Commercial account managers can work for insurance companies, banks or other companies, helping to manage accounts. People holding this job work as part of the business department. These individuals work as a liaison between clients and higher executives in order to make sure accounts are being handled properly.
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Education and Experience
Those looking to be hired as commercial account managers should have a college degree. Business, economics, finance or related fields can be helpful areas of study. Previous experience in the field they are working in is also necessary. Some fields require commercial account managers to hold a license. For example, a Property and Casualty license and/or a Life, Accident and Health license are required to sell insurance, so these must be obtained by anyone holding this position in an insurance company.
Since this individual will be working with clients, he should have strong customer service skills. Additionally, since he will be reporting to either the sales executive or the account executive, he should have strong communication skills and be able to interpret complex directions clearly and correctly. He must be able to interpret and explain abstract information. He must be able to analyse complex data and develop plans to improve financial functions of the company. A commercial account manager needs to have proficient computer and word processing skills. Additionally, he must have thorough knowledge of the field in which he is working, including products and markets, according to DocStoc.com.
Duties for this individual can vary greatly based on the company. Typically an individual holding this job works with the business department and meets with clients. She is responsible for making contact and acquiring new customers. Additionally, this person must keep up a comfortable relationship with clients, including assisting them in scheduling appointments. She is also responsible for customer retention, so when a client cancels his account or policy, she must follow up and report back to her superiors. Additionally, she works in the business department analysing sales information and working to improve the financial outlook of the company, according to BusinessWeek.com.
Though a commercial account manager spends most of the day sedentary, sitting behind a desk, this can be a stressful position. The companies these individuals typically work for offer a fast-paced and high pressure environment, as they require employees to meet strict deadlines.
Salaries can vary greatly by company and industry for a commercial account manager. According to GlassDoor.com, salaries can range from £26,000 to £85,150 per year as of June 2010. The mean salary is about £41,600 per year.
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