casewise - lloyds banking group - case study
DESCRIPTION
A 360° view to tackle with Risks & Controls and manage Process StandardizationTRANSCRIPT
Case StudyLloyds Banking Group
CHALLENGE• Thecreationofacentralizedknowledge
managementinfrastructure
• Reducerisk,improvecontrolandstandardize howtheprocessesareperformed
SOLUTION• Centralizationofknowledgeassets
• Mappingkeyprocessesfromendtoend
• Processesperformedadheretobestpractice
Lloyds Banking Group - Knowledge Management
Profile - Investment Accounting Team
TheInvestmentAccountingteam(IA)arepartofthegroupsLife,Pensions&Insurance
division.Theteamisresponsibleforpricingthesecurities,purchasedbyFundManagers
onbehalfofvariousclients,andforthecalculationofunitisedfundpriceswhichare
communicatedtovariouspartiesincludingriskadvisers,themediaandperformance
analysts.
Theteamoperatesinahighlyregulatedenvironmentandaresubjecttofrequentaudits.
SupportisprovidedbytheBusinessProcessManagementConsultancy&Supportteam
whoofferavarietyofservicesincluding:
• Consultancy-ProvideexpertisearoundBusinessProcessManagement
andothermanagementdisciplines
• Innovation-Design,implementationandsupportofnewcapabilities
• StandardsAgency-Setstandards,leveragingindustrybestpractice
• BusinessImprovement-Supportimprovementinitiatives
Challenge TheIAteamhadaccumulatedalargenumberofdocumentsbuthadnoformalknowledge
managementinfrastructureinplacetomanagethedocumentseffectively.Thisresulted
inoutofdateandduplicateddocuments,heldinavarietyoflocations.Teammembers
werethereforegreatlyreliantuponsubjectmatterexpertstoretaincoreinformationandto
supporttheaudits.
Company Profile
LloydsTSBGroupplcwasrenamed
LloydsBankingGroupplcinJanuary
2009,followingtheacquisitionofHBOS
plcmakingtheorganizationthelargest
retailbankintheUKwithanumberof
leadingmarketpositionsservingover
thirtymillionpeople.
www.lloydsbankinggroup.com/
Theauditshighlightedanumberofrisksassociatedtohow
knowledgewasbeingmanaged.Themanagementteamtherefore
requiredalowmaintenancesolutionthatwouldenableknowledge
tobemanagedmoreeffectivelyandmeetthefutureneedsofthe
business.
Solution TheBPMteamusedtheCorporateModelerSuitetodocument
thekeyprocessesandintroducedaframeworkformanaging
knowledge,baseduponEAprincipals.Theframeworkprovided
themeanstostoreknowledgeinwaythatwasbothstructured
andintuitivetothebusiness.Formaldocumentationchange
controlarrangementswerealsointroduced,includingnewroles
withresponsibilityforprocess&knowledgeassetsandtechnical
authoringstandards&templateswereprovidedtoimprovethe
qualityofdocumentation.
Thesolutionhasenabledthebusinessto:
• Gainanimprovedunderstandingoftheadequacyofknowledge
aroundeachbusinessprocessandassignprocessmaturity
ratingsaccordingly
• Gainanimprovedunderstandingoftheoverallcustomer
experiencebymappingkeyprocessesfromendtoend
• Identifytherisksassociatedtotheprocessesandcapture/
improvethemitigatingcontrols
• Standardizetheexecutionoftheprocess,throughthe
introductionofStandardOperatingProcedures.
Results TheteamsKnowledgeManagementcapabilityandcontrols
environmenthasbeengreatlyimprovedanderrorratesfor
documentedprocesseshavereducedsignificantly.
Thenewknowledgemanagementcapabilityhasprovedusefulfor
variouspurposesincludingprocessaudits,newstaffinduction&
training,riskassessmentsandchange.Processimprovementsare
nowalsoeasiertoidentifythroughgreatervisibilityandclarification
oftheendtoendbusinessprocesses.
Why Casewise?
• Sustainableandscalablerepositoryforknowledgeassets
• Powerfulmodellingandpublishingcapability
• Consistenttopperformerinindependentanalystreviews.
About Casewise
Establishedin1989,CasewiseprovidessoftwareandconsultancysolutionsforBusinessProcessAnalysis,
BusinessProcessManagement,EnterpriseArchitectureandGovernance,Risk&Compliancepurposesto
manyoftheworld’sleadingorganizations
Withclientsinmorethan40countries,ourenterprisemodelingsolutionsenableteamstovisualize,understand,
analyze,improve,auditandcontinuallyenhancecomplexoperatingprocessesandITinfrastructures.
WithofficesinLondon,NewJersey,Stamford,Paris,BrusselsandFrankfurt,andaglobalnetworkofresellers,
Casewiseprovidestherightknowledgeandsupporttohelporganizationsofallkindsmakeinformeddecisions
andachievesuccessbydesign.
Accelerating Growth - Reducing Risk – Increasing Profitability
www.casewise.com