Former Senior Credit Analyst at Gruppo MutuiOnline
Mirko spent nearly 5 years working in Gruppo MutuiOnline’s BPO division for both CQS loans and mortgages. He started as a credit analyst in CQS loans before being promoted to manage a team of credit analysts and optimising the BPO processes for bank customers. He had close contact with Gruppo MOL’s customers and the underlying BPO systems in place. Read moreView Profile Page
Disclaimer: This interview is for informational purposes only and should not be relied upon as a basis for investment decisions. In Practise is an independent publisher and all opinions expressed by guests are solely their own opinions and do not reflect the opinion of In Practise.
Mirko, can you start by just sharing some context to your role at GruppoMutuiOnline please?
My role in GruppoMutuiOnline was as a credit analyst. When I joined the company, I didn’t know anything about the BPO processes, to be honest. I was there mainly because I had five or six years’ experience in the BPO market. It was a really good chance for my career, to understand how this market worked. My role was to decide if the loan or the mortgage should be approved or not, based on the rules and requirements of the banks and the insurance companies. I want to add that when I joined the company in 2015, I was starting and learning at the same time and you can imagine how rough it was but, at the same time, I knew that this was a great chance to understand and to learn new skills.
You worked across mortgages and insurance and different loan processes?
I was working mainly on loan processes. In the loan, there were different stakeholders, such as insurance companies and banks who had an influence over the whole process. For instance, before the liquidation of the loan, usually banks wait for feedback from their insurance company, in order to get the green light regarding the health condition of the customer, in order to be sure that the loan is really a concrete one and it is very unlikely the customer will become insolvent.
So you worked on both the loans and mortgages and for consumer loans and the leasing businesses?
Basically, I worked mainly on loans. Let me explain how the structure of the teams at GruppoMutuiOnline works. There are different teams, such as Deutsche Bank team, Compass Bank team and so on. I worked for different banks and into each team, the employees are divided by the type of process they manage. For instance, in the Deutsche Bank team, there are two other teams, the first one which managed the approval process and the other one that worked on and managed just the liquidation process. This way, the external provider, GruppoMutuiOnline tried to create a specialization of the activities and, at the same time, the differentiation between several banks allowed the external provider to respect the privacy policies that banks usually have. One employee shouldn’t be allowed to work on Deutsche Bank loans and Compass Bank loans at the same time.
They are almost separate teams?
Exactly. That’s very important because banks are very, very clear about this area. They want to be sure that all the information is safe, when they decide to externalize.
But in that process, using the Deutsche Bank case as an example, you have two teams; the approval process team and the liquidation team. For Deutsche Bank, would you be servicing mortgages and consumer loans and other loans?
I was mainly working on consumer loans. I had a look at mortgages and other kinds of loans but I was mainly focused on consumer loans. There is a particular loan that I think only exists in Italy; in Italian, it’s called cessione del quinto.
Exactly. I was mainly focused on these. When I joined the company, I started with very easy activities. My first activity was to scan all the original documents that banks usually send to the external provider, in order to archive them. It was really a very easy task but it allowed me to understand the role and the meaning of each document, during the process.
After this, I climbed the ladder and, in 2019, I had a team leader role. I was coordinating a team of 12 people and my main responsibility was to coordinate the credit analysts, in order to ensure that they were respecting the bank’s requirements. I had a close contact with the bank because I had to solve any potential issues and I had to know if the bank had any potential issues and if it was then satisfied, within their terms.
How was the team split, in Gruppo, between Italy and Romania?
GruppoMutuiOnline has several branches, located in different parts of Italy. I was based in the branch in Sardinia and, as you say, there was also a Romanian branch, in Arad. Unfortunately, I didn’t get the chance to go there but I met my colleagues when they came to the Sardinian branch to have training or to understand the workplace, so I know how they work.
Basically, the Romanian colleagues were in close contact with the Italian ones. The structure of the Romanian team was pretty much the same as in Italy. They were divided by banks – Deutsche Bank, Compass Bank and the other ones – and also into each bank, there were other teams to manage different tasks. But in the Romanian branch, they mainly managed the activities that required the highest effort in terms of manual activities and data entry activities.
For example, usually banks send digital documents, such as PDFs, which contain 50 or 60 pages. They send that to the external provider and the Romanian colleagues had to split each document in this PDF, into the relative label into the platform. Within these 50 or 60 pages, there was the fiscal code, the contracts and all the other documents. The Romanian colleagues had to find each document and split them up into the different labels. For example, the fiscal code had to be in the fiscal code label.
Is this for CQS loans?
Exactly. These allowed every stakeholder – banks and credit analysts – to easily find, identify and open the documents if they needed to. That was one of the tasks managed by the Romanian colleagues, but the structure was the same. I want to underline that they had the same skills and knowledge about the processes and the way in which something had to be asked of the customers. They were very skilled people.