SEB Way Isabelle Cassel

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SEB Way Isabelle Cassel

SIQMarch 14, 2008SEB WayIsabelle Cassel


A North European financial groupSEB Group Local presence in tencountries + strategiclocations globally Half of the resultgenerated outsideof Sweden About 20,000employees 600 branch offices Global top rankingswithin several areas


A strongcustomer baseShare of total income2,500 largecompanies andfinancial institutions5 millionprivate customers~35%~40%~25%400,000 small &medium sizedcompanies


Objective to increase competitivenessof SEBPerformanceSEB 2010TodaySEBPeersTime


SEB Way helps us reach ourbusiness goalsClient satisfaction #1 in our chosen marketsFinancial performance leadership Leading in terms of RoE Sustainable profitable growth AA rating ambition Create a culture ofcontinuous improvement Increase customersatisfaction Develop and motivate staff Realise One SEB5


A roadmap in two stepsPHASE IPHASE IIInstallingoperational excellenceFocused growthOperationsSEB WaySales effectivenessFront officeBack office6


What is SEB Way?SEB Way is aboutcreating a culture ofcontinuous improvementin order to achieveoperational excellence7


Operational excellence is about improvingthe way we deliver value to our customersCustomerneedsDo the rightthingsCapture potentialDo thingsright, andright thefirst timeIncreasedcustomersatisfaction8


What differentiates SEB Way fromother initiatives ?Long termcommitmentCharacteristics for typical projects 1 or 2 year priorityprogramme, with a one offtargetCharacteristics for SEB Way Commitment of the management team for amajor change in performance level Long term commitment of top managers onSEB Way future stateCapitalisation ofexperience Ad-hoc solutions to achievethe target Make standard work the base of day to daywork and improvementManagers’ role Approve the solutiondefined by project team Top management shapes the new way ofworking and role models Line managers drive continuous improvementPerformancemanagement Build a process to ensureimplementation of action plan Set ambitious targets locally Detect deviations from standards andeliminate root causes immediatelySkill building Few trainings Culture of coaching and feed back Continuous development of managers andnavigators9


The purpose of SEB Way is to build aculture of continuous improvementImprove ways of driving continuous improvementDegree of improvementPriorTransformationContinuousimprovement10


ProcessSEB Way frees up time for valueadding servicesOverall diagnosticacross division/business area4-10 weeksIndividual “deep”transformations with supportfrom Navigators~12 weeks per transformationEndproducts Detailed roll-out plan Realistic resource plan Concrete operational andfinancial targets Go/no-go from CEOOffice11


Each individual transformation followsa structured implementation methodology1. Prepare(1 – 2 days)2. Diagnosis(2 weeks)3. Future state(2 weeks)4. Implementation(8 weeks)5. Continuousimprovement Informing,anchoringandpreparingresources Identifyimprovementareas and setoverall targets Understandconcerns fromemployees Ensure alignedperspective onkey issues Develop thesolutiontogether withlineorganisation torealise theimprovementsand addressconcerns fromemployees Implement thesolution toachieve stepchange inperformance andbuild the platformfor continuousimprovement Line trained to sustainand improve changeFull-time navigator support – step change in performanceLine continues12


Why do we need PerformanceManagement?From…How do I know mywork leads toExcellence?...ToI know how my wayof working leads toExcellence!13


Performance management in SEBVision /objective Strategy Targets & KPI:sNavigation Performance Reviews– Business– Individual Problem Solving & correctiveactionsToolsReporting structure– Format– FrequencyAppraisalsData collection tools14


The transformation combined with operational performancemanagement drives long term change in performance cultureMorning meetings and weekly performancereviews with department managers Key performance Indicators and performance reviews on all levelsExample: Performance mgmt.Level in organizationSecurities servicesmanagement teamManagement teamoperations unitHead of operations unitDepartmentTeamDailyMorningmeetingBoardWeeklyWeeklyreviewWeeklyreviewWeeklyreportBi weeklyFollow upondeviationsBSC*WeeklyreportMonthlyFollow upondeviationsBSC*Work instructionsShop floor audit/checklist Skill matrix (based on work instructions)work instructions for handling “not sent list”Department: VPP-VPCPage: 1 (1)Process steps Main activity Tips1. Do not remove sent list from theprinter1. Select lines with current settlement date1. Default setting of printer is printer number 123Example: Tools2. Check that VPC status is ”NS” inFANSY3. Try to revive transaction4. If revival attempt gives “holdingsmissing” go into SENIOR andcheck holding in depository5. If holding is there with rightsettlement date, force thetransaction2. In IMS; write VP.FA.FL.ÄN, tab to id:field andenter the note number from the list. Press F11.Check that “VPC status” field is “NS”3. Enter in field ”Å uppl” Y and then press enter4. Press F9, write VP.RÖRURV, tab to id:fieldand write depository number (from the list),press F115. Check field “selection day” for relevant paperin list. If holding is there with “selection day” equal totoday's date, force the transaction by pressingF9 and then F5 If holding is not there, press F6 and continueto next step2. NS = not sent3. Y = yes4. Open twin dialog by pressing F9. You canomit 0100 in the beginning of the depositorynumber5. Current security is obtained from the list, field”FANSY VP-ID”6. Finalize transaction6. Either the VP was not available or it wascanceled for some other reason. Contactcustomer and discuss appropriate action6. VP = name of securityRelevant image is VP.RÖRURVYou can see cancellation by minus sign in“modify field” after name of security15


SEB Way will improve leadership inthe bankFrom Reactive Leadership Solve problems when theyare reportedWork mainly with financialtargets in business planHistorical decisions are notchallengedTo Proactive Leadership Lead change every day – continuously improve– Solve problem together with employees– Act as role model– Active coaching, spend time on the shop floor Manage performance– Structured follow-up in daily morning meetings– Daily problem solving– Operational KPI:s linked to financial targets inbusiness plan Communicate clearly and concretely– Base decisions on facts– Explain reasoning transparently16


0SEBRetail BankingWealth mgmtLifehant BankingGroup StaffGroup IToup OperationevelopmentCFOSEB/SwedenSEB/GermanySEB/EstoniaSEB/LithuaniaSEB/Latvia908070605040302010Voice shows strong correlationbetween areas addressed by SEBWayStandardized processesPerformance ManagementSkill BuildingMindset and behaivior4 BB TotalDifferent units


Sustainability is still a challenge!SEB Total7270686664TSEB Total62605856Transformation has not started Transformation is ongoing Transformation is finalisedSource: Voice results 2007


Desired Future stateEvery employee knows: What are the needs of my customer? What are my targets? How do I perform? Is this the best way to do my job? What skills should I develop and how to proceed? What difference did I make today? Have I given and received feedback today?19

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