May 13, 2008

Credit

Using a Real Estate Lending Strategy (Part 2 of 4)

The commercial real estate market may be in better shape than the residential one plagued by subprime loan defaults, but loans to developers and investors are still at risk and banks could face hundreds of millions of dollars in losses as a result.

A step-by-step approach to real estate lending that covers assessing the borrower, assessing the market and property, analyzing repayment, and documenting and managing the loan can help lenders:

• Improve new underwriting for commercial real estate transactions,
  
• Enhance existing portfolio administration of commercial real estate loans,
  
• Reduce problem assets, and
  
• Shorten the turnaround time for commercial real estate requests due increased underwriting efficiency and better decision-making.

When assessing the market and property:

The borrower should be able to provide demographic information or a feasibility study to show support for a new project. Pre-leasing can also signal the level of demand for a new project. Existing properties can be assessed based on historical performance and market information on similar properties. Appraisals provide a lot of market data as well, but they are often not available until later in the process.

Look for the third step, Analyzing Repayment, next week.

Learn more about improving credit performance ...

Sales & Service

Scorecard Coaching Best Practices (Part 4 of 4)

Scorecard coaching (coaching direct reports to achieve outstanding and predictable results) is one of the primary responsibilities of managers at all levels in a customer-centric arena like sales and service. To have the greatest impact in scorecard coaching conversations, managers must master four specific coaching best practices, the fourth of which is:

Addressing Resistance

• Acknowledge the employee's concern
  
• Explore it with questions and listening
  
• Resolve the heart of the concern by providing information, positioning with benefits, and providing alternatives
  
• Check for satisfaction
  

Learn more about improving sales and service performance ...

Leadership

Effective Leader or Pushy Boss?

Effective leaders and pushy bosses are not one in the same. In most cases, pushy bosses use their authority to get people to do what they want. Effective leaders, on the other hand, rely on true leadership skills like:

Creating a can-do environment by making it easy for staff to head in the right direction because they want to, not because they have to.

Inspiring passion and excitement by making goals and objectives clear to staff, getting them excited about where the organization is going, and guiding them in working hard and achieving more than they thought possible.

Forgetting about authority by learning how to be a leader people want to follow not because they are forced to, but because they genuinely want to head down the same path to success.

Learn more about improving leadership performance ...

Featured Papers

A New Era in Retail Financial Services

Get your complimentary copy of Omega's guide to harnessing the profit potential in creating, advancing, and sustaining customer connections.
Download Now

Leading People Through Change

Available for download now is Omega's essential guide for building your change resilience, coaching your people to commitment, and increasing business results.
Download Now

Join Us Online for these Live Presentations

Corporate Finance:
Viewing Investment Decisions Through Your Customers' Eyes

May 15, 2008
More information and to register

Webcast Replays ...

The Profit Potential in Creating, Advancing, and Sustaining Customer Connections

Originallly aired March 25, 2008
More information and to download

Unraveling the Mysteries of K-1s and Pass-Throughs:
The Secret to Understanding U.S. Personal Tax Returns

Originallly aired April 15, 2008
More information and to download

Quick Links ...

Our Website | Events | Omega News | About Us | Complimentary Resources

May 7, 2008

Tip of the Week

Build Agent Confidence to Maximize Outbound Sales

Outbound calling can be a very successful strategy for building and retaining key customer relationships. When agents proactively contact customers with the goal of helping them gain the most out of their relationship with your organization, customers remain loyal and bring more of their business to you.

For some agents, outbound calling can be an uncomfortable experience. Here are three strategies for you to share with your agents to keep them motivated and confident when making outbound calls:

• Practice New Skills - Whether by rehearsing or experience on the job, fears will diminish as agents are exposed to new and different situations from which they can improve and build their competence and confidence.
• Prepare and Strategize - A strategy helps agents anticipate and prepare for their calls. Completing a pre-call action plan can provide agents with some sense of security and comfort, and help them approach their calls with confidence.
• Adjust Attitude - When agents examine how they feel and think about their sales role, they will feel less confused and better able to adjust to the tasks that make them uneasy.

Learn more about improving contact center performance ...

Feature Paper

Leading People Through Change
An Omega Performance resource to help you improve business.

Available for download now is our essential guide for building your change resilience, coaching your people to commitment, and increasing business results.

Get your complimentary copy now ...

Join Us Online for this Live Presentation

Corporate Finance:
Viewing Investment Decisions Through Your Customers' Eyes
May 15, 2008

More information and to register

Come See Omega

ICCM Canada Conference & Expo

When: October 8, 2008
Where: Toronto, Canada
Topic: Building Corporate Capability and Cutting Training Time through Product Knowledge Reference Tool
Speakers: Caroline Gray, Omega Performance Senior Vice President, Information Technology and Technology-Based Learning and Jeff Lachenauer, EQUI-VEST Training Manager for AXA Equitable

More information and to register

Quick Links ...

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April 10, 2008

Visit Omega's New & Improved Website, Featuring:

• Easier navigation so you can find what you need, fast
  
• A section focused exclusively on Community Banks
  
• Up-to-date global financial news all in one location

Take a look now

Performance Improvement Tip

4 Steps to Top Lending Performance

In order to deliver the results your community bank is seeking, lenders must develop a high level of competence, as well as apply sound, consistent standards in all of their risk analysis and decision-making.

Here are four strategies for building and maintaining a high-performing credit team:

1. Establish lending consistency. To effectively assess risk, make credit decisions, and manage credit relationships, lenders must adhere to a shared set of consistent, efficient, and reliable risk management techniques.
   
2. Diagnose your lenders' skill and knowledge deficiencies. Administer a credit skills assessment to identify individual lender's skill gaps and pinpoint skill-building opportunities based on your bank's benchmark for lender performance.
   
3. Strengthen your lenders' credit skills. Based on the assessment results, provide training so that each lender's skill gaps are closed and individual competency levels are raised to the same organizational standard.
   
4. Ensure lenders are using their new credit skills and knowledge. Regular, one-on-one coaching is necessary to reinforce the credit skills taught and confirm that they are being used consistently by lenders in their day-to-day risk management activities.

Learn more about improving community bank performance ...

Feature Paper

A New Era in Retail Financial Services
A complimentary Omega Performance resource to help you improve business.

Available for download now is Omega Performance's guide to harnessing the profit potential in creating, advancing, and sustaining customer connections.

Get your complimentary copy now ...

Complimentary Web Events

Join Us Online for these Live Presentations

Commercial Real Estate Loan Analysis
A Series of Four Instructional Web Seminars
April 22, 24, 29 and May 1, 2008
12:00 - 1:30 PM EDT (each session)
Fee: $695 U.S.
Facilitated by: Dr. Jerry Crigger, Senior Consultant: Credit and Risk
For more information and to register

Corporate Finance
Viewing Investment Decisions through your Customers' Eyes
May 15, 2008
12:00 - 1:00 PM EDT
Fee: Complimentary
Hosted by: Dr. Jerry Crigger, Senior Consultant: Credit and Risk and Vicki Martell, Vice President, Manager of Credit and Commercial Sales Products
For more information and to register

More events ...

Where to See Omega at ...

ABA Commercial Lending School
Southern Methodist University
April 17, 2008
Topic: Effective Negotiations
Facilitated by: Mark Faircloth, Omega Performance Vice President, Senior Consultant

Southeastern School of Commercial Lending
Nashville, TN
May 18-21, 2008
Topic: Commercial Lending
Facilitated by: Dr. Jerry Crigger, Senior Consultant, Credit and Risk

Southwestern Graduate School of Banking
Southern Methodist University
June 2-4, 2008
Topic: Relationship-Based Negotiations
Facilitated by: Mark Faircloth, Omega Performance Vice President, Senior Consultant

Graduate School of Banking
Louisiana State University
June 9-13, 2008
Topic: Growth Strategies for Banking Success
Facilitated by: Mark Faircloth, Omega Performance Vice President, Senior Consultant

Graduate School of Banking - Colorado
July 21-25, 2008
Topic: Credit Risk Management
Speaker: Dr. Jerry Crigger, Senior Consultant, Credit and Risk

Virginia School of Bank Management
University of Virginia
August 4-8, 2008
Topic: Relationship-Based Selling and Effective Negotiations
Facilitated by: Mark Faircloth, Omega Performance Vice President, Senior Consultant

More events ...

May 15, 2008

Performance Improvement Tip

Create Real and Genuine Member Experiences

Frontline staff are able to connect with members when they are professional and genuine. When staff:

1. Acknowledge the member immediately,
   
2. Stand, shake hands, smile, and make eye contact,
   
3. Introduce themselves,
   
4. Ask the member's name and use it,
   
5. Thank the member for coming and asking how they can help,

they convey a sense that they are genuinely glad to see the member and set the stage for delivering an outstanding member experience.

Learn more about improving your credit union's performance ...

Featured Paper

Leading People Through Change
An Omega Performance resource to help you improve business.

Available for download now is our essential guide for building your change resilience, coaching your people to commitment, and increasing business results.

Download now ...

Come See Omega

Business Lending and Other Business Services Conference
Williamsburg, VA
July 14, 2008
Topic: Building Successful Commercial Lending Strategies
Speaker: Dr. Jerry Crigger, Senior Consultant, Credit and Risk

Quick Links

Our Website | Events | Omega News | About Us | Complimentary Resources