Dear CEO: Our Custody and Fund Services Supervision Strategy Letter
MoreCall: 0845 139 4444
Email: hello@square4.com
Call: 0845 139 4444
Email: hello@square4.com
Building a strategic framework for your business to drive efficiencies and value.
Informed by our extensive work in the marketplace, we build proven operating blueprints outlining how your functional area needs to be structured and operate to achieve your strategic, consumer, regulatory and business goals. We provide a framework for aligning people, processes, technology, and governance to deliver well controlled functions to ensure good outcomes for consumers and your business.
Typical Operational areas we cover:
Complaints
Remediation
Collections/BiFD
Vulnerable Customers
1st Line Quality Assurance/Outcome Monitoring
Service Benefits
Benefit:
A Target Operating Model (TOM) provides a blueprint as to how your operation should be structured and run in the future to bring value and prepare you for growth.
Our experience across the sector allows us to quickly identify gaps and risks within your Current Operating Model. Unlike traditional reviews, we work with you to address these issues, and outline recommendations aimed to bring efficiencies and reduce risk through a streamlined TOM.
An effective TOM will result is less time being wasted on unnecessary activities or seeking excessive validation, reducing overall costs for your business. These efficiencies will also improve service levels, driving improved outcomes and customer satisfaction results.
The firms we work with also report an increase in colleague engagement and morale following TOM activities, as clear processes and structure have given colleagues autonomy and a sense of purpose that was previously missing.
For any operation to be successful it requires strategic oversight of people, processes, technology and governance.
An effective Operating Model enables this, providing the framework as to how the various elements and your people should operate together to deliver your company’s goals. Signs that suggest your current Operating Model requires review could be any combination of:
Inefficiency and Process Bottlenecks
High or Rising Operational Costs
A disconnect between your company’s strategy and your current delivery
Regulatory risks due to changing requirements or reporting challenges
Consistently falling below SLAs and delivery targets
Reduced Customer Satisfaction, evidenced by NPS scores, increased complaints, or customer attrition levels
Slow decision-making and change processes
Outdated systems and increasing manual workarounds
Limited Growth
Reduced Colleague Engagement
Square 4 can help address these common problems, and bring to life how your operation should be structured to deliver your strategic objectives, and also build in the flexibility and resilience required to cope with future changes.
Q. What is a Target Operating Model (TOM)?
A. A Target Operating Model (TOM) does not describe your current operation. It is a blueprint and series of recommendations that sets out how an operation should be structured in order to efficiently deliver its objectives and growth aspirations. Our review process starts by assessing and understanding your existing operating model, which allows us to identify your current gaps and challenges. We will then design an individual recommended TOM, which will cover how your functional area needs to be structured and operate to achieve your strategic, consumer, regulatory and business goals.
Q. Why is it important?
A. An outdated or an ineffective operating model will cost your business considerable time and money. However, when your Target Operating Model is designed correctly this will drive efficiencies and cost reductions, ensure good outcomes for your customers and support your future growth aspirations.
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