In the Spotlight with Nick O’Leary, OSB Group

FR: What’s your role and what does it entail?

I’m a dual-branded business development manager (BDM) and work across Precise Mortgages and Kent Reliance for Intermediaries which are both lending brands under the same parent company, OSB Group. My role is really varied and no two days are the same. My primary objective is to support brokers with enquiries, applications and cases. I share my knowledge and expertise of the specialist lending market and assist in finding the most suited solutions for the broker’s clients.

The role of a BDM is focused on building strong partnerships and trust with brokers and being their ‘go-to’ on cases and queries. Being dual-branded helps me to look at the full range of options across both Precise Mortgages and Kent Reliance for Intermediaries to ensure we can provide the most suitable product for the broker’s clients’ requirements.

FR: How long have you been working within the finance industry?

I’ve worked in financial services for 17 years which has given me a spectrum of experience and knowledge. I started working in the industry as a broker but after 10 years I was looking for a new challenge and business development was the ideal career progression.

I’ve been working as a BDM with OSB Group for five years, initially joining as a BDM for Precise Mortgages and then in April 2022, I started working across KRFI as well.

FR: How do you feel about the dual-branded approach and how does this differ to representing one brand?

It has been a huge learning curve and something I have really enjoyed seeing come to fruition.

Being dual-branded means I can offer brokers a much wider range of solutions and in my opinion results in much better outcomes. It also saves brokers time as they have one point of contact for two brands and I can use my expertise and knowledge to help them place their cases with the right brand, first time.

It’s great to be able to discuss the unique offering by the group in the specialist lending sector, across two differing brands.

FR: What do you feel is most important about being a successful BDM?

The core responsibility for a BDM is being there for your brokers. Nurturing relationships with key partners/brokers is imperative to being a successful BDM, as ultimately you’re credibility comes from knowing and understanding a changing market, so being aware of updates and changes in the sector is crucial. It’s a demanding role and brokers will call upon your expertise on varying topics so you need to be comfortable with researching and working off your own initiative.

FR: What single thing would you say helps get cases over the line?

For all cases, but in particular complex cases, a detailed summary of the case is very important as lenders need to understand the circumstances and background. When a case makes it to an underwriter, they don’t want to second guess any information, especially when things are not straight forward.

If a broker provides rationale and as much background as possible on a case from the outset to support an application, this helps tremendously. It means we can help underwriters and real estate to feel comfortable with the case from the very start, which saves a lot of to-ing and fro-ing and ultimately means we can get the offer out sooner to them for their clients.

FR: What advice would you give to anyone looking to progress to a BDM role?

A BDM role within the specialist finance industry demands adaptability, especially during the current economic climate. You have to keep your finger on the pulse of market conditions, changes and forecasts. This requires constant research, so you need to be comfortable with change. Alongside this, strong communication and networking is vital, so you must build your network, talk to people in differing roles within the sector and always keep developing your personal skills.

Specialist finance is a complex market so specialist BDMs must always seek ways to widen our industry knowledge. There is a wide range of resources available such as seminars, podcasts and articles offered by key trade titles such as Financial Reporter, and also by lenders in the marketplace, so set time aside to keep up-to-date and grow your CPD.

Social media can also be useful so be active, engage and keep up with updates from key profiles within the industry.