Sean Wallace - Ambitious banking official looking to progress career

(Feb 07-Jan 08)Worked in a team of 6 people known as the LAF or Leveraged Acquisition Finance team
Main duty is dealing with loans for business clients where loan deals have been pre-approved with our loan officers
All loans dealt with within the team are usually part of a syndicate, where other financial institutions are involved in funding our clients for new/existing loans
We depend on contact from an agent bank via fax or by email, outlining the particular client's wishes for what is needed to be done with a loan.
The agent bank is the Leader in Syndicate, funds the biggest percentage of the loan. We (LAF team) are not the leader in any of our loans/deals
Loans can be paid up in full per their value date, repaid early (where breakage costs may apply), rolled on with just interest taken in, reduced or increased, whereby principal will also be repaid to us or the client may require further funding
New rate settings applied daily, relevant entries passed to reflect money coming in/going out and which accounts are used depending on currency, all monies are funded/positioned with Global Markets
Constant liaising with loan officers for advice, particularly when certain agent banks can't be contacted when problems arise. Notices not received, money outstanding etc.
Work with Reconciliations constantly to fix errors that are made or when money hasn't come in or hasn't been paid out. Wrong entries can be passed, money hasn't reached us, money can be paid out late
Extensions to limits for clients who require further funding and creating and setting up new clients all the time
(Jan-Dec 08) Worked on a project with regard to the implementation of a new loans system.
Main duties were as a 'data cleanser', whereby I would try to tidy up and make changes to client information/loan information that was wrong on the old system.
Regular tasks were handed out to me by my manager, deputy manager and more IT based individuals to help them with reports in preparation for the new system.
System implementation was phased and a small manual conversion occurred a few months before a complete automatic conversion to the new system.
With the manual conversion, changes could now be made by our lead syndicates team for deals where we were the agent bank.
The rest of the department was involved in the automatic conversion and although this was a big success, obviously not everything carried over smoothly.
After implementation, helped with changes that still needed to be made and other general tidy up.
(Dec 08-present) I am currently working on the Fees & Guarantees team.
I am currently passing letters of credit and learning how to pass fees for customers, as advised by our agent banks.
I am also asked to help with ad-hoc queries which arise from our control reports.

Dealing with incoming calls regarding queries with existing mortgages in a busy call centre
If aspects of certain queries could not be solved, customers were transferred to a colleague in another relevant section of the Dept.
Issuing of mortgage statements, certificates of interest, fixed rate options, general administrative letters and issuing copies of documents from client files
Moved into Business Retention, whereby I only dealt with calls from fellow colleagues and branch staff, who would refer customers to me.
Tried to retain business and to ascertain why a customer was leaving and was there some aspect of the business they were unhappy with?
The main problem was to do with interest rates. I would agree a lower rate that I could offer with my manager in cases like these. However I could not offer rates lower than our New Business rates.
Created a database of all clients that were thinking of leaving the Society, and with this information I would send a report to my manager/team leader each week.
Was then in charge of all aspects of direct debits such as setting up, amending details, cancellations
These duties are carried out subject to written authorisation from clients and their banks
Provide help and make suggestions to branches on how to advise clients and directly with clients myself with regard to other payment options.
Liaise with Credit Control section, as the Society is reluctant to cancel a client's direct debit as their account can or often will go into arrears.
Will pass clients on to Credit Control if clients have fallen behind in their repayments and wish to make new arrangements
Send all direct debit mandates to the banks at the end of each working month
Try to sort problems with fellow financial institutions with regard to issues arising with mutual clients
Issue unpaid direct debit letters once a month to those customers who pay their mortgage by direct debit and have missed their repayment.
Standing Order Recalls, Direct Debit Indemnity Claims, Refunds by money transfer or cheque