Business Reengineering & Quality “Moving at the Speed of Change” Kaizen in Financial Kaizen in Financial Services Services Business Re-engineering and Quality WCBF Presentation and Discussion 10/15/09 4th Annual WCBF Global Lean, Six Sigma and Business Improvement Summit & Industry Awards
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BusinessReengineering
& Quality
“Moving at the Speed of Change”
Kaizen in Financial ServicesKaizen in Financial Services
Business Re-engineering and Quality
WCBF Presentation and Discussion
10/15/09
4th Annual WCBF Global Lean, Six Sigma and Business Improvement Summit & Industry Awards
Page 2
Kaizen DefinitionKaizen Definition
Kaizen (Japanese) = “To Make Better”
Keys to Kaizen Success Small incremental changes that add up to big improvements Usually low-cost / no-cost solutions that can be implemented every
day Becomes a philosophical shift in doing work, constantly looking for a
better way to eliminate “waste” in a process
Kaizen uses Lean to target the 8 wastes Overproduction of work in process Waiting Transportation of files/documents/information Non-value-added processing Excess finished inventory Defects Excess people motion Underutilized people
95% Non-Value
Added
5% Value Added
Typically, 95% of all lead time is non–value added
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Kaizen at homeKaizen at home
■Toast - Simple process- Everyone knows how to make toast
■How long does it take you to make toast?
■How fast could you make toast?
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Kaizen at HomeKaizen at Home
■Potential improvements- Where is the bread stored?- Where is the butter stored?- What type of “butter” are you using?- What type of bread is the customer wanting?
• How do you know?
- What type of toaster are you using?- How do you know what the optimal time is?- What else could you be doing during the actual toasting?
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Kaizen (PREP) at PershingKaizen (PREP) at Pershing
Pershing is a member of every major U.S. securities exchange, and its international affiliates are members of the Frankfurt, Irish, and London Stock Exchanges
Offer a comprehensive network of facilities around the world, which enables us to support financial organizations in approximately 64 markets and deliver dependable, 24x7 customer service
Over 5,000 associates who are highly focused on supporting the needs of our customers
Founded in 1939, Pershing, a BNY Mellon company, is a leading global provider of clearing and financial business solutions
Service Excellence
Operational Support
Trading Services
Flexible Technology
Investment Solutions
Practice Management
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10
9371
4 8
Black Green Lean MBB Executive Belt
2008 Total Six Sigma Belt Certifications7% of total headcount
Six Sigma DMAIC
Lean Sigma
Kaizen – Rapid Improvement
Process Excellence Program
Over 300 projects and 800 employees engaged since inception
Over 300 projects and 800 employees engaged since inception
Quality at DTCCQuality at DTCC
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Kaizen (PREP) at PershingKaizen (PREP) at Pershing
Eliminating manual announcements of historical issues
Streamlining Return of Over Payments
Designing an automated Proxy receipt
Identifying IT request completion
Designing a process for on-boarding compliance
Customer Satisfaction Survey Deployment
Eliminating Redundant Automation Solutions
Past events at DTCC
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Kaizen (PREP) at PershingKaizen (PREP) at Pershing
■Tangible Benefits:- Not in Good Order transactions currently down 30%- Target Service Levels performance improved and targets were tightened- Transactions reopened by the customer decreased 55%- Improved project cycle time
■Intangible Benefits:- Increased customer satisfaction- Improved quality culture and knowledge- More enjoyable Six Sigma experience- Increased interest in process managers for analysis
Results:
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Kaizen (PREP) at PershingKaizen (PREP) at Pershing
■Additional analysis being done with other Service Center teams
■Technique added to Six Sigma training curriculum
■Analysis to be performed for other transactional systems
What’s Next:
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Kaizen Cycle @ DTCCKaizen Cycle @ DTCC
■ Identify potential issue■ Discuss the idea with your
manager- Collect data on the issue
- Identify all interested parties
■ Contact BRQ to facilitate a Kaizen event
■ Complete any follow up activities (additional event identification)
Identify follow up activities
Complete Event
Identify Issue
Discuss and Prepare
Tips to identify Kaizen opportunities• Does a process seem too complicated?• Does it feel like there is a straightforward
solution?• Do you see non-value add (waste)
activities in a process?• Are multiple departments involved?• Is a rapid implementation or fix needed?
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Become a Kaizen FacilitatorBecome a Kaizen Facilitator
■ DTCC Certification- Internal training
■ Experience- Previous facilitation and team leader