

Read on for a banking cover letter sample, sample paragraphs for a good banking cover letter, and tips on writing cover letters for banks.

Choose your tone of voice for your banking cover letter by understanding the type of banking job you desire. A personal banking cover letter might emphasize branch management, while a commercial banking cover letter might focus on entrepreneurial expertise for the job. 

Note that some banking jobs overlap in tasks or client types. Planning your future objectives will help you determine what skills to focus on for your banking cover letter.

Below are descriptions of different banking jobs to ease the process of writing a cover letter:

• Bank Teller: 
  • Helps customers with basic banking needs and updates transaction records.
• Banker: 
  • Addresses account inquiries, recommends financial plans, and explains agreement policies. 
• Financial Advisor: 
  • Introduces account options or strategizes business plans according to customer needs and budgeting concerns.
• Mortgage Consultant: 
  • Contacts lenders to recommend mortgage plans to individuals/businesses. 
• Credit Analyst: 
  • Determines the probability that an individual can repay loans by reviewing credit checks and payment records.
• Relationship Manager:
  • Builds relationships between business clients and the financial institution by spotting upselling or cross-selling opportunities.
• Loan Officer:
  • Offers and explains different loan options to borrowers.
• Loan Processor:
  • Prepares loan applications and determines the likelihood of mortgage payment completion by gathering information on credit scores, assets, and tax files.
• Underwriter:
  • Approves or denies loan applications by checking if the client’s finances align with loan/mortgage requirements. 
• Asset Manager:
  • Increases business growth by advising stock or investment plans to clients.
• Investment Representative:
  • Sells industry-updated investment products to clients and manages the trading of funds, stocks, bonds, etc.
• Investment Banking Analyst:
  • Researches varying industries to create models and presentations for senior investment bankers.
• Investment Banker:
  • Identifies profit opportunities by managing large-scale M&A transactions, transitions and risks.  
• Financial Analyst:
  • Draws findings from data and identifies economic trends to inform the next steps for a company. 
• Internal Auditor:
  • Ensures the employer company follows federal regulations by identifying problematic financial reporting and mismatched data. 

The following is a sample cover letter for a personal banking job. This banking cover letter focuses on expanding reach on a personal banking level at a branch as a Financial Advisor.

A banking cover letter should show the recruiter your interests and skills, both technical and transferable, for the job in one page. Although the content of each cover letter for banking jobs should be specifically tailored, most of them follow the format below:

✅ Format for Writing a Cover Letter for a Banking Job

• Header: 
  • The header of your banking cover letter reads like a business card and includes your name, contact details, and current position. 
• Greeting: 
  • Start your banking cover letter with a warm salutation and a direct address to the recipient as the first step to building rapport. Other suitable addresses for a banking cover letter could be the job title of the recruiter (e.g. Branch Manager, Hiring Manager).
• Opening Paragraph: 
  • The opening of your banking cover letter should pinpoint skills indicative of your plans at the bank. Think about the qualifications you need to reach where you want to be in 5 years. An appealing introduction for a banking cover letter also ties in descriptions that align with the recruiter’s interests. 
• Body Paragraphs: 
  • Situate the company's objectives front and center in your banking cover letter. Mention awards or accomplishments that directly target the company's objectives.
• Conclusion: 
  • Politely end your banking cover letter with a CTA (call to action) for an interview and remind recruiters how to contact you.
• Signature:
  • Use a professional closing (Sincerely) and end with your signature and full name. If you are uploading a banking cover letter to a portal, you can exclude your signature or use an e-signature.

✅ Tips for Writing Banking Cover Letters

To make your body paragraphs more engaging in a banking cover letter, read on to find tips:

• Explain your interest in the banking role: 

Be specific in your banking cover letter and demonstrate the trajectory you plan to take. Your banking cover letter should distinguish your desires in commercial banking versus personal banking, for instance.

The following is a sample paragraph for a commercial banking cover letter:

• Express your interest in the bank/company: 

To avoid a cookie-cutter banking cover letter that can be written to any bank, mention what about the work culture at the bank inspires or interests you. Engage the recruiter in your banking cover letter by tying in a personal encounter with their staff, for instance. The following is a sample paragraph for a personal banker cover letter:

• Explain why you are a great fit: 

Discuss relevant educational background and accomplishments in your banking cover letter clearly by: 

• Using action verbs: To write a meaningful banking cover letter, use action words (e.g. managed, analyzed, and assessed) that draw a better picture of your ability. 

• Adding quantified results for impact: Banking is a numerate profession, and supporting your banking cover letter with quantitative results is crucial. Your banking cover letter should focus on metrics (loan volume, investment volume, annual revenue, etc.) that matter to the role. 

The following is a sample paragraph for a senior commercial banking cover letter:

• Finish with a strong CTA: 

Your banking cover letter should end with an interview request and provide ways to reach you. To finish your banking cover letter strong, highlight relevant common interests, events attended, or encounters with staff. Below is an example of how a banking cover letter might end:

• Don’t forget to attach your resume: 

Remember to attach your resume or CV to your banking cover letter. Check out our free resume/CV builder, which offers professional templates to match your banking cover letter. 

Tailor your banking cover letter to show your specialization for the role. Think about the type of clientele you want to serve in the long run, the scale of your tasks, and how you will prioritize your objectives in your banking cover letter. For instance, a banking cover letter for a relationship manager focuses on serving SMEs, while a banking cover letter for a loan processor may also target individuals with home mortgages. 

The following is a banking cover letter template you can adapt to your needs.

--- Originally written by Flora Lai ---