BDM and broker relationship a 'two way street', she says
BDM in the Spotlight and State Manager in the Spotlight are a regular series, giving brokers insight into the lives of some of the country’s leading relationship managers.
MPA spoke to Bankwest broker development manager Julia Cosentino about her favourite part of the job, what sets successful brokers apart and how Bankwest helps brokers with clients rolling off fixed interest rates.
Julia has worked in the industry for 16 years – all of which have been with Bankwest.
This year, her main goal is to find new and engaging ways to educate Bankwest broker partners on its products, policies and processes, catering to their busy schedules.
“I’d like every broker who sits in my portfolio to be confident about our offering and service when presenting Bankwest as an option to clients,” she said.
Name: Julia Cosentino
Title: Broker development manager
Years in the industry: 16
Company: Bankwest
Location: Western Australia
- Briefly describe your role and how you support brokers
My role is to understand the business needs and goals of brokers within my portfolio and to ensure that I actively and regularly engage with them on Bankwest’s offering.
I take a holistic approach and one that is relevant to the nature of the business brokers write, and their prospective and existing clients.
In addition to conducting face-to-face appointments, I facilitate online group training sessions and issue weekly email updates and reminders, including service levels.
It's important to me that the brokers I look after know that they can contact me if needed – and that I can tolerate some light-hearted banter!
I regularly remind my group that they have access to our employee health and wellbeing assistance program, a confidential service which we extend to Bankwest accredited brokers free of charge.
- What’s your favourite part of the job?
The people – I’m a people person and I enjoy helping others.
I love getting to know the brokers within my portfolio and helping them to identify solutions for their clients.
I feel very privileged to be the “voice for broker” within Bankwest. I sometimes joke that I’m a cross between Mother Teresa and Erin Brockovich – I can never say “no” without ensuring I have challenged process and policy and have asked “why not?”
Bankwest is committed to being Australia’s best broker bank. I believe it’s imperative to listen, understand what brokers are telling us and share that feedback internally, to ensure our offering is relevant to what the market needs and wants.
Our broker partners have taught me a lot about the industry.
- What sets successful brokers apart?
While the definition of success is different for everyone, successful brokers place their client at the centre of what they do.
They take the time to understand their needs and help them not only today but over the long term.
Whether they are helping clients to buy their first home, upgrade, restructure for cash flow or completing rate reviews, brokers derive huge benefit from using the tools available to them.
For example, our broker portal enables brokers to determine if Bankwest is a suitable option. Post-submission, brokers are able to view and manage their existing client book and have direct access to pricing.
Bankwest’s pricing tool can be used for both new lending and retention, to ensure clients are on the best current rate.
Brokers who actively manage their back book tend to run strong and successful businesses.
- How can brokers facilitate the approval process?
The “application submission checklist” within the Bankwest broker portal has been revamped and now includes hyperlinks to forms and information.
It covers off different scenarios to assist brokers with the key documents required to facilitate an efficient lodgement process.
- What should brokers demand from a BDM and lender relationship?
It’s a two-way street – there should be mutual respect, trust, and a willingness to work together to find an outcome for the client.
As a Bankwest BDM, I think it’s vital to provide brokers with a timely, accurate response and to be transparent. In the unlikely event that things don’t go as planned, it is important that a BDM works with the broker to determine the way forward.
- How is Bankwest helping brokers with clients rolling off fixed rates this year?
The current economic environment is posing financial challenges for many people in the community, including some of our customers. We’re committed to supporting the homeowners of today and tomorrow.
Bankwest uses data and analytics to proactively identify customers who could face financial challenges and works with brokers to support them.
If brokers are concerned about a client’s financial situation, we encourage them to contact us as soon as possible to enable us to provide support.
Our customer care and financial hardship teams are equipped to support customers in vulnerable financial positions by understanding and providing solutions tailored to their individual circumstances, such as repricing.
Additionally, the Bankwest broker portal provides automated solutions, such as the ability to submit a repricing request.
- Describe your ideal weekend
I have an eight-year-old son who keeps me busy. In my spare time, I can be found at the beach, enjoying a cold beer out with friends, or trying to learn new things.
I enjoy taking my son to places where he can learn gratitude and experience other cultures. Our last big trip was Sri Lanka, and I am hoping to visit India one day.
BDM in the Spotlight and State Manager in the Spotlight are a regular MPA series. Recent BDMs featured include ORDE Financial BDM NSW/ACT Zac Speth, AMP Bank senior BDM Sonia Partol and ubank state manager for QLD, WA, SA and NT Sarah Madigan.
