Becoming A Universal Banker

Transcription

1 Becoming A Universal Banker Presented For: Loveland, Colorado ITQuestions@q.com

2 The information provided in this program is general in nature. It is one individual s opinions, research and experiences. It is not designed or intended to be used as procedures or policies for an organizations manual/s. The intent is to educate individuals and to get them thinking regarding a particular subject. No legal advice is provided nor is any interpretation of the law intended. This material does not override any existing policies and/or procedures for an organization. All organizations need to refer to their own legal counsel for specifics for their organization as this material relates to both the participant and the organization. Participants agree to hold harmless the organization and presenter of this program. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 1

3 TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 2

4 The Banker Of The Future - Becoming A Universal Banker For a bank to be successful not only must they bring in new business, they must retain their existing customers. Additionally, they must also get customers to use the financial products and services they truly need. To accomplish this, there is a critical key and that key. Employees must be well trained, knowledgeable and who understand the banking industry. With this in mind, we see a change in the traditional role of employees. Employee s roles are going from working in one area, such as new accounts, tellers, or customer service to becoming well rounded employees with the ability to work in multiple roles. To accomplish this task requires several things to occur. It requires employees who understand why being versatile is so important. It requires a commitment from management to provide employees quality training so employees have more than just a brief exposure to the various roles required of a universal banker. Specific topics to be covered include: Why Being A Universal Banker Is Important The Pro s And Con s Of Being A Universal Banker The Role Of The Universal Banker The Skills Required Of A Universal Banker Steps An Employee Can Take To Gain The Skills Required Avoiding The One Pitfall In Becoming A Universal Banker Participants will walk away with a plan of action and specific tools to become the Universal Banker of today. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 3

5 Objective My objective is This webinar provides employees, both supervisors and staff, with the knowledge of the expectations of a universal banker along with the skills required to work effectively in that capacity. There is no conversation more boring than the one where everybody agrees. Michael de Montaigne Why Being A Universal Banker Is Important So you re a banker? If you told this to someone in the past, their reply most likely was, Oh, banker s hours! Bankers were seen as having cushy jobs with great working hours. That was then and now, it has changed and will continue to change. But what was the cause? The change was caused by de-regulation of the banking industry in With de-regulation bankers have changed roles from order taker to a role of actively soliciting new business. Competition within the financial industry has grown. To stay competitive, an institution must offer fast, efficient service and competitive products. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 4

6 Why Being A Universal Banker Is Important Why then, is the role of becoming a universal banker so important? There are several factors and issues involved. They include: Staffing Has Been Reduced Focus On FTE Expanded Role Of Technology The Need To Improve Customer Service Throughout the industry, supervisors have heard over and over, we have to do more with less. Because of this one critical factor, having employees who are well rounded, and versed in doing multiple jobs, is better. Is this a totally new concept? No. For decades employees working in the credit union industry, have been universal in their roles as bankers. For decades bankers have cross-trained employees but not given employees any special title. So this concept is not that new. What do we gain by having universal bankers? Quality Customer Service Reduced Cost More Motivated Employees Improved Employee Morale Greater Flexibility TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 5

7 The Pro s And Con s Of Being A Universal Banker As with anything in life, there are pro s and con s to being a universal banker. Let s take a look at exactly what they are. Pro s Con s The Role Of The Universal Banker Exactly what is the role of the universal banker? The role is one with two major goals. They are: Flexibility Versatility When employees are versatile and have the ability to move effectively from one job to another because they are flexible, improved customer service occurs. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 6

8 The Skills Required Of A Universal Banker Giving someone a title of Universal Banker, and having that individual actually function in that capacity are two totally different things. The reason for this is many supervisors, and those in management, think giving the individual the title also gives them the ability. There is nothing further from the truth. What are the specific skills required to be a universal banker? The general skills fall into two categories. They are: Now let s look at the specifics. There are seven sets of skills one must master. This is important to understand. Having a little knowledge is a recipe for disaster. What are the skills required? They are: TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 7

9 The First Two Skill Sets The first two skill sets that are needed, are not specific to being a universal banker, they are skills an individual needs to be successful in life. They are skills used in everything one does, on a day to day basis. These two skills are: Communication The Key To All Situations Not a day goes by that we are not involved with communicating. Done effectively, things run smoothly. Done ineffectively, challenging situations arise. But what is communication? Communication is defined as: A giving or exchanging of information, signals, or messages by talk, gestures, writing, etc. Communication involves three elements: A Sender, Transmitting A Message A Receiver, Receiving The Message A Response From The Receiver Confirming The Message Was Received Now that we understand the three components of communication, let s look at the ways we can communicate. There are three methods of communication. They are: The Written Word The Spoken Word Visual Communication Body Language TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 8

10 Methods Of Communication Of the three methods of communication, which do you believe is most effective or has the greatest impact and why? With this in mind, let s look at what diminishes effective communication. Effective communication is diminished when: Receiver Hears Only What He/She Expects To Hear Receiver Sees Only What He/She Expects To See Receiver Evaluates Source Receiver Obtains Conflicting Information Emotions Get Involved Words Are Given Different Definitions Noise Or Other Barriers Block The Message TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 9

11 Keys to Good Listening Here are some of the Keys to Good Listening! Levels Of Communication In communicating, remember the CAP principal: C - Child A - Adult P - Parent This principal is also referred to as Transactional Analysis. In each role, certain behaviors are displayed. The CHILD The ADULT The PARENT Needs and Wants Gives and Receives Tells and Comforts You C A P Customer C A P TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 10

12 Words And Phrases To Avoid And Eliminate Some words create a positive feeling while others create negative emotion. Let s look at the words, phrases, and actions that impact the communication process in a negative manner and how to eliminate them, whether it is on the phone or with the customer in the office. One thing we absolutely cannot afford to do is to provide excuses, excuses, and more excuses. Eliminate Replace With Try - Policy or Procedure - I don't know - I'm new - Negative body language - No - Generalities - Personalities - Fallacies - Probably - May, Maybe or Might - I think - To be honest - TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 11

13 Words And Phrases To Avoid And Eliminate Continued Eliminate Replace With Can you hold? - I can t - Hold on He/she is tied up - He/she is occupied - Just a second - You have to or You can - Can I ask who is calling? I forgot - Oops or Whoops - They said - Management said - The key is to use words that convey a positive, helpful, and truthful picture. You must be careful using judgmental words, weasel words, or phrases. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 12

14 Time Management 86,400 seconds is all we have in a day. No one on the planet has any more time than that. How one utilizes one s time is the key. In the role of a universal banker, or for that matter, in any role, managing one s time is critical. In order to manage our time we must understand what time is and as well, what time is not. We have all heard the Time related clichés; I don't have time. I never have enough time. Boy, how time flies. That sure saved me some time. I wish I had more time. Webster's dictionary defines time as: Time management can be defined as: The Period Between Two Events Or During Which Something Exists, Happens, Or Acts. Using a predetermined group of guidelines to structure the time you spend on various activities. The goal of time management is very simple, EFFICIENCY AND EFFECTIVENESS! Time is a valuable resource. You must use it wisely. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 13

15 Time Management Norman Kobert, author of Managing Time states: Improve the way you use your time and you will be a more effective manager -- with all the advancement and rewards that come to top performers. It is inevitable. What do you gain by managing your time? Rewards! Do More Work In Less Time Accomplish More Of The Right Kind Of Work Do The Things You Want To Do Phenomenal time management involves one main step! Setting Priorities Prioritizing Prioritizing is critical because it determines what we feel is most important. It brings to the forefront the adage Do First Things First! This is also the most difficult part of effective time management. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 14

16 Skill Set Number Three The third skill set is that of a teller. Considering the vast majority of customers only deal with tellers, makes this role the backbone of a bank. Specific skills and understanding needed include: TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 15

17 Skill Set Number Four The fourth skill set is that of head teller, lead teller or vault teller. These titles are basically for the same job function. Some organizations use one over the other. In this role, the basic skills of being a teller are required, those mentioned above, along with the following. This becomes an expanded role, with the need for greater flexibility, since one is interrupted more frequently by other staff. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 16

18 Skill Set Number Five The fifth skill set is that of safe deposit and is one that has changed. From the days of having one or possibly two employees specifically assigned to that function, when now the job function is handled by whomever is available. Skills often handled in this role include: Skill Set Number Six The sixth skill set needed, is that of new accounts. Of all the skill sets needed to become a universal banker, this is the second most challenging and difficult to master. To understand why, let s turn the page, and turn back the clock, to pre TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 17

19 Skill Set Number Six Cont. Prior to 1980 the number of products and services offered by banks and other financial institutions was at best, minimal. There were a handful of products and we as bankers were no more than order takers. We waited for the customer to come to us. Since 1980 that role has changed and the number of products and services has increased dramatically. So what were and what are the products offered by banks? Pre 1980 That was the full extent of what was offered. Now let s turn the page, and turn the clock forward. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 18

20 Skill Set Number Six Cont. Fast forward from 1980 to the present. What are the products and services offered by banks today? They include: Post 1980 As one can see, the number of products and services offered has grown dramatically. Because of this, this position is even more complex and involved and one that takes significantly more time to master. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 19

21 Skill Set Number Seven As one continues to grow in their role of banker, the next common step is entering the world of consumer lending. Banks generally can be divided into two functions. They are: Operations Lending Up to this point the skill sets have all been operational in nature. Crossing over to the other side means entering the world of lending. Learning the skills of lending is and always will be the most challenging and difficult to learn. Why? All the previous roles were and are very black and white. Credits and Debits. In the role of lending things are not black and white. There is a huge amount of grey. What are the skills required in this role? They include: TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 20

22 Steps An Employee Can Take To Gain The Skills Required What can an employee do to gain the skills required to become an effective universal banker. Employees can: The key here is not to wait until someone comes to you, but to take the initiative to learn. Avoiding The One Pitfall In Becoming A Universal Banker There is however, one major potential pitfall in becoming a universal banker. That pitfall is: This is without question, the greatest pitfall. How do we avoid this pitfall? The answer is not that difficult. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 21

23 What Is Quality Training Quality training is extremely different than what some call training. Quality training takes time, resources, patience, and knowing the end result is well worth the process. What is involved with quality training? When Is The Best Time To Cross-Train? How To Cross-Train For Results Timing is everything, so the old saying goes and with cross-training it is no different. There are good times and there are bad times for cross-training. How do you determine when to cross-train? Three areas need to be analyzed in determining your cross-training schedule. They are: Your Staffing Your Vacation Schedule Your Customer Service Periods Looking at the big picture helps you apply the information you obtained in analyzing when to cross-train. The big picture is no more than a yearly calendar. TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 22

24 Determining The Topics For Cross-Training: This step, along with who gets cross-trained, is like the chicken and the egg. Which comes first? To determine the topics for cross-training, a supervisor must know all of the job duties for each and every position within their work area. This can sometimes be accomplished by reviewing written job descriptions. Written job descriptions provide: Specific Duties For A Position The Level Of The Position The Experience Required For The Position Once that is understood for each job one must... Determine What Each Employee Knows How is this task accomplished? There are two ways: Review Employee s Personnel Files Survey Each Employee Either Orally Or In Writing TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 23

25 Surveying Each Employee: How To Cross-Train For Results One method to gather the needed information is to use an employee questionnaire. Once you have gathered all of the information you need to prioritize: The Job Function Needing Coverage The Individuals To Be Cross-Trained How to Cross-Train for Results Once you have your training schedule established, all that is left to do is implement it. There is a simple six step method for doing this. Implementing Cross-Training A six step implementation process is: 1- Convey The Program To All Employees 2- Trainers Instructions 3- Trainees Instructions 4- Time Frame 5- Progress Reports 6- Conclusion & Evaluation TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 24

26 Common Cross-Training Mistakes For your cross-training to be effective, certain common mistakes must be avoided. These mistakes are often made, but can be eliminated. Common mistakes are: No Cross-Training Plan No Support From Management Failure To Analyze Employees Skill Levels Failure To Communicate Objectives, Time Frame And Goals Pulling A Trainee Away From Training Lack Of Commitment On Supervisor s Part Sacrificing Long Term Gains For Short Term Gains Training With Unqualified Personnel Cross-training is a long term proposition. It takes time, money and a firm commitment. Sacrifice any of these and your cross-training program is headed for trouble. Follow this plan and you will find out that the time, money and commitment will more than pay for itself. In the end you have a win, win, win situation! TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 25

27 Conclusions There is no question having a team of employees who ultimately can do any job function in an office produces great results. Achieving this goal is the challenge. It does not come easily. Our road map includes: The Skills Needed To Become A Universal Banker Communication Time Management Teller Vault Teller/Lead Teller/Head Teller Safe Deposit New Accounts Consumer Lending What An Employee Can Do Read Manuals, Brochures, Etc. Take Training Classes Volunteer How To Achieve The Desired Result Quality Training Follow these steps and the end result is a banking office customers want to use. Take short cuts and what you end up with, is the greater probability customers go elsewhere. The only thing worse than training an employee and having them leave, is not training them and having them stay! TTS Web Universal Banker Copyright 2016 May Not Be Duplicated In Any Format 26