Just over three years ago GPS commenced development of its next generation of staff with our graduate program. Going down the graduate program path was largely due to our not being able to achieve the desired culture within our organisation with ex-bankers and other property professionals.
The graduate program has proved successful on many levels. We can craft the desired culture of staff. It has allowed GPS to attract some senior, and very experienced, mentors who are motivated by being able to give something back to the industry and learn more about operating a mortgage fund. The mentoring and access to higher quality work assists in attracting the best graduates. Graduates are trained across all aspects of the GPS business which increases their skill base and allows them to cover for other staff when required. They want to learn, work and to get it right.
I am very proud of the current team at GPS and what we have achieved in the past three years. I’m also pleased to announce the next two appointments in the graduate program, Jack Thompson and James Hoare.
Both will add to the ever increasing skill base at GPS. Jack has a Master’s degree in Mathematics and Physics, which will boost our analytics and risk assessment abilities. James will have a Business Degree majoring in Finance. He will assists Liana in Accounts/Administration and me with the loan pipeline.
I am a firm believer that if you get the right culture in a business then the rest will follow. Investors will want to invest and borrowers will want to borrow, because we are competent, friendly and seek positive outcomes. When investors are investing, borrowers are borrowing and GPS is getting it right (no losses), then profits will follow for everyone involved.
GPS has operated within a regulated culture of putting the interests of investors first since the Managed Investments Act in 1997. I had this culture drummed into me by my father from a very early age. Banks, financial planners and other areas of investment have only recently started talking about culture. As seen with the Future of Financial Advice (FOFA), they still do not have a regulated requirement to place the interests of investors ahead of their own. They fought hard to avoid this cultural requirement.
My view is that GPS is at least 20 years ahead of the game on the culture issue, which gives us a distinct advantage for many years to come.