Introducing John Fickling

An interview with John

Hi John. Let's start off by talking about how your career first started. 

I worked in retail banking for many years, first starting as a cashier and working my way up to becoming a Bank Manager.

I gained a lot of insights into the pressures retailers are under and what challenges they face in a B2C environment. For example, I was given some quite ambitious targets despite managing a relatively small branch. It was hard work but I'm proud of what myself and the team achieved. Our branch went from being at the bottom of the Yorkshire district to number two within six months or so.

Did you originally plan to build a career as a Bank Manager?

I think it became obvious quite quickly that I preferred a sales role, and it would provide a more fulfilling career for me personally.

I was only in my mid-twenties when I first became a Bank Manager. Looking back, I was best suited to my role as a Sales Advisor but had the potential to manage a team and drive results too. The Bank Manager role just wasn't for me long-term.

After almost 10 years in retail, I moved to the bank’s head office for a new challenge within the asset finance team. I went from managing customers’ day to day banking requirements, to speaking with high net worth individuals seeking finance on their next Ferrari!

Was it very different joining Novuna?

The biggest culture change for me was having involvement in decision making, and having exposure to senior stakeholders within national retailers. Suddenly, I was almost completely responsible for my own diary. This was all different to what I was accustomed to in a B2C environment.

What was the retail finance team like when you joined and how has it changed over time? 

When I joined the team there was a much smaller number of us. All of the Relationship Managers reported into Brian Flesk, who is now our Head of Retail.

Over the years we've taken a bigger market share and grown the business unit. Major developments such as our CM3 system have allowed us to position ourselves as a market leader and our name's becoming increasingly recognised in the industry now. As we've grown and employed new team members, the structure has changed. I'm now one of three National Retail Managers looking after a team of highly skilled Relationship Managers.

Has the Relationship Manager (RM) role changed a lot in recent years too?

Yes. The role used to be focused predominantly on sales and, whilst driving volume and margin is of course still important and a big part of what we do, the role is much broader these days. Our consultative approach allows us to build trust and drive those areas whilst ensuring we mitigate risks posed to Novuna and the retailer.

Our retailers expect us to be their eyes and ears when it comes to the industry. So, for example, they expect us to inform them of any regulatory updates such as the recent Consumer Duty requirements and what impact that might have.

It's not just about the sales, or the numbers - it's about being the experts in our field.

What would you say to a new starter joining your team?

We want our new starters to be hungry to learn and genuinely excited to get stuck in but there's no expectation to become an expert overnight. Knowledge is needed across all areas of the business, so it takes time - and patience - to upskill and develop this understanding.

Things are different now to when I first started. Within a week or so I was given my territory and tasked with hitting the road to visit retailers. Don't get me wrong, it was intense, but I learnt a lot being thrown in at the deep end.

Our Relationship Managers now go through an intense induction phase and typically inherit their territory within two or three weeks of onboarding. It's a softer landing at first, but our RMs receive more responsibility as they become more self-sufficient and confident in their new role.

You provide a great deal of support to your team, don't you?

We try to. And we always try to promote within the team and then hire colleagues across different departments within Novuna who are looking for a new challenge. The role is so unique, it's important to us that people arrive in our team with no preconceptions - just a genuine interest in the industry and an aspiration to progress their career within a rewarding sales environment.

Around three years ago, during the pandemic, we introduced a new mentor programme too. This pairs a Relationship Manager with a more experienced RM, so they always have a point of contact to share ideas or questions with. This has worked brilliantly for the team, as all our RMs get quick, robust support while our mentors gain people management experience.

Do your team get exposure to all kinds of sectors?

They do. Some of our RMs used to be sector specialists but it's much better for the team to have an understanding of the products we finance across multiple sectors. For example, when it comes to complaints, the home improvement sector can be more complex for the RM as it's usually a large job with the potential for snagging issues etc. Exposure to different kinds of problems - and opportunities - assists in the personal development of the RMs.

Is there a major difference in approach within the different sectors?

Every retailer is different, and they all have their own individual challenges and expectations. There are some sector-wide patterns we need to be aware of, though. For example, retailers who sell electricals often have lower profit margins so for many it's just not viable to offer long-term interest free credit. So we'd suggest alternative packages that work for them.

It's important we're aware of what's common within each key sector so we can develop a finance package that's tailored to that market, and make sure our retailers don't face having an uncompetitive finance offering.

What are the challenges facing Novuna Consumer Finance as a business right now?

Business failures. Certain sectors flourished in the early stages of the pandemic, but are now seeing a decline in demand whilst their overheads are on the rise. Add to this the economic uncertainty brought on by rising interest rates and the cost of living crisis, and retailers across all sectors will inevitably feel the impact through declining sales and more finance applicants seeing a reduction in their disposable income.

However, that’s where Novuna comes in. A competitive finance promotion can boost sales and our market leading tailoring functionality will help to maintain strong conversion rates by tailoring the application to the individual’s affordability.

And what advice would you give to retailers wanting to make the most of retail finance?

This is an interesting one. At this moment in time, I think retailers should focus on their salespeople positioning finance earlier in the journey as one of several ways to pay. More retailers are also positioning the purchase as a “project” now. For example, the customer is not just shopping online or in-store to buy a sofa, but may consider refreshing their whole living room. This ties nicely into our tailored finance options, where we can provide a maximum loan amount at soft search stage and put both the salesperson and their customer in an informed position in the early stages regarding the potential for cross/upselling.

And finally, can you share one of your biggest career highlights?

Of course, it's great to see any client success, but on a personal level I'm proud to have taken on the National Retail Manager role and leverage my experience to support my team with their own career development. I was apprehensive at first, with my comfort zone typically being 'hands on' with retailer relationships, and building a team was a new challenge for me.

The most enjoyable part of my role is to see individual’s flourish and progress within the business.