lts that combination
of cliënt knowledge
and product anarisk
expertise that makes
this work 9
The key is clear governance, a clearproduct
offering and a clear cliënt focus J
REGION SPECIAL TREASURY
Hem Mulders:
André Dolsma:
Client-driven solutions
A uniform approach
'The regional mid-capTreasury specialists will team up with account
managers to identify clients who could use hedging products and
then visit clients together. It's that combination of cliënt knowledge
and product and risk expertise that makes this works," Mulders says.
So the first priority for the Treasury specialists is to address the
needs of any member banks' clients, identified by the local account
managers themselves and then discussed with the clients. These
cliënt discussions are about the key risks in their enterprises, short
and long term. To truly understand a client's risk profile, it's vital
to understand their financial position as well as their business and
strategy. After sharing these insights, the Treasury specialist comes
up with a proposal. "So, basically, our discussions with clients take
into account how their strategy will affect their risk profile. If we
have a good understanding of these dependables, we can propose
the best product for a customer's needs. That's what sets us apart
from our competitors," Dolsma says.
It is about finding the products best suited to mitigate a client's
risks, not about selling the most profitable products. 'This means
assessing the risks of the products we sell if, say, a cliënt acts in a
certain way or if there's an economie downturn. And because clients
have a complete picture, they can make informed decisions.
This also reduces our own risk, both financial and reputational,"
Dolsma adds.
The motto throughout this process is 'don't sell anything clients
don't need and don't sell anything they do not understand'. Mulders
says: "Nor should account managers sell anything they don't fully
grasp themselves. That's why the product specialists are such an
essential part of this."
For instance, Dolsma says, a cliënt may think he needs a hedging,
while the cost of the hedging would far outweigh the risk exposure
to exchange rate fluctuations. In that case, Rabobank will actually
advise against the hedging. This may cost us in the short term, but
it shows clients that we really do have their best interests at heart,
and that trust is likely to be rewarded in the future."
It is this model - and this ethos - that Rabobank is now looking to roll
out across its global R&R business. The aim now is to make the
approach as uniform as possible and simultaneously dedicated to
local customer demands and regulations. "For this to work as well as
it has in the Netherlands, there has to be a uniform and clear set
ZO ISSUE 26 JANUARI RI WORLD
