European

Transcription

European

Report 2011 | 2012
I n t e r n a t i o n a l
Prof. Dr. Bernd Rolfes
Profile and profitability – Banking business
models at a turning point
The general conditions for the financial industry have changed significantly.
Banks and savings banks face enormous challenges. Since the outbreak
of the financial crisis, a new need for security prevails in the capital
markets, and at the same time, funding and liquidity protection have
become a decisive bottleneck for many institutions. In addition to the
funding structure, investors also consider the lending business alignment
and quality as well as – in particular with global banks – the balance
sheet leverage from investment banking.
The sovereign debt crisis has reinforced this development. Apart from the
direct open and hidden liabilities, the crisis tore down a major cornerstone
of the past finance business since government financing is no longer
granted risk-free status. This is aggravated by the subsequent insecurity
about the future economic development and the extremely low interest
rate level caused by the structural growth limits in the highly developed
industrialised countries and the sovereign debts issue.
The developments in the financial markets and the state and macroeconomic conditions and in particular the new regulation put large or
mainly capital-market-oriented financial institutions under considerable
pressure to adapt. The variety of new restrictions, the increased minimum
requirements for capital and liquidity as well as the requirement to withstand these distinct stress situations largely delimit the scope of actions
– even leading to existential issues for entire business segments.
As a consequence, the banks need to review their business models and
prove to themselves and to the critical public opinion that they are
able to create balanced and sustainable portfolio structures and to
generate a profitable growth with limited risks even under stricter requirements. Confidence and social acceptance can only be regained with the
help of verifiable services and sustainably value-adding activities for the
real economy and a strong orientation towards the actual needs of the
customers. This requires a new corporate identity up to a paradigm shift
in required return and a reassessment of the shareholder value approach.
At the same time, the changed environment leads to a dramatically increased competition in the deposit-taking and lending business. The new
liquidity regulations and the funding bottlenecks in the capital market
thus create a clear trend towards deposits and securitisations, while the
battle for customer deposits and the best assets (notably as a basis for
|3|
Prof. Dr. Dres. h. c. Henner Schierenbeck
securitisations) is in full swing. To secure the competitive position, innovative corporate policy approaches as well as a stronger operational efficiency and effectiveness will need to be developed. They should account
for the need for sustainability and the regulatory changes from a strict
constraint to a business-model-influencing parameter and also consider
society’s continuing digitalisation and virtualisation.
The adjustment and refinement of the business profile and its implementation implies numerous questions and tasks that need to be tackled.
Which required return can be derived from the company’s business model?
Which implications do the loss of risk-free interest rates, distortions in the
money and capital market, a revaluation of risks and interest rate competition (even in the deposit-taking business) have on bank-wide risk and
profit management? How are the products and the sales approach to be
aligned in terms of sustainability and demand orientation? How do the
service and sales processes need to be structured with respect to
efficiency and effectiveness aspects? Which implications do processbased and management requirements have on IT strategy and organisation? When dealing with necessary change processes, how do you make
use of the entire organisation and thus the relevant assets capital and
liquidity as well as the decisive factor for sustainable success: the bank’s
employees?
We would like to thank our customers who rely on our support in strategic
and innovative subjects as well as in challenging and demanding implementation activities. The financial sector faces an extremely difficult time
and we see it as an incentive to support our customers with creativity,
own judgements and sound business-specific and methodological work.
For nearly 20 years now, we have attached great importance to transparent activities, and with this report, we continue to keep our work as transparent as possible. We would particularly like to thank all customers who
– using their good name – report on the projects performed with zeb/.
zeb/’s particular development – starting from scratch two decades ago –
is mostly owed to the more than 750 employees and by now 50 partners
as well as the management board. We would like to thank them all for their
skills and commitment to demonstrate zeb/’s potential every single day.
Prof. Dr. Bernd Rolfes
Prof. Dr. Dres. h. c. Henner Schierenbeck
|5|
| Contents
zeb/
8 zeb/ – Your partner for change in the financial services industry
Topics
Finance and Risk
24 Bundesverband der Deutschen Volksbanken und Raiffeisenbanken
Conceptual design and prototype implementation of Basel III liquidity framework
28 Raiffeisen Bank International AG
Setup of integrated financial management architecture
31 Erste Group
Enhancement of group limit management and exposure reporting
34 Volksbank Romania S.A.
Loan restructuring and workout optimisation
39 Volkswagen Financial Services AG
Worldwide rollout of funds transfer pricing system
Information Technology
41 Avaloq Evolution AG
MIS add-on module for Avaloq Banking System based on zeb//control
45 ESPRIT Netzwerk AG
Introduction of zeb//control in bank network
Retail and Corporate Business
50 Postbank Finanzberatung AG
From efficiency improvement to the “2016 Build the Future” growth programme
54 Alfa-Bank Ukraine
Re-design of credit process for corporate clients
57 DZ PRIVATBANK
Private banking market initiative – strategy confirmed by pilot tests
|6|
| Contents
Organisation and Transformation
60 Deutsche Bank AG
Retail Target Platform investment processes – New regulatory requirements in securities
advisory services
64 Hypo Alpe-Adria-Bank International AG
Optimising organisation and governance
68 BMW Financial Services
PRO-FILE quality assurance
Strategy
71 Bundesverband deutscher Banken
Strategic realignment
Human Capital
74 Bankhaus Sal. Oppenheim
Mission: Success
zeb/studies
78 zeb/studies
Markets in focus
83 Contact
84 Imprint
|7|
zeb/ – Your partner for change in the
financial services industry
Challenges in the financial services sector
2011 will go down in history as the year of the euro crisis. The challenges
of the past months have had a lasting effect on the international financial
industry. While by the end of 2010, everyone was sure to have done the
necessary homework and looked forward with optimism, the financial crisis
triggered in 2008 irrevocably transformed into a veritable sovereign debt
crisis by 2011. In the meantime, some countries face such an enormous
debt burden that the risk of a fiscal collapse of single countries with
corresponding consequences for financial institutions is now within the
realm of possibility. The implications of this development afflict the entire
global financial sector. On the one hand, the regulatory effort of governments and international organisations increased significantly, on the other
hand, the price collapse of some European government bonds directly
affected and further aggravated the already tense profit situation of
numerous financial institutions. This led to a restrictive cost management
in combination with a considerable effort to secure the achievements that
were made since the 2008 Lehman crisis.
Hence, when looking at the 2010 annual results of the German financial
industry, major improvements in terms of return on equity can be observed
throughout the majority of the banking groups. While achieving a negative
pre-tax RoE of -0.8% in 2009, the banking sector was able to increase the
RoE figures to 5.2% in 2010. However, the return on equity still remained
clearly below long-term averages. The overall positive revenue performance
is again based on largely heterogeneous results of individual banking
groups. The RoE development in the major developed banking markets
Western Europe, North America, Japan and Australia demonstrated a
positive performance of 8.6% after tax in 2010 (compared to 3.6% in
2009). Here, a clear upward trend can be observed since the bottom of
the financial crisis, even if it is still a long way to the 2006 RoE figure of
18.7%. And even in the fast growing markets Asia and South America
which proved to be relatively stable during the crisis, the return on equity
improved on a consistently high level reaching 17.8% (16.5% in 2009). On
the basis of the results reported so far, we assume that in 2011, the
average return on equity in the named banking markets will remain on a
similar level as in 2010.
The developments of the market capitalisations during 2011 already
clearly indicate the negative impact of last year’s euro crisis: From the
end of 2010 to the end of 2011, the 25 largest banks worldwide apparently
faced average losses of 20%, in individual cases even up to 50%. Only
|8|
some banks were able to generate profits ranging from 2% to 6%. The
spirit of optimism due to the first gains made by numerous banks during
2009 and 2010 – following the financial crisis – could hardly be noticed
anymore. The top 25 insurance companies faced similar difficulties, with
average losses of -17% and only rare increases of market capitalisation.
Taking a closer look at the formula for success of those institutions that
performed profitable economic activities despite the ever-present crisis,
stable customer relationships and a healthy deposit-taking business
revealed to be the most decisive elements. Just as the capital markets
and the wholesale banking business proved to be an unreliable founding
source, the traditional private and corporate customer business sustainably contributed to the economic stabilisation even of major financial institutions. In the future, an open and transparent customer relationship
management and a stronger mutual trust between credit institutions and
their customers by means of a reliable framework aiming at stability and
credibility will become more and more important. In this context, customerrelated activities in investment banking will be all the more justified and
significant from a profit perspective.
Moreover, a large number of already existing and new challenges require
credit institutions to provide individual and innovative solution approaches:
/ The new capital regulations that become effective on a step-by-step
basis until 2018 according to the provisions of the Basel Committee
present various institutions with considerable challenges. Especially
for large or state banks, the pressure to act is further intensified by the
European Banking Authority’s (EBA) short-term additional requirement
to increase the core Tier 1 capital ratio to a minimum of 9% by the end
of June 2012. Whereas in the German savings bank and cooperative
bank sector, the conversion of §340f HGB reserves into open §340g
HGB reserves is the prevailing concern. This implies options for smoothing annual profits in the course of time and, if applicable, necessary
amendments of articles of cooperative associations that allow for a
recognition of cooperative shares in the regulatory capital.
/ The first experiences made in the 2011 Basel III liquidity requirements
projects have shown that realising the new liquidity key figures – in
particular the Liquidity Coverage Ratio (LCR) – requires enormous implementation efforts and has considerable implications on the respective business policy. In addition to the asset allocation issue and its
effects on the credit institution’s revenues, the new key figures also
entail a review of the applied maturity transformation and of the product-specific incorporation. Besides these technical challenges for realisation, it has become evident that the task of linking the new liquidity
|9|
key figures with the bank-wide risk management and its integration into
a limit system should not be underestimated and, what is more, should
be largely completed for the LCR by the end of 2012.
/ Insurers will face massive implications on their business models
caused by the Solvency II regulations. A comprehensive business
analysis in terms of revenue and risk aspects will provide a new transparency as to the value contribution of single divisions. The most
drastic implications are expected for some parts of the life insurance
business. Today, sub-portfolios already exhibit low profitability. Therefore, it will be mandatory to design insurance products that meet riskoriented revenue requirements and bring a reproducible benefit to the
customers.
/ An excellent personnel management represents a key factor for the
performance and profitability of complex financial services. This applies
for the entire personnel life cycle from recruitment, retention and
development up to workforce expansion and personnel restructuring.
Companies can only meet the increasing requirements concerning
flexibility and learning capacity by opting for a highly professional
personnel planning and management.
/ The most significant challenge within the customer business is the
adequate reaction to the “virtualisation and digitalisation” mega trend.
In the long term, the resulting changes will constantly and fundamentally influence the business models, in particular in the private customer
business. None of the financial institutions seems to be adequately
prepared for this mega trend which might – admittedly with some
delay – materialise Bill Gates’ “Banking is necessary, banks are not”
statement.
But the greatest challenge for financial service providers consists in the
strategically correct handling of all upcoming tasks and the correct
valuation of opportunities and risks and in the success-oriented and
detailed implementation of projects under high pressure. As a partner for
change, zeb/ is strongly committed to support its customers in facing this
challenge.
As a highly specialised consultancy for the financial services sector, we are
perfectly equipped for all kinds of topics, customer groups and national
and international markets. We attach the greatest importance to innovative project work with a clear customer focus. Our success is measured
using the following question: Can we generate a positive value contribution
with this project?
| 10 |
Andreas Schick
Dr. Stefan Trost
Dr. Carsten Wittrock
Dr. Wilhelm Menninghaus
Heinz-Gerd Stickling
Dr. André Ehlerding
Dieter Kipp
Prof. Dr. Stefan Kirmße
Dr. Dirk Holländer
Dr. Alexander Henk
Dr. Klaus Strenge
Carola Ernst
Not in the picture: Christian Legény,
Stephan Kruft, Rainer Windler
Lars Gehner
Horst Andreas Kleinlein
Dr. Jens Sträter
Dr. Thomas Bannert
Simon Grimm
Dr. Olaf Scheer
Elke Benning-Rohnke
Jürgen Hofner
Dr. Matthias Uebing
Dr. Jens Eickbusch
Stefan Kaufmann
Axel Oliver Sarnitz
Martin Danne
Dr. Christian Heitmann
Thomas O. Klimpke
Dr. Markus Thiesmeyer
Dr. Katrin Lumma
Dr. Andreas Rinker
Dr. Thomas Abel
Dr. Markus Wilpert
Dr. Thomas Hartschuh
Dr. Ralph zur Brügge
Stefan Geipel
Ulrich Hoyer
Thomas Engeln
Johannes Stengl
Dr. Sven Jansen
Christoph Bundschu
Dr. Michaela Schneider
Werner Konezny
Heinz Rubin
Dr. Patrick Tegeder
Dr. Rüdiger Frischmuth
We not only try to find precise solutions, but also a measurable and sustainable implementation success. We believe that specific industry knowhow is mandatory to create tailored solutions and marketable concepts.
Linking strategic-intellectual expertise with excellent implementation techniques remains our decisive feature. This is achieved with detailed practical concepts, excellent IT expertise and the cooperation of our
employees and customers.
Our strategy and organisation
In order to properly fulfil the requirements placed on consulting firms, we
have established a specific positioning and setup. On the one hand, with
our matrix organisation we focus on providing our customers with a holistic
support by the relevant market managers (client units). In 2011, we have
significantly expanded our respective line-up for the insurance business.
On the other hand, our competence units provide expertise that is characterised by strategy competence and in-depth knowledge, including
functional details, combined with broad practical experience in implementation. This approach differs strongly from those applied by our competitors who generally organise themselves into industry-related practice
groups. As to content, we bundle our thematic competencies into six competence units:
/ Strategy
/ Sales
/ Organisation and Transformation
/ Finance and Risk
/ IT
/ Human Capital
The Strategy competence unit supports our customers in formulating and
adjusting approaches which affect the bank as a whole as well as specific
business areas. This allows our customers to constantly adapt their competitive profile to the changing market conditions to assure long-term
sustainable growth.
We have a dedicated unit for all sales issues in both the retail and corporate business of the financial services industry which is able to draw on
broad experience, also from the international environment. Project
assignments range from new, promising market positioning to leveraging
potential through pricing strategy and adjustments to sales processes,
for example, up to multi-channel integration of sales channels.
The Organisation and Transformation competence unit provides our customers with support in holistic restructuring, the setup of efficient gover-
| 15 |
nance structures, end-to-end optimisation and the increase in efficiency
of bank and insurance-specific processes, sourcing strategy optimisation
and the enhancement of operational platforms (Target Operating Model)
for transaction banking, the lending business and investment banking,
and in the design and implementation of a holistic quality management.
We also provide support in strategic preparation, conceptual design and
implementation of merger and integration processes.
The Finance and Risk competence unit works on all issues of bank management from an economic, regulatory and financial accounting perspective, often in close connection with IT issues. Assignments range from
strategic issues related to enhancing the corporate management of global
banks up to implementing the new regulatory framework. In 2011, we have
achieved a remarkable success with the transfer of these core competencies to the energy sector in which the risk management and controlling
issues are quite similar to those of the banking sector.
In addition to the zeb//control product line, the IT competence unit provides IT consulting services with regard to bank management issues, DWH
architectures, general IT strategies and development plans. With regard to
SAP Banking®and with the support of our subsidiary findic/, we also offer
purely implementation-based solutions.
Whether it is a matter of motivating staff, avoiding productivity losses, empowering or filling staff with enthusiasm for a new approach – getting employees directly involved is essential for the success of any implementation
process. In order to better meet this requirement, we have extended our
competencies in change management and bundled them with our
expertise in training and HR management so as to form the Human Capital unit. In cooperation with other units, we are now in a better position than
ever before to implement functional solutions effectively and sustainably.
Our performance and results
In 2011, we achieved a turnover of EUR 130 million, thus expanding and
consolidating our position as a leading, highly specialised consulting company for the financial services industry. As an innovative consulting partner, zeb/ maintains its position among the top consulting companies in
the German-speaking market and also gains increasing international recognition.
Broken down by customer groups, 40% of our turnover is attributed to global banks, 18% to regional banks and 19% to specialised commercial
banks, insurances and other companies. Our international markets have
significantly contributed to our turnover – the proportion of turnover from
| 16 |
Dr. Andreas
Dr. Olaf
Scheer Rinker
Dr. Patrick Tegeder
Dr. Olaf Scheer
foreign sales has risen from 19% to 23%. For this reason, zeb/ considers
Sales
the ongoing development of these international markets to be of central
importance.
15%
Organisation and
Transformation
28%
The turnover gains have been achieved across the entire range of our consulting areas (see Fig. 1). We have once again succeeded in positioning
57%
ourselves as the partner for change across the entire range of financial
topics. We gained 57% of our turnover from subject areas covered by the
Finance and Risk
Finance and Risk competence unit, while 28% result from Organisation
and Transformation. 15% were generated with sales topics, with the turnover from IT, Strategy and Human Capital being attributed to the relevant
business-specific topics.
The vast majority of our customers have been with us for years. Thus, in
Turnover of IT, Strategy and Human Capital
competence units is broken down to business-specific topics.
Fig. 1: Distribution of fees
earned in 2011
New customers
5%
the past year, we earned 95% of our turnover from customers who had already worked with us in previous years. 5% of last year’s turnover comes
from customers who chose our services for the first time (see Fig. 2).
These figures are extremely pleasing and also provide us with an incentive
95%
to continue to earn this customer loyalty through first-class performance,
thereby establishing a long-term cooperation based on mutual respect.
Regular customers
Our employees
zeb/ sees itself as a “home for talents”, offering room for creative development and entrepreneurship to graduates and young professionals as well
as experienced professionals. Our people make zeb/ what it is. Our pos-
Fig. 2: Client structure 2011
(% of fees earned)
Financial
mathematicians
Physicists
2%
Business
economists
Other
4%
Economists
5%
5%
Mathematicians
itive development has only been possible thanks to our staff. Last
year, we have recruited 131 new staff members, increasing our total workforce to more than 750 employees. As in previous years, the majority of
our staff holds degrees in business administration and economics (60%),
while the share of IT specialists, mathematicians and physicists represented 35% of our workforce (see Fig. 3).
An outstanding academic education, however, is only one of the prerequisites for a good consultant. For this reason, with the exception of the staff
with scientific backgrounds, we usually only employ people with professional experience in banks and savings banks or who have gained
other specific consulting experience in addition to their qualifications.
This enables them to develop the required solution-oriented mindset and
to suggest quick and practical solutions. However, the consultant’s
personality is the critical factor for successfully transferring a convincing
plan into a sustainable increase in value. Compared to other consulting
firms, zeb/’s employee turnover rate remains very low. This is, in part,
owed to our efforts in ensuring a healthy work-life balance for our
employees. Furthermore, we do not apply an “up or out” principle.
| 18 |
7%
55%
9%
IT specialists
13%
Business
informatics
specialists
Fig. 3: Consultant profile
Outlook
In 2012, our main task will be to continue the strategic direction and to
ensure a consistent level of innovation as well as a continuously high
project quality. Since we are confident that we will continue to grow in the
increasingly competitive consulting market, we expect a significant turnover increase of 10% for 2012. So again this year, we strive for an increase of market share. And we are focusing on increasing our number
of FTEs: We plan to expand our workforce by hiring approximately 150
new employees and at the same time reduce the employee turnover rate.
In 2012, our main efforts will again concentrate on securing and expanding our current market position in the financial services industry. To provide further support for our growth plan, on 1 January 2012, we have
appointed Stephan Kruft, Christian Legény and Rainer Windler partners
and thus expanded our team of partners that now totals 50 colleagues.
We would like to thank you most sincerely for the confidence you have
placed in us and our work. We look forward to continue to support your
change processes with customised consulting solutions and to provide
inspiring results!
Dr. Andreas Rinker
Dr. Olaf Scheer
Dr. Patrick Tegeder
| 19 |
Natalie Schneider
To p i c s
24 Finance and Risk
41 Information Technology
50 Retail and Corporate Business
60 Organisation and Transformation
71 Strategy
74 Human Capital
| 23 |
| Finance and Risk
Bundesverband der Deutschen
Volksbanken und Raiffeisenbanken |
Conceptual design and prototype implementation of Basel III liquidity framework
Background and project assignment
In December 2010, the Basel Committee on Banking Supervision published
clearly defined requirements for strengthening the banking sector’s resilience to tight liquidity positions. These include in particular the introduction of the Liquidity Coverage Ratio (LCR) as a short-term liquidity key
figure and the Net Stable Funding Ratio (NSFR) as a long-term liquidity key
figure. Following a period of observation by the supervisory body, the institutions will need to comply with these ratios by 2015 respectively
2018. In combination with the new capital requirements, these modifications represent the major enhancement of the Basel II framework and
thus the core aspect of the global financial reform agenda.
Against this background, the Bundesverband der Deutschen Volksbanken
und Raiffeisenbanken (BVR, Federal Association of German Cooperative
Banks) decided to cooperate with zeb/ in order to enable its data centres
to provide the credit cooperatives with processed data for the quantification of the new liquidity standards.
With 1,138 local credit cooperatives, two central banks, associated companies and specialised institutions, and over 30 million customers and a
consolidated balance sheet total of more than EUR 1,000 billion, the BVR
is one of the largest finance groups in Germany.
Project content and approach
The project was handled and developed on the basis of the new Basel
framework in two parallel and complementary modules (see Fig. 1):
/ Module 1: Creation of a functional concept on the new liquidity standard
aiming at the functional processing of single positions to be included
and the description of the LCR and NSFR calculation logic
/ Module 2: Conceptual design of a calculation and simulation tool
(Excel-based prototype) including single position recording and a related
calculation logic, as well as a graphical display of important partial results and the calculated liquidity key figures
| 24 |
| Finance and Risk
Basel III: International framework for liquidity risk measurement, standards and monitoring
Functional concept
zeb rolfes.schierenbeck.associates
Calculation and simulation tool
Apply volumes and
factors of standard
scenario (BCBS)
Apply volumes and
factors of freely
definable scenario
200%
400%
0%
Functional concept
1.200
1.083
1.083
951
1.000
Eligible volume in
EUR million
Introduction of Global
Minimum Liquidity Standards
LCR:
114%
127%
300%
100%
850
800
600
400
200
High-quality
liquid assets
Net liquidity outflows
BCBS factors
Freely definable factors
Fig. 1: Main project modules
The functional concept creation included the explanation of the introductory and temporary regulations specified by the Basel Committee as well
as an itemisation of the single calculation formulas and the assumed
stress scenarios. Another key aspect was the exact description of all input parameters including the related weighting factors for LCR and NSFR.
In addition, several items were addressed that needed to be specified
according to the applicable regulation or that still were not explicitly
defined by the Basel Committee according to the new framework status.
To display different scenarios in the simulation tool, a parallel calculation
of two parameterisations was implemented. Thus it is possible to quantify
the implications of weighting factors that have not yet been finalised and
the effects of various volumes on liquidity key figures. On this basis, an
informative reporting to identify risk drivers was set up. Therefore, the
simulation tool can be used as a basis for dealing with strategic issues
in connection with LCR and NSFR implications on the business policy as
well as for practical calculation options as part of the Basel III monitoring
process.
The results were presented in a workshop, and implications on the implementation of the new liquidity regulation for the BVR member institutions were discussed, in particular asset-liabilities management aspects
and further financial management implications.
| 25 |
Sabine Becker
Frank Maurer
Dr. Jana Gersch
Thomas Koch
| Finance and Risk
Project results
With the description of all relevant input parameters and the display of
weighting factors and calculation logics, the project significantly contributed to a transparent representation of the new liquidity provisions.
Furthermore, the simulation tool and results discussion derived critical
issues of the new liquidity regulation, levers for cooperative institutions
Dr. Ruben J. Lanzerath
Dr. Constantin Terton
Head of Business Economics
Desk Officer for Business Economics
Volksbanken und Raiffeisenbanken
Volksbanken und Raiffeisenbanken
Christian Schiele
Partner
Senior Manager
zeb/
zeb/
For further information visit www.zeb.eu
and needs for action for a potential advanced IT implementation.
| 27 |
| Finance and Risk
Raiffeisen Bank International AG |
Setup of integrated financial management
architecture
Raiffeisen Bank International AG (RBI) is one of the leading commercial
and investment banks in Austria/CEE. Around 13.7 million customers are
supported by approximately 60,000 employees in roughly 2,900 branch
offices, a majority of which are located in CEE. In order to continue to
meet the requirements of the banking group regarding the consistent,
high-quality and sustainable financial management, RBI initiated a programme for setting up an integrated management architecture with a central data warehouse (DWH). Thanks to harmonised methods and a consistent data basis, the DWH creates a single point of truth for the four
financial management areas Risk, Accounting, Controlling and Regulatory
(see Fig. 1).
New regulatory
reporting
DWH
Customer &
product
profitability
Economic
capital/VaR
Risk
Basel III
Regulatory
Basel II
Post
calculation
& MIS
Accounting Controlling
Source
systems
Fig. 1: Integrated financial management architecture with DWH and
applications as part of the first development step
This will minimise coordination efforts, and network banks benefit from a
reduced and harmonised data supply among the different financial management areas. A Group Customer and Product Profitability (GCPP) reporting will be implemented as one of the first core applications. Due to
the flexible architecture, new requirements of additional financial management areas can be integrated into the new platform quickly and on a
modular and incremental basis.
| 28 |
| Finance and Risk
Project approach
The overall project was split into several projects that have been supported
by zeb/ since the beginning of 2011 (see Fig. 2).
Steering committee
Business architect
Programme
management
Programme
management office
Technical architect
Business data model & DWH governance
Sourcing
Group customer &
product profitability
DWH
Post calculation &
MIS
Testing
Service management & operations
Fig. 2: Programme organisation as of December 2011
Right from the start, zeb/’s support mainly focused on the functional and
conceptual modelling of the business data model (BDM) on an atomic
and – with regard to the individual financial management areas – harmonised level. Firstly, this included restricting the scope to the relevant
requirements and grouping it into functionally aligned work packages.
The work packages were supported by a small core team and varying experts in overlapping time frames. Various requirements for one specific
functional section were integrated, harmonised and modelled on a minimum granular basis in each work package. The functional sections are
interrelated and thus create an overall picture that maps the current and
to a certain extent future requirements of RBI.
The functional acceptance of the work packages was carried out by
representatives of the individual financial management areas. The BDM
was the basis for the logical and physical data model, the sourcing from
existing source systems and the connection to the respective application.
zeb/ assisted in adapting and modelling the logical data model within the
DWH project.
zeb/ has assumed the project management function for the Group
Customer and Product Profitability project and provides consulting services
for functional issues. The project aims at creating an integrated view on
group-wide customer and product profitability for the non-retail business
(from local account manager to RBI group management board) that enables the recipients to analyse financial management information along
the defined evaluation dimensions and to drill down on single transaction
levels. Furthermore, the GCPP project also covers the setup of an incentive system for account and product managers with regard to strategic
target achievement.
| 29 |
| Finance and Risk
As part of the testing project, zeb/ supports the test management and
test design in view of the system and system integration test of DWH core
functions and interfaces to source and application systems.
Project results and outlook (as of December 2011)
With the functional data requirements harmonisation for the Risk,
Accounting, Controlling and Regulatory areas, the project achieved a major
milestone in the ongoing programme. The GCPP project currently deals
with the planning of the extension for RBI’s leasing and investment
banking business as well as the incentive system extension. The go-live
is scheduled for mid-2012.
In future, the built integrated financial management architecture will be
enhanced by additional applications from the Risk, Accounting,
Controlling and Regulatory areas. RBI already feels well prepared for the
new advertised requirements such as Basel III, reporting and IFRS 9 and
is able to leverage synergies from the flexible and integrated manage-
ment architecture.
| 30 |
Mag. Georg Feldscher
Mag. Robert Fritz
Mag. Dr. Hannes Mösenbacher
Head of Planning & Finance
Head of Group & Austrian IT
Head of Risk Controlling
Raiffeisen Bank International AG
Markus Lochner
Werner Konezny
Enterprise Datawarehouse
Partner
Managing Partner
Programme Manager
zeb/
zeb/austria
Mathias Immerz
Stefan Steinhoff
Manager
Manager
zeb/
zeb/
| Finance and Risk
Erste Group |
Enhancement of group limit management
and exposure reporting
Background and project objectives
With more than 50,000 employees and a balance sheet total of
EUR 214.2 billion in 2010, Erste Group is among the three leading
financial institutions in Austria and in parts of Eastern Europe, supporting around 17 million customers in Central and Eastern Europe. Founded
in 1819 as “Erste österreichische Spar-Casse” (First Austrian Savings
Bank), Erste Group’s strategic alignment still focuses on deposit-taking
and loan business, especially in the retail and SME business.
A group-wide credit risk management by means of a group-wide limit
management system represents a major challenge for an international
banking group with subsidiaries in numerous countries. Erste Group
Bank AG therefore opted for a project in cooperation with zeb/ to systematically analyse and enhance the existing group-wide limit management
and exposure reporting with regard to practical optimisation potentials.
Customer data
Deal data
Limit information
Austria
Hungary
Czech
Republic
Ukraine
Group limit management system
Slovakia
Romania
Croatia
Serbia
Fig. 1: High-level objective for limit management system enhancement
Special attention was paid to the three core topics customer data, exposure data and integration of the limit management system into the
group-wide credit processes (see Fig. 1). Consequently, Erste Group
Bank AG aimed at establishing a fully automated system to identify and
manage group-wide customer liabilities and limits in several implementation steps. All customers or customer groups with an exposure exceeding EUR 1 million were considered as relevant for the enhancement of
Erste Group Bank AG’s limit management system. This also required the
compliance with Austrian regulatory requirements such as the grouping
of related customers.
| 31 |
| Finance and Risk
The “Enhancement of Group Limit Management and Exposure Reporting
(LIME)” project was divided into three project modules:
1. Status quo analysis
Using a comprehensive questionnaire, the group-wide status quo analysis examined optimisation potentials in the three core areas customer
data, exposure and limit administration. On this basis, the project members defined enhancement approaches and set up work packages.
2. Functional, technical and process-based conceptual design
The second stage involved the conceptual design of solution approaches
(see Fig. 2). In addition to enhancing the group-wide standards for customer data, groups of affiliated customers and the exposure definition,
a new organisational framework was developed for a central responsibility for customer data. Furthermore, a new limit monitoring process
was set up and complemented by the definition of alternatives for implementing IT adaptations or a central IT solution for customer data.
Group limit management system
Methods &
instruments
Organisation &
processes
Data & IT
Limit function
Exposure definitions
Parameterisation
Allocation
Reporting
Fig. 2: Conceptual design objective
3. Quick fixes implementation
By drawing on so-called quick fixes, a mostly manual solution for quickly
leveraging optimisation potentials in Erste Group Bank AG’s limit management system was pursued until the end of 2011. The subsidiaries
were trained in the new group standards for customer data, groups of
affiliated customers and processes. Afterwards, the working guidelines
were finally rolled out to the subsidiaries which were asked to adapt
their relevant customers in the local customer data system. Subsidiaries
without automated interfaces to the group-wide limit management
system were also asked to manually edit or enter their customer and
business data in the limit management system.
| 32 |
Historisation
| Finance and Risk
Together with zeb/, Erste Group Bank AG worked out the results in quality, time and budget. The project presented a particular challenge since
it had to integrate all subsidiaries and consider the individual local requirements.
Project results and outlook
The implementation of the quick fixes by the end of 2011 considerably
improved the data quality within Erste Group Bank AG’s limit management system. Moreover, group-wide standards for customer data and
groups of affiliated customers were enhanced and locally implemented.
A comprehensive process analysis identified additional optimisation
potentials in some subsidiaries that are now implemented on a gradual
basis. The quick fixes implementation has increased the number of
benefits offered by the limit management system and thus improved the
group-wide operational credit risk management.
The new solution is incrementally transferred to a technically integrated
target solution until 2013.
Mag. Hannes Frotzbacher
Dr. Thomas Roediger-Schluga
Deputy Head of Corporate
Head of Credit Support
Risk Management
Erste Group Bank AG
Ing. Mag. Günther Krähan
Mag. Wolfram Lang
Head of Org Steering
Org/IT Project Manager
Erste Group Bank AG
Erste Group Bank AG
Dr. Michaela Schneider
Simon Grimm
Managing Partner
Partner
zeb/austria
zeb/
Erste Group Bank AG
| 33 |
| Finance and Risk
Volksbank Romania S.A. |
Loan restructuring and workout optimisation
The financial crisis hit the Eastern European countries with different intensities. In 2009 and 2010, Romania – being one of the countries that
were greatly affected – slipped into a downturn. The implications on the
job market, the savings measures initiated by the government (e.g. 25%
pay cut in the public sector) and the devaluation of the Romanian leu
considerably aggravated the position of numerous borrowers.
This situation led to Volksbank Romania S.A. deciding to rethink and
reorganise their structures in the Restructuring and Workout area. zeb/
was assigned with the redesign and implementation support.
Important project targets included:
/ Process optimisation in loan restructuring
/ Process optimisation in Early Collections division (call centre) and implementation of a comprehensive performance monitoring for this area
/ Adaptation of corresponding IT systems
/ Development of an early warning system for loans
/ Sustainable reduction of non-performing loans (NPL) portfolio
In accordance with the project targets, the project was split into three
major steps:
The first project step involved a detailed analysis of the loan portfolio
and the identification of starting points for its adjustment. At the same
time, the existing processes of the Early Collections, Restructuring and
Liquidation areas were recorded.
As part of the second stage, zeb/ came up with the conceptual design
for the processing of restructuring cases in close cooperation with the
bank. This mainly focused on improving efficiency, reducing lead times
and accelerating the decision-making process in restructuring cases.
These measures led to a significant drop in loans exceeding the 90-dayspast-due threshold within the observation period and thus to a tangible
reduction in loan loss provisions. The adjustment not only focused on
the restructuring process, but also on the procedures in the Early Collections division.
| 34 |
Stefan Steinhoff
Rasa Zurumskas
Mathias Immerz
Dr. André van den Boom
| Finance and Risk
Simultaneously, homogeneous sub-portfolios were created and processed
by means of targeted campaigns. As many claims as possible were
examined again in order to quickly decide on possible second chances
for customers (restructuring, etc.) or, in “unpromising” cases, on the
liquidation (execution or sale) of loans.
The third project stage concentrated on the practical implementation of
the conceptual design. Following the introduction of new processes and
restructuring strategies as well as the go-live of new IT applications, a
series of training events were performed for employees from the
Restructuring, Market and Risk Management divisions.
As a result, the number of loans overdue at project start was reduced
by approximately 20% within eight months thanks to the initiated
measures and the sale of a sub-portfolio with uncollectible receivables
(see Fig. 1).
Reduction of NPL portfolio
Development since project start
100%
Reduced
by 20%
NPL portfolio at
project start
Optimisation of
Early Collections/
Restructuring
Campaigns
Fig. 1: NPL portfolio development
Since the introduction of the new processes, a considerably larger number of loans is resolved at an earlier stage, thus reducing the additionally required loan loss provisions.
Outlook
The reorganisation of the non-performing loan management – on the one
hand the optimisation of processes and on the other hand the portfolio
clean-up – is an essential innovation for Volksbank Romania. Core
benefits include reduced loan loss provisions and improved loan portfolio transparency. This leaves more time to deal with other topics
more intensely (relaunch of retail sales, etc.).
| 36 |
Sales
| Finance and Risk
Stabilising the achieved results also requires a consistent further development of the tools and processes to ensure their adjustment to changing
Johann Lurf
Andreas Burkhardt
CEO
Advisor
Volksbank Romania S.A.
Volksbank Romania S.A.
Simon Grimm
Helge Böschenbröker
Partner
Senior Manager
zeb/
zeb/
economic and maybe also legal frameworks.
| 37 |
Dr. Mark Wipprich
| Finance and Risk
Volkswagen Financial Services AG |
Worldwide rollout of funds transfer
pricing system
With a balance sheet total of roughly EUR 65 billion in 2010 and nearly
6,800 employees worldwide, Volkswagen Financial Services AG (VW FS
AG) is one of the biggest financial services companies in the automotive
industry. Approximately 2,500 employees are located outside Germany.
The financial market crisis – particularly characterised by a liquidity shortage – led to a substantial and sustainable increase of liquidity costs
(spreads) that presented VW FS AG with various challenges in terms of
liquidity aspects. In view of the foreign subsidiaries, the already implemented controlling concept was enhanced with the integration of liquidity
costs. To ensure their group-wide and consistent application, VW FS AG,
together with zeb/, implemented the liquidity aspect in the business
operations of all foreign subsidiaries. The implementation achieved the
following targets:
/ Accurate pricing of liquidity costs
/ Feasibility of calculated liquidity costs by Treasury
/ Improved comparability of product profitability
/ Division of maturity transformation profit sources into interest rate and
liquidity transformation
Project approach
At first, in the design stage, a major methodical foundation was laid,
also focusing on the following activities:
/ Creation of a methodical conceptual design
/ Development of a software tool for funds transfer pricing
/ Selection of pilot markets for testing purposes
/ Preparation of training documents
This was followed by the rollout preparation for the individual foreign subsidiaries. In this stage, putting together the two project teams was of
considerable importance. They consisted of members of VW Financial
Services AG's Controlling and Treasury divisions and one zeb/ consultant per team. The first rollout step dealt with implementing the advanced
controlling concept in the pilot markets. This included the following on-site
activities:
/ Determining the status quo of the content-based, process-based and
organisational design and of the IT implementation (data availability
and IT systems)
| 39 |
| Finance and Risk
/ Gap analysis and inference of need for action
/ Preparation of required decisions on the implementation of the advanced
controlling concept with regard to
/ Adaptation of local IT solutions
/ Application of zeb/ software tools
/ Requirements or list of criteria for parameterising non-interestbearing positions
/ Training of all employees relevant for setting up the necessary specialist know-how in the foreign subsidiaries
After having realised the improvement potential identified during the pilot
stage, the project addressed the implementation of the advanced controlling concept in the remaining 18 foreign subsidiaries of VW FS AG.
The advanced controlling concept was consistently implemented in the
foreign subsidiaries in compliance with the defined objective and the
technical and process-related requirements. The medium-term planning
is carried out for the entire VW FS AG group using the advanced controlling concept. Thus it is possible to make the right pricing/product
decisions while considering local liquidity costs and to centrally allocate
liquidity to the individual business units according to optimum cost-use
relationships.
| 40 |
Frank Fiedler
Dr. Olaf Scheer
Chief Financial Officer
Managing Partner
Volkswagen Financial Services AG
zeb/
Volker Reichhardt
Dr. Klaus Strenge
Head of Controlling International
Partner
zeb/
Hendrik Eggers
Dr. Mark Wipprich
Project Manager
Manager
zeb/
| Information Technology
Avaloq Evolution AG |
MIS add-on module for Avaloq Banking
System based on zeb//control
For more than 25 years, the Avaloq group has been supplying comprehensive, integrated banking software solutions to banks. The solutions
delivered by Avaloq cover a wide range of fully integrated back, middle
and front office functionalities and are operated at the most demanding
financial centres in the world. At present, leading retail, private and universal banks in over 20 countries throughout the world trust Avaloq as a
competent innovation partner and expert adviser. The Avaloq Community
forms a strong network of excellence consisting of clients, partners and
universities that together help to shape the banking technology of the future. The Avaloq group employs more than 1,200 highly qualified banking
and IT specialists. The Zurich-based company maintains two development centres in Switzerland and the UK. Avaloq has further offices in
Switzerland as well as at strategically important financial centres including London, Paris, Luxembourg, Frankfurt, Munich, Vienna, Singapore and
Hong Kong.
The zeb//control product family provides the basis for effective and efficient business management. It covers the requirements for banking controlling and offers flexible information for planning and analysis tools:
corporate controlling, top management perspective, analyses and planning at the customer and account level.
Thanks to its modern, modular system architecture, zeb//control smoothly
blends into existing IT environments. The freely scalable system architecture can be adjusted to the size of the enterprise and dynamically
expanded if required. The application is accessed via a modern web
interface that ensures a wide utilisation in different business areas.
International requirements, such as multilingual user interfaces and
multi-currency support, are met.
The project goal was to provide a state-of-the-art management information system (MIS) with a standardised interface implementation in ABS,
to allow an easy integration for all banks running ABS.
| 41 |
With the start in January 2011, the project paid particular attention to
the seamless integration between the two systems.
The bank controlling software expands Avaloq Banking System (ABS)
with an integrated and comprehensive reporting functionality. The reports
for the modules are specifically designed and realised to deliver analysis
instruments with a quick and easy access to the relevant aggregated
data. They are created to visualise common key performance indicators
(e.g. assets under management, net new money, standard costs) as
well as profitability analyses with contribution margins based on the
interests, type of commissions, retrocession, etc., thus ensuring consistency and transparency on all levels. The ABS client has direct access
to the reporting module allowing drilldowns to customer and account information. Furthermore, the new reports use all zeb//control features
such as drilldown, subject analysis, etc.
The end user is able to navigate the system without noticing any differences between the environments: authentication, call for reports and
their parameterisation run in the background without any user intervention. The full integration in Avaloq Smart Client ensures a single point of
truth for the end user.
The standard interface extracts the data from ABS and provides the information to the MIS DWH system. Then, the data is enriched with configurable calculations (i.e. contribution margins) and additional inputs
(costs, planning data) and presented by the reporting module. During
the implementation, the functional data requirements were analysed
and defined. The project team, in particular, focused on implementing a
data extraction and transformation function, defining a standard ETL
process sufficiently flexible to allow for different customisation levels of
ABS. In fact, each bank modifies and parameterises ABS with their own
customisation covering their specific needs. The integration can be defined with a high flexibility to merge the different information structures
that are present in the systems.
The MIS add-on module consists of three different packages for a complete coverage of the various MIS bank requirements: the Profit Package
(MIS for sales controlling), the Compass Package (cockpit with aggregated figures from all group entities) and the Extended Package (individual
MIS enhancements such as cost allocation, additional interfaces).
The MIS module is officially available with Avaloq’s latest releases.
| 42 |
Outlook
In May 2011, the MIS module was presented to the Avaloq customers
at the Avaloq Symposium – generating considerable interest. The first
client implementations started in Q1/2012.
Jürgen Hofner
Chief Technology Officer (CTO)
Managing Partner
Avaloq Evolution AG
zeb/information.technology
Dominique Emery
Dr. Markus Wilpert
Product Manager
Partner
Avaloq Evolution AG
zeb/
Oliver Kuster
Dr. Massimiliano Cecconi
Project Manager
Manager
Avaloq Evolution AG
zeb/
Klaus Rausch
| 43 |
Lars Aupers
Marco Ulrich
Dr. Philipp Faber
Beate Döker
ESPRIT Netzwerk AG |
Introduction of zeb//control in bank network
Background and project content
The Swiss “ESPRIT Netzwerk” is an association of 19 independent
banks and bank-like institutions. Since 2006, ESPRIT Netzwerk AG is
responsible for the central IT coordination and maintenance and for
executing projects for these institutions.
The ESPRIT banks aim at introducing an optimum and sustainable management information system (MIS) tailored to their individual needs and
with an identical setup for all ESPRIT banks participating in the project.
The currently used intra-bank system solutions for tools and manual processing options for displaying, planning and analysing managementrelevant key performance indicators (KPI) need to be replaced by a central
and user-friendly MIS. The top management and executives are supported by a central management cockpit and detailed information on sales
management level.
The zeb//control product portfolio meets all requirements of the ESPRIT
banks with regard to a management information system. The following
modules of the zeb//control product portfolio are used (see Fig. 1):
/ Top management reporting with zeb//control compass
/ Profit management with zeb//control profit
/ Single transfer pricing with zeb//control calculation
zeb//control profit
zeb//control data marts (per bank)
ESPRIT target data model
zeb/ target data model
zeb//control calculation
single transfer pricing
ESPRIT data warehouse
zeb//control data management
zeb//control compass
Core banking (Finnova)
Fig. 1: Architectural sketch of zeb//control implementation
| 45 |
Project approach and results
At the end of 2010, the overall implementation project was preceded by
a proof-of-concept stage in which the required functional coverage for
the ESPRIT banks’ requirements and the interface connection to the
Finnova core banking system were verified. This proof of concept was
completed to the utmost satisfaction of the ESPRIT banks.
The overall implementation project started in the second quarter of
2011 with a two-month conceptual design stage. In cooperation with
representatives of the ESPRIT banks and ESPRIT Netzwerk AG, zeb/
conducted workshops to specify the requirements in order to identify
the individual evaluation scope with zeb//control adjusted in compliance with the customers and the given demand.
The conceptual design results were then used for the implementation
stage that included the parallel implementation of the zeb// control
compass and zeb//control profit applications for two pilot banks and
their integration into ESPRIT Netzwerk’s system landscape. Furthermore, the implementation also covered data connection, processing and
provision in application-based data marts of zeb//control. Using the calculation framework zeb//control calculation, a central single transfer
pricing was implemented for all ESPRIT banks (see Fig. 1).
The go-live is prepared by means of a project-specific division of the
testing stage for zeb//control compass (Q1 2012) and zeb//control
profit (Q2 2012) and will be concluded by a successful acceptance of
zeb//control by the pilot banks and a final presentation.
Outlook
zeb//control will be gradually rolled out to the ESPRIT banks by mid-2012.
In addition to activating the data processing function for each bank and
the users, this stage also focuses on adequate user trainings for
ESPRIT Netzwerk and individual trainings for the departments.
Thanks to the management information system via zeb//control, ESPRIT
banks benefit from structured and reproducible KPIs relevant for financial management and decisions that are flexibly available on all levels
of the bank.
| 46 |
Possible extensions for ESPRIT banks’ zeb//control application landscape have already been designed with the pilot banks. The implementation of balanced scorecards and benchmark evaluations among
Markus Boss
Thomas Zbinden
CEO
Manager Special Tasks
Regiobank Solothurn AG
ESPRIT Netzwerk AG
Dr. Markus Wilpert
Lars Aupers
Partner
Senior Consultant
zeb/
zeb/
ESPRIT banks are regarded as possible initial implementation steps.
| 47 |
Christoph Balke
| Retail and Corporate Business
Postbank Finanzberatung AG |
From efficiency improvement to the
“2016 Build the Future” growth programme
Postbank Finanzberatung AG – the mobile sales division of Postbank with
approximately 3,700 full-time advisors – is one of the largest mobile
financial sales organisations in Germany measured by number of advisors
and commission income. With its focus on the building society and building
finance business, Postbank Finanzberatung AG is one of the most significant profit and value contributors in the Postbank group.
Since 2009, zeb/ supports Postbank Finanzberatung AG along their
development path that is directed towards cutting costs and increasing
earnings (see Fig. 1).
1 “Weatherproof”
3 “Increase strengths”
2 “Shape profile”
2010/
2011
2009/
2010
/ Top management
realignment and sales
reorganisation
/ Enhanced orientation
towards customer needs
/ Product range focusing
“Sales structure
optimisation” programme
/ Improvement of
support function
efficiency
2011/
2012
/ Optimisation of
recruitment, introductory
training and retention Implementation
state
/ Improvement of
site efficiency
/ Sales process focusing
based on service promise
in view of productivity Implementation
state
and quality
/ Clear positioning
based on core
strengths
/ Optimisation of
Implementa
tion
remuneration system
state
and sales management
“Efficiency improvement
for cross-sectional functions”
programme
“2016 Build the Future”
growth programme
Fig. 1: Turnaround stages of Postbank Finanzberatung
| 50 |
In a first step (2009/2010), zeb/ streamlined and optimised the sales
structure in view of market coverage. In a second step (2010/2011),
the project dealt with maximising cost efficiency (by means of streamlining, centralisation and automation) and improving the sales support
quality. Thanks to these measures, Postbank Finanzberatung was able to
realise a successful turnaround in the past two years. With the implementation of the efficiency improvement programme for cross-sectional
functions of financial consulting, Postbank Finanzberatung and zeb/
worked on the conceptual design for the “2016 Build the Future”
(Zukunft bauen 2016) growth programme in order to lay the foundation
for sustainable company growth upon successful restructuring and efficiency improvement.
Project objective
“2016 Build the Future” aims at a significant and sustainable improvement of the new business volume and gross commissions until 2016
on the basis of a strategic realignment. The management team defined
the following targets as central strategic levers:
/ Expansion of sales network (number of HGB partners)
/ Increase of productivity (number of deals per advisor)
/ Increase of net commission income per deal
The growth levers were designed in five sub-projects in cooperation with
zeb/. The following success modules were developed to implement the
growth levers:
/ Specification of strategic financial advisory cornerstones
/ Recruiting, retention and training concepts
/ Sales process for HGB partners in line with the core strengths
/ Incentive and management system for HGB partners
| 51 |
USP and Vision
cornerstones
Growth model
design
Implementation
plan
Implementation
Activity
Service
promise
PB FinB
Activity
Incentive/
management
system
Activity
Sales footprint
Strengths
Productivity
Opportunities
Time
Weaknesses
Threats
Net commission income
per deal
USP and Vision cornerstones
Growth model
as of 4/2011
by end of 10/2011
Number of meetings/
deals
Revenue
Investment
Recruitment/introductory
training
Time
by 12/2011
as of 2012
Fig. 2: “2016 Build the Future” project approach
Outlook
The “2016 Build the Future” growth programme is designed to lead the
financial advisory services to the 2016 level of ambition by means of
different growth steps. The sales executives were closely integrated in
the successfully completed conceptual design stage. The implementation
planning has already been developed for the next project stage. 2012
will be characterised by a sensitisation and mobilisation of Postbank
Finanzberatung’s entire sales area. Since the beginning of this year,
Postbank Finanzberatung has already made full use of these measures
and has thus laid another foundation for the 2016 growth strategy.
Hanno Schädel
Chairman of the Board
Head of Sales Management
Postbank Finanzberatung AG
Reinhard Haas
Frank Pöppinghaus
Vice President Sales North & East
Vice President Sales South & West
Dr. André Ehlerding
Daniela Schmitz
Partner
Senior Manager
zeb/
zeb/
Ilmhart-Wolfram Kühn
Manager
zeb/
| 52 |
Bernd Diestelhorst
Daniela Schmitz
Alfa-Bank Ukraine |
Re-design of credit process for
corporate clients
Alfa-Bank Ukraine is a leading financial services provider in the Ukrainian
market and part of the largest private Russian financial/banking group.
With assets of approx. EUR 2.7 billion as of end-2011, Alfa-Bank Ukraine
is a strong player in both retail and corporate segments.
After the pre-crisis years of dynamic market growth and the 2008-2009
financial downturn of the Ukrainian economy, banks face even more
challenges and increasing competition, especially in the corporate
business segment.
Alfa-Bank Ukraine recognised the need to review and improve its end-toend lending process for corporate clients. Being already a partner to the
bank, zeb/ was asked to re-design the credit approval process for corporate clients, providing transparent procedures with faster decision making.
In order to meet the defined objectives, the project was structured into
the following four stages:
/ As-is analysis to provide an overview of the current credit approval
process
/ Workshops with the top management to present diagnostics results
and to define the priorities for the next stage
/ Re-design stage to describe the to-be process considering defined
priorities and constraints
/ Implementation roadmap to provide the implementation approach and
the time schedule for the change
In the initial stage, zeb/ documented the existing end-to-end credit approval process in several dimensions to get a comprehensive understanding
of the current situation. Special focus was placed on the duration of the
process steps, as quantitative data and mechanisms for monitoring and
controlling a single application’s processing time were not available.
| 54 |
During interviews and workshops with more than ten departments engaged in the process, first improvement potentials were defined.
As-is assessment results were presented to the Management Board to
ensure a “buy-in” for the target design, considering existing issues and
constraints, as well as to foster decision making with regard to the priorities for the further implementation.
During the re-design stage, the project team created an end-to-end process blueprint with detailed description of roles, responsibilities, tools
and interfaces including the suggested changes to the existing process.
The following set of recommendations was presented:
/ New process steps: The joint project team recommended the introduction of a pre-assessment of the clients’ credibility based on a
few financial and non-financial data. This measure allows for a substantial reduction of the overall processing time and efforts spent on
the less promising clients’ application.
/ New (revised) documents: All existing lending-process-related documents (e.g. client questionnaires, list of required documents, different
check lists for the bank’s employees, standard client letters, etc.)
were reviewed, revised, harmonised or simplified.
/ New tools: Several new tools were introduced for facilitating the credit
approval process, aiming at increasing the efficiency of the departments
involved and/or reducing the credit risks, e.g. a matrix for a collateral
pre-evaluation for the front office.
/ New procedures: The team also recommended the implementation of
several new procedures to increase the operating process efficiency,
e.g. aligning a credit contract with a client before the credit committee.
/ New processes for selected products: Considering the bank-wide range
of loan products, zeb/ described product-specific processes in case the
respective product does not require the full scope of validation and
underwriting procedures (e.g. loans that are backed by collateral deposits). Our deliverables also included standardised document packages
for specific products and industries.
Finally, the necessity of a new IT application (workflow) was discussed.
New IT applications would enable an appropriate tracking of processing
time and effective end-to-end process management.
| 55 |
The project enabled Alfa-Bank Ukraine to improve its lending process for
corporate clients. The implementation of the project team’s recommendations will strengthen the bank’s market position as one of the leaders
in the Ukrainian corporate business segment.
| 56 |
Alexander Lukanov
Alexander Nefedov
President and Managing Director
Director
Alfa-Bank Ukraine
zeb/ukraine
DZ PRIVATBANK |
Private banking market initiative – strategy
confirmed by pilot tests
With a common subsidiary market presence operating under the “VRPrivateBanking” service brand, the Genossenschaftliche FinanzGruppe
(GFG, Cooperative Financial Group) aims at increasing its market share
in the affluent customer segment in Germany. DZ PRIVATBANK (DZPB)
supports this goal by cooperating with VR cooperative banks in order to
provide high-level cooperative private banking (PB) according to the specific
local background and objective. Being one of the “Preferred Consulting
Partners”, zeb/ contributed to the concept specification and the pilot
tests to prepare for the group-wide rollout of the Private Banking Market
Initiative (MIPB).
Background
With roughly 70,000 customers and assets under management of about
EUR 15 billion, DZPB has already become a successful player in the
HNWI business. Results of corresponding industry tests underline this
position (e.g. second place in the 2012 Fuchsbriefe all-time top ranking).
Cooperative banks use various business approaches for affluent customers. The scope ranges from institutions without specific advisory services
for PB customers to individual local credit cooperatives that promote
private banking as an independent business segment. However, in many
cases the major share of the private banking customers’ assets is held
by competitors, despite existing customer relationships, in particular
with SMEs. Generally, these customers do not consider local cooperatives to be relevant PB partners.
Especially in light of the financial and euro crises, this offers a historical
opportunity: Investors feel a stronger need for transparency, quality, continuously sustainable advice and low risk, and currently reconsider their
bank relationships. Therefore, the cooperative business model that focuses on stability and values such as cooperation, sustainability, solidarity and fairness becomes more and more attractive. However, for many
cooperative banks, building resources and the required service portfolio
for a holistic and high-quality private banking would not prove to be reasonable and efficient.
| 57 |
The “VR-PrivateBanking” service brand is designed to enable cooperative
banks in subsidiary cooperation with DZPB to offer private banking
services on par with global and private banks. Each institution can
individually define the level of integration of DZPB by way of a “slider”
method (see Fig. 1).
VR-Bank
Contribution
-
+
Functionally different forms of cooperation
+
-
Level of cooperation
DZ PRIVATBANK
Fig. 1: Subsidiary business model with slider system
In late 2010, DZPB started working on two primary ranges of subjects
in cooperation with zeb/ to prepare the group-wide rollout of the Private
Banking Market Initiative that is scheduled for 2012.
Firstly, the project team created the prerequisites for strengthening
DZPB’s role as a competence and production centre for the private banking business within GFG. This includes the further development of harmonised, PB-specific advisory and support processes tailored to the
needs of cooperative customers.
And secondly, the team created pilot tests to prepare for the future cooperation between the cooperative banks and DZPB. According to the
various general conditions, the selection of the zeb/ pilot institutions
with Kasseler Bank eG, VR-Bank Bad Hersfeld-Rotenburg eG and
Bremische Volksbank eG covered a large spectrum of VR-Bank market
positions. To ensure the comparability of procedures and results among
the pilot institutions, zeb/ was charged with the creation of a scope of
action and the coordination of the pilot projects.
| 58 |
Creating a blueprint for the German-wide MIPB rollout based on the pilot
test findings constituted the defined project result. This included core
design parameters for private banking in cooperative banks, mandatory
and practical guidance as well as customisation options according to
initial situation and level of cooperation. To organise the cooperation with
DZPB, six ranges of topics were identified:
0 Strategy
VR-Bank
design requirements
Target
customers
1
organisation/
2 Sales
workforce
Advisory concept/
3 IT/products
DZ PRIVATBANK
4 Communication
design requirements
planning/
5 Sales
management
Fig. 2: Organisation of cooperation along the individual ranges of topics
The pilot projects provided the following valuable hints for successfully
implementing MIPB in cooperative banks:
/ The high potential for cooperative banks was confirmed
/ The “slider” approach provides the required customisation options
/ A PB status check jointly developed with zeb/ serves as an essential
basis for the conceptual tasks
/ A professional moderation ensures efficient project work
/ PB know-how and an intuitive implementation of cooperative PB are
two key factors
In 2012, the major rollout of this promising approach is promoted to
convince a large number of cooperative banks of the opportunities prothe enormous private banking potential.
Richard Manger
Dr. Alexander Henk
Management Board
Partner
DZ PRIVATBANK
zeb/
vided by a systematic cooperation with a strong partner for leveraging
| 59 |
| Organisation and Transformation
Deutsche Bank AG |
Retail Target Platform investment processes –
New regulatory requirements in securities
advisory services
In the last few years, the requirements for banking advisory services have
increased considerably. A large number of legal requirements and the increased expectations of customers as a consequence of the financial
crisis affect all advisory services of banks. As a major source of income
and distinguishing feature, the securities business is particularly affected.
Last year, in addition to these market requirements, Deutsche Bank needed
to accomplish initial Postbank integration activities as well as a process
optimisation and product harmonisation as part of the switch to a new
core banking system. zeb/ supported Deutsche Bank in redesigning
their securities processes – along the whole value-added chain, ranging
from customer dialogue to settlement. The goal was to develop a Retail
Target Platform (RTP) that ensures quality, efficiency and sustainability to
meet the requirements of an integrated business model of Deutsche Bank
and Postbank.
The future objective for the investment platform was developed in joint
workshops. This included the structured derivation of future influencing
factors and general conditions based on today’s requirements. The current
regulatory topics constituted a major focus area. Future unpredictable
regulatory developments were taken into account as flexibility requirements. The possibility to realise new income potentials by means of the
platform was just as important for the project as the application of a
customer perspective.
Based on the defined requirements, the next step aimed at consistently
deriving the objective in a joint workshop (see Fig. 1).
| 60 |
PB
PeB
Investment platform
Distribution channel/
customer segment
Postbank
Online
Maxblue
…
Advisory and sales platform
Differentiation
Product platform
Standardisation
Transaction platform
Fig. 1: Investment platform objective
The objective was used to derive measures for incremental operationalisation and to transfer them into detailed implementation plans. The implementation was carried out by a specifically created Investments
Competence Centre (CoC). An independent project organisation was
established and implemented in cooperation with a Process Integration
Team (PIT) which covered the various stages from conceptual design up
to rollout in sales using a standardised process model. This competence
centre successfully designed and implemented regulatory requirements
as well as various developments of securities advisory processes of
Deutsche Bank (see Fig. 2).
Project
management
and corporate
support units
RTP Investments project management
Communication
Requirements
management
PIT
CoC Investments project management
GTO
Rollout
PMO
Qualification
Regulatory
Advisory processes
Topic owner
Core service area
Fig. 2: Investments Competence Centre
| 61 |
In 2011, three rollouts were successfully carried out on the basis of the
cross-divisional cooperation of Process Management and IT up to
Communication and Training Academy.
As a major innovation, the Chief Investment Officer’s market view was
integrated into the investment advisory process. The customer’s investment portfolio is compared with the currently recommended sample
portfolio of Deutsche Bank with regard to investment target and market
situation, followed by an automatic generation of investment proposals.
Single-case-induced depot structures are thus replaced by a diversified
asset allocation. The system-related integration of the CIO market view
into the investment advisory process ensures the consistently high advisory service quality of the bank, considers all regulatory requirements
and at the same time relieves employees so that they can totally concentrate on individual customer situations. The customers can therefore profit from high-quality advisory banking.
Outlook
In 2012, the Investments Competence Centre will continue the successful
activities started in 2011 and design as well as implement the upcoming
sales and regulation topics and move closer to the defined objective.
Andreas Wienhues
| 62 |
Carsten Rosendahl
Director
Director
Deutsche Bank AG
Deutsche Bank AG
Robert Symannek
Stefan Fenner
Senior Manager
Manager
zeb/
zeb/
Stefan Fenner
Hypo Alpe-Adria-Bank International AG |
Optimising organisation and governance
In 2011, the Hypo Alpe-Adria-Bank International AG (HAA) decided to
further develop its group-wide organisation and governance for its holding in Klagenfurt and its five local banks in the core markets Bosnia and
Herzegovina, Croatia, Montenegro, Serbia and Slovenia as part of the strategic realignment. The project in cooperation with zeb/ aimed at creating
homogenous regional organisations and at establishing a clearly defined
functional integration of the banks into the Klagenfurt holding, in particular following the need for an increased retail-oriented alignment of the
core business and the historically grown structures.
As a first step, the project team developed a blueprint (1st stage) for the
homogenisation of the country organisations. The clear distribution of
management board departments (CEO, CFO, CRO, CMO/COO) as well as
the functional structure of the holding’s first management level served
as a basis. Furthermore, zeb/ contributed with leading practice organisations with corresponding responsibility assignment as a guidance for the
blueprint design. The blueprint was successfully coordinated and specified
with the respective executives in several meetings until the holding’s management board level reached a common understanding and the overall
acceptance of a department’s responsibility assignment and governance.
The legal and management-based aspects of the governance were
examined as part of the governance design and definition. This included the
detailed description and coordination of roles, rights, responsibilities and of
the assignment of tasks to the categories bank management, monitoring/
controlling, operational management and execution. Special attention was
given to the Risk and Compliance divisions that – with regard to governance – additionally need to comply with all legal provisions. Due to HAA’s
focus on the retail-based core business, the market and operational divisions (CMO and COO) were also in the centre of attention.
| 64 |
C EO
C RO
CFO
C MO
C OO
Audit
Risk
Controlling
Accounting and
Reporting
Retail
Banking
Org/IT
Legal
Credit
Management
Financial
Controlling
Corporate and
Public Finance
Real Estate
Management
Compliance
Retail Risk
Management
Treasury and
Securitisation
Leasing
Procurement
Communications
Credit Rehab
Collection
HR
Task Force
Rehab
Operations
Credit
Processing
Project
Management
Fig. 1: Extract of blueprint framework (schematic diagram)
The second stage was initiated by the group management introducing
the blueprint to the management boards of the five core markets. The
blueprint was presented as a binding framework for the preparation of
the target organisations. The benefits of the aligned and harmonised
organisation and governance development were illustrated to and discussed with the local management boards of the subsidiaries. Following
these kick-off events, the regional management boards, a local core team
and the zeb/ market teams developed the respective target organisations (incl. assignment of responsibilities down to the second level).
Major differences of subsidiaries (e.g. size of bank, management board
line-ups) were considered in this step without exceeding the blueprint
framework. Specifics such as business portfolio, risk structure, personnel
structure or local legal conditions also needed to be included. In addition
to the creation of new local target organisations, this stage also involved
the identification of efficiency potentials by means of the newly defined
and more streamlined structures. All project results relevant for the subsidiaries were accepted by the central steering committee on holding
level as well as by the regional management boards or the supervisory
boards.
The third project stage dealt with the implementation plan development
and the detailed communication planning for the regional organisations.
In this stage, the major challenge was to identify all structural organisation and personnel modification requirements and to adequately
schedule their implementation thus enabling HAA to independently implement the organisational transformation without compromising the
operational business and the planned growth. The final document – a
comprehensive organisation manual – was created in cooperation with
HAA’s Organisation division.
| 65 |
Zuzanna Sielicka
Mathias Gans
Mariia Nykytiuk
Tobias Müller
Besides the organisation and governance design for HAA’s core business, an additional project stage was set up to develop blueprints for
the organisation and governance of the wind-down (non-core) business –
on holding level as well as for all HAA countries – followed by a gap
analysis and implementation planning.
Outlook
The detailed organisations are partly still being implemented in some
countries. Nevertheless, it can already be confirmed that with this major
organisational project, HAA has set the course for a positive future and
for becoming an integrated and powerful banking group characterised by
efficient communication, cooperation and decision-making processes as
Dr. Gottwald Kranebitter
Rainer Sichert
Astrid Gradischnig
Chief Executive Officer
Chief Operations and Market Officer
Head of Organisational Development
Hypo Alpe-Adria-Bank
International AG
International AG
International AG
Horst Kleinlein
Christian Legény
Partner
Managing Partner
zeb/
zeb/austria
well as transparent and lean structures.
| 67 |
BMW Financial Services |
PRO-FILE quality assurance
For many years now, BMW Financial Services is an essential part of the
success story that has made Munich-based car manufacturer BMW one
of the world’s leading premium carmakers. With a balance sheet total of
more than EUR 70 billion in 53 countries, BMW Financial Services’
financing and leasing services as well as its direct banking and insurance
products are core elements of BMW’s sales strategy.
In 2008, the global financial and economic crisis significantly affected
the global financial system and fundamentally changed the environment
for BMW Financial Services. To meet this challenge, BMW Financial
Services and zeb/ carried out the “New Captive” project in 2009 that
aimed at strengthening the resilience and efficiency of BMW Financial
Services and thus of the entire BMW Group.
The project results were presented to the Management Board in 2009,
followed by the adoption of respective measures. At the same time, the
decided measures and further strategic projects needed to be consolidated in the “PRO-FILE” programme – the largest project programme in
BMW Financial Services’ history. The projects include the introduction of
standardised process and IT platforms in Europe, the EU bank expansion,
a post-merger integration and further trend-setting strategic initiatives.
The programme objective is to synchronise the single projects in such a
way that all projects will achieve these aims in time, quality and budget.
To meet the increasing complexity of the projects, in 2010, zeb/ was assigned to support the programme as part of a quality assurance with the
following targets:
/ Ensure high quality and tight timelines of PRO-FILE projects
/ Avoid errors in project management as well as content-based/technical discrepancies or duplicate efforts
/ Ensure compliance with strategic development standards/solutions
/ Identify technical and functional synergy options and optimisation
potentials
| 68 |
At the start of the project, the zeb/ “5 + 5 + 2” toolbox was adapted to
,
PRO-FILE s programme requirements to ensure a systematic and linked
management.
Vertical quality
assurance
Horizontal quality
assurance
Monitoring and
programme management
1. Project assignment
6. Master plan
11. Steering
committee report
2. Result check
7. Rollout plan
12. Status report
3. Project radar
8. Resource plan
4. Operative
target system
9. Risk map
5. Issue/risk list
10. Issue map
Fig. 1: “5 + 5 + 2” toolbox
The application of management tools is divided into vertical and horizontal quality assurance (QA) and continuous monitoring (see Fig. 1).
The vertical quality assurance focuses on the as-is analysis and the
definition of potential content-related needs for action in the major projects.
This work package thus performs the “deep drive” into the projects. From
an overall programme perspective, this answered the central question
on the projects’ quality, time and budget status. The management of the
individual projects is still assigned with the relevant autonomy and
responsibility.
In contrast, the horizontal quality assurance focuses on drafting the necessary QA framework to synchronise the projects from an overall project
perspective.
In the course of the project, attention was given to the ongoing implementation or consistent application of the “5 + 5 + 2” toolbox, the continuous performance of the horizontal synchronisation of the projects
from a programme perspective (by means of a resilient master plan,
,
etc.) as well as the assurance of the result s quality from a business
and IT perspective and the interaction with the change process. zeb/
supported the entire quality assurance process and applied a high quality
standard, complemented by constructive and practice-tested proposals
for optimisation – on single project as well as on programme level.
| 69 |
Outlook
The PRO-FILE programme has integrated and combined a number of conflicting interests and has minimised numerous implementation risks.
Successfully established regular Quality Gateways ensure the quality
and synchronisation of the individual project plans (according to the master plan) including, in particular, the identification and management of
resource availability, complexity and functional and IT-specific dependencies. This ensures the continued successful realisation of this unique
BMW Financial Services programme in order to further expand the
achieved leading position in the automotive financing business.
| 70 |
Erich Ebner von Eschenbach
Michael Mohr
Group Head
Head of Program PRO-FILE
BMW Financial Services
BMW Financial Services
Dr. Olaf Scheer
Dr. Klaus Strenge
Managing Partner
Partner
zeb/
zeb/
| Strategy
Bundesverband deutscher Banken |
Strategic realignment
As the central organisation of private banks in Germany, the Bundesverband deutscher Banken e. V. (BdB, Association of German Banks) represents the interests of more than 210 member institutions in Germany
with regard to political, public and scientific matters. Its core task is to
channel and communicate the members’ common beliefs and positions
concerning all banking business issues and to provide various related
services. The banking association faces new challenges in light of the
advancing European integration, the increasing relevance of international
initiatives and opinion-making processes as part of the global regulatory
crisis management, the intensification of competition among the member
institutions and the consequential difficulties in building consensus.
Against this background, the association decided to put its structures
and procedures to the test and carried out a realignment project in cooperation with zeb/.
Project approach
The stakeholders’ requirements for the association were used as a starting
point for the project. These requirements were collected in targeted interviews with executives and employees of the banking association as well
as with management boards of member banks, politicians, supervisors
and the press. A holistic strengths/weaknesses profile was developed
taking into account the current challenges and used as a basis for formulating the realignment objective and deriving central fields of action.
Following a three-month project work, the Management Board adopted
the results and initiated the implementation.
Project results
The implementation project dealt with the further development of tools,
processes, structures and the culture of cooperation as follows:
“Increased subject focus”: The association work will be structured by
means of a topic agenda to define content-based focus areas and to
improve the focusing of available capacities. The processing of subject
areas is generally carried out with a clear focus on member benefit and
in project structures. The additional Issues Management planning tool
| 71 |
| Strategy
enables members and employees of the banking association to address
further subjects and to get status updates. Topic agenda and Issues
Management are intertwined and closely connected with communication
and lobby planning.
“Increased member orientation”: The committee structure was streamlined and more intensely aligned with the member banks’ business segments. In this context, the BdB created new committees for corporate
financing and investment banking and established communication forums
outside the committee structure framework that serve as subject-specific
exchange platforms. More harmonised, target-group-specific and understandable formats will be used to manage the communication between
members and banking association. A successfully piloted web-based
technology platform forms the basis for a new and sustainable communication. And together with its Bank-Verlag subsidiary, the BdB offers new
services that specifically support members in implementing new regulations. An additional member survey is scheduled for the first half of
2012 and lays the foundation for systematic dialogue and improvement
processes.
“Increased presence”: The publication formats were streamlined and
oriented towards target groups and aim at improving the communication’s
perception and at reducing costs. The implications of legal amendments
will be assessed with a more quantitative focus as far as possible.
Aggregated and anonymous data of the member institutions will be provided for this purpose.
“Increased efficiency”: Streamlining the organisational structure allows
for future subject-related focus areas and their weighting. Moreover, the
BdB was able to achieve a considerable reduction of material costs by
optimising purchasing conditions and IT costs.
“Optimised leadership”: This part dealt with refining the BdB’s corporate
philosophy and positioning and with developing leadership guidelines.
With the “zeb/führungs.sets” guidance, optimisation potentials could
be identified in leadership culture, skills and impact and were compiled
for each division as measure packages.
“Optimised cooperation”: The working culture in and among the divisions
was geared towards an optimised interaction of skills and an effective
implementation of the defined targets. Tasks and roles were defined
and assigned to clearly specified responsibilities. Workshops and coachings support this process and the employees of the banking association
have assumed the responsibility to promote it.
| 72 |
| Strategy
Outlook
The project was completed in 2011 according to plan. Thanks to the integrated cooperation of zeb/’s strategy and transformation consultants,
the BdB was successfully supported through all stages of the fundamental change process.
Dr. Michael Kemmer
Dr. Olaf Scheer
General Manager
Managing Partner
Member of the Board of Directors
zeb/
Bundesverband deutscher Banken
Markus Becker-Melching
Dr. Matthias Uebing
Managing Director
Partner
Project Management
zeb/
Dr. Dirk Franke
Elke Benning-Rohnke
Divisional Director
Partner
Corporate Culture Project Management
zeb/
| 73 |
| Human Capital
Bankhaus Sal. Oppenheim |
Mission: Success
For more than 220 years now, Bankhaus Sal. Oppenheim has been
known for their exclusive private wealth management. Sal. Oppenheim
stands out due to customer-oriented, personalised and highly committed
advisory services, and customers appreciate the integrated asset management. This offers a sound basis for globally expanding the marketleading position and for achieving ambitious sales and earnings targets.
In 2010, the bank already initiated a programme to intensify the alignment
of private asset management with customer requirements. The advisors
in the individual branch offices significantly contribute to the success of
Sal. Oppenheim’s private wealth management. Their competent customer
service and entrepreneurial attitude and actions are essential success
factors for the bank’s positive development and customer acquisition
and retention. In cooperation with zeb/, the bank drafted a qualification
programme that satisfied the requirements of the bank, the advisors and
the customers. In 2011, this qualification focused on a timely measure
and was used to increase profitability.
Project approach
In view of opportunity costs, qualification measures always represent
enormous investments. Therefore, these measures need to be accurately
planned and implemented to ensure maximum acceptance of the presented content and a high-level transfer into practical actions. Furthermore, it
is essential to account for the various backgrounds and personalities of
advisors and the specific local requirements without losing track of excellent and individual customer advisory services.
The private asset management qualification programme carried out in
2011 included four major elements:
1. Consensus on targets and content
Before starting the training activity, the project participants, executives
and stakeholders were invited to one-on-one interviews on goals, wishes
and on a constructive support by executives and organisation. The specific training content was reconsidered and further optimised as part of
these interviews.
2. Executive’s role
It has been shown that executives have the most decisive influence on
the successful transfer of training content. Therefore, their specific estimates and requirements were collected and communicated as part of a
| 74 |
| Human Capital
Management Board road show in order to sensitise executives for their
role in their employees’ professional development. They were qualified for
an improved performance of their role as a coach and “transfer saver” in
specifically designed events.
3. On-site training
On-site training mainly relies on an effective trainer personality and format.
Due to the advisors’ experience and self-image, this stage avoided traditional seminars and trainings and instead offered formats for enhancing
self-monitoring, such as “zeb/Change Chair Coaching”. The advisors
learned to better understand the customers’ individual needs and to
respond to them and thus needed to strive for the best advisory services
for affluent customers in each individual case.
4. Stabilisation
Newly acquired skills need to be proven in practice. Executives are largely responsible for promoting this step. The trainers supported them in
directing their attention to the development progress of the single advisors. After three months, the development was reflected in a joint dialogue with executive, advisor and trainer. Advisors also benefitted from
“zeb/VTC” – a virtual coaching approach that increases the success of the
transfer into practical actions by a maximum of 60%.
Outlook
The qualification was perceived as a particularly effective measure. Participants and executives have become aware of its benefit for successful
advisory services and notice a positive effect on customer meetings and
reactions. This project has built an excellent foundation for a continued
strengthening of Sal. Oppenheim’s leading position in the private wealth
Dr. Gregor Broschinski
Dr. Cordula Haase-Theobald
Member of the Executive Board
Managing Director
Sal. Oppenheim
Head of Client and
Foundation Management
Sal. Oppenheim
Elke Benning-Rohnke
Manuela Klos
Partner
Senior Manager
zeb/
zeb/
management market.
| 75 |
Andreas Bräutigam
| zeb/studies
zeb/studies |
Markets in focus
Our zeb/studies represent a significant addition to the project work. These
detailed and substantiated examinations and analyses are designed to
offer implementation-specific and future-oriented answers and solutions
for current issues. The following pages give a brief overview on the core
content and results of selected zeb/studies of the previous year.
zeb/value compass 2011
The second edition of the zeb/value compass examines current trends
for value creation in the banking sector and extends the comprehensive
empirical study of the 2010 first edition. In 2011, the analysis also
included non-listed banks from Germany, Austria and Switzerland in
addition to the 100 largest banks worldwide. The study offers empirical
evidence on the institutions that generate an above-average total shareholder return for their shareholders or owners during an entire economic
cycle (2003 to 2010) (estimated via an adjusted Sharpe ratio for nonlisted banks) and thus derives the relevant success factors. With respect
to the implementation of the value-based management approach, interviews with top managers of international banks also show that non-listed
banks, in particular, are still in the “Reactive Value Controllers” stage,
whereas some listed banks have already reached the “Value Advisors”
or the target “Active Value Managers” stage. The 2012 edition will
primarily deal with the implications of the European debt crisis for the
global banking industry.
| 78 |
| zeb/studies
Central and Eastern European Banking Study (CEEBS) 2011
Since 2006, zeb/ regularly examines the most important trends and
challenges of the Central and Eastern European (CEE) banking business
as part of the CEEBS. The latest CEEBS edition focuses on present
market developments and on value creation and the impact on strategies
and business models in CEE. Apparently, in the last few years, the region
has lost its previous growth dynamics in light of the global financial
crisis. In this difficult market situation, the success of banks is more
and more determined by a strong capital basis and a balanced customer
business in addition to the key factors profitability and market position.
Against this background, the study presents starting points for the valuebased management of banks and develops a clear guidance. The results
of a survey conducted among decision makers of CEE banks on the
expectations and future success factors constitute another major part of
the study.
Study on the Future of Life Insurance Business
The German life insurance business is facing several challenges. Due to
demographic changes and increased competition with other retirement
products, their core business has been in a stalemate for some years now.
Without additional demand stimulation, zeb/ expects a decline in new life
business in the next ten years of roughly 10%, from currently approx.
EUR 157 billion (2010) to approx. EUR 142 billion in 2020. At the same
time, the current development of capital markets reduces life insurers’
returns so that previously guaranteed fixed interests for the business in
force are difficult to achieve. The Solvency II implementation scheduled for
2013 could further reduce the returns due to a higher capital backing for
specific asset classes and due to relevant implementation costs. The
latest zeb/ study on the future of life insurance business provides some
perspectives: The increase in German population aged 55+ as well as the
decrease of state pension provisions present life insurers with opportunities to win new target clients by offering private pension solutions.
| 79 |
| zeb/studies
zeb/ HR Study 2011
The human resource (HR) management quality contributes to the economic
success of medium-sized credit institutions with a share of roughly 65%.
Two years ago, the share only amounted to 35%. This is the most important finding of the zeb/ HR Study 2011 involving 551 HR managers,
managing directors and executives of 421 banks in Germany, Austria and
Switzerland. In the second edition of the study since 2009, zeb/ examined
how HR management creates and implements preconditions for success
and how these are directed to economical value creation. In summary,
the study found out that HR development costs have increased by about
20% since 2009, whereas the full-time equivalents in HR departments
have dropped by 15%. The challenges posed by the demographic development are greatly underestimated: Only 11% state that they are putting
in sufficient effort. Moreover, top institutions focused their investments on
the creation of flexible and attractive working environments.
Study on the Current Status of Hospital Sector Controlling 2011
With the introduction of the flat-rate-per-case-based DRG reimbursement
system in 2003, the financial conditions in the hospital sector have
changed considerably, leading to an enhanced controlling. After nearly a
decade, this has prompted the Deutscher Verein für KrankenhausControlling (German Association for Hospital Controlling), the Chair in
Controlling of the Bergische Universität Wuppertal and zeb/ to examine
the current controlling status in the hospital sector. In 2011, business
executives of all German hospitals and psychiatric hospitals were interviewed for the first time on the current controlling implementation status.
The results revealed that especially institutes with a high hospital bed
capacity and a high treatment complexity are equipped with the most
advanced controlling instruments. However, a need for improvement was
determined with regard to reporting, planning, use of cost-unit accounting
and service-oriented incentive systems. The second edition of the study
scheduled for the next year will then be able to derive development trends.
In addition to the above mentioned zeb/studies, we also updated and expanded our annual studies on private customer business and private
wealth banking. Further published researches deal with insurance management with key performance indicators (KPI) and SME collection practices in CEE.
Please contact us for further information on zeb/studies.
zeb/research
Oliver Rosenthal | Head of zeb/research
Phone +49.251.97128.300 | E-mail [email protected]
| 80 |
Frank Bösenberg
Doris Zwanzger-Kutka
Christian Bröker
Verena Weber
| Contact
Berlin
Budapest
Frankfurt
Friedrichstraße 70 | The Q
Bank Center Citibank Torony | Szabadság tér 7
Taunusanlage 19
D-10117 Berlin
H-1054 Budapest
D-60325 Frankfurt a. M.
Phone +49.30.2094.5600
Phone
+36.1.4748.233
Phone +49.69.719153.0
Fax
Fax
+36.1.4748.181
Fax
E-mail [email protected]
E-mail
[email protected]
www.zeb.de
www.zeb.hu
www.zeb.de
Hamburg
Kiev
Luxembourg
Kurze Mühren 20
42-44 Shovkovychna Str.
65, rue d'Eich
D-20095 Hamburg
UA-01601 Kiev
L-1461 Luxembourg
Phone +49.40.303740.0
Phone
+38.044.49039.70
Phone +352.278488.79
Fax
Fax
+38.044.49039.71
Fax
E-mail
[email protected]
www.zeb.de
www.zeb.com.ua
www.zeb.lu
Munich
Münster
Prague
Bavariaring 26
Hammer Straße 165
Římská 20 | Fitzwilliam Business Center
D-80336 Munich
D-48153 Münster
CZ-120 00 Prague
Phone
+49.89.543433.0
Phone +49.251.97128.0
Phone +420.2228660.70
Fax
+49.89.543433.99
Fax
Fax
E-mail
[email protected]
+49.30.2094.5601
+49.40.303740.10
+49.251.97128.101
+49.69.719153.410
+352.278488.35
+420.2228660.99
www.zeb.de
www.zeb.de
www.zeb.cz
Ulm
Vienna
Warsaw
Einsteinstraße 55
Mariahilfer Straße 20
Saski Point | ul. Marszałkowska 111
D-89077 Ulm
A-1070 Vienna
PL-00-102 Warsaw
Phone +49.731.93291.0
Phone
+43.1.5226370.15
Phone
+48.22.52853.50
Fax
Fax
+43.1.5226370.30
Fax
+48.22.52853.60
E-mail
[email protected]
E-mail
[email protected]
www.ite-computence.de
www.zeb.at
+49.731.93291.600
www.zeb.pl
Zurich
Bellerivestrasse 5
CH-8008 Zurich
Phone +41.44.56067.67
Fax
+41.44.56067.69
www.zeb.ch
www.zeb.eu
| 83 |
| Imprint
Special thanks to all employees at zeb/
for their friendly support.
Published by
zeb/rolfes.schierenbeck.associates gmbh
Hammer Straße 165
D- 48153 Münster
Phone
+49.251.97128.0
Fax
+49.251.97128.101
Internet
www.zeb.de
E-mail
[email protected]
Editor
Judith Altenau
Design and Realisation
Kerstin Reer
Photographs
Erik Hinz photography, www.hinz-foto.de
Printing House
Thiekötter Druck GmbH & Co. KG
An der Kleimannbrücke 32
D-48157 Münster
| 84 |
Judith Altenau
Dr. Anne Täubert
Andrea Rothländer-Busch
Kerstin Reer

European

Transcription

Similar documents

Private Dining Brochure (PDF - 2.7MB)

zeb 15.pmd - with love by Cari

Building and Construction Authority Zero Energy Building Braddell

Time to go banking? The electric is off. The phones are dead. The

carta de cliente en ingles

Company Fact Sheet

- Aftab Communication Group

report 2015.2016 international

the new website is coming online oct 5, 2015

Banking Sector