Driving Process Excellence at a Large Investment Bank
I. Description
A mid-sized investment bank was not meeting profit goals and believed that it was uncompetitive in the areas of Foreign Exchange and Credit Operations. These areas were requiring significant hand-offs, coupled with inadequate management reporting capabilities to track individual and team performance.
II. Methodology
• Benchmarked metrics for cost per transaction and personnel per transaction, with a correlation to workload, volume, and staff availability
• Implemented Performance Improvement Plan, including training, procedures, and reduced staffing levels to accommodate the streamlined process
• Adapted a Metrics Management tracking system
III. Results Achieved
Tefen created a successful reporting and scheduling system for the bank, linking performance to individual and team processes. The bank immediately saw a sustainable 30% reduction in cost per transaction, even with a 20% reduction in personnel.
