L1.5 – Lead Analyst

L1.5 – Lead Analyst

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Lead Analyst’s Job Standards for 2010

Overview:

As the key interface between the Raters / Issuers and the Organization, UW Support Lead Analyst ensures that all the critical work done by the raters are quality controlled within the set timeframes with quality work been delivered by the end of the training period.

Based upon the goals outlined in this document, it is expected that each Lead Analyst performs their role to the best of their ability, and follows departmental guidelines and procedures as directed by their Trainer

Compliance in all areas of expectation is critical, and if areas of development exist, plans will be outlined and managed by the Trainer and improvement must be shown over reasonable and expected timeframes,

Below is an outline of goals for UW Support Lead Analysts with key descriptions and measurements for each expectation, along with weighting expectations as it affects performance reviews on the semi and annual period is provided.

 Goals:

    1.  Quality control of files produced by operations 25%
    2. Errors received in the process handled 25%
    3. Documentation and Random Audits 20%
    4. Number of rating / issuance files completed 15%
    5. Traits 15%

 Detail:

 Quality control of the files produced by operations (25%)

 Any process would require a stringent mechanism that will always ensure that the product that is being delivered to the end customer is untarnished. To constantly ensure this is being done, a Lead Analyst’s key responsibility is to have a pre-set number of files that is going out to the underwriter’s quality controlled. Once the files are quality controlled and Lead Analyst is to share this result with the operations team (Team Manager or the Assistant Manager) and the training team (Trainer).

% VS Target*

Performance Review Score (Out of 5)

116% – 120%+

5

111% – 115.9%

4

100%-110.9%

3

90%-99.9%

2

<89.9%

1

 *Target will vary on a monthly basis depending on the influx of files

 At 6 month and year-end reviews, semi-annual and annual scored will determine the Lead Analyst’s rating in this category.

Errors received in the process handled (20%)

 A Lead analyst will be focusing to reach a level of a team manager where in he/she will be handling raters of any given process. With this in mind, it puts this requirement as one of the priorities of the Lead Analyst. The Lead Analyst will be associated with one process in the project that he / she will be responsible for. All the errors are reported against the process will be considered while scoring this section. Also under this section, the Lead Analyst will be responsible for the sign-offs of the new raters under this process. The sign-off will be based on the pre-set guidelines and the Team manager /Assistant Manager’s and the trainer’s opinions will be considered for sign-offs.

Overall Error Percentage

Performance Review Score (Out of 5)

98% – 100%

5

<97%

4

<95%

3

<92%

2

<90%

1

At 6 month and year-end reviews, semi-annual and annual scored will determine the Lead Analyst’s rating in this category.

 Documentation and Random Audits (20%)

 All the quality checks that been conducted by the Lead Analyst needs to be filed in an orderly manner and has to be documented in order of there existence. Weekly audits will be conducted to check if the files that are quality controlled are shared with the operations team and if both the team (Training and operation) are in sync. It is mandatory that for the lead Analyst to conduct a quality check on the operations files every day and also share these scores with the operations team on the same day.

% of compliant documents

Performance Review Score (Out of 5)

99% – 100%

5

<96%

4

<94%

3

<90%

2

Less 90%

1

Weekly / Monthly audits will be conducted by the Manager to check if this process is being adhered to and the above scores will be based on the audit results.

At 6 month and year-end reviews, semi-annual and annual scored will determine the Lead Analyst’s rating in this category.

 Number of rating / issuance files completed (15%)

 A Lead Analyst is expected to process applications against monthly and weekly targets set prior to each month, designed to achieve organizational results and revenue generation target, when there is no training session that in commencement. Lead Analysts are also expected to produce the maximum number of applications while balancing the quality of the business and the long-term profitability of the organization. It is of critical importance that the correct procedures and documentation practices are adhered to as will be assessed in underwriting evaluations.

The job and competencies of Lead Analysts’ are easily quantified when benchmarked against realistically set targets, which can be easily extrapolated from production plans as outlined by our infrastructure and executive teams in conjunction with Deep South. The monthly targets will be determined based on the individual’s average file size. The category will decided based on the below matrix.

% VS Target*

Performance Review Score (Out of 5)

116% – 120%+

5

111% – 115.9%

4

100%-110.9%

3

90%-99.9%

2

<89.9%

1

 *Target will vary on a monthly basis depending on the influx of files

At 6 month and year-end reviews, semi-annual and annual scored will determine the Lead Analyst’s rating in this category.

 Traits

 Process Improvements

  • Must constantly analyze the process and figure more effective methods of managing the current business

  • Not only suggesting, but also should implement ideas of improvement

  • Post implementations he/she must study the results of the measure and improvise the same

 Initiative

  • Having a creative mind and developing new ideas that benefits the organization and the process

  • Does not give any excuses for failure or non completion of work responsibilities

  • Is dependable and shows considerable maturity in interaction with peers and direct reports

 Motivational Activities

  • Must tirelessly work toward increasing the performance of the direct reports by encouraging them go beyond the call of duty

  • Should ensure that all his/her are actively participating in the daily operations by conducting motivational activities

  • Has to conduct team huddles everyday to ensure that team is driven toward meeting its targets

  • Has to conduct one-on-one meetings with each of the team members to ensure the monthly targets are discussed and ideas are shared with the them advising them as to how to improve their efficiency

Harsha

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