The role of the coverage department is to support the bank’s clients. A coverage group is comprised of senior bankers or relationship managers whose main objective is to provide solutions to the client. With strong interpersonal skills, they are able to understand customers’ needs in order to provide the most appropriate solutions.
To do this, the banker must have:
a deep understanding of the client's business (strategy, sector, geography, etc.);
a deep understanding of the solutions that the bank can bring to the customer, by business and by geographical area;
in order to be able to carry out operations with the client, and in particular to finance the client, the banker will have to define the counterparty/credit risk limits (with the approval of the risk department);
he or she is also responsible for the client's profitability.
Coverage bankers serve as intermediaries between the client and the various departments of the bank. They are the client's main contact.
Coverage is usually separated into corporate and institutional coverage (banks, insurance companies, pension funds, etc.) since the needs of these clients are very different.
The role of the Senior Banker is to develop high-level commercial relationships with clients in order to promote the full range of services and products, particularly high value-added activities (M&A, ECM, DCM, strategic operations).
The Relationship Manager, under the coordination of a Senior Banker, has a particular focus on corporate banking, market and flow products as well as cross-selling of CIB and non-CIB products.