The Loan Officer is the business builder of the team. It is this person's responsibility to generate new business and maintain customer relationships once they are obtained. All of the mentioned designations report to the Team Leader whose primary duties are to bring in referrals, to sustain the relationship with existing customers, and to keep the entire team running smoothly. In order to preserve jobs, the entire team has to depend on both internal and external customers of the Commercial Lending department.
Internal Customers and Suppliers.
According to the book Operations Management: Strategy and Analysis, the notion of internal customers applies to all parts of a business and enhances cross-functional coordination between separate departments. This statement is true when applied to the Commercial Lending department of First National Bank of Arizona. Many of the employees who work in the Commercial Lending area do not have experience in other areas of the bank. As a result, the lending teams need to rely on the knowledge and expertise of other departments to build extensive relationships with new borrowers. These departments include: Merchant Services, where business customers can set up credit card accounts; Retail Banking, where individual and business customers can open demand, savings, money market and investment accounts; Treasury Management, where individual and business customers can set up lock boxes, off-site deposit, or internet banking; and Mortgage, where individuals can apply for a mortgage or a home equity loan or line of credit. These departments are who the lending area must respect and treat as their customer, otherwise the borrower may take their business elsewhere. .
Suppliers are the most significant component to the Commercial Lending department as they are the people who produce potential borrowers for the teams. The Loan Officers and Team Leaders do have a responsibility to cold-call businesses; however, referrals through suppliers are the most beneficial and efficient route to procreate bankable customers.
