Citibank’s head of mortgage distribution Matthew Wood, reveals details of the bank’s revamped mortgage plans
Q: What’s the greatest challenge for brokers at this time?
A: The greatest challenge for brokers right now is remaining focused on delivering great client outcomes in such a difficult environment. This year has been a big one for the broker space, with the response to the royal commission in February, and continued discussions about credit accessibility creating some question marks since then. To manage these changes, I would advise that brokers remain unified, ensure their regulatory obligations are met, and ensure the quality of their loan application submissions remains high. Last but not least, they must also do their best to stay across any and all market changes.
Q: What was your first job?
A: As a Sydneysider, my first job was at McDonald’s Miranda at the age of 15, and it was a great way for me to cut my teeth in the working world. I developed a strong work ethic and learned to be a team player. It might look easy to the untrained eye, but balancing the job of flipping burgers, serving fries and pouring drinks while ensuring great customer service definitely taught me a lot in terms of organisational and time management skills.
Q: What are your top survival tips for working in finance?
A: At Citi we have a very strong emphasis on putting our clients at the centre of everything we do. In my case, this means both brokers and the end customer. I think this focus is incredibly important for anyone working in finance, as it keeps you reminded of what really matters. My other top tips would be to be organised, surround yourself with talented people, and, if you are a leader, make sure you invest in your team members and support them when needed.
Q: What’s one thing you hope to achieve in 2019?
A: Professionally, this is a really exciting year for Citi’s mortgage business. After a quiet couple of years when we focused on improving our back-end processes, we have come back into the market with a very competitive offer – we have a wide range of products and great rates. I’m looking forward to growing our business and becoming a bigger player in this space.