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Written by Karl KahlerKarl Kahler

Banking cover letter example

When you are wondering who to hire to trust with your clients’ money, a banking cover letter can go a long way to setting your mind at ease.
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Banking cover letter example
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Trust is an important commodity when you work in banking. Whether you are behind a cash desk or managing millions in investments, it is a people industry like no other. Much as algorithms might rule the stock market these days, people still like to deal with other people when it comes to the intricacies of their finances. When writing a banking cover letter, it is therefore vital to allow your professional personality to the forefront.

Banking is the ultimate relationship industry. While connections might help to introduce you to potential hiring managers, it will likely be the case that other people will be involved in the hiring process. Knowing someone may gain you a slight advantage, but you still need a cover letter that will back up their recommendation. This is your chance to go way beyond the facts of your career and write a persuasive piece to say why you are a great hire.

Banking cover letters should focus on how you get things done as well as your accomplishments. Culture fit is crucial in financial services, so do a deep dive on the working practices and expectations. Most leading employers share a lot of content around their employer brand, so do your homework. Feeling comfortable in the workplace is so important.

But which banking stories do you share in the cover letter? Won’t employers just want to read about numbers and growth percentages? Will more fluffy behavioural stuff really be useful to share before you have even secured an interview? In our experience, it is precisely the more human aspects of your application that will seal the interview deal. Sure, you need to have the related experience and success, but you can be sure that plenty of other candidates will be able to boast something similar. In this banking cover letter guide, we will therefore explore:

  • Writing a letter to convey the right aspects of your experience
  • How to structure a banking cover letter
  • Writing a banking cover letter with no experience
  • Mistakes to avoid if you want to secure that interview.

As a starting point, why not have a look at some of our many cover letter examples to get a sense of how to write a cover letter? Doing some research upfront may help you to make better decisions when it comes to writing your letter.

Best format for a banking cover letter

Banking is a highly regulated industry, so bankers understand the importance of structure. Most financial services professionals will be used to influencing and selling ideas, so they will automatically seek to create a framework for their job search pitch. The format of the banking cover letter should not be complicated – it is the content of the message that matters most. Our advice would be to follow the typical cover letter format:

  • The cover letter header
  • The greeting / salutation
  • The cover letter intro
  • The middle paragraphs (body of the letter)
  • The ending paragraph of your cover letter (conclusion and call-to-action)

When it comes to thinking about the content, your first consideration should always lie with the employer. What do they need from this hire? What are the tough parts of the job description that other candidates may not be able to satisfy? Which parts of my career story do I need to highlight? If you work from the employer’s needs backwards, you will ensure that every sentence of your banking cover letter will hit in the right way.

It is tempting to dive straight into writing the cover letter (you will likely have enough financial services stories to fill ten pages) but take a moment to think through some of the basics before you start. Think about the design of the cover letter. What font do you want to use? How much space would that give you for the text? Is there enough white space on the page to make the cover letter legible? These questions and more are covered in our comprehensive cover letter guide – give yourself time to create a framework for your sales pitch. There is nothing worse than a cover letter with a font that is too small.

Adaptable cover letter sample

Dear Emily Robinson,

I am writing to express my interest in the position at British Banking Group, as advertised on your corporate website. Leveraging a solid foundation with a bachelor's degree in Finance from the London School of Economics and Political Science (LSE), and enriched with four years of hands-on experience in the financial sector, I am eager to bring my skills and knowledge to your esteemed institution.

In my recent role as a Banking Analyst at Secure Bank in Birmingham, I managed a portfolio of high net-worth clients, achieving a substantial increase in customer satisfaction during my tenure. My responsibilities included risk assessment, financial analysis, and implementing strategies that maximised asset growth while mitigating losses. This role also afforded me the opportunity to hone my proficiency in utilising a range of banking software, offering me the acumen to quickly adapt to the technology employed at British Banking Group.

I am particularly drawn to your organisation's commitment to community development and financial literacy, as highlighted in your recent CSR initiatives. Leveraging my volunteer experience as a financial literacy mentor with a local non-profit in Manchester, I am excited at the potential of contributing to British Banking Group's outreach programs, while aiding in fostering responsible banking habits in the community.

Furthermore, I have continued my professional development through certifications in financial modelling and investment analysis, equipping me with a detailed understanding of complex financial instruments and market dynamics. I am keen to apply this knowledge to identify and seize lucrative opportunities, helping to drive British Banking Group's sustained growth in a competitive market.

I am confident that my well-rounded experience, educational background, and commitment to community engagement make me a strong candidate for this role. I am eager to potentially contribute to your team, leveraging my expertise to foster financial solutions that not only benefit your esteemed clientele but also promote sustainable growth and community development.

Thank you for considering my application. I look forward to the possibility of working at British Banking Group, where I am eager to add value and support the organization in reaching its strategic objectives.

Yours sincerely, David Thompson

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Cover letter header

Bankers understand the importance of crisp presentation on important documents. When you are doing deals in the millions, you don’t want clients to be distracted by clumsy formatting or unprofessional design. In a similar way, the cover letter header should be professional and understated, doing its job, no more, no less. There can and should be an element of design that will depend on individual taste (as a fully white page may signify a lack of effort), but make sure that you don’t get carried away with colours and flourishes.

The content of the header should contain your full name, email address and mobile number. Some financial professionals may wish to be careful with such personal details, but they are important for any job search. You might consider getting a mobile number especially for your job search if you do not wish to share your personal number (understandable). You should repeat this information from your CV – you never know when a hiring manager may wish to invite you to an interview. Don’t make it hard for them.

Bankers understand the importance of privacy, so don’t include your full home address. You can share this at the offer stage. Normally, the inside address of the employer would not be required, but if you are applying to a place that stands on formality, it may not hurt you to include this if you wish to follow every convention.

Cover letter greeting

In such a relationship-driven role, greeting the hiring manager should not prove too difficult. “Dear Mr/Mrs/Ms Surname” is the accepted salutation, while “To whom it may concern” is a suitably formal alternative. You may wish to opt for a more friendly “Dear Company team” but in an industry such as banking it may be better to err on the formal side.

Try your best to find out the name of the hiring manager if it is not on the job description. This personal touch will go a long way if other candidates have not managed to personalise their banking cover letters. A quick call to reception may solve the problem. Alternatively, you could do some sleuthing on LinkedIn.

Cover letter introduction

The introduction of a banking cover letter needs to hit the hiring manager with the numbers from the first line. You are likely a results-oriented individual, so there should be a wealth of accomplishments to choose from. Make sure that they tally with the demands of the role — the job description should be useful when you are prioritising your stories.

Think of the introduction of a cover letter as the start of a conversation. You won’t be able to say much in those few lines, but you do need to grab the interest of the hiring manager and make them want to find out more during an interview. If your introduction is uninspiring, they may not even read any further. They will likely have many more cover letters to read.

Also, it is important to make the introduction different to the tone and content of your CV. If the hiring manager feels that the content has been regurgitated, they will likely switch off. Share more personality and motivation – banking is a tough industry.

Adaptable cover letter introduction example

Dear Emily Robinson,

I am writing to express my interest in the position at British Banking Group, as advertised on your corporate website. Leveraging a solid foundation with a bachelor's degree in Finance from the London School of Economics and Political Science (LSE), and enriched with four years of hands-on experience in the financial sector, I am eager to bring my skills and knowledge to your esteemed institution.

Copied!

Cover letter middle part (body)

The middle paragraphs of cover letters should contain three of four key career stories that will illustrate different aspects of your application. Go with accomplishments that are out of the ordinary. No hiring manager wants to hire someone average. Also, resist the temptation to parrot the responsibilities of the role – your manager knows what the job entails, so you need to prove that you have what it takes to get it done.

The middle paragraphs are also a place to detail your relationship skills. A banking cover letter is the perfect place for these warmer moments as CVs are generally dry and more factual. Allow your personality to shine through.

Adaptable cover letter middle part example

In my recent role as a Banking Analyst at Secure Bank in Birmingham, I managed a portfolio of high net-worth clients, achieving a substantial increase in customer satisfaction during my tenure. My responsibilities included risk assessment, financial analysis, and implementing strategies that maximised asset growth while mitigating losses. This role also afforded me the opportunity to hone my proficiency in utilising a range of banking software, offering me the acumen to quickly adapt to the technology employed at British Banking Group.

I am particularly drawn to your organisation's commitment to community development and financial literacy, as highlighted in your recent CSR initiatives. Leveraging my volunteer experience as a financial literacy mentor with a local non-profit in Manchester, I am excited at the potential of contributing to British Banking Group's outreach programs, while aiding in fostering responsible banking habits in the community.

Furthermore, I have continued my professional development through certifications in financial modelling and investment analysis, equipping me with a detailed understanding of complex financial instruments and market dynamics. I am keen to apply this knowledge to identify and seize lucrative opportunities, helping to drive British Banking Group's sustained growth in a competitive market.

I am confident that my well-rounded experience, educational background, and commitment to community engagement make me a strong candidate for this role. I am eager to potentially contribute to your team, leveraging my expertise to foster financial solutions that not only benefit your esteemed clientele but also promote sustainable growth and community development.

Copied!

How to close a banking cover letter (conclusion and sign-off)

It is likely that you will have many more financial stories to tell, but rather than pack the cover letter with your accomplishments to the very last line, remember to end with a note of anticipation for what might be to come. If you say that you are looking forward to finding out more about the role at a potential interview, the hiring manager will feel more inclined to invite you. Be confident but not presumptuous with this call-to-action.

Adaptable cover letter conclusion and sign-off example

Thank you for considering my application. I look forward to the possibility of working at British Banking Group, where I am eager to add value and support the organization in reaching its strategic objectives.

Yours sincerely, David Thompson

Copied!

Banking cover letter with no experience

Not many people will walk into a banking job with no previous experience. If you are early in your career, think about getting onto the job ladder by taking part in some internships or gaining some unpaid work experience. Banking is a long and rewarding career — show that you are in it for the long run.

If you are in a related financial industry, focus on the skills that may be transferable from your previous role. It is vital to show that you understand what is expected of you and that you will be able to handle the learning curve.

Basic mistakes in a banking application letter (and how to avoid them)

Banking professionals are famed for their attention to detail. One mistaken additional digit on a spreadsheet can make a lot of difference and technology isn’t always there to catch the errors. Avoid making any of the following basic errors in your banking cover letter.

  • Grammar errors. Making any mistakes with spelling and grammar is unforgivable. Check with online software such as Grammarly.
  • Keep it formal. There is a temptation to adopt a conversational tone in a cover letter, but when you work in financial services you should keep it formal.
  • Stick to the job description. Tell the stories that you think best highlight your fit — leave out those that do not fit directly with the job description.

Key takeaways

  1. Pack the banking cover letter with numbers and growth figures.
  2. Share your influencing and relationship building skills — that is vital for anyone who wants a successful banking career.
  3. Make sure that you cover your motivations for the role — this is difficult to convey in a more factual CV.
  4. Choose a professional design. Check out our tried and tested cover letter templates.
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