Posted on 14, January 2014
in Category bsg insight, practitioner experience
On a recent engagement for a global retail bank, I was lucky enough to have the opportunity to travel to 10 of the African countries in which they operate. The project entailed examining the source of poor debt quality in the region and focused on collections and recoveries operations. Following a three month project, we noted a number of common issues facing banks across the 10 countries. It is felt that overcoming these issues will offer significant benefits in terms of portfolio profitability, debt quality and customer service to name a few, but is it as simple as that? Lack [&hellip
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Posted on 13, January 2014
in Category bsg insight
Do you remember the story of Eva and Tim? Refresh your memory here. While there is no one-size-fits-all answer to Eva’s predicament, there are a series of dimensions which she can consider to help shape how she chooses to respond. In this post, we explore those dimensions. In our experience helping clients with compliance projects, we’ve noticed some fundamental aspects in which these regulatory change initiatives are different from other business-driven change initiatives. We thought we’d share 5 of the most distinctive differences, which you might have already considered in Eva’s struggle. Drop dead dates Deadlines are fixed and set externally. [&hellip
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Posted on 7, January 2014
in Category bsg insight
Have you ever experienced a project delivering regulatory change? Did you notice any differences compared to other projects? Here’s a little story inspired by our experiences. Any connections with real life characters are unlikely and even if you are new to regulatory work, don’t stop here; you will still enjoy it. 21st century London. Seagulls fly around the Shard, light drizzle dampens the pavement and the Waterloo and City line still resembles a tin of sardines more than a tube. Eva, is a business unit leader at the retail arm of First Compliant Bank (FCB). Her team uses an internal system [&hellip
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