 | Topic: Institutions and Markets (Loan Covenants)
Characters: Sara, A branch manager at a large commercial bank
As a young branch manager at a relatively small retail office within a large bank holding
company, Sara has been challenged by her superiors to increase loan and deposit volume
within her local banking market. In Sara’s first year on the job, she has designed and
implemented an aggressive calling program in which she visits local businesses and solicits
new corporate accounts for the bank. Her initial efforts have been most successful. In spite
of strong competition from other local financial institutions, Sara has managed to land a new
$2 million deposit account from a local apartment management firm, Silver Valley Estates,
and she is currently negotiating with Silver Valley’s president to provide a $300,000
mortgage loan for his new personal residence.
After a recent credit committee meeting at the bank’s regional headquarters where Sara
presented the mortgage loan request and received approval from the bank’s senior leaders for
this loan, Sara is called to her boss’s office. She can hardly contain her excitement in
greeting her boss, telling him of the new mortgage loan she is planning to make. Upon
hearing the news, Sara’s boss frowns and tells her of a mistake that occurred in the bank’s
deposit operations center several weeks ago.
It seems a group of checks worth $20,000 deposited into Silver Valley’s rental collection
account two months ago were returned to the bank for nonsufficient funds by the Federal
Reserve. Instead of promptly deducting the bad checks from Silver Valley’s account and
returning them to the firm, one of the deposit operations clerks at the bank inadvertently
placed the checks in his bottom desk drawer and forgot about them. After several weeks, the
bank’s auditors located the checks, and now Sara must debit Silver Valley’s account and
return the checks to the firm.
Sara protests to her boss that this action would clearly be wrong, because the bank’s written
policy states that checks accepted for deposit cannot be returned after the tenth business day
following their date of deposit. In addition, Sara explains that one condition of the bank’s
mortgage loan approval to Silver Valley’s president is that the firm must maintain a major
deposit account with Sara’s branch. She knows that if she charges the Silver Valley account
for the bad check loss, she will anger Silver Valley’s president, lose the $2 million deposit
account and the new mortgage loan, and sacrifice all future business from Silver Valley to
competing financial institutions in her local market.
Sara’s boss claims that he understands her dilemma, but he is adamant in his instruction to
her. The bank cannot afford a $20,000 loss to a new corporate depositor, and she must debit
Silver Valley’s account to cover the bad check loss. Moreover, Sara is quietly warned that
discussing this matter with any other senior officers of the bank will prove most damaging to
her career. What should she do?
1 answer - Asked By: baongoclsai - 10/22/2009 |
 | Ok... I have moved around a little over the past few years. I lived in Florida for about 6 1/2 years. I did move to Montana for a year to take care of my mother after a near-fatal accident. I moved back to FL, then my spouse's job took us to Portland, OR in March, 2008. Unfortunately, after our cross-country move, the company had layoffs and we couldn't survive on my salary alone in Portland. We are regrouping in Lafayette, LA where we have family and a much more affordable lifestyle. Both of us dislike it here very much, and miss the Northwest like crazy. We are looking at the Seattle area instead of Portland because the economy in Seattle is more sound. Resume below. I did not list my name, address or phone number for privacy reasons. If you would like to contact me, please reply to this question. Thank you!
__________________________________________________________
Experienced, successful, motivated Banking, Sales and Customer Relations manager with:
• 7+ years in Management
• 8+ years in Training and Team Building
• 12 years in Customer Relations
• 10 years in Sales
• Consistently led branch/store to receive nation-wide sales and customer relations rewards and recognition
• Customer/Client Relations expert
SUMMARY OF EXPERIENCE:
MANAGEMENT:
• ACTING BRANCH MANAGER 60-75?f the time, overseeing 2 branches for four months during a company transition; Store Manager for a large, successful cellular telephone company
• EMPLOYEE RELATIONS AND STAFF MANAGEMENT – Interviewing, hiring, employee performance reviews, disciplinary assessments and action, terminations, scheduling, coaching for better performance, behaviors, and time management
• TRAINING – Oversaw all training for my bank branches and stores, including federal regulations and compliance training, new-hire training, customer service and sales training, and staff-coach training
• OPERATIONS AND AUDITS – Maintained compliance records, created new branch-specific compliance policies that brought audit scores up and allowed for better organization in the branches, audited teller staff and coached to better results, forecasted cash needs, ordered and shipped cash inventories
• SALES AND CUSTOMER RELATIONS – Coached 7 to 15 employees to maximize sales and referral opportunities and to exceed customer loyalty goals, achieved recognition for success every quarter by building and maintaining a successful staff to stay among the top performers in the region, and reaching the highest standards in nation-wide performance and success, oversaw and wrote sales scripts
SALES AND CUSTOMER RELATIONS:
• TOP SALES PERFORMER – Consistently a top performer, receiving recognition for sales performance
• BANKING SALES – New accounts, including checking, savings and other savings products, loan officer, receiving top investment and mortgage referral recognition, coaching the teller staff for quality referral opportunities
• RETAIL SALES – Consistently a top performer selling home phone, internet, and wireless service, sold clothes and shoes for a high-end retailer, and sporting goods for a local retail and wholesale sporting goods company
• CUSTOMER LOYALTY – Built new and maintained long-lasting client relationships, always achieving top customer loyalty and service scores, continually followed up with customers to ensure a strong relationship
EMPLOYMENT HISTORY:
ASSISTANT BRANCH MANAGER – US Bank
Hillsboro, OR – 05/2008 – 08/2008
ASSISTANT BRANCH MANAGER II – Wells Fargo Bank
Billings, MT – 07/2006 – 05/2007
TELLER OPERATIONS MANAGER – Bank of America*
Sarasota, FL – 09/2005 – 03/2008
PERSONAL BANKER – Bank of America*
St Petersburg, FL – Promoted to next
STORE MANAGER – AT&T/Alpha Comm
Bradenton, FL – 09/2004 – 09/2005
WIRELESS MANAGER – Verizon
Clearwater, FL – 09/2002 – 09/2004
I search online daily. I have my resume posted on Monster.com and a few other sites. Please do not tell me which sites to search or papers, I'm already doing that. Thank you. :-)
1 answer - Asked By: FireStormCW - 1/27/2009 |