Project Summaries

Process Realignment for Engaged Lending Teams

Process Realignment for Engaged Lending Teams

Project Details

Client:

WSFS Bank Consumer Lending

Opportunity:

A large and growing regional bank wanted to align processes between multiple locations, improve scalability, and drive efficient and effective team performance

Approach:

Engaged Team Performance (ETP)

  • Led team in reviewing the core processes to fully understand work performed within the departments and how it differed between locations
  • Developed a time study to measure the work volume and time to complete each task
  • Eliminated non-value-added work and handoffs between locations to speed up the process and achieve Service Level Agreement targets (SLAs)
  • Developed a workflow tracker where management and team members could easily see the incoming work, volume in queue, and completed work by product type

Results:

  • Streamlined the Loan Satisfaction process – eliminated 35% of the process steps, reduced work time from 23 minutes to 15 minutes per loan satisfaction, and reduced the turnaround time from 2-3 months to 10 days
  • Improved management reporting by providing visibility to queue backlogs and providing data that can be used for predicting future staffing needs

“This investment in process analysis has been integral to reaching SLA on key deliverables to our customers, and it has freed up capacity to allow us to grow our business in a scalable way. It was amazing to see the team work together to change how we are performing the work and take ownership driving in these changes.”

~ Jim Wechsler, SVP, Chief Retail Lending Officer

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