Headache #1: Handling consumer complaints
Regulators have advised bankers to review how they handle consumer complaints. How does your bank’s process work?
Remedy 1
Donna Petrocco, president and COO, Valley Bank & Trust, $233.6 million-assets, Brighton, Colo.
I always see customer complaints as training opportunities. Years ago we created a “Customer Complaint” form that is filled out by any bank employee who is taking a complaint, whether in person, on the phone, or via email.
The form is filled out completely and forwarded to the appropriate supervisor, with copies to our compliance officer and myself. I hold onto them for about one week, then follow up with the team members that are involved. About half the time, I will follow up with the customer to make sure that they are satisfied with the outcome. If the matter is a customer service issue, I always follow up with both the customer and the team member.
Remedy 2
Blair Hillyer, chairman, president, and CEO, First National Bank, $163.2 million-assets, Dennison, Ohio.
Most of our customer complaints are handled very promptly and satisfactorily by our customer service representatives. Once in a while, the customer is still not satisfied and a senior officer gets involved. I end up in several each year directly or indirectly, but they tend to be unusual situations.
Headache #2: “Productivity” Tools
PDAs are everywhere. Are they more help than distraction?
Remedy 1
Mike Murphy, executive vice-president and CFO, First American Bank, $294.7 million-assets, Norman, Okla.
I love my Blackberry—usually. Recently, I attended the ABA’s Government Relations Summit. While there, I was able to answer most emails or redirect the messages. As I receive an average of 60-70 per day, it would have been a great burden when I returned to work to face that mountain of email and the quality and timeliness of my responses would have obviously suffered. I say, “usually,” as I sometimes find myself checking my messages when I need to focus on other things that are truly more important, such as a speaker, a meeting, or my family. At times, I have found I must simply turn it off so I don’t see that blinking red light.
Remedy 2
Larry Myers, president and CEO, First Savings Bank, FSB, $490.7 million-assets, Clarksville, Ind.
All of our senior staff has a PDA. To reduce the distraction, we do not text or email during conferences and meetings. I believe these devices improve efficiencies by allowing us to respond to emails during normal “down times,” like waiting on appointments or between meetings.
On the email issue, we make sure that we limit the “reply to all” and/or blasting out emails to everyone that only pertain to a limited number of people.
Headache #3: Boardroom morale
Have you taken special steps with your directors or trustees?
Remedy 1
Blair Hillyer, First National Bank
Morale has been tough for about two years now. Generally, the board understands the issues and we have done our best to keep them updated on specific problem loans, changes in regulatory guidance, FDIC premium increases, and the effects each will have on our business. They are frustrated, I think, that they can’t do more to affect immediate change. Such is life in a deep recession.
Remedy 2
Larry Myers, First Savings Bank
Communication is the biggest issue when you talk about morale. I try to provide a weekly update to our directors to keep them in the loop on new deals, lost business, the competition, the ABA, etc. The more we communicate, the better they feel about things.
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Additional remedies can be found at ababj.com/blog/277.html
The electronic version of this article available at: http://www.nxtbook.com/nxtbooks/sb/ababj0510/index.php?startid=24
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