Exception Reporting Optimization

Desired Capabilities

Regulatory Compliance
Operational Risk
Governance and Policy
Issue Management
Exception Reporting
Risk-Based Prioritization and Escalation
Framework Development
Training Enhancements

The Situation

In support of an initiative to improve customer experience and increase both back-office and branch operational efficiencies, a bank sought our assistance to enhance their Retail Bank document exception process by creating a prioritization methodology and escalation process, developing a framework document, and providing updated reporting recommendations.

The Challenge

Provide a comprehensive review of various processes across multiple lines of business while capturing detailed, practical recommendations for the bank to implement that positively impact the customer experience.

Meaningful Outcomes

Documented overarching exception reporting framework
Identified gaps in processes and drafted account closure procedure
Created an inventory of operations codes documenting prioritization and account closure assignment types
Executed reporting enhancements including both revised and new reporting routines
Documented and implemented training recommendations to support implementation for both Retail associates and management

“Spinnaker effectively and efficiently navigated complex organizational and platform ecosystem challenges to deliver solid continuous improvement solutions that will save associates time, increase accuracy, improve management reporting, and accelerate customer experience enhancements.”

Our Approach

All project phases incorporated review and feedback from key partners from the Retail line of business, Bank Operations Managers, Deposit Operations, the BSA/AML team, Marketing, Compliance, Security, Reporting team, and the Training team.

Phase 1: Identification and review of activity types to develop prioritization approach and ensure functionality within the DNA system.
Phase 2: Creation of an account closure process for certain high priority exceptions, which if they remain unresolved, create fraud, compliance, or BSA/AML risk to the bank; account closure codes were identified as part of this review.
Phase 3: Review of existing reporting resulted in reporting enhancements that add expanded views for both associates and leadership (including prioritization/account closure), along with development of a new executive-level report.
Phase 4: Finalizing the overarching Framework document and account closure procedure that incorporated the work in the above-mentioned phases.
Phase 5: A training rollout plan was documented and communicated to support implementation of the work.