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ING DIRECT’s Vanessa Boudib believes the hardest thing about being a BDM is having to say ‘no’
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What is the toughest thing about your job?
It would be really nice to be able to say ‘yes’ to brokers on every loan scenario they come across, but unfortunately sometimes I have to say ‘no’. That can be tough at times, but as long as I know I’ve explored all the options and have been honest with the broker throughout the process, they understand my position and appreciate the effort.
There are also aspects of the role that I find very fulfilling and enjoyable. One of them is simply building deeper relationships with my brokers. To be able to add value to our brokers, it’s essential I take the time to get to know and understand their businesses.
What does a typical day for you look like?
A typical day starts with an iPad in my left hand and an iPhone in my right. As I head into the city, I check my daily reports and respond to any emails or voice messages I’ve received overnight.
I then take some time to workshop any ‘outside the square’ loan scenarios with our credit department and office-based relationship managers (RMs) and make some proactive sales calls to our broker partners.
For the rest of the day, I’ll be at my desk, either on the phone or sending emails – answering loan scenarios, ordering upfront valuations, prioritising deals and following up pipeline deals.
What is the worst experience you have ever had in your career as a BDM?
This is a tough question and I can’t say I’ve had a single negative experience. What I would say is that I have very high expectations of myself and the service I want to provide to our brokers, so when something that is out of my control leads to a customer not having a seamless experience, it can be very frustrating. I want every customer to have a great experience, every time.
What causes turnaround times to blow out and how can brokers help make the problem better?
There are two main reasons for this. The first is supply and demand. When a product or interest rate becomes attractive everyone wants to take advantage of it at once and this puts added pressure on areas of the bank, such as data input and credit assessment.
The second is re-working deals. To save time and avoid the need for a deal to be reviewed by a credit assessor more than once, there are a few simple things brokers can do. Firstly, include all of your supporting information up front. Secondly, sell us the deal in your cover notes – tell us why you’d lend them your money. Thirdly, if you have any questions or concerns, speak with your BDM/RM before you submit the deal. These little things make a big difference!
What are some of the most common misconceptions brokers have about their BDMs?
For me, I’m actually an office-based RM, which I thoroughly enjoy. Being office-based means I have easy access to our credit assessors and, as the brokers’ dedicated single point of contact at ING DIRECT, I’m readily available via telephone and email to answer any queries they may have.
We’ve received a lot of feedback from brokers who love the office-based RM model. They don’t need to see my face every few weeks; they’re happy having me available to answer their questions and solve their problems as and when they need it.
What is the one piece of advice you would like to communicate to your brokers?
ING DIRECT is a true broker bank. Ninety per cent of our production comes from our brokers – and we don’t take that for granted.
Over the last 12 months, we have implemented a series of enhancements across our products, policies and processes to ensure brokers have a fair and easy experience when dealing with ING DIRECT. So, my advice to brokers would be to try us!
