Roles of Bank RM Part II

If you are a 'farmer', you would receive requests from existing bank customers, under your care, to do things like waiving a certain admin fee on some transactions, increasing certain limits on their loans, checking on an overseas transaction that got 'stuck' somewhere along the way and payment has not been made, changing their installment plans for certain credit facilities, adding certain 'add ons' to their deposit/insurance policies, applying for certain banking facilities which they do not currently have, eg internet banking, asking for calendars, diaries, red-packets during year-end or festive seasons etc, and the list goes on. To the 'farmer' RM, these are some of the issues which they have to deal with or tackle on behalf of their customers.

Roles of Bank RM

As a Bank RM, you can get to be a 'farmer' and/or 'hunter'.
The former is when the Bank RM focuses on servicing his/her existing clients, looking after their specific needs will be the main job scope.
The latter is when the Bank RM focuses on generating new clients for the bank. More often than not, most RMs have to do both, which is indeed a tall order.
I shall elaborate more with examples of what the Bank RM will face in the 'farming' area and the 'hunting' area in my next post

Break From Banking : Australian Open Tennis 2009

Hi There, I have been listening in to live radio coverage of the Australian Open Tennis 2009. Andy Roddick won his quarter-finals match, and there will be more from 1900hrs (AEST) which is 1600hrs (Spore time).

More US Bank Bailout Plans

Check this out. More money will be set aside for banks in the US, which is good news for the whole banking industry worldwide. It is like a repair mechanism for the 'injured' banks, to make the banks strong again and functioning normally again.

Home Prices In Singapore

Home Prices in Singapore are falling. Most people in Singapore have to work hard to own a home of their own, some work hard all their lives to pay off the mortgage. Well, this year might be a good time to start buying that new apartment, up-grade to a larger one, or invest in a second property?

SME Loans Supported By The Government

The government has backed SMEs in terms of loan and credit applications with banks. Read all about it.
In this present economic climate, some SMEs, with 'weaker' financial statements/documents, find it harder to get financial support from banks as most banks have increased their risk assessment critera.

PFC Interview

To further prepare oneself for the interview, one needs to speak more with people from the banking industry especially those in bank sales environment. Hear about the culture of bank sales, what the expectations are, what the sales targets are, what the working hours are, what the stresses are, what the incentives are etc, get a clearer picture of what it is like in a bank sales working environment.
Go to any bank branch when you are free and observe the PFCs in action. Watch how they behave towards their customers, pay attention to their tone of voice when they speak with customers, take note of their body language (but dont do it too directly = )because it might make the security personnel suspicious). Perhaps take a queue no and ask them about certain bank products that you are interested in.
Of course, not all trained PFCs working in branches are really professional, in fact, some are far from it, even losing out to newly-trained PFCs.
Bank sales is really about a person's nature. If one is a service-oriented, customer-oriented and hardworking person with a passion for the banking industry and in particular, sales, then half the battle's won.

RM Vacancy

This is the RM position I was referring to. This is a Commercial Banking position, so most probably you be exposed to Trade Services Products such as LCs, TRs etc.

RM Vacancy At RBS or ABN AMRO

Hi Everyone, check out this position in the RBS Singapore website. They are hiring RMs with SME experience to work in their Commercial Banking department. Great, challenging role I guess. =)

Question on What It Takes to Prepare for a PFC Interview

Hi There, I was asked this question by one of my readers. Thanks for the question!
For a recent graduate, you can prepare yourself for the interview by:
1. Reading up on banking-related issues on the net and newspapers (Straits Times Money Section or Business Times). It will come in handy during interviews.
2. Pay attention to your personal grooming, you dont have to look gorgeous, but it helps to stay looking pleasant and professional. Eating right (less oily stuff, more veges and fruits) and exercising are important.
3. Practise how to answer certain standard interview questions, which I will elaborate more in my next posting.
4. Be confident. This can be learned if you dont possess it.
5. Be Relax and Smile, but convey to the interviewers that when it comes to work, you will be super serious and focused.

Actually if you refer to my earlier post, I think it's my first post. There are some character traits which are needed in a banking sales environment. You will need to be sensitive to others' feelings, humble, always ready to serve, self-disciplined and self-motivated.
If one is not serious enough about work and likes to have fun all the time, then the PFC job is not suitable. I am not saying that one cannot have fun, but when one is working, one should have full concentration. Play can come after office hours or on weekends, but if you really want to succeed, you may have to work outside office hours too.
I will talk more in my next post. Have a good nite. =)