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Throughout this course, you have analyzed your current work environment to identify the acquiring, developing, and training practices. Employees are the biggest asset and contribute to the culture and overall performance of the organization. This project requires you to determine how to leverage the human capital within your organization. Use the research you have compiled throughout this course to determine how to appropriately develop and motivate your employees.
Develop a written proposal discussing performance indicators, rewards and incentives, and a plan for motivating employees. Your proposal must include the following:
Describe tasks and performance indicators that contribute to the overall employee performance on the job.
How will you identify an employee’s strengths and skills to leverage their performance?
1
Selection Process
Interview strategy
In designing the interview process for PennyMac, a comprehensive and inclusive approach must
be adopted to bring a diversified pool of competent applicants. The interview strategy will
consist of various factors such as the time, place, format, and the employees who will be
involved in the process, as will be discussed below:
Time and Place: The interviews will be conducted during regular business hours, and keeping in
mind the convenience of both the hiring team and the candidates, the schedule will be arranged.
Job interviews will be held on-site at PennyMac’s main office to provide a warm and
professional setting. A virtual interview option will be offered for individuals unable to attend
physically.
Format: The interview will follow a structured procedure to ensure consistency and fairness. All
individuals will also answer a standard set of questions to provide equal opportunities for each
applicant. Further, each candidate will undergo a panel interview involving the hiring manager
and key stakeholders, including a senior financial analyst and a human resources department
2
representative. The panel’s approach will generate different opinions and will be based on the
criteria set in the job description.
Employees Involved: The panel interviewing format will be a joint effort by the team members.
The hiring manager, the key decision-maker, provides a strategic perspective on how the
potential employee fits the organizational goals. The senior financial analyst will be responsible
for the technical aspects of the job, and the HR representative will make sure that the company
follows the guidelines and contributes to evaluating cultural fit within the organization.
3
Preassessment tools
1. Technical proficiency tool: The test assesses candidates’ proficiency in the crucial
technical skills listed in the job description. The main goal is to ensure that candidates
have the right skills and knowledge to perform well on the job and complete the
assessment process fairly and objectively (Min et al., 2023). The exam is designed to
mirror the practical issues and duties integral to the Financial Analyst role at PennyMac
Financial Services. Candidates’ score on the test directly reflects their competence for the
role. This is particularly useful at the beginning of the selection process when the hiring
team can pick out the candidates who have proven they have the required level of
proficiency (The Wall Street Journal, 2022). The candidates who successfully go through
the screening will be called for a Technical Proficiency Test as part of the preassessment
phase of the process.
2. Cognitive aptitude test: According to Xie et al. (2021), cognitive aptitude tests evaluate
a candidate’s ability to learn, change, and solve problems. This test assesses the
candidate’s general cognitive skills, which can be used in different company tasks and
roles. This will lead to evaluating a wide range of skills that may not be limited to
technical competency alone (Reynolds et al., 2021). By assessing candidates’ problemsolving, critical thinking, and learning abilities, the company can find those with the
required cognitive adaptability for a challenging financial environment. It is suitable as it
would help the management examine candidates capable of solving critical financial
issues within the organization. The individuals can use the novel information from within
and outside the company to make crucial financial decisions.
Situational Questions
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1. Given a sudden market downturn, how would you adjust your financial analysis
strategies to mitigate potential risks for PennyMac Financial Services?
2. Explain a situation where you had to work with teams to accomplish a shared financial
goal. What obstacles did you encounter, and how did you solve them?
3. How would you use your understanding of industry trends and regulations to help
PennyMac maintain a competitive edge in the market?
4. In a fast-paced work environment, how do you prioritize competing demands and ensure
timely delivery of accurate financial reports?
Behavioral questions
1. Tell us about when you identified a financial inefficiency in a previous role. What steps
did you take to address it, and what impact did your solution have on the organization?
2. Share an example of a complex financial analysis project you successfully managed.
How did your analytical skills contribute to the project’s success?
3. Give an example of a scenario in which you had to explain intricate financial details to
stakeholders at various organizational levels. In what ways did you modify your message
to guarantee comprehension?
4. Have you ever had to meet a tight deadline for a financial report? How did you maintain
the quality of output?
Additional consideration
In addition to the Technical Proficiency Test in Financial Analysis, PennyMac recognizes the
importance of fostering a diverse and inclusive work environment. To ensure that the selection
process aligns with the company’s commitment to diversity, an additional consideration will be
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incorporated: a diversity and inclusion assessment. The Diversity and Inclusion Assessment
insights will complement the technical evaluation, providing a more holistic understanding of
candidates’ potential contributions to PennyMac Financial Services’ diverse and inclusive
workplace culture.
Sample Questions for Diversity and Inclusion Assessment:
1. How have you actively fostered diversity and inclusion in your previous work
environments?
2. Can you share an example of a project where you worked effectively in a diverse team?
How did the diversity of the team contribute to the project’s success?
3. Describe a situation where you faced a challenge related to diversity or inclusion. What
lessons did you learn from the experience?
4. In what ways do you believe diversity can positively impact the financial industry, and
how would you contribute to creating an inclusive culture at PennyMac Financial
Services?
6
References
Min, H. K., Hu, Y., & Ann, S. (2023). Impression management goals and job candidate’s race: A
test of competing models. International Journal of Hospitality Management, 109,
103426.
Reynolds, C. R., Altmann, R. A., & Allen, D. N. (2021). Assessment of intelligence.
In Mastering modern psychological testing: Theory and Methods (pp. 331-382). Cham:
Springer International Publishing
The Wall Street Journal. (2022, May 2). Paid Program: When Recruiting, Focus on Skills.
Indeed. https://partners.wsj.com/indeed/leading-the-way-on-talent/want-to-hire-betteramid-the-great-realization-focus-on-skills/
Xie, B., Liu, H., Alghofaili, R., Zhang, Y., Jiang, Y., Lobo, F. D., … & Yu, L. F. (2021). A review
on virtual reality skill training applications. Frontiers in Virtual Reality, 2, 645153.
PennyMac Financial Services Job Description
Job Description: Financial Analyst
Position Summary:
At PennyMac Financial Services, the Financial Analyst is pivotal in supporting strategic
decision-making via in-depth financial research, thorough report preparation, and insightful
recommendations. To make a suggestion or conclusion, financial analysts look at how a firm is
doing financially in its industry and the economy as a whole (Agyabeng-Mensah et al., 2020). An
organization’s day-to-day operations rely heavily on financial analysts. At a high level, they
investigate and analyze financial data to comprehend the company and the market and assess the
organization’s standing. Maximizing profitability in this role is critical to the long-term health
and expansion of the company’s finances.
Key Responsibilities
1. Perform a comprehensive financial analysis of the company’s income, costs, and
investments to identify trends, opportunities, and places where PennyMac Financial
Services needs improvement.
2. To assist management in budgeting, planning, and decision-making processes that align
with the aims and objectives of the business and provide accurate and timely financial
reports, forecasts, and projections.
3. Examine competition performance, industry standards, and market trends to evaluate
PennyMac’s place in the market, reduce risks, and spot possible expansion prospects.
4. Work closely with cross-functional teams to support business activities and projects that
align with PennyMac’s strategic direction, acquire pertinent financial data, and create
economic models.
5. To guarantee efficient financial management and decision-making, keep an eye on critical
financial measures and KPIs, measure performance against goals, and report to senior
management regularly with updates and suggestions.
Required Skills and Qualifications
1. A bachelor’s degree in an associated discipline, such as finance, accounting, or
economics. A master’s degree is recommended.
2. Proven track record in financial services, ideally in mortgage banking or similar fields,
including financial analysis, reporting, and forecasting.
3. Advanced knowledge of financial modeling, Microsoft Excel, and financial tools like
CoreLogic or Black Knight that are often utilized in the mortgage sector.
4. Strong analytical abilities with the capacity to decipher intricate financial data and
provide relevant and specific insights into PennyMac’s business strategy and market
dynamics.
5. Strong presentation and communication abilities that allow for the efficient dissemination
of financial data to stakeholders at all organizational levels.
6. Very accurate, detail-oriented, and capable of meeting deadlines in a fast-paced, dynamic
workplace.
7. Aptitude for strategic thinking and problem-solving, promoting innovation and ongoing
development to ensure PennyMac’s long-term success.
Additional Information
This role may sometimes need overtime and flexibility to fulfill project deadlines or
attend to urgent business demands. Being able to shift gears quickly and efficiently is critical to
being flexible in the face of unexpected challenges (Grass et al., 2020). As a member of
PennyMac Financial Services’ financial team, the Financial Analyst works closely with
colleagues throughout the company and reports directly to the financial manager.
PennyMac Financial Services welcomes and values all individuals and strives to create a
diverse and inclusive work environment. Possibilities for professional growth and advancement
are part of our excellent remuneration packages.
References
Agyabeng-Mensah, Y., Afum, E., & Ahenkorah, E. (2020). Exploring financial performance and
green logistics management practices: examining the mediating influences of market,
environmental and social performances. Journal of cleaner production, 258, 120613.
Grass, A., Backmann, J., & Hoegl, M. (2020). From empowerment dynamics to team
adaptability: Exploring and conceptualizing the continuous agile team innovation
process. Journal of Product Innovation Management, 37(4), 324-351.
Enhancing Customer Service Excellence at PennyMac Financial
Services
BY: ALLA KHACHATRYAN
Introduction
Customer happiness is critical to our business
as a supplier of financial services.
The level of customer satisfaction is a good
indicator of how well your target audience
receives your product or service.
According to research, customer retention,
lifetime value, and brand reputation are
positively impacted by happy customers
(Kumar & Rajan, 2020).
Goals of the Training
Improving PennyMac Financial Services’
customer service is the overarching objective
of this program.
Staff morale, output, and retention may all
take a lift when companies invest in their
professional growth (Nguyen, 2020).
Customer happiness, loyalty, and retention
may be achieved by improving customer
relationships.
Specific Objectives
This training exercise has two specific objectives:
Improve communication skills to ensure
clarity and empathy in customer interactions.
Enhance problem-solving abilities to
efficiently address client inquiries and
concerns.
Process/Procedure Changes
Upon completing the course, staff can communicate with customers more effectively and
use better problem-solving frameworks in their everyday work.
They must incorporate the training’s new methods and tactics into their existing
procedures to do this.
In order to make sure that customers get correct information and feel heard and
understood, staff will specifically practice clear and succinct communication.
Training Strategies
A training strategy’s principal function is coordinating a company’s many training
programs with its overarching goals and priorities (Stoltenberg et al., 2021).
The process begins with a thorough assessment of current staff knowledge and abilities,
continues with the development of targeted training programs, and culminates in their
systematic and coordinated rollout.
Workshops, role-playing, and case studies will all be a part of the training to help
participants practice and perfect their problem-solving and communication skills.
Participants will be allowed to participate in practical exercises designed to mimic reallife situations they could face on the job. Employees will gain self-assurance in using
Expected Performance
Employees are anticipated to show enhanced communication efficacy after training,
leading to more precise client interactions and faster problem resolution.
Better problem-solving abilities will result in faster and more satisfying customer service.
Customers will have more faith in the company since staff members can explain intricate
financial details.
Support and Measurement
Staff members may rely on PennyMac for
continuous mentoring, resource access, and
occasional refresher training.
All new employees must complete the same
training to maintain high service standards.
We will assess the success of the training
using performance measures like resolution
times and customer satisfaction surveys.
Conclusion
In conclusion, PennyMac Financial Services intends to improve the quality of customer
service by investing in this training exercise.
This will ultimately result in higher client happiness and success for the firm.
I would want to express my gratitude for your involvement in this endeavor. Please
permit me to collaborate with you to provide excellent service experiences.
References
Kumar, V., & Rajan, B. (2020). Customer lifetime value: What, how, and why. In The
Routledge companion to strategic marketing (pp. 422-448). Routledge.
Nguyen, C. (2020). The impact of training and development, job satisfaction and job
performance on young employee retention. Job Satisfaction and Job Performance on
Young Employee Retention (May 1, 2020).
Stoltenberg, M., Spence, D., Daubman, B. R., Greaves, N., Edwards, R., Bromfield, B., …
& Shields, A. E. (2020). The central role of provider training in implementing
resource‐stratified guidelines for palliative care in low‐income and middle‐income
countries: Lessons from the Jamaica Cancer Care and Research Institute in the Caribbean
and Universidad Católica in Latin America. Cancer, 126, 2448-2457.
HRM-635 Needs Assessment and Job Analysis Matrices
Definition: A needs assessment is the process organizations use to determine if training is necessary for its employees.
Needs Assessment Matrix
Department
Finance department
Current Trainings/
Required Trainings to
Meet Department or
Employee Needs
Advanced Financial
Modeling Course
Core Function(s) of
Department
List of Jobs or Tasks
of Department
Current Department
or Employee Needs
Financial Analysis and
Reporting
1. Financial Analyst
Training on Advanced
Financial Modeling
Techniques
2. Accounting Clerk
Training on Latest
Accounting Software
Advanced Accounting
Software Training
3. Budgeting Specialist
Additional Training on
Budget Management
Budget Management
Workshop
4. Tax Specialist
Tax Law Seminar
Update on Tax Laws
and Regulations
Customer Service
department
Customer Support and
Satisfaction
1. Customer Service
Representative
Advanced
Communication Skills
Training
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Customer Relationship
Management Course
2. Complaint Resolution
Specialist
Conflict Resolution
Training
Conflict Management
Workshop
3. Call Center
Supervisor
Leadership and Team
Management Training
Supervisory Skills
Development Program
Job Analysis Matrix: Financial Analyst
List Tasks, Duties, and Responsibilities
Conduct financial analysis on company data
to identify trends and areas for improvement.
Prepare financial reports and forecasts to
support decision-making processes.
Analyze market trends and competitor
performance to assess market position and
identify growth opportunities. | – Knowledge
of industry trends and market dynamics.
Collaborate with cross-functional teams to
gather financial data and support business
initiatives. | – Excellent communication and
interpersonal skills.
Monitor key financial metrics and provide
recommendations to senior management.
List Knowledge, Skills, and Abilities
Other Core Competencies and Education
Understanding of financial analysis
principles.
Bachelor’s degree in Finance or related field.
Proficiency in Microsoft Excel and financial
reporting software.
Strong attention to detail.
Knowledge of industry trends and market
dynamics.
Ability to think strategically.
Excellent communication and interpersonal
skills.
Project management experience is a plus.
Analytical and problem-solving skills.
Ability to work under pressure and meet
deadlines.
Collapse All
Leveraging Human Capital – Rubric
Tasks and Performance Indicators
16.5 points
Criteria Description
Written proposal includes description of the tasks and performance indicators that
contribute to the overall employee performance.
5. Target
16.5 points
A comprehensive description of the tasks and performance indicators that
contribute to the overall employee performance is included.
4. Acceptable
14.36 points
A clear description of the tasks and performance indicators that contribute to the
overall employee performance is included.
3. Approaching
13.04 points
A description of the tasks and performance indicators that contribute to the overall
employee performance is included and minimally describes the tasks and
performance of employees.
2. Insufficient
12.21 points
A description of the tasks and performance indicators that contribute to the overall
employee performance is included but is incomplete or lacks details.
1. Unsatisfactory
0 points
The written proposal does not include a description of tasks and performance
indicators.
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Identifying Employee Strengths and Skills to Leverage Performance
Criteria Description
Written proposal includes a description of leveraging employee strengths and skills to
improve performance.
5. Target
16.5 points
There is a well-developed description of leveraging on employee strengths and skills
to improve performance.
4. Acceptable
14.36 points
There is a detailed description of leveraging on employee strengths and skills to
improve performance.
3. Approaching
13.04 points
There is some description of leveraging on employee strengths and skills to
improve performance.
2. Insufficient
12.21 points
The written proposal includes a description of leveraging on employee strengths
and skills but the description is incomplete or lacks details.
1. Unsatisfactory
0 points
The written proposal does not include leveraging on human capital.
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16.5 points
Strategies to Improve Performance
16.5 points
Criteria Description
Written proposal includes a description of strategies to improve employee
performance and discusses rewards and incentives for performance improvement.
5. Target
16.5 points
The written proposal includes a comprehensive description of strategies to improve
employee performance and thoroughly discusses rewards and incentives for
performance improvement.
4. Acceptable
14.36 points
The written proposal includes a detailed description of strategies to improve
employee performance and adequately discusses rewards and incentives for
performance improvement.
3. Approaching
13.04 points
The written proposal includes strategies to improve employee performance and
discusses rewards and incentives for performance improvement.
2. Insufficient
12.21 points
The written proposal includes strategies to improve employee performance but
they are incomplete or lack details.
1. Unsatisfactory
0 points
The written proposal does not include strategies to improve employee
performance.
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Integration of Rewards and Incentives to Remain Competitive
16.5 points
Criteria Description
Written proposal includes a description of the integration of rewards and incentives to
recruit and retain employees, including an explanation of how each would be of
advantage over the competition.
5. Target
16.5 points
The written proposal includes a thorough description of the integration of rewards
and incentives to remain competitive in the marketplace and recruit and retain
employees.
4. Acceptable
14.36 points
The written proposal includes a clear description of the integration of rewards and
incentives to remain competitive in the marketplace and recruit and retain
employees.
3. Approaching
13.04 points
The written proposal includes an appropriate description of the integration of
rewards and incentives to remain competitive in the marketplace and recruit and
retain employees.
2. Insufficient
12.21 points
The written proposal includes a vague description of the integration of rewards and
incentives to remain competitive in the marketplace and recruit and retain
employees.
1. Unsatisfactory
0 points
The written proposal does not include a description of the integration of rewards
and incentives to remain competitive.
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Culture Within the Organization
11 points
Criteria Description
Written proposal includes a description of the aspired culture within the organization
relative to the employees being the biggest asset.
5. Target
11 points
There is a well-developed description of the aspired culture within the organization
relative to the employees being the biggest asset.
4. Acceptable
9.57 points
There is a detailed description of the aspired culture within the organization relative
to the employees being the biggest asset.
3. Approaching
8.69 points
There is some description of the aspired culture within the organization relative to
the employees being the biggest asset.
2. Insufficient
8.14 points
The written proposal includes a description of the culture within the organization
but is incomplete or lacks details.
1. Unsatisfactory
0 points
The written proposal does not include a description of the culture within the
organization.
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Thesis Development and Purpose
7.7 points
Criteria Description
Communicates reason for writing and demonstrates awareness of audience.
5. Target
7.7 points
The thesis, position, or purpose is persuasively developed throughout and skillfully
directed to a specific audience.
4. Acceptable
6.7 points
The thesis, position, or purpose is clearly communicated throughout and clearly
directed to a specific audience.
3. Approaching
6.08 points
The thesis, position, or purpose is adequately developed. An awareness of the
appropriate audience is demonstrated.
2. Insufficient
5.7 points
The thesis, position, or purpose is discernable in most aspects but is occasionally
weak or unclear. There is limited awareness of the appropriate audience.
1. Unsatisfactory
0 points
The thesis, position, or purpose is not discernible. No awareness of the appropriate
audience is evident.
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Development, Structure, and Conclusion
8.8 points
Criteria Description
Advances position or purpose throughout writing; conclusion aligns to and evolves
from development.
5. Target
8.8 points
The thesis, position, or purpose is coherently and cohesively advanced throughout.
The progression of ideas is coherent and unified. A convincing and unambiguous
conclusion aligns to the development of the purpose.
4. Acceptable
7.66 points
The thesis, position, or purpose is logically advanced throughout. The progression
of ideas is coherent and unified. A clear and plausible conclusion aligns to the
development of the purpose.
3. Approaching
6.95 points
The thesis, position, or purpose is advanced in most aspects. Ideas clearly build on
each other. Conclusion aligns to the development of the purpose.
2. Insufficient
6.51 points
Limited advancement of thesis, position, or purpose is discernable. There are
inconsistencies in organization or the relationship of ideas. Conclusion is simplistic
and not fully aligned to the development of the purpose.
1. Unsatisfactory
0 points
No advancement of the thesis, position, or purpose is evident. Connections
between paragraphs are missing or inappropriate. No conclusion is offered.
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Evidence
5.5 points
Criteria Description
Selects and integrates evidence to support and advance position/purpose; considers
other perspectives.
5. Target
5.5 points
Comprehensive and compelling evidence is included. Multiple other perspectives
are integrated effectively.
4. Acceptable
4.79 points
Specific and appropriate evidence is included. Other perspectives are integrated.
3. Approaching
4.35 points
Relevant evidence that includes other perspectives is used.
2. Insufficient
4.07 points
Evidence is used but is insufficient or of limited relevance. Simplistic explanation or
integration of other perspectives is present.
1. Unsatisfactory
0 points
Evidence to support the thesis, position, or purpose is absent. The writing relies
entirely on the perspective of the writer.
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Mechanics of Writing
5.5 points
Criteria Description
Includes spelling, capitalization, punctuation, grammar, language use, sentence
structure, etc.
5. Target
5.5 points
No mechanical errors are present. Skilled control of language choice and sentence
structure are used throughout.
4. Acceptable
4.79 points
Few mechanical errors are present. Suitable language choice and sentence
structure are used.
3. Approaching
4.35 points
Occasional mechanical errors are present. Language choice is generally
appropriate. Varied sentence structure is attempted.
2. Insufficient
4.07 points
Frequent and repetitive mechanical errors are present. Inconsistencies in language
choice or sentence structure are recurrent.
1. Unsatisfactory
0 points
Errors in grammar or syntax are pervasive and impede meaning. Incorrect language
choice or sentence structure errors are found throughout.
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Format/Documentation
5.5 points
Criteria Description
Uses appropriate style, such as APA, MLA, etc., for college, subject, and level;
documents sources using citations, footnotes, references, bibliography, etc.,
appropriate to assignment and discipline.
5. Target
5.5 points
No errors in formatting or documentation are present. Selectivity in the use of
direct quotations and synthesis of sources is demonstrated.
4. Acceptable
4.79 points
Appropriate format and documentation are used with only minor errors.
3. Approaching
4.35 points
Appropriate format and documentation are used, although there are some obvious
errors.
2. Insufficient
4.07 points
Appropriate format is attempted, but some elements are missing. Frequent errors
in documentation of sources are evident.
1. Unsatisfactory
0 points
Appropriate format is not used. No documentation of sources is provided.
Total 110 points
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