News Review: BDM
We can all learn from the Maddox Manifesto by
Lisa Maddox, business
development manager, NatWest Intermediary Solutions
Although my colleagues would say I am not shy when it comes to voicing an opin- ion, when I was asked to put pen to paper, well fingers to the keyboard, I accepted it with a good dose of trepida- tion. Te prospect of scribing
an informative and hopefully entertaining column for this magazine was, I admit, a bit daunting. I am also conscious that for this month I am effec- tively the public face of the 30 field and phone BDMs at Nat- West Intermediary Solutions. So here goes!
Shared responsibility I guess the first thing to say is that I love my job. I would say that wouldn’t I? But it’s true. I’ve been a BDM for 15 years now and currently look aſter a panel of brokers in the Midlands including places like Stoke, Cheshire, Cannock and Walsall. It’s been a really rewarding experience over, what has been, a tremendous- ly challenging period in the last few years. We all know how tough it
has been for lenders, inter- mediaries and their clients in recent times but I do feel that it has brought us all closer together and there is now a greater sense of shared re- sponsibility in driving busi- ness forward. I have certainly noticed that
the brokers I see are more op- timistic now than they have
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been for a long time and that is evidenced by the increased number of applications they are submitting. Without doubt, we are
working in extremely dy- namic times with products and criteria from all lenders changing regularly. Tis must be very demanding for bro- kers, so I see it as a big part of my role to support them with the information they need when we make changes to our portfolio.
Right first time For instance, earlier this year we investigated what addi- tional benefits we could offer those intermediary clients who have an existing banking relationship with NatWest or RBS and then in October we launched a main bank and a current account range of mortgages. It’s been very im- portant for me to talk through
the qualifying criteria with my panel so that they are able to pinpoint those clients who might be suitable for these deals. From a personal point
of view, it’s important to fo- cus on the quality of applica- tions and getting completions done which means that cor- rect application packaging is top of my list. I make sure that my brokers are armed with the right information
“We are working in extremely dynamic times with products and criteria from all lenders changing regularly”
The Maddox Manifesto
1. I always return a call to one of my brokers on the same day, even if I am unable to provide an immediate solution, as I firmly believe that it’s important to confirm the latest position on an issue and outline what the next steps are.
2. I always manage expectations so that my brokers get a clear and honest assessment of a case or when they can expect a decision on a matter – I never over-promise and under-deliver.
3. I am proactive. Rather than waiting to hear from one of my brokers I make a point of regularly ringing and visiting them. If a broker hasn’t submitted an application to me in a while (it happens occasionally!) I will ring them and ask them if anything is wrong.
4. I take ‘ownership’ of the end-to-end experience. I know how much each case means to my brokers so I won’t fob off any difficult issues onto colleagues in another part of the organisation.
5. I establish good working relationships at all levels with the broker firms I work with as they will all have a hand in submitting business and need to know who to speak to if they have a question.
and guidance to be able ‘right
first time’
submit applications that are
as
to it
means they will be processed quicker. I mentioned that I am not
shy to voice an opinion, but I also know that it is vital to actively listen carefully to my brokers – one, to make sure I fully understand their con- cerns and, secondly, I will al- ways pick up a new nugget of information that can help me broaden my knowledge. I pride myself on having a
detailed knowledge of each of the brokers on my panel as it helps me to anticipate what they might need. To make sure that I achieve this I re- ligiously follow the ‘Maddox Manifesto’ (see box).
Instant messaging I wouldn’t be able to do my job effectively unless I had the support of my colleagues. Tat’s why LiveTALK - our instant messaging service – is such a positive asset in our proposition. It’s fair to say that many of my brokers were a bit sceptical about using this service when it was
intro-
duced, but now I get nothing but praise for it. Especially as they are able to get a tran- script of the conversation. And it certainly helps me in my role, as many questions that might have been directed at me on the phone can now be answered immediately on LiveTALK. I think I speak for all my
colleagues when I say be- ing a BDM is hard work. But it’s massively rewarding and diverse. It’s a cliché I know but every day is differ- ent and that’s what makes it so stimulating.
MORTGAGE INTRODUCER JANUARY 2013 21
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