Client Needs & Objectives
As part of a cost optimization program, our client wanted to redesign various key processes in the Client Onboarding department.
He was looking to enhance the productivity and performance of the team.
CH&Co conducted a detailed process optimization and automation study, combining two specific methodologies (DILO and LEAN) for the diagnosis phase.
1. Scope the project, list key sub-processes to be analyzed and gather related documentation and flowcharts
2. Finetune and complete process mapping and flowcharts
3.a. Identify Client Onboarding/KYC process pain points thanks to workshops with key stakeholders within CLM, Ops, Compliance and F/O in terms of turnaround time, quality of processing etc.
3.b. Perform “on the field” analysis to identify inefficiencies, errors, wastes, redundancies, bottlenecks and other operational issues
3.c. Compare Client onboarding processes with market practices (turnaround time, sizing etc.)
4. Analyze root causes and propose efficiency levers such as process redesign, workload reallocation, organizational changes, IT enhancements, digitalization and potential for automation
5. Assess costs and benefits of some efficiency levers and select 2 to 3 emblematic use cases to demonstrate and promote tangible benefits
6. Based on concrete results of the diagnosis phase, define with Management priorities based on level of complexity and expected return on investment