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Post by Deleted on Nov 23, 2015 8:02:15 GMT
working days? No answer reqd.
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ianj
Member of DD Central
Posts: 656 
Likes: 520
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Post by ianj on Nov 23, 2015 8:12:35 GMT
There should be a minimum of 2 days between notification and draw down. Clarification please. What do AC consider notification to be? Is the mere presence in Upcoming Loans to be taken as notice, assuming loans only ever appear once underwriting has been called, or do we go by the estimated drawdown date, which in the case of #216 bore no relation to what actually happened? On Friday I was cursing because I'd made money available for a quick drawdown, only to discover later in the day (following the AC email received 15:57) that the loan details were telling me I was a week too early! 
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Post by chris on Nov 23, 2015 8:29:03 GMT
There should be a minimum of 2 days between notification and draw down. Clarification please. What do AC consider notification to be? Is the mere presence in Upcoming Loans to be taken as notice, assuming loans only ever appear once underwriting has been called, or do we go by the estimated drawdown date, which in the case of #216 bore no relation to what actually happened? On Friday I was cursing because I'd made money available for a quick drawdown, only to discover later in the day (following the AC email received 15:57) that the loan details were telling me I was a week too early! An email should be sent out as the loan is made visible. I've sent a discussion email to the rest of the exec and management team asking for clarification of the process, as it's clear it wasn't followed in the case of #216. Once that process is confirmed back to me no one in the management team will have an excuse for not following it.
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Post by Deleted on Nov 23, 2015 9:34:06 GMT
Chris are you following ISO 9001 or equiv.?
You would find it a logical way to control your Soft-people procedures which seem to be creaking.
Thanks for being so transparent BTW.
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Post by andrewholgate on Nov 23, 2015 10:05:08 GMT
All
We are working on this at present. We are committed to "Fairer" and as I have said before without your support we wouldn't be at the level we are today. We remain committed to you.
I'll update later this week / early next week. Until then, no further comments from me.
A
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Post by chris on Nov 23, 2015 12:02:01 GMT
Chris are you following ISO 9001 or equiv.? You would find it a logical way to control your Soft-people procedures which seem to be creaking. Thanks for being so transparent BTW. I'm in a satellite office 200 miles away from the main Manchester office, so sometimes I can be a bit remote from the processes and procedures up in head office. Being a director I get insight into the strategic decisions being made but not always how they're implemented on the ground. As such where you and I see creaks it's usually an edge case where the bulk of the rest of the time things are humming along as they should.
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Post by andrewholgate on Nov 23, 2015 12:44:15 GMT
Chris are you following ISO 9001 or equiv.? You would find it a logical way to control your Soft-people procedures which seem to be creaking. Thanks for being so transparent BTW. At his age chris is more likely to use GRECIAN 2000
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Post by Deleted on Nov 23, 2015 13:53:08 GMT
Chris are you following ISO 9001 or equiv.? You would find it a logical way to control your Soft-people procedures which seem to be creaking. Thanks for being so transparent BTW. I'm in a satellite office 200 miles away from the main Manchester office, so sometimes I can be a bit remote from the processes and procedures up in head office. Being a director I get insight into the strategic decisions being made but not always how they're implemented on the ground. As such where you and I see creaks it's usually an edge case where the bulk of the rest of the time things are humming along as they should. Chris, I'd go with your views if AC was buried in deals like FC is. Given the scale (and the multiple pieces of evidence I've seen in the past year) I'm guessing you just havn't got a quality management process in place. That is a Director's thing to insist on but not to manage.
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Post by chris on Nov 23, 2015 13:59:53 GMT
I'm in a satellite office 200 miles away from the main Manchester office, so sometimes I can be a bit remote from the processes and procedures up in head office. Being a director I get insight into the strategic decisions being made but not always how they're implemented on the ground. As such where you and I see creaks it's usually an edge case where the bulk of the rest of the time things are humming along as they should. Chris, I'd go with your views if AC was buried in deals like FC is. Given the scale (and the multiple pieces of evidence I've seen in the past year) I'm guessing you just havn't got a quality management process in place. That is a Director's thing to insist on but not to manage. Currently much of the team is buried in deals. Either way andrewholgate who has operational control over the sales team is aware of this thread and will do what is necessary to make things right internally. The board are aware and watching.
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Nov 23, 2015 14:05:27 GMT
"Currently much of the team is buried in deals...."
Ha!
Wish we were!
Give 'em all a bonus banana ration!!!  
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Post by chris on Nov 23, 2015 14:29:17 GMT
"Currently much of the team is buried in deals...."
Ha!
Wish we were!
Give 'em all a bonus banana ration!!!
Over the last 6/7 weeks we've originated around as much as the previous 6 / 7 months. What I don't know yet is the conversion rate or time to draw down of that as there has been a marked departure from our previous origination strategy.
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Post by Ton ⓉⓞⓃ on Nov 23, 2015 14:41:25 GMT
"Currently much of the team is buried in deals...."
Ha!
Wish we were!
Give 'em all a bonus banana ration!!!
Over the last 6/7 weeks we've originated around as much as the previous 6 / 7 months. What I don't know yet is the conversion rate or time to draw down of that as there has been a marked departure from our previous origination strategy. Is the "marked departure" likely to affect the probability default etc as these loans mature?
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Post by chris on Nov 23, 2015 14:44:29 GMT
Over the last 6/7 weeks we've originated around as much as the previous 6 / 7 months. What I don't know yet is the conversion rate or time to draw down of that as there has been a marked departure from our previous origination strategy. Is the "marked departure" likely to affect the probability default etc as these loans mature? Not in the slightest. We'll not compromise on our quality.
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Post by Deleted on Nov 23, 2015 16:08:51 GMT
Currently much of the team is buried in deals. That is why you need a management quality process, so when the tough gets going the process stays fixed. I think I know a good quality guy in Manchester area, but not sure what he is doing, if you message me I'll give you a link and let you progress
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on Nov 23, 2015 17:56:16 GMT
You can add "... and then cancelling lender's existing instructions so that they receive £0 of the amount they requested ..." given the drought of available loans.
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