Brokers Admin SOP Doc

Table of Contents
1. COVER PAGE
2. TABLE OF CONTENT
3. INTRODUCTION
4. OBJECTIVES & PURPOSE
5. ORGANOGRAM
6. LIST OF ACTIVITIES/ JOBS IN THE DEPARTMENT
7. PROCEDURE FOR EACH OF THE ABOVE-LISTED ACTIVITIES
8. REVIEWED TIMELINE
9. APPROVAL PAGE

1.0 INTRODUCTION

Rosabon Financial Services (RFS) is an award-winning member of the Concept Group licensed by the Central Bank of Nigeria, CBN on April 22, 1993 to provide loans, leases and investments to eligible individuals, SME businesses and Corporate Organizations (medium and Large). A long standing member of the Equipment Leasing Association of Nigeria (ELAN), we have evolved into Nigeria's leading Non-Bank Financial Intermediary and Equipment Leasing firm focused on niche and general markets.

Our work draws on over 30 years of experience in the field of finance advisory and management, tailoring our lease, loans and investment offerings to meet the financial needs of our customers either on a long or short term. We recognize that we can only be successful when the eligible individuals, businesses and Corporate Organizations we serve are able to reach their vision of success. We have a long-term commitment to helping communities thrive and prosper-both economically and socially – with our operations located across several States in Nigeria. Over the years, we have received awards (Local and International) for our outstanding work in the Financial Services industry. Our success is attributed to our emphasis on customer satisfaction, integrity, professionalism and our utmost commitment to excellence. With our headquarters located in Yaba, Lagos, Rosabon Financial Services was founded in 1993.

The Brokers unit is responsible for developing, managing, sourcing, maintaining relationships with brokers and their various leads, communicating broker’s satisfaction level with regards to Concept Nova and Rosabon’s offerings, handling complaint and enquires, content creation, bringing new ideas to move the portal and the concept group forward in terms of brokers strength, sales generated and the engagement of brokers on the portal.

The unit work using Customer service and Marketing function to nurture leads through the sales funnel, from the addition of leads on the portal down through purchase (and repeat purchases). Brokers’ admins use various methods to reach brokers, including email, phone, social media, direct mail, and even the old fashioned door-to-door tactic. Brokers’ admin manages supports and communicates with brokers to ensure lead generation.

They are expected to analyze brokers’ feedbacks and report to the Managing director/ Marketing and Strategy team to aid managerial and strategic decision making.

This SOP was designed to establish guidelines for the Broker's Administration department. (Rosabon Financial Services).
This process aims to ensure that everyone in the department is well-informed of their duties and responsibilities. It is also going to serve as a guide to ensure excellent service at all times and to avoid delays and lags in the process of dealing with all RFS brokers and clients.

2.0 OBJECTIVES & PURPOSE

This SOP details the structure, roles, functions, step-by-step process to be taken by all Broker's Administration Executives from the moment a prospective or existing broker/client makes contact with RFS through any of the communication channels and the policies related to the unit.

This document covers the process of responding to enquiries, determining eligibility for loan packages, transferring leads to appropriate departments, follow-up on leads, engaging brokers/customers after account consummations, up until the end of the transaction life-cycle and engagement afterwards.

3.0 ORGANOGRAM

The structure below is subject to change as the need arises.

4.0 LIST OF ACTIVITIES/ JOBS IN THE DEPARTMENT
 Effective Cross marketing of all products: Effectively cross-market Rosabon’s products to existing and
potential clients when the need arises
 Acquisition and Retention of Brokers: Frequent follow-up on all active brokers for more brokers referral
and leads referrals. Routine offline marketing to source for optimal brokers when the need arises
 Retention of clients for further business: Good relationship management of all clients to ascertain their
satisfaction level and willingness to refer other clients to do business with us.
 Successful Conversion of B2C leads: Immediate follow-up with all referred leads (B2C) to ensure payment
is made and installation done at the earliest time. Transfer B2B client to sales executive for proper follow-up.
 Brokers satisfaction Improvement: Weekly follow-up on all brokers to keep them abreast of the brokerage
program and ensure their needs/requests are being attended to
 Handling of Brokers/clients enquiries: Daily handling of clients and brokers enquiries via phone calls,
emails, live chats and social media channels. Responses must be made in 24 Hours or less.
 Incident resolution: Identify issues, complaints, and proffering possible solutions to meet client’s needs.
Issues should be resolved or escalated in 48 hours or less.
 Submission of weekly report: Communicate detailed reports on client’s requests and feedback to aid
strategic and management decisions. Reports must be submitted on the last work day of every week
before 2.00pm

5.0 PROCEDURE FOR EACH OF THE ABOVE LISTED ACTIVITIES
The steps below show the onboarding process for new brokers :

ROSABON BROKER’S ADMIN.

●· ~~Leads~~ ROSABON BROKER’S ADMIN JOB FUNCTIONS

Acquisition and retention of brokers and clients through offline marketing.

· Aggressively following up with all leads referred by brokers and ensure successful closured of all leads.

· Handles B2B and B2C leads assigned, following all set procedures and policy and ensure the transaction is successfully consummated.

· Handle client’s application via phone calls, emails, live chats and social media channels.

· Resolve clients issues/problems by clarifying the clients complaint; determine the cause of the problem; selecting and explaining the best solution to solve the problem; accelerating correction or adjustment; following up to ensure resolution and continuous referral.

· Acquisition of brokers through referral method from both existing and potential clients.

· Effectively cross market Rosabon’s products to existing and potential clients when the need arises.

· Sourcing for optimal leads that can refer customers to do business with us.

· Identify and assess clients’ needs to achieve satisfaction

· Managing, supporting and communicating clients’ satisfaction levels with regards to Rosabon financial services products.

· Engage clients at the beginning of their subscription; ensure successful take-up and management of all incidents throughout their transaction phase from which there might be a risk of dissatisfaction.

· Communicate detailed reports on client’s requests and feedback to aid strategic and management decisions.

· Sending status and summary report to broker’s admin executive for update of the broker’s portal on a weekly basis.

PPROCEDURE

LLeads generated are filled on the lead generation sheet for follow up and subsequently
passed to the department to treat the lead.
● Once a lead is p a s s e d to the Asset creation team or in the Liability generation space,
details are filled transaction tracker sheet and updated as the transaction proceeds so as
to keep tabs with stages of the transaction.
● Once a lead i s p a s s e d have been consummated by the Asset creation team or in the
Liability generation space, clients and brokers details are filled on the Brokers sales
executive consummated lead sheet
● In cases where the Leads could not be consummated, the issues and the actions to be
taken is filled on the incident log sheet.
● After consummation a broker admins staff calls client 24 hours after to engage and
appreciate the client ~~forchoosing~~for choosing us and get feedback on client / broker’s experience so
far.
● Transactions Pending each week are recorded on the weekly pending Leads sheet
● The broker’s activity sheet is used to keep a track record of broker’s progress and how
active they are
● When potential brokers indicates interest in the program their names and contact are
move to this sheet for further qualification.
● The Treasury Customer Engagement sheet is shared with client experience team to also get
customers feedback on our services as well thanking them for choosing to invest with us
send them mails and SMS on their special days as a form of customer relationship
management in addition to the call they would get from the brokers admin executives.

SALES EXECUTIVE

FUNCTION OF BROKERS SALES EXECUTIVE .

The Brokers sales unit is responsible for developing, managing, sourcing, maintaining relationships with brokers and their various leads, communicating broker’s satisfaction level with regards to Rosabon offerings, handling complaint and enquires, content creation, bringing new ideas to move the department and the concept group forward in terms of brokers strength and successful consummation of sales generated.

The Brokers Sales executive works using Customer service and Marketing function to nurture leads through the sales funnel, from the addition of leads on the portal down through purchase (and repeat purchases). Brokers’ sales executive use various methods to reach clients, including email, phone, social media, direct mail, and even the old fashioned door-to-door tactic. Brokers’ sales executive manages supports and communicates with clients to ensure all lead are effectively managed and their transactions are successfully consummated.

They are expected to follow-up solely with all leads transferred to them, work on all the stages following the set policy and procedures and ensure all transactions are successfully consummated. They communicate all issues encountered during processing stage and feedbacks from client to the Head Brokers admin for swift resolution.

●

LEAD
● The Supervisor oversees effective engagement of clients/ brokers by all executives and
makes sure all complaints are effectively managed or escalated to the appropriate
department as well as give feedback to management for effective decision making.
● The Supervisor collates and vets brokerages sent by executives from the different
locations, then send to the various stake holders for onward approval and payment.

6.0 BROKERAGE PAYMENT POLICY
BROKERAGE PAYABLE TO BROKERS FOR RISK ASSET AND LIABILITY GENERATION PRODUCTS.
ROSABON TREASURY NOTE
CATEGORY AMOUNT TENOR BROKERAGE

ROSABON ~~Earning~~WEALTH ~~Product~~MANAGEMENT ~~(REAP).~~PRODUCTS

The compensation is based on the referred REAP and RWIN account cumulative amount successfully closed.

Note:
 Full (100%) brokerage will be paid for brokers that prefers to wait till end of the tenor before
receiving their brokerage.
 Brokers will get additional 0.5% if their client chose direct debit option.
 Any termination before the end of the set tenor will attract 50% pre-termination for brokers that
wait till end of the tenor before receiving their brokerage.
OPTION 2: PAYMENT OF BROKERAGE MONTHLY

Note:
 Brokerage will be paid to brokers on a monthly basis. This will be 1/12 of the brokerage fee for the
set category.
 Brokers will get additional 0.5% if their client chose direct debit option. This will be 1/12 of direct
debit bonus for brokers that want their brokerage to be paid monthly.

COMPENSATION FOR ASSET CREATION ~~PRODUCTS.~~PRODUCTS (LOANS AND LEASE)

Rosabon Consumer and Corporate Lease.
LEASE TENOR BROKERAGE MODE OF PAYMENT

Rosabon Consumer and Corporate Uncollateralized Loan (Lesser Tenor)

Note:
 The entire amount requested for by referred successful leads will be summed up, and the %
payable for commission for the set category will be paid. The Commission is one off payment.
COMPENSATION FOR OPERATING LEASE.

Note:
 For every extension made by operating lease client, the broker get 0.25% brokerage irrespective
of the tenor.

7.0 REVIEWED TIMELINE
I recommend that this document should be reviewed bi-annually.