We interviewed Andy Judd, Credit Analyst at the Birmingham Mid Markets Credit Management Centre, Lloyds Banking Group, to find out what led him to train as a mentor, why his bank was supporting his mentoring, and what he had learnt from the process.
Why did you decide to train as a mentor?
I’ve worked for Lloyds Banking Group for over 30 years, in excess of the last 20 years have been in the corporate sector working directly and indirectly with our business customers. I feel I’ve built up a good amount of experience over this time, obviously biased more towards the financial side of running a business. I’ve had exposure to businesses in a wide range of different industries and with a whole host of different issues to face.
I felt I wanted to use some of this experience in a different way, other than making a purely financial-based assessment of a business, and mentoring seemed like a good way to do this. I think what really made me decide to go for it was speaking to a couple of colleagues in the bank who were already mentors and had said how much they enjoy it.
Had you mentored previously?
No, not formally. I have done some mentoring of colleagues but only on a more informal basis.
Who are you mentoring and how is that going?
I've been mentoring Divian Mistry who operates in the property market. He has some property management of his own, but his current focus is more around coaching and mentoring others so that they can run successful property management businesses themselves.
The mentoring has been going really well. We’ve met up five or six times now, and try to meet every four to five weeks, chatting for around an hour each time.
I had wondered how technical our discussions might get around property, but they don’t go down that route at all. Our conversations are more about how to run a business, and we discuss principles that could apply to a company in any sector.
We talk quite a bit about what you might call people issues, such as how to work with people and how to attract new clients.
Do you think being a mentor has made a difference to the success of the business?
That’s very difficult to answer, you’d have to ask Divian! I guess I’d like to think so. When we meet, Divian notes down action points to follow through with after our meeting, which I think that will have helped. These action points tend to be ideas he’s come up with as a result of our discussion. It’s certainly not a case of 'I tell him what to do and he writes it down', it just doesn’t work like that.
What benefits does mentoring bring you?
My colleagues were right, it is enjoyable. It’s a good feeling when you come away from a session and your mentee has things to do. It also helps me understand a new type of business as I work with medium to large businesses.
Why does Lloyds Banking Group support mentoring?
Lloyds Banking Group has a 20,000 hour commitment to train volunteers from across the company as mentors, from senior management to specialist departments.
It's part of a national mentoring scheme run by the Business Finance Taskforce and led by the British Bankers’ Association to help the economy return to sustainable growth by supporting businesses.
I saw information about the scheme and felt that it seemed like a great thing to get involved in.
What would you say to businesses not sure about whether to seek the support of a mentor?
I would say give it a go, you have nothing to lose except an hour of your time every so often. It’s good to talk to someone completely independent who is non-judgemental and may be able to work with you to find solutions to any issues you may have. If you find it’s not for you then you can stop – there’s no huge commitment here.
Is there one specific thing that it's changed for you as a result of your mentoring?
Mentoring has emphasised to me that all businesses are run by a collection of individuals and that the human element to running a business is the most important thing. Even though I work with large businesses and Divian runs a micro business a lot of the issues are very similar.
What part will mentoring play in the future of your professional life?
I will definitely continue mentoring - I want to mentor different people with different issues to broaden my experience further.
Have you had mentors throughout your professional life and how have they helped you?
I’ve had people I’ve been able to talk to and who have helped me to a degree in my professional life. I’ve not had a formal mentor myself, but this process has certainly made me consider it!
The IOEE is the mentoring organisation that trains inducts and matches mentors and mentees within the West Midlands on behalf of the British Banking Association. For more information on sourcing an IOEE bank mentor contact Christine Dryden, Mentor Manager at the IOEE.