The scenario: A potential customer wants a line of credit to support his business selling concert t-shirts. Knowing Your Customer or KYC is extremely important to prevent fraud and comply with regulations. KYC also enables you to provide your customers with superior service as you evaluate and assess potential loan and other non-credit opportunities—and the
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Does Your Bank Struggle to Find and Keep Quality Commercial Credit Analysts?
Does Your Bank Struggle to Find and Keep Quality Commercial Credit Analysts? Commercial credit analysts are in high demand. Smaller banks and credit unions in particular struggle to find and keep good candidates. Compounding the issue are two factors: Rurally-based banks—especially those with less than $10 billion in assets—don’t offer recent graduates and millennials the
READ MOREWhat’s the Cost of a Problem Loan?
What’s the Cost of a Problem Loan? A business owner comes in to your financial institution seeking a $2 million loan. She meets with one of your lenders, the underwriting process is completed, and the loan is approved. But what steps are you taking to ensure that your staff is appropriately evaluating industry, management, and
READ MOREMaking Up for Lost Experience
By 2025, many of your most seasoned employees will have retired or be retiring soon, and 75 percent of your workforce will be comprised of millennials. Though baby boomers, who are now in their late 60s and early 70s, have worked longer than previous generations, they are now beginning to retire at record rates. According
READ MORECredit Unions Thinking of Ramping Up Commercial Loan Opportunities
Credit Unions Thinking of Ramping Up Commercial Loan Opportunities With recent changes to member business lending rules, credit unions have new opportunities to target areas of commercial and business lending that were previously unavailable to them. According to an article by the Philadelphia Federal Reserve, credit unions have been increasing their market share since 1998,
READ MOREBest Training Methods for Ensuring that Lenders Retain and Gain Information
Best Training Methods for Ensuring that Lenders Retain and Gain Information Last week, Omega Performance hosted a webinar to encourage lending organizations to incorporate our Case Study Library into their training. This unique approach to case-based application is designed to help learners apply and expand their lending knowledge, and—when used in conjunction with foundational credit
READ MOREBank Simulation Training: Advantages of the Virtual Workspace
Simulation Learning: Advantages of the Virtual Workspace When you think of simulation learning, you probably think of flight simulators for pilots, or medical simulations for healthcare workers. But what about simulation learning to help your financial institution’s employees become better lenders? Simulation is the artificial representation of a real-world process. It can help learners develop
READ MOREOmega Performance Releases New Case Studies Based on Your Feedback
Omega Performance Releases New Case Studies Based on Your Feedback Omega Performance continuously strives to provide you with high-caliber content. As part of that, we often reach out to our clients to find out how we can best meet their training needs. We recently surveyed our clients about the kinds of Case Studies they’d like
READ MOREMaster the Asset Conversion Cycle
Master the Asset Conversion Cycle The Asset Conversion Cycle is made up of two separate and unique cycles that cover the short term, or working assets of the business, and the longer term assets of the business. Let’s examine both cycles more closely. The first cycle, and most important in my opinion, is the Operating
READ MORECredit Skills Assessment Course Accredited by the Chartered Banker Institute
Credit Skills Assessment Course Accredited by the Chartered Banker Institue The Omega Performance Credit Skills Assessment (CSA) training program- a combination of two of our flagship courses – Financial Accounting for Lenders and Commercial Loans to Business is now formally accredited by the esteemed Chartered Banker Institute. *UPDATE* As of December 2018, Omega Performance no
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