Mortgage specialists gain exposure to OCBC’s wealth products, portfolio construction and fraud detection; the upskilled mortgage specialist will be able to fulfil the roles of a relationship manager while also providing mortgage loan advice.
The first batch of nine mortgage specialists has attained the Capital Markets and Financial Advisory Services (CMFAS) certification, administered by the Institute of Banking and Finance Singapore. This is required of wealth advisers — also known as relationship managers — and will validate their capabilities across portfolio management, asset allocation, client engagement and compliance.
The mortgage specialists who have completed the programme so far have spent an average of nine years in their roles at OCBC. They stepped into their expanded roles on Oct 1.
In an Oct 6 announcement, OCBC says the initiative also serves as a talent retention strategy, helping mortgage specialists grow their skillsets and stay engaged with the bank. “The transition from a ‘mortgage-only’ role to full-spectrum wealth advisory is a logical next step for them.”
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According to OCBC, 15 senior mortgage specialists have been selected for the programme. While OCBC declined to reveal headcount figures, the bank aims to triple the number of mortgage specialists who participate in the programme over the next two years.
Home loans are often the first point of contact that customers have with OCBC; one in four new-to-bank customers begins with a home loan.
According to OCBC’s statistics, home loan customers also have twice as many products with the bank compared to those without a home loan, and assets under management are 1.6 times higher.
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Tok Geok Peng, OCBC’s group head of consumer secured lending, says property is a key component of a customer’s wealth portfolio, and home loan customers often enquire about insurance to protect their homes.
“This creates organic opportunities for mortgage specialists to deepen the relationship with financial planning. In fact, uptake of the group mortgage Insurance plan — a life insurance plan that is exclusive to OCBC home loan customers — rose by nearly 15% in 2024 compared to 2023,” says Tok.
Similar to the bank’s relationship managers, graduates of the programme will also undergo annual refresher courses to stay current on developments in both mortgage and wealth management.
Sunny Quek, OCBC’s head of global consumer financial services, says homeownership is a “major life milestone”, and the financing process can be complex.
Says Quek: “Mortgage specialists play a key advisory role, often operating at the intersection of home financing and financial planning. This initiative not only expands their areas of expertise but also strengthens the OCBC Premier Banking proposition. By equipping mortgage specialists so that they can support customers holistically, from home financing to long-term wealth planning, we can deepen relationships and reinforce our position in wealth management.”
Photos: OCBC
