Improving the investment account opening process for an investment team of Bank ABC

• Main Author: Co, Philana Luisa U.
• Format: text
• Language: English
• Published: Animo Repository 2020
• Subjects: Reengineering (Management); Investment banking; Business Administration, Management, and Operations
• Online Access: https://animorepository.dlsu.edu.ph/etd_masteral/6186; https://animorepository.dlsu.edu.ph/context/etd_masteral/article/13278/viewcontent/Co_Philana_Luisa_U._11572590_edited.pdf
• Institution: De La Salle University

This Action Research project aimed to improve the turnaround time of account opening for an Investment team of Bank ABC, one of the leading investment sales Department in the country, through the introduction of an account opening document generating tool and subsequently changing the process flow. Since the team was formed in 2008, our growing number of accounts has put a strain on our account opening capabilities and caused numerous delays which hindered us from achieving our sales targets. With the guidance of Action research principles, my collaborators and I have determined that the delays were caused by a lack of proper account opening guide and numerous revisions to the documents that have brought confusion and wasted effort to all who were involved which include the branch personnel, the Investment specialist, back office processing team, and ultimately, the client. Guided by the DMAIC Framework and Lewin’s Change Management model, we were able to create a better process for our Investment Account opening and our sales team after two action research cycles was completed. Through this project, I was able to share my knowledge and learn about the different personalities of my collaborators as we worked together in tackling the problems at hand. Moreover, I have realized that without a dedicated team and their efforts, this project would not have been a success.