Strategic CIO // Enterprise Agility
Commentary
8/12/2014
09:06 AM
Kathy Burger
Kathy Burger
Commentary
Connect Directly
Google+
Twitter
RSS
E-Mail
50%
50%

How BNY Mellon Scales Process Improvements

Along with streamlining operations and eliminating silos, the investment management and services firm found ways to replicate excellence across the enterprise.

Growth is good, but along with increased revenues and marketshare, there often are big challenges in efficiency, scalability, and performance. One financial institution that has faced these challenges head on is New York-based BNY Mellon, which as a result of acquisitions and the growth of various business and investment services found itself hampered by siloed business operations, duplicated functions, and inefficient processes. The investment management and investment services company has committed to a concept of continuous process improvement, "a process-focused effort that leverages lean methodologies," reports Jeffrey Kuhn, executive vice president and co-head of client service delivery for the company.

The streamlining effort started about five years ago, says Kuhn, who is responsible for what he calls "change the bank" operations and program management, and for a number of control and regulatory-related functions. His "co-heads," Andy Bell and Peter Johnston, oversee middle-office (which includes business units such as accounting services and corporate trust services) and shared-office (what Kuhn terms "centers of excellence," such as billing, reconciliations, and cash processing) operations.

In 2009, there were a number of discrete businesses across BNY Mellon, each with its own chief operating officer. "I was COO for six of the businesses at the time," Kuhn notes. Recognizing that, as "a technology and operations company that supports our financial services and investment services model," this had to change, the institution embarked on what it called an operations transformation. According to Kuhn, "We were looking to identify common functions and create horizontal centers of excellence. We did this for about half of processing businesses in the bank."

Read the rest of this article on Bank Systems & Technology.

 

Katherine Burger is Editorial Director of Bank Systems & Technology and Insurance & Technology, members of UBM TechWeb's InformationWeek Financial Services. She assumed leadership of Bank Systems & Technology in 2003 and of Insurance & Technology in 1991. In addition to ... View Full Bio
Comment  | 
Print  | 
More Insights
IT's Reputation: What the Data Says
IT's Reputation: What the Data Says
InformationWeek's IT Perception Survey seeks to quantify how IT thinks it's doing versus how the business really views IT's performance in delivering services - and, more important, powering innovation. Our results suggest IT leaders should worry less about whether they're getting enough resources and more about the relationships they have with business unit peers.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek Tech Digest September 24, 2014
Start improving branch office support by tapping public and private cloud resources to boost performance, increase worker productivity, and cut costs.
Video
Slideshows
Twitter Feed
InformationWeek Radio
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.