Controlrisk People development Client service 1 Cost of functions percent of

Controlrisk people development client service 1 cost

This preview shows page 9 - 12 out of 20 pages.

Control/risk People development Client service 1. Cost of functions (percent of revenues, percent of costs) 2. Trades per FTE (#) 3. Data center capacity horizon (time) 4. Share of high touch versus low touch (%) 5. Use of hybrid capital ($ outstanding) 1. New business initiatives developed (# and $) 2. Resources allocated to innovation (#, %) 3. Loan portfolio hedged (%) 4. Difficult-to-fund assets ($ funded) 5. Headcount off- shored to low- cost region (#) 1. Unresolved audit points (#) 2. Regulatory inquiries addressed within deadlines (%) 3. Regulatory inquiries handled, routine versus non-routine (#, %) 4. Achievable capital charge savings ($) 5. Compliance costs allocated to enterprise ($) 1. False positive surveillance exceptions (%) 2. Internal audit assessments (# open, # satisfactory 3. Participation in preventive drills (%) 4. Moody’s risk assessment (scale) 5. Transaction breaks/fails/ outstanding confirms (#, $) 1. Z/Yen benchmark survey (scale) 2. Internal client satisfaction surveys (scale) 3. Purchase spend awarded to diversity suppliers (%) 4. Time to fill open positions (time) 5. Participation in new/complex transactions (%) 1. Diversity ratio of employees (%) 2. Top 100 roles with clear internal successor (%) 3. Offer acceptance rates (%) 4. Voluntary attrition rates (%) 5. Hours of training per headcount (#)
Image of page 9

Subscribe to view the full document.

10 Strategy& Deceptively simple Even though a performance measurement program seems conceptually straightforward, financial services companies find it challenging to implement and maintain these programs. A common mistake is the absence of a clear linkage between performance measurement metrics and the overall business strategy. Typically, this problem arises for two primary reasons. First, some performance measurement programs were developed with minimal business involvement and therefore focus only on operational efficiency measures. Second, programs that were initially developed with clear linkages between strategy and performance metrics lost that connection over time. Without strong links to strategy, operations and business goals become misaligned and performance suffers. Another common pitfall relates to the type of measures used to manage performance. Typically, organizations fumble when choosing what to measure and end up with metrics that gauge processes instead of performance. Too often we have heard the phrase “It’s easy to measure what we do, but not how well we do it.” If an organization is judged by process metrics that are not tied to performance, it can easily find itself meeting targets with no beneficial end result. Finally, many organizations make the mistake of equating an IT solution with a performance measurement program. These organizations focus on picking the ideal performance measurement software or tools while neglecting to thoroughly understand how operations performance is linked with the organization’s strategic goals. These companies waste time and resources on system implementation efforts, only to find their systems rarely used years later.
Image of page 10
11 Strategy& Developing a successful program Despite these difficulties, it is possible for many financial services
Image of page 11

Subscribe to view the full document.

Image of page 12
  • Fall '17

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes