A brief overview of the Business Operations team
There are currently two members of the business operations team, Kristine and Jessica. They work closely with the business development (BD) and credit teams to collate documents and do an initial assessment of new businesses looking for funding by preparing necessary information required by Beehive.
How do you divide your team’s responsibilities and what are your tasks?
Kristine: I am involved primarily in Term Finance (TF) requests. I am responsible for preparing a business’ KYC folders for final compliance approval and initiate background checks which include checking for any police cases or negative media on the company and its shareholders and owners. When everything is approved both from the credit and compliance side, I initiate the release of funds.
Jessica: My main tasks are focused on Customer Finance (CF). I am responsible for processing CF discounting as well as the daily updated CF report for the BD team. I also collaborate with the marketing team for business listings on the Online Marketplace and sending emails to investors when new businesses are listed on the platform.
Kristine, why is the operations team important for our customers?
There are several reasons why the operations team play an important role for our customers, especially investors. Firstly, we establish a good relationship with business clients so we can maintain communication, obtain their up-to-date documents and most importantly, monitor scheduled repayments. We also act as Compliance Support. We assist the compliance team with KYC reporting in line with the DFSA regulation to prevent Anti-Money Laundering.
When it comes to decision making, what do you factor in?
Jessica: We always go back to basics when it comes to processes. Our decision relies heavily on the documents provided by the business. If the business is lacking credible documents, we always seek approval from the managers.
Why did you decide to join Beehive?
Jessica: I was referred by my friend who works in compliance support at Beehive. I was a bit anxious at first, but I was excited by the challenge of joining a new company in a new industry. I thought it was an interesting concept and it looked fast-paced, which is different to my last job!
Kristine: Before joining, I didn’t know what Beehive or fintech was. I was introduced to the company by a friend, now colleague too, and I found the nature of the business intriguing. Since working here and understanding the concept and processes, I can now say I believe this is the future of funding and investing.
What is your favorite part of working at Beehive?
Kristine: Everyone, including the C-level staff, are very approachable. I may be biased, but when you get to work with a team so easy to communicate with, you can be honest, ask questions and give suggestions without being judged. We respect each other and preserve integrity. Maintaining that type of environment will help maintain a harmonious office environment regardless of our diverse backgrounds.
Jessica: I completely agree, definitely the people! Everyone is approachable and there is never a dull moment in the office. Also, the team building activities! Not to brag, but I was part of the team who won our last team building activity – Bowling Bonanza!
And what would you say is your favorite part of your job?
Kristine: Whenever a business gets approved. It feels like an accomplishment for me and the team!
Jessica: Yes, I agree. It feels great when a business gets approved because you feel like you have been a great help for that business.
Sounds fulfilling! Now what would you say is the toughest part of the job?
Kristine: The toughest part is if departments have conflicting verdicts for approving a business. Once the operations team and the credit team had opposing decisions. For us, the business had a good chance of getting approved, but it got rejected by the credit team.
Jessica: Since I am dealing with CF, some clients take a long time to send their clients’ invoices across, which causes a delay in the approval.
What is your go-to productivity tricks?
Kristine: Ha! Everyone in the office knows that we are accustomed to the conventional way of creating a to-do list. This is how we manage our tasks well and set our daily priorities.
Jessica: Yes, even if we are all working remotely now, I also write my to-do list first thing in the morning. It is very easy to get distracted. There are some days that we will call each other in the morning to check for any urgent requests or requirements.
What is going well in your role? Any wins this month?
Kristine: Despite the current pandemic, we are still managing to work from home. For us, I believe this is a big win since we are still able to continue to support and accomplish tasks effectively outside the office environment. This is the advantage of working for a fintech company and being able to do things online.
Great! As a parting gift, do you have any interesting facts you’d like to share?
Kristine: I won the “Worst Breakfast Award” at the office Christmas party for eating fish curry, avocado and milk or chocolate porridge every morning. My colleagues find it weird. I’m not sure if I was happy to win the award or not. But hey, that’s my childhood favorite food!
Jessica: I am completely addicted to milk, but not liquid milk, the powdered ones! Also, my nickname growing up was ‘Dimple’.