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Finalyse - Composing solutions for Finance

Risk Process Improvement (RPI)

Objective of RPI

Our Risk Process Improvement (RPI) service aims at streamlining risk processes in order to achieve cost savings, improve output quality and ameliorate time management. 

It can bring value to you if your organization is facing a number of the following issues:

  • Organic growth in response to corporate and regulatory needs has resulted in a multi-layer patchwork risk framework that rely heavily on semi-manual Excel or Access based tasks.
  • Too much time and resources are wasted on non-value added activities: the gathering of duplicate data, redundant checking, manual workarounds, reformatting, investigating discrepancies and many other mundane tasks. 
  • Time is lost because of delays in getting the work from one person to the next in the chain, and because people misunderstand each other. Dependencies across the organization create bottlenecks that threaten important corporate or regulatory deadlines.
  • A high occurrence of mistakes or their detection too late in the process hints that inputs and data flows are not sufficiently under control. Operational risk is too high.
  • Processes are not documented or existing documentation is obsolete.
  • Risk professionals in the customer’s organization are not able to focus on what matters most: analysing the risks, unearthing patterns or trends and sending the right signals to the executives.

What benefits should you expect?

  • Cut delivery times
  • Reduce cost and raise quality
  • Optimize the whole value chain
  • Redeploy the skills of risk and finance professionals
  • Improve the control on the inputs
  • Increase flexibility and responsiveness
  • Ensure robustness, durability and scalability
  • Improve communication and governance

Why trust Finalyse with a Risk Process Improvement (RPI) mission?

Finalyse brings a fresh look into complicated situations. Independent insight allows us to challenge well-trodden paths and legacies from the past. Besides extensive field experience allows Finalyse to stand out from competitors in the field of Business Process Management. Finalyse consultants are seasoned hands-on professionals with a proven track record in designing risk & finance solutions that suit the customer’s needs.

How does an RPI mission unfold in practice?

Chart 1
Chart 1

 

 

RPI begins with a broad understanding of the nature and scope of the problem. The problem in essence is the difference between what exists now and what is desired, i.e. how the process ought to work once it is “improved”.

This initial phase (1) is often best carried out by means of a preliminary assessment where a “helicopter review” allows Finalyse to pin down the scope, the deliverables and investments of the potential RPI project (see chart 1).

Note that the preliminary assessment may be proposed as a standalone service (see chart 2).

Chart 2
Chart 2

 

 

 

The detailed study of what the As-Is is or is not doing is the focus of the second phase (2).

Then a redesign phase defines what the To-Be process should do (3). The feasibility of alternative strategies is studied and the best alternative gets the go-ahead. Corresponding functional analysis are produced. 

Once the plan is in place the improvement process is implemented and continuous improvement is aimed at (4).

If you are interested in these services, do not hesitate to contact Silvio Santarossa for more information.

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