There are problems in all different types of jobs out there. Whether it is restaurant business, banking or retail many problems do rely. It is up to the managers and owners to fix the problems to better their company.
What the Problem Is:
-It is true that organizational problem does exist in the banking industry and it is important to identify several steps to implement as solutions to those problems.
-Problem Scenario: Commercial Loan Bank clients cannot enjoy quick and prompt service due to the fact that the Commercial Loan Senior Officer is rarely present and the Assistant Officer is not empowered to make decisions that would otherwise benefit the Bank and Client. Therefore, an organizational problem exists and solutions must be implemented.
Facts about the Problem:
-Senior Loan Officer holds all authority to sign and reauthorize new and existing commercial accounts.
-Senior Loan Officer works an average of 20 to 25 hours per week.
An Assistant Commercial Loan Officer works an average of 50 to 55 hours a week, therefore, is in a position to better serve clients.
-Possible solution which would control costs and improve quality control would be to empower the Assistant Loan Officer with the ability to authorize and reauthorize accounts.
-Possible solution would be to require the Senior Officer to work the same amount of hours to better serve clients.
-To better able to address the needs of commercial clients the Senior Officer forfeits a portion of his/her salary/ commission to the acting Assistant due to the fact that Assistant is in a better position to serve Bank Clients.
-Ensure that Senior Officer works a mandatory amount of hours commensurate with the ability to better serve the needs of bank clients.
Evaluating the Solution:
-Due to disparity between work and salary of the Senior Loan Officer and Assistant, One Third of the salary and commissions from the Senior Officer will be added to the salary of the Assistant Officer in the form of a year end bonus which will help control the overall costs of salaries paid out by the bank.
-Due to the disparity of weekly hours performed, the Senior Loan Officer will be required to work a mandatory of 45 to 50 hours per week, this act will further save and control costs because the Senior Loan Officer is a salaried position and therefore immune to over time pay.
-Assistant hours performed will be limited to no more than 40 hours per week, this will further control costs by limiting the amount of overtime paid out to the Assistant which is paid an hourly wage.
-Feedback will be based on the support and suggestions from clients served which support the idea of longer hours for greater visibility between clients and Senior Loan Officer.
-A 90 day window of observation will be considered to evaluate and take any corrective action. It is important to give new things time and then review how it is progressing.
-Shared computer technology relating to the development of commercial loans will be shared between the Senior and Assistant Loan Officers to ensure better and more efficient processing of loan information.