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Eli Broad College of Business

Process Redesign for Financial Services

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Description

The business environment for banks, credit unions and insurance companies is far different from what it was just a decade ago. Low interest rates, competition from FinTech, and the emergence of millennials as a major customer segment have changed the competitive landscape.

To survive and grow today, financial service companies must design business processes that engage customers/members and deliver service value that differentiates your organization from the competition.

This seminar will arm you with process redesign tools and a roadmap to determine which process and technology changes will have the most impact on customer/member satisfaction, retention and service quality. Act now. Enroll a team of key leaders today.

LEARNING BENEFITS

  • Better target and serve your customer segments
  • Use customer needs and customer experience data to drive improvement efforts
  • Reduce turnaround times for loans and other key products
  • Devise innovative process redesign solutions that deliver meaningful business results and return on investment

COURSE OUTLINE

The New World of Customer/Member Expectations

  • What is a great customer experience
  • Identifying key customers
  • Prioritizing customer/member expectations
  • The Kano Model
  • Understanding the customer/member experience

Connecting Member/Customer Expectations to Process

  • Customer journey mapping
  • Mapping how service is provided
  • Aligning the business process with the customer journey
  • Streamlining key processes

Service Innovation

  • Thinking outside the box
  • Innovation drivers
  • Mapping high-level solutions
  • Evaluating alternatives
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Eli Broad College of Business

Business Process Management Certificate Series

Next dates

Oct 8—Dec 12, 2019
6 daysModules info
Lansing, Michigan, United States
USD 3495
USD 582 per day

Description

With information technology redefining operations in almost every industry, managing the “business process” has become more essential than ever. Business Process Management (BPM) is a critical skillset for analysts who redesign the way work is performed and for managers who must assure ongoing performance improvement.

In order to meet the needs of a changing business environment, Executive Development Programs in the Broad College of Business is offering a certificate series in BPM. Through three classroom modules, this series provides tools and techniques needed to transform business operations. This certificate program will teach participants how to reduce costs, optimize profits, increase capacity, slash service times, provide a better customer experience, and compete through effective process management.

Broad College’s Business Process Management Certificate is compatible with the Association of Business Process Management Professionals’ (ABPMP) Comprehensive Body of Knowledge.

KEY LEARNING OUTCOMES

After participating in this program, participants will have learned how to:

  • Utilize a “toolkit” of mapping and modeling techniques to document and analyze business processes
  • Locate process flaws that are creating systemic problems
  • Evaluate which activities add value for the customer
  • Use Lean and Six Sigma tools to streamline workflows
  • Interpret data and graphics to manage process performance
  • Leverage technology to effectively automate and redesign processes
  • Devise innovative process designs based on customer needs
  • Identify and prioritize issues that will impact successful process change
  • Achieve buy-in from the people who must utilize new processes and technology
  • Measure the impact of change
  • Assure that new processes are sustainable
  • Deliver additional value to current and future customers

SCHEDULE

Module 1

Process Mapping, Analysis and Redesign: Using Process Analysis to Define and Solve Business Challenges

“Eighty-five percent (85%) of your organization’s quality and efficiency problems are built into its system. Learn how to identify and eliminate unnecessary costs and activities that don’t add value…”

  • Identify and understand an organization’s true core processes
  • Recognize and remove activities that do not add value
  • Eliminate system flaws that result in poor quality
  • Document processes for knowledge management and BPM initiatives
  • View customer/supplier relationships and their impact on an organization’s system
  • Engage business leaders, users and customers in process change efforts
  • Dramatically improve efficiency and customer satisfaction

Module 2

Measuring & Improving Processes: Using Six Sigma Tools to Improve Business Results

  • Identify critical process “pulse points”
  • Measure and analyze process performance
  • Construct histograms, control charts and other practical Six Sigma tools
  • Determine what level of quality an organization’s process can deliver
  • Identify the root causes that limit quality, slow service time and increase
  • costs
  • Evaluate and apply process improvement alternatives

Module 3

Process Transformation: Improving and Innovating Performance

  • Evaluate process performance relative to current strategic goals
  • Interpret data and graphics to manage process performance
  • Think outside the “process box”
  • Use cutting edge techniques to generate ideas for breakthrough performance
  • Devise innovative process designs based on customer needs
  • Deliver more value to current and future customers
  • Plan for the practical and political realities of process change

Who should attend

Those who will benefit from attending this program include:

  • Leaders or members of Six Sigma, Kaizan or reengineering teams
  • Process owners and managers
  • Process, workflow, and business analysts
  • Functional and project managers
  • All types of directors especially quality assurance, HR, operations, supply chain, IT and risk management
  • Internal change agents
  • Candidates for ABPMP certification or recertification
  • Managers or consultants who are installing BPM, ERP, CRM, or similar technologies
  • Senior leaders who are “champions” of process and technology change
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