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FINANCE CASE

FINANCE CASE

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FINANCE CASE STUDY-ASSIGNMENT 3

Assignment 3 Theory assignment

Gathering the information required when establishing the client’s complex lending requirements: gathering information is very important to understand the requirements of the clients. According to Del Negro & Sims (2015), it is utmost important to build relationship with the client as it creates the atmosphere required for the task. It is also important to understand the viewpoint of the client so as to understand their lending requirements. It requires a disciplined professional behaviour and strong interpersonal communication skills to strengthen the bonding between the client and the service provider.

Recording and documenting the interaction with clients: recording the details while interacting with the client is very important as it provides better understanding of client’s view. Recording and documentation can be done by preparing templates to collect information in initial interview, maintaining diaries to collect every small details and recording telephone conversations. In the opinion of Van Den End & Kruidhof (2013), various technologies and specialised software are used for documentation. All the legal documents and papers regarding the proposed transaction also need to be included in records.

Research and consideration of complex broking solutions based on client’s needs: the analyses of client’s situation is very important. It helps to determine all the possible opportunities and barriers that may arise while applying for the loan. Discussing and reviewing client’s situation and clarifying the complex features is also important to provide broking solutions to the client. Preparing loan model and analysing loan structure is also important in order to reject the inappropriate options and it also helps in ensuring compliance with relevant acts.

Identifying and managing risks while dealing with clients with complex loan requirements: while dealing with the complex loan requirements of the client, it is very important to identify all the risks and determine the level of risk by various risk assessment tools such as, valuation practices and prioritizing threats. Noor & Lodhi (2015) has commended that these risks can be managed by discussing and preparing a risk management strategy to reduce the probability of risk.

Presenting loan options to the client's: Few loan options (showing the merits, demerits, risks and financial implications of the loans) should be prepared for the client. It should also indicate all the fees, charges and commission paid by the lender to the broker. All the professional parties such as, accountant, lawyers, valuers must be consulted before choosing one loan option. It is the responsibility of the broker to make sure that the client understands all the aspects of presented options and all the concerns addressed.

Concerns the client may raise while presenting the loan options: while presenting the loan options, it may happen that the client raises various concerns regarding research materials, regulatory boundaries and the guidelines of the financier. In that case, the broker must prepare himself to respond to the concerns properly. According to Qian & Yeung (2015) the broker needs to be proactive and identify all the possible concerns that the client may raise. In case of disputed situations with the client, the broker should exercise restraints.