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In this edition of Meet the BDM, we talk to Citi business development manager, mortgage distribution, Sunny Cheng, to find out how he works with brokers to deliver good outcomes.
Q. How and why did you become a BDM?
I started off as a mobile lender with a non-major bank before deciding to change careers and become a BDM at Citi. My career aspiration was always to progress into a management position while maintaining a positive influence on people’s lives. Being a BDM has allowed me to do this, as I still get to work with people and get the satisfaction of finding the right deal, but I get to do it on a much grander scale due to the large portfolio of brokers I have. I’ve been a BDM for almost two years now, and I still love the autonomy, diverse responsibilities and sense of pride from helping find the right loan outcome for my brokers’ clients.
Q. Why did you join Citi (what do you most like about working here)?
Citi has a great reputation, given its strong global presence, long history and positive company values. I really appreciate the great working culture, and we have a strong leadership team who provide a tremendous level of support. As a non-major player, we are also leaner than some of our competitors in the market, which allows us to take a hands-on approach and be responsive to broker demands. For me personally, Citi also promotes good work/life balance, and allows flexible work, which is particularly important to me as a new father.
Q. How do you work with brokers to ensure good customer outcomes?
I think it’s really important to maintain good communication with brokers. I strive to be extremely responsive and return all broker calls or emails within 24 hours. I also run training sessions with my brokers to educate them on Citi’s product features, services and credit policy (including any policy changes). I provide brokers with weekly updates on our latest BDM specials and credit SLA times. I find these to be effective ways to help brokers have all the information on hand to answer clients’ questions. Additionally, I vet all loan scenarios with my brokers to ensure they fit Citi’s credit criteria, with the goal of securing a straightforward approval – which is better for the end client and the broker. My ultimate goal is to ensure that my brokers and their clients have a seamless journey throughout the application process.
Q. Top tips to enable brokers looking to work more efficiently with BDMs (and common mistakes you see in applications/scenarios that you’d like to fix?)
We are both working towards the same goal – the best outcome for the end customer – so I think of the broker-BDM relationship as teamwork. My top tip is to ask any questions upfront. Contact your BDM to vet loan scenarios if you are unsure, or give them a call with any credit policy questions prior to submitting an application. This can avoid delays or disappointments further down the track if an application is rejected. Many banks will offer a broker checklist, which is a useful tool to ensure all the required supporting documents are submitted with the loan application, so ask your BDMs for one of these if they have not provided it proactively. We are here to help you, so get in touch and we’ll do our best to assist!
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