Real Results

Our Real World Experience— Shared to Solve Your Real World Problems

Corporate Trade Services Operations

Client:

International Commercial Bank

Division:

Corporate Operations

Contact:

Head, Corporate Operations

Major Functions:

Trade Services

Situation

The client was experiencing problems due to a poorly organized trade processing environment:

  • No formal receipt or registration upon receipt of work.
  • No method of formal distribution of work to the various processors.
  • No order of dispatch of work back to customers upon completion.
  • No MIS tracking of daily work received or completed.
  • A lack of line balancing and work distribution.
  • A low staff skill level, particularly in key processing areas.
  • A poorly organized workplace.
  • No differentiation in processing of high revenue customers’ work.

LoBue Recommendation

Restructure organization and redesign processes to improve customer service and increase operating efficiency. Greatly reduce hand-offs, redundant processes and low risk verification procedures. For example:

  • All incoming documents are to be received and time stamped at the counter by the customer service representative.
  • Empower clerks to call customers concerning document checking issues and verify customer balances and process transactions within limit; Trade Manager to authorize debit to refunds/reversals up to a specified amount; and support to verify customer confirmation.
  • Eliminate preparation of manual proposal form and accept customer offering sheet as working document.
  • For non-finance payment bills, phone all ordinary customers if amount of payment exceeds US$25,000. Initiate program to obtain blanket guarantee from as many customers as possible to eliminate individual indemnity requirement.
  • No checking of documents relating to drawings valued at less than US$1 million, which have been negotiated and checked by Group Officer.
  • When client bank advises L/C’s issued by another branch, client is required to verify the signatures on the L/C if the amount exceeds US$15,000. Raise the amount to US$50,000.
  • Empower Signature Verification clerks to verify customer signatures up to US$100,000. Those transactions over US$100,000 and transactions to debit the customer’s account will be dual checked and initialed by an officer.
  • Elimination of Signature Verification for amounts below US$50,000, on export bill collection orders unless proceeds are being credited to a third party account.
  • Against a suitable indemnity, accept fax instructions for: Import L/C, L/C amendment, guarantee application, guarantee amendment and request for drawdown under pre-shipment finance.
  • Release Authority: empower designated clerks to check and initial import transactions which fall within staff officers authorized limits and to check and release LC Advising transactions up to US$10,000.
  • Amendment/Cancellation Authority: empower designated clerks to amend transactions for correction and empower team heads to sign/initial telex correspondence.

Real Results

Rationalization of all trade process flows, streamlining operations and improving timeliness and cost effectiveness of service delivery. A 30% productivity improvement and 99% same day service on all transactions was achieved based on:

  • Creation, approval and implementation of all process recommendations developed as “best practices”.
  • Creation of a new organization structure reflecting market requirements and customer service demands.
  • Identification of the requisite skills for each new position within the restructured organization and completion of a skills inventory of the current staff to match current skills to skills required; training of all staff accordingly.
  • Determination of management information needs, including review and evaluation of existing MIS and enhancement of reports.
  • Development of capacity/resource utilization plans and production standards based on product volumes and processing standards.
  • Creation of bank and customer service delivery standards.
  • Creation of “priority” services for high revenue “gold card” customers.

Get Real Results

Learn how other companies have already solved your biggest challenges. Just tell us your desired Service and your Sector. We will assemble a custom report filled with highly-relevant case studies. Each will outline a path you can follow to results.

Connect with us
Results Assistant