Training

Design for Operational Excellence™ Training: Lean for Financial Services

Lean Practitioner Course

Given the constant challenges facing all financial institutions to enhance their efficiency and income ratios, especially in the current economic environment, Venturehaus has recently helped over 50 businesses in the industry to reduce costs significantly and to do “more for less”. The simplest, quickest and most effective way of doing this is by applying a Lean approach to the business’ operations. This will help to rationalise and streamline all core activities and processes, and, within rapid timelines, results in significant improvements in cost, capability and capacity. Using this approach, businesses can typically realise sustainable improvements of, on average, 30 to 40% within a 3 month period.

A core component of the Lean approach is that an institution needs to be capable of implementing it internally across its businesses on an ongoing basis. In order to achieve these results, and then sustain them on a continuous basis, an organisation therefore needs to provide its management and staff with the skills and understanding which are relevant to its particular business. Although Lean originated in the car manufacturing industry, it can be very effective in the financial and other services industries, but only if the approach is specifically adapted and if the tools and techniques are selectively applied where appropriate.

Venturehaus has a proven track record in the application of Lean in financial services and in other service businesses. Our consultants and trainers have backgrounds in operational management, and have extensive experience of applying Lean across the industry in capital markets firms, insurance and asset management companies, through to retail banks and government agencies. This expertise has been brought to bear in the development of our Lean approach, which is specific to financial services businesses, and in the creation of our training courses in Lean for Financial Services.

The practitioner course in Lean for Financial Services provides a pragmatic, but comprehensive, foundation for participants at all levels in a business which is applying the Lean approach to its organisation. Key features of this five-day training course are:

The participants will be equipped to deliver significant and immediate benefits to the business such as capacity creation, and FTE and other cost reduction
The participants will be able to identify and track suitable management information to understand the performance of processes and the true benefits of any improvement work
The course specifically teaches pure and practical Lean techniques, avoiding the confusing technicality of other, less applicable, process improvement methodologies
The course incorporates best practice techniques such as risk identification and control – crucial when improving the management of financial transactional processes
The course adopts the Venturehaus training approach of “teach” then “do” using the practical, simulation-based instruction methods which are proven to be most successful in achieving adult learning
The inclusive nature and business focus of the material enables participation at all levels and in all areas of the organisation

Our experience has shown us that unless training course participants have a simple and effective framework to support their learning in the classroom, they struggle to deliver any tangible results on their return to the office. This training therefore takes place in a simulated operational environment where trainees each assume a role within a financial services process and must use the skills they are taught to deliver real-time improvements during the course.

Over 5 days of tuition, group exercises, case study discussions and the practical implementation of improvements to the simulated business processes, the course takes trainees through the Venturehaus 5-stage Lean approach:

Plan: Participants are introduced to the simulation and taught to engage with the sponsor of their Lean project. Utilising tools such as the Lean Charter, participants scope the Project, gathering business and customer requirements to enable them to understand what the aim of the improvement work should be.

Visualise: Participants learn about the history of Lean and begin to use Visualisation Tools to map the Value Stream of the simulation. Data is collected by the participants to better inform the Value Stream Map. An Information Point is set up.

Evaluate: Participants are taught about Waste and Value, and use these skills to review the Current State and highlight Quick Hits for immediate benefit. Problem Solving techniques are used, to identify improvement opportunities for eliminating and reducing Errors, and data is captured to track the benefit.

Streamline: Participantslearn about the importance of Flow and Pull within processes and use Lean tools to analyse the Customer Demand and Balance the Process accordingly. A Future State Value Stream Map is created to Visualise how the process will be improved and Action Plans are drawn up.

Sustain: Participants are introduced to the concept of Standardised Work and also assess the potential Risks associated with the proposed Future State. Using a Risk Assessment tool, participants are able to plan effectively for any Failures that might occur.

Throughout each of these Lean stages, participants are taught not only the Lean tools and techniques but also the practical skills required to use them and to deliver real results in their business environment. This combination of “teach” and “do” is the cornerstone of Venturehaus’ training approach. It consistently generates exceptional feedback from participants and business sponsors alike, primarily as a result of the participants being capable of delivering benefits immediately on their return to the office.

"This course was the most interactive I've been on. It was worth every minute, and I'm excited to see how I can put it into practice now. Amazing training! Captivating instructor! Compared to (the previous provider), Venturehaus really filled the gap in the Lean knowledge." – Investment bank

“This is by far the best course I have been on. The balance of theory to practical exercises was just right. The presenters were knowledgeable and kept me interested. Thank you very much. I have learned a massive amount.” – Retail bank

“Excellent course, the simulation exercises and practical work were very good. Tools were broken into easily understood ‘chunks’ and I look forward to implementing them. Everything was great, and will help us see this through to full implementation at all levels i.e. manage our business more effectively and efficiently.” – General insurance company

"We got far more detail than previous Lean sessions, emphasis was on using the theory in practice. Excellent pace, focus and materials all provided the correct level of engagement and interest I am definitely going to be able to apply what I have learned in the future." – Asset management firm

"Excellent presentation in a detailed subject. It will help us generate more revenue, save time and organise teams."Overall I thought the course was excellent and spot on for needs in corporate banking.“ – Corporate bank

"This has been the most powerful development course that I have attended. Lots to learn and move forward with which I am very excited about. Huge learning curve ahead but I have found the tools we covered most useful. Thank you, outstanding." – Life and pensions provider




	"This course was the most interactive I've been on - It was worth every minute, and I'm excited to see how I can put it into practice now!" Major US investment banking and financial services provider

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