Salaries for positions in the Banking work area

The gross salary range for people working in Mongolia in Banking is typically from 1,008,513 MNT (minimum salary) to 3,673,614 MNT (highest average, actual maximum salary is higher).

This is the total monthly salary including bonuses. Salaries can vary drastically among different job positions. If you are interested in the salary of a particular job, please choose it from the list.

Gross salary in category Banking

Salaries may vary by position, the value given is indicative.

80% of people earn:

1.0M - 3.7M MNT

10% earn less lthan 1.0M MNT

10% earns more than 3.7M MNT

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What does the data in the graph mean?

Salaries in the survey are expressed in gross.

Based on the Paylab.com salary survey, 80% of people in the Banking category in the Mongolia earn between 1,008,513 MNT and 3,673,614 MNT monthly gross.

10% of employees earn less than 1,008,513 MNT and 10% of people earn more than 3,673,614 MNT.

The survey is based on data from employees, cleaned of extreme and duplicate values. By taking a free, anonymous survey, you will get a more accurate salary comparison with other people working in the same position as you.

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List of positions in the Banking category and their job descriptions

Job position

Description of job position

Salary range

Account Manager

Develop and maintain strong relationships with clients to understand their financial needs and objectives.
Serve as the primary point of contact for clients, addressing inquiries and providing tailored solutions.
Collaborate with internal teams to deliver exceptional service and support to clients.
Analyze client portfolios and recommend appropriate banking products and services to enhance their financial growth.
Monitor client accounts to ensure compliance with banking regulations and policies.
Prepare and present financial reports and performance reviews to clients, highlighting key metrics and trends.
Identify opportunities for cross-selling and upselling banking services to existing clients.
Conduct regular follow-ups to ensure client satisfaction and retention.
Stay updated on industry trends and market developments to provide informed advice to clients.
Participate in networking events and client meetings to expand the client base and enhance the bank's visibility.

1,275,476 - 3,293,624 MNT

Anti-Money Laundering Specialist

Implementation, enforcement and control of money laundering and / or terrorist financing prevention measures in the company;
Checking new customers, reviewing documents, risk analysis of new customers;
Monitoring of existing customers according to established procedures;
Monitoring of suspicious transactions, customer activities, collection and analysis of data on such transactions, investigation of suspicious transactions;
Organization of the company's internal legal acts related to KYC, AML, customer risk, compliance control, organization of their change and renewal.

1,131,617 - 2,859,193 MNT

Back Office Specialist

Processing of all types of client requests.
Entering and updating the information in the bank information system.
Drawing up and processing of contracts and contract amendments for individual banking products.
Archiving documents in compliance with the internal regulations.
Mastering internal regulations, general business terms and conditions, and business conditions for individual banking products.
Communicating with internal and external clients.

1,081,201 - 2,594,629 MNT

Branch Director

Overseeing the daily operations of the branch to ensure efficient service delivery.
Leading and managing branch staff, providing guidance and support to enhance performance.
Developing and implementing strategies to achieve branch sales targets and enhance customer satisfaction.
Ensuring compliance with banking regulations and internal policies to mitigate risks.
Building and maintaining relationships with clients, addressing their needs and resolving issues.
Monitoring financial performance and preparing reports for senior management.
Conducting training and development programs for staff to improve skills and knowledge.
Collaborating with other departments to promote products and services effectively.
Managing branch budgets and controlling operational costs to optimize profitability.
Participating in community engagement initiatives to promote the bank’s presence and reputation.

1,434,763 - 4,631,360 MNT

Card Services Clerk

Processing applications for the issuance of credit and debit cards.
Communicating with companies issuing credit cards and bank branches.
Participating in the creation and updating of internal regulations.
Cooperating with project managers on new projects.
Solving complaints.
Assessing the suitability of motives on credit cards in your own design.

1,041,047 - 2,461,360 MNT

Cashier

Processing customer transactions accurately and efficiently.
Handling cash, credit, and debit transactions while maintaining a balanced cash drawer.
Providing excellent customer service by addressing inquiries and resolving issues promptly.
Assisting customers with account-related questions and transactions.
Ensuring compliance with banking policies and procedures to mitigate risk.
Maintaining the confidentiality of customer information and transactions.
Performing routine audits of cash and transactions to ensure accuracy.
Collaborating with team members to achieve branch goals and improve customer satisfaction.
Participating in training and development programs to enhance product knowledge and service skills.
Keeping the cashier area organized and ensuring a clean and professional environment.
Reporting any discrepancies or irregularities to the branch manager.
Promoting bank products and services to customers to enhance their banking experience.

827,852 - 1,586,046 MNT

Claims Administrator

Recovering overdue receivables from the customers of a leasing company.
Registering and controlling overdue receivables.
Processing and sending written and e-mail reminders.
Communicating with debtors and other departments within the company.
Planning repayment schedules in the event of the insolvency of debtors.
Registering and checking payments in the system.
Preparing materials for the legal department.

936,844 - 2,400,662 MNT

Client officer

Active sale of bank products and of services to retail clients.
Opening and closing of bank accounts.
Realization of domestic and international wire transfers.
Accepting and issuing of cash in domestic and foreign currency.
Providing clients with counseling and information.
Carrying out administrative tasks connected with the provided services.
Fulfilling of the set business and acquisition plans.

883,567 - 2,237,421 MNT

Compliance Specialist

Assessing the legality of the bank's entrepreneurial activity.
Monitoring the legislative standards and requirements of organs of supervision that are valid in the place of the bank's activity.
Identifying the risks in the legislation and/or internal procedures.
Point out the potential risks to the superiors.

1,531,225 - 3,723,602 MNT

Custody Specialist

Securing the administration and custody of securities for clients.
Keeping clients informed about corporate shares concerning the administrated securities.
Carrying out operations with securities on the basis of clients' orders.
Calculation and control of the current value of securities in the administration of the bank.
Paying returns from securities.
Representing clients and their interests at general assemblies.

Dealer/Trader

Purchase, keeping and sale of securities, commodities and foreign currencies in the currency of the clients and/or on the account of the bank.
Monitoring and verifying prices of the financial tools at the security exchange.
Following and analyzing the development on financial markets.
Exchanging information with colleagues and clients.
Preparing financial reports.

1,166,717 - 2,837,199 MNT

Department Manager

Ensuring the smooth running of the department within the company.
Managing, coordinating, motivating and evaluating subordinate staff.
Training of new recruits.
Finding and proposing trainings and courses for subordinate employees.
Checking the attendance of subordinate employees.
Solving non-standard situations at the workplace.
Participation in the selection and dismissal of employees.
Preparing weekly and monthly reports.

1,376,356 - 4,621,658 MNT

Financial Advisor

Providing personalized financial advice to clients based on their individual financial situations and goals.
Analyzing clients' financial information to develop tailored investment strategies and plans.
Educating clients on various financial products and services, including investments, insurance, and retirement planning.
Monitoring clients' portfolios and making recommendations for adjustments as needed to optimize performance.
Building and maintaining strong relationships with clients to ensure high levels of satisfaction and trust.
Staying up-to-date with market trends, economic developments, and changes in financial regulations to provide informed advice.
Preparing and presenting financial plans and reports to clients in a clear and understandable manner.
Collaborating with other financial professionals, such as accountants and tax advisors, to provide comprehensive services.
Conducting regular reviews with clients to assess their financial goals and progress.
Actively seeking new clients through networking, referrals, and marketing efforts to grow the business.

1,087,797 - 2,758,416 MNT

Financial Analyst

Preparing regular and ad hoc financial analysis.
Preparing statistics.
Developing weekly and monthly reports.
Taking part in developing financial plans.
Taking part in developing and improving controlling mechanisms.
Communicating with the high management members of the company and other departments.

1,490,882 - 3,511,451 MNT

Internal Auditor

Drafting comprehensive plans and programs of audits.
Performing audit activities at the company’s headquarters and branches.
Checking compliance with internal regulations and the legislation.
Reviewing business and operational activities of organisations.
Processing audit outputs in the form of reports.
Making recommendations and monitoring the removal of any identified deficiencies.
Providing advice and consultancy within the scope of the auditor’s competence.

1,624,719 - 3,856,733 MNT

Loan Specialist

Providing advice connected to consumer, mortgage, and commercial loans.
Evaluating client creditworthiness pursuant to the lending policy at the financial institution.
Concluding loan contracts on behalf of the financial institution.
Checking the payment of instalments and the fulfilment of conditions agreed in the loan agreement.
Adjusting deadlines and monthly instalments, loan maturity, etc. in the event that a client is temporarily unable to make payments.
Contacting competing financial institutions with proposals for co-financing higher-cost investment projects.
Cooperating with executors and external companies that deal with the collection of receivables.

1,118,016 - 2,818,865 MNT

Mortgage Specialist

Providing advice to clients regarding mortgage products and services.
Communicating with real estate agencies, building investors, authorities and other entities.
Acquiring potential clients.
Processing and assessing customers’ requests for mortgage loans.
Performing administrative tasks associated with the provision of mortgage loans.
Concluding mortgage loan agreements.

1,103,648 - 2,794,672 MNT

Payments Clerk

Processing payments, including deposits, withdrawals, and fund transfers.
Cashing checks and accepting loan payments while ensuring accuracy in transactions.
Completing necessary forms for loan approvals and other banking services.
Buying and selling foreign currency as required.
Verifying account details, bank names, transaction amounts, and the accuracy of completed documents.
Ensuring compliance with identification verification procedures for clients receiving services.
Assisting customers with inquiries and providing information on banking products and services.
Maintaining accurate records of all transactions and customer interactions.
Collaborating with team members to enhance service delivery and operational efficiency.
Adhering to banking regulations and internal policies to mitigate risks and ensure security.

974,485 - 2,459,215 MNT

Personal Banker

Taking care of the assigned portfolio at the bank branch.
Creating and developing business relations with clients .
Presentation and sale of bank products and services.
Fulfilling of the set personal business plan.
Taking part in fulfilling the financial and campaign plan.

1,097,635 - 2,669,205 MNT

Private Banker

Managing liquid assets, stocks, bonds and real estate of highly creditworthy bank clients.
Seeking out potential clients and their acquisition within their area of operation.
Detecting the individual requirements and objectives of clients with the intention to propose the optimal investment solution for the appreciation of their property.
Communicating with experts in asset management, real estate, lawyers etc.
Providing advice in the investment and real estate area.
Handling the special requirements of clients (e.g. booking tickets for an event, providing private jet transportation, etc.).

1,406,429 - 3,338,559 MNT

Product Manager - Specialist

Developing the new and innovating the existing bank products and services.
Monitoring and analyzing the competitive environment.
Following the fulfilling of goals in the area of product profitability.
Taking part in creating and setting the processes connected with products.
Directing and training new employees.
Analyzing and solving arisen operating problems.
Cooperating with other departments of the bank.

1,417,813 - 4,470,919 MNT

Product Marketing Manager

Develop and implement effective product marketing strategies for banking products and services.
Conduct market research to identify customer needs, market trends, and competitive landscape.
Collaborate with cross-functional teams, including product development, sales, and customer service, to ensure alignment on product offerings.
Create and oversee marketing campaigns, including digital, print, and social media, to promote products and enhance brand awareness.
Analyze product performance and customer feedback to refine marketing strategies and improve customer satisfaction.
Prepare product presentations and training materials for internal teams and external stakeholders.
Monitor and report on key performance indicators (KPIs) related to product marketing effectiveness.
Manage budgets for marketing initiatives and ensure efficient allocation of resources.
Serve as the main point of contact for product-related inquiries and provide support to sales teams.
Stay updated on industry trends and regulatory changes affecting banking products to ensure compliance and competitiveness.

1,582,884 - 4,791,530 MNT

Relationship Manager

Presenting and selling banking products and services to company clients.
Monitoring the market and competitors' activities within the assigned region.
Finding new clients.
Creating and developing business relationships with company clients.
Performing one's prescribed personal business plan.
Participating in performing financial and campaign plans.
Keeping records and the database of clients.

1,417,811 - 3,499,657 MNT

Risk Specialist

Identifying credit, market, operational, strategic and liquidity risks potentially threatening the assets and cash flow of the bank.
Developing methodology for measuring individual types of risks.
Designing and analysing measures to prevent risks.
Designing solutions to cover damage in case of risks.
Using external registers (e.g. credit register, register of Social Security debtors, etc.) in assessing risks.
Cooperating with product and project managers, underwriters and other bank departments.

1,501,367 - 3,563,921 MNT

Seller of Bank Services, Loan Officer

Monitoring cash flow in the branch's cash register and vault, ensuring accurate records of deposited and withdrawn funds.
Verifying issued and received checks, maintaining comprehensive knowledge of all bank services and products, including loan types and savings options.
Assisting tellers at the counter by providing accurate information to clients regarding banking services.
Completing standard contracts for various types of loans, ensuring proper usage of loan funds, calculating and collecting interest on loans.
Opening and managing accounts for both domestic and foreign clients, addressing complaints and correspondence, and maintaining organized records.
Collecting and managing documentation, preparing analytical and statistical bases for report creation, and generating simple reports related to job responsibilities.
Receiving and transmitting messages through fax and email, ensuring efficient communication within the bank.
Building and maintaining strong relationships with clients to enhance customer satisfaction and loyalty.
Staying informed about market trends and regulatory changes to provide accurate advice and guidance to clients.
Collaborating with other departments to facilitate seamless service delivery and support the overall objectives of the bank.

1,183,231 - 2,276,992 MNT

Stock Broker

Making business transactions with clients.
Searching for potential clients.
Communicating with clients with the purpose of securing their needs.
Communicating with dealers/traders about the details of the business transaction.
Addressing clients on the phone with investment offers.
Providing clients with counseling in the area of investment.

1,426,177 - 3,504,799 MNT

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