You need to be at least Level 80 to receive this quest. You need to be at least Level 74 to turn-in this quest. This quest becomes trivial above Level 90.
Spoiler Alert! We have some more information about how to perform this quest but recognize you might want to try it on your own before we tell you the secret...
Bankelemos is on the upper deck along the inside of the eastern wall of Old Awytar. You cannot walk up the stairs to get there, but walk on the ground just to the side of the stairs.