Finance Giants to Collaborate in Quality and Efficiency Levels Improvement

LONDON, May 24, 2011 /PRNewswire/ -- Senior representatives from global financial services institutions including HSBC, Citi, Deutsche Bank and Wells Fargo will present their strategies for business transformation and process improvement to an online meeting of international process excellence leaders this July.

In advance of the meeting, session leader Jorge Rosas VP & Quality Manager for Chubb Group of Insurance Co. offered comment on how organisations typically react to demands for greater quality in service.

Mr Rosas said, "I believe that many organizations, especially in the financial services space, are still more reactive than proactive in their response to Quality. This means that when customers or regulators demand quality improvements a quick fix is usually sought, as opposed to deep process analysis and Continuous Improvement that lead to sustainable change."

Fellow faculty member Sam Chari, Vice-President of Global Operations at AllianceBernstein supported this view, "I come from a manufacturing background and my first sense when I came to this industry about five years back was, I don't think financial institutions really are as organised or disciplined," but highlighted the significant progress that had been made in his own organisation since then.

"Our guiding principle has been you really cannot manage or improve what you do not measure, so we've really focussed over the last two years on measuring what we think is critical to our operations."

When asked what are the critical measures that should be taken by financial services companies, Mr Rosas stated that "A proactive quality program, including customer listening posts need to be implemented and used as the source of information to assess customer and stakeholder satisfaction before demands for improved quality are received. When this happens, the customer has already had a bad experience and he/she might be lost."

Rosas and Chari will share more of their experiences with a diverse panel of industry leaders and attendees at Business Process Excellence for Financial Services Online, a web based knowledge sharing meeting streamed both live and on demand over 4 weeks beginning July 11th.

Process Excellence Network: A division of IQPC, provides critical knowledge on the development of Process Excellence including Business Process Management (BPM), Lean, Change Management, Operational Excellence, Six Sigma, Risk Management, Customer Experience and more, we provide the forum where the industry shares its experience, knowledge and tools.

https://www.bpefinanceonline.com/?utm_campaign=PAIDPR&utm_medium=PAIDPR&utm_source=PAIDPR&MAC=PRNEWS_6WKS

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SOURCE Process Excellence Network