Operational excellence
For financial institutions and market infrastructures achieving operational excellence requires deep expertise
Operational excellence
The drive for operational excellence
All financial institutions are being asked to achieve operational excellence, regardless of their role or location. This push comes from numerous angles, including regulatory oversight, reduced margins and increased cost pressures demanding greater efficiency.
The reputational consequences of operational failure are ever-present, and customers expect high-quality products and services. You also need resilient operating centres, a robust business continuity plan and 24/7 operational monitoring.
The challenges of adopting the right governance, processes and controls are significant, so you need the right support, services and expertise.
Targeting operational excellence at Rabobank
Five pillars of operational excellence
Financial institutions and market infrastructures must enact processes and controls across five key pillars. People and culture involves relevant training, certification, formal planning, and management. Processes involve software deployment, monitoring and control, and change, incident, and crisis management. Assurance necessitates procedures to ensure readiness (requirements, sign-off, deployment and testing), BCP and resilience, and compliance. Command and control concerns process and security monitoring and well-defined roles. And continuous improvement, strives to always push the bar higher.
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Enact strict governance, processes and controls spanning five pillars
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Align the organisation to maximise efficiency, eliminate redundancies
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Leverage external organisations if internal resources are insufficient