The Vice President of our company is responsible for collecting more data on the already given information on the revenues, programs and rates. The Vice President is to then work on a solution to make our revenues higher, rates competitive and programs to be the best. He is to design and implement new programs and rates that will drive customer perception of our company as the market leader in the mortgage industry. Our Vice President looks to his Team Managers for feedback on existing programs and new programs that should be introduced.
Team Managers serve as multi-skilled members of our wholesale sales team. His or her position serves in a leadership capacity by meeting and exceeding sales and retention objectives. Responsibilities also include ongoing training, coaching, and monitoring of individual and team performance. Drive both individual and team sales performance results by proactively implementing sales techniques and sharing with the team. He or she is to meet and exceed the volume and unit goals that are given at the beginning of every month. In order to meet these goals, the Team Manager counts on his Account Executives to get the business.
An Account Executive’s responsibilities are to make outbound calls. With the contacts of the outbound calls, we are to establish a relationship with that broker. Ask the broker if he or she has any loans they would like to send through Wells Fargo. Ask the broker to send a prequalification for that specific borrower to make sure it is something that Wells Fargo would be capable of doing. Sell our product and rate to the broker, and then ask for the business. Once we receive the file from the broker, we are to make sure the file has the required documentation then we forward it to our underwriting department for the final decision.
My team at work consists of 15 Account Executives, six of which have been with the company less than a year, five have been with the company over two years and four have been with the company right at a year. Due to lack of time with the company, you can see the majority of our team needs more attention than others. To effectively delegate in planning, there must be a daily schedule that is followed.
Delegation could be used more effectively in planning by writing a list of the major task for which our team is responsible. Determine which task can be given to teammates on the team. If my supervisor was to make a daily plan and utilize that plan to delegate, he could then decide whom he would delegate which task too. On days that my supervisor is out, he generally makes me responsible for taking files upstairs and calling underwriters for questions that Account Executives may have. If he were to ask me to do these things on days he was in the office, it would allow him to have more time for our newer Account Executives. By having more time with the newer Account Executives will allow them to be more productive because they would have hands-on training to better understand our programs.
Delegation is effective when we organize effectively. By organizing every individual will know what is expected of them and those individuals will believe that his or her part is vital to the well-being of our team and our company as a whole. To be effective my supervisor should never ask an individual to do something that he or she is not willing to do. My supervisor should organize and know the people whom he is delegating tasks to in order to match the task with an individual’s skill and talent.
Leading in delegation is to set direction for the organization, groups and individuals and also influence people to follow that direction. My supervisor is an incredible leader. He is able to assist teammates with escalated issues, while guiding them through the process for appropriate resolution. His leading capability provides an influence of powerful acts based on his expertise, the ability to punish, and the capacity to control and provide valued recognition to employees.
Controlling in delegation could be more effective in our company. Delegation is not just a matter of telling someone else what to do. There is a wide range of varying freedom that you can confer on the other person. The more experienced and reliable they are then the more freedom you can give. However, we do have some teammates that tend to take advantage of the freedom given to them. My supervisor needs to crack down on those who take advantage of their authority and freedom.
To effectively delegate, a person should have an understanding of the functions of management. Being able to plan, organize, lead, and control as a manager would promote sound delegations with employees and operations. They must have organizational and interpersonal skills. Having people skills will give a manager the ability to lead, motivate, and communicate effectively with others. They should also possess conceptual and decision skills. These skills help the manager to recognize complex and dynamic issues, analyze the factors that influence those issues or problems, and make appropriate decisions.
Managers in my organization delegate as part of their management responsibilities to assign the right position or job to the best qualified person that they think can do the job and do the job right. Managers in my organization use delegation because it allows them to achieve more productivity for the company.
References
Bateman, T. & Snell. S. Management. (2004). The Competitive Landscape. The
McGraw-Hill Companies.
