Improve transactional environment performance by up to 40%, whilst significantly improving processing accuracy.

Financial Services

SECORA’s Financial Services Practice has delivered benefits to clients over eight years working with major and boutique institutions in Asia, Australia and Europe. These include banking, treasury, funds management, insurance and broking.

Financial Services


Private banking and wealth management

Our client was experiencing extended back office processing times for the onboarding of new customers. The period between the initial new client meeting and achieving Funds Under Management exceeded 90 days. Through organisational re-design, we reduced the end-to-end processing time by 50% and quality escapes by 80%.

Maximising the value from compliance

In the last decade, the expansion of the compliance role has been mission critical. However, there is little data for management to know where their business sits on the cost curve of compliance, relative to their industry peers. We review, map and analyse the existing compliance function, providing insights based on industry best practice and bench marking. This may allow the stretching of the compliance spend by up to 40%.

Improving the effectiveness of risk and compliance processes

Within a major financial institution, the risk and compliance reporting process was not robust enough to prevent quality escapes. This, in turn, led to potential compliance violations. Using root cause analysis, process re-design and training on the reporting process, we reduced quality escape occurrence by 100%.

Closing the gap between historic compliance systems and current state activities and requirements

Increased regulatory compliance requirements and externally driven deadlines have given rise to compliance process, manual workarounds and multiple bespoke solutions. We collaboratively develop, refine and implement highly-efficient Task Lists and Standard Operations for critical tasks, reducing the possibility of error.

External Fund Manager (EFM) performance optimisation

By identifying boutique EFM’s with substandard currency overlay performance, analysing currency deviations and resulting currency P&L deviations, effective initiatives were designed. These included total return mandates, minimum performance thresholds and new controls over EFM management including requirements for hedging FX risk. These developments resulted in a US$12M improvement.

Improving sales effectiveness

We work with medium and large sales organisations in financial institutions to sustainably increase their sales revenue by 15–35% within six to nine months. We help identify opportunities to improve the effectiveness and conversion rates of the sales team, also optimising and balancing the back end of the business. This ensures the increased volumes are processed more rapidly and cost effectively, limiting deterioration in service and customer satisfaction.

Reducing cost of sale

We work with medium and large organisations in financial services and banking, reducing their cost of sale by on average 20-25%. These reductions immediately flow through to improved margins and profitability. This is achieved by partnering with our clients to design, deploy and execute a balanced set of practical improvement initiatives. These initiatives utilise our process improvement, systems thinking, change management and execution expertise.

Mortgage portfolio risk weighting optimisation

Historically, mortgages were recorded by customer rather than geographic location or property type. Changes to capture additional data for risk weighting required parallel systems and extensive reworking. However, these initiatives reduced capital costs significantly.

Optimisation in third party mortgage administration processing

The reconciliation of manual payments for private mortgage clients was carried out on multiple IT platforms with manual intervention. This lead to extended processing times and quality escapes. A system review and re-design reduced the processing time by 65% and decreased quality escapes by 92%.

Reducing the cost of settlement delays and errors

Settlement delays and errors from the middle and back office were leading to operational losses and brand damage with clients. Identifying the root cause of the issue through process examination allowed a revised process, hence reducing operational losses due to settlement delays and errors by 79%.

Enterprise mapping to identify key risks and areas of ineffeciency in front and back office

A facilitated mapping exercise enabled our client to identify three key areas of opportunity; risk, operational inefficiency and audit strategy. These findings resulted in the realignment of 13 asset classes into six, FTE reduction and an improvement in transparency, with US$4M in savings.

Our Clients in Financial Services

Meet our Service Sector Specialists

Mark Taylor, Partner

Mark founded SECORA Australasia with John Grout in 2006 and has consulted for clients in the Mining, Defence, Utilities and Professional & Financial Services sectors. Mark is a former Partner of Ferrier Hodgson, Chartered Accountant and Restructuring professional. Mark has advised clients on system wide restructuring and re-organisations, productivity improvement, cost reduction, process efficiency and business case development in Australia, the APAC region and Europe.

specialists linkedin link
John Grout

John Grout, Partner

John founded SECORA Australasia with Mark Taylor in 2006 and has consulted for clients in the Mining, Oil & Gas and Professional Services sectors. John comes from senior executive operations positions having spent 15 years in the automotive and defence sectors. His strengths include advising clients in Lean methodologies with particular emphasis on operational effectiveness, asset utilisation, cost reduction, work management, organisation, project management, restructuring and strategic planning.

specialists linkedin link