An Inside Track To Bank Mangers

Some Bank Managers Are Encouraged To Work In Industry

Does Your Bank Manager

At a recent event I listened to a presentation by a Director of Commercial Banking. He gave an insight to the inner workings of a bank manager. Some of the points provided a useful background into their approach and expectations.
Interestingly in his bank they actively encourage their bank managers to work three days a year in business (i.e. outside of the bank environment to get a reality check of the outside world. These bank managers then actively work in these selected businesses (they are not just sitting shadowing). Part of the ethos behind this appears to be that as a bank they are looking to actively work with their customers and this is a way of demonstrating this in a practical way.

Tips For Meeting With Your Bank Manager

Always prepare an agenda in advance and submit this to the bank manager so that they have an insight into what you are preparing for
The bank manager needs to have a knowledge of your business
- What sector / sectors are you operating in
- Who are you customers (types / profiles)
- Who are your competitors, not only direct competitors but indirect competition and potential future competition
- Who is involved within your supply chain
- Key financial information
- Note: Expect your bank manager to be following you on Linked in and Twitter
A shared relationship plan – how the bank and your business can work together
Your bank manager should be offering you solutions not products; so if they try and sell you insurance find another bank
Your bank manager should be able to signpost you to alternative routes of finance if these will be more appropriate to your business needs

Ahead of any bank manager meeting

Prepare financials and forecasts
Ensure your business plan is current
Have an up to date SWOT / Porters 5 forces matrix
Identify any inherent risks that you face