We use our expertise in best practice operations management, and in process improvement methodologies such as Lean and Lean Six Sigma, to develop, launch, execute and sustain continuous improvement programmes for banking, insurance, investment and other financial institutions. We provide them with the ability to implement tangibly more robust performance measurement practices and more significant improvements in their management of operating costs, customer service, operational risk and regulatory compliance.
Our approach assures the delivery of an on-going return on investment at a large multiple of its cost, since we focus only on that which is proven to be necessary and to work well in a financial services environment. We do this through a combination of rapid project execution (removal of waste, and improvements to processes) and capability building (training and coaching). This ensures that the programme is self-funding from the start, and enables the client organisation to become self-sufficient quickly, without further reliance on external assistance.
Our personal backgrounds, as former business and operations managers in major banking, insurance and investment organisations, allow us to provide executive and senior management teams in financial services businesses with objective and pragmatic advice. We have the experience and capability to assist management in developing and executing the appropriate operating model for effective and efficient operations, and in creating the necessary transparency across the organisation for service delivery, performance measurement, and risk and cost management. We focus on improving the efficiency and effectiveness of an organisation’s operations, helping to release existing capacity either for growth or for cost reduction, to realise tangible savings in other operating expenditure, and/or to address specific regulatory or other required changes.
Operational Excellence is neither a discrete change programme nor a management initiative; it is a business-as-usual approach to instil a culture of effective business management on an ongoing basis across complex organisations. In financial services, this invariably involves the consistent management of the inter-dependent, ever-changing, and often conflicting, requirements of cost optimisation, service differentiation, risk mitigation and regulatory compliance.
We have developed a bespoke approach that selects only those elements of Lean and/or Six Sigma that are appropriate for the financial services industry. This is based on our background in financial services, our experience of business improvement programmes, our engagements with top financial institutions and our market research. We have combined these elements with equally suitable components of other best management practices to form Venturehaus’ Design for Operational Excellence™.
The approach assesses how well an organisation is performing in the pursuit of excellence in its business operations across 8 core categories, or "levers", which together represent Operational Excellence. The model ranks each organisation’s current performance against the 10 key factors in each lever which reflect industry best practice. Through this approach, we consistently achieve rapid reductions in operating costs of between 10% and 30% (and sometimes higher), whilst improving customer service, risk management and regulatory compliance.
Lean Operations Management
Venturehaus has significant expertise in the initiation, roll-out, training and ongoing management of Operational Excellence in both large and mid-market financial corporations. We recommend that our clients consider a Lean approach to the implementation of Operational Excellence, thereby ensuring maximum value and return on their investment. Lean - the operational approach based on the Toyota Production System - removes waste and focuses on value. Lean is less ‘methodology and tools’ and more ‘principles and approach’, hence it provides companies with a potent means of empowering staff to change business processes and organisational culture in a relatively simple and common sense manner. Many financial businesses have recognised the value of this approach in ensuring managers make better decisions - decisions based on fact and empirical analysis, rather than on assumption and gut feel.
Venturehaus typically works with a client organisation to implement a data-driven visual management system in an operational improvement programme. As a result, the company’s management is able to manage business and operations with significantly greater levels of awareness and clarity, and with the ability to act quickly on timely information. Effective measurement, controls and management information, used properly within a business, can play a significant part in delivering competitive advantage. This ensures the business is consistently focused on continuous improvement.
Operational Excellence /
Lean Six Sigma Deployment Services
- Deployment Strategy and Implementation
- Training Strategy, Design and Delivery
- Implementation Planning and Execution
- Programme Management
- Project Selection, Project Management, Project Execution
- Business and Operations Review
- Business and Operations Base-lining
- Business and Operations Performance Measurement
- Process Mapping and Value-Stream Mapping
- Operational (Cost, Service, Risk) Improvement Identification
- Cost Reduction Identification
To deploy Operational Excellence / Lean Six Sigma successfully in a cost-effective manner, it is necessary to begin by base-lining current processes and metrics. Our Operations Review assesses the business infrastructure and the performance of the key business processes, analyses the operational efficiency of the organisation and identifies potential opportunities for financial savings and for improvements in quality, service and risk management. The Operations Review will identify key areas requiring operational and process improvement. The defined improvement projects aim to be narrow enough to allow them to be completed within 6 to 12 months (and often much less), and hence be able to demonstrate early success (and positive ROI) to the rest of the business.