Operation Teams’ Most Untapped Resource
No matter your function in a financial institution, in all likelihood you touch at least one technological platform daily- whether it is a loan origination system, a product and pricing engine, a loan interface software, a HMDA database, or your core operating system. You may have been involved in the onboarding of this software, or, as in many cases, you’ve inherited the system and all best practices for use were passed on to you like tribal knowledge. It’s not uncommon that the system(s) on which you’re operating (or the spec settings defaulted on them) outdate your tenure at the company- given the cost, time constraints, and high level of involvement it takes to change them. What’s also not uncommon is that those responsible for using these systems don’t have a full understanding of how they work and how or when to make changes to them. A great resource that is often underutilized when it comes to these platforms is the associated client help center. Some come in the form of a “Help” screen with user guides and definitions of the various features. Others are online resource centers, while in some cases you may have a direct contact for questions or assistance. The problem usually is, however, that staff members responsible for maintaining these platforms are not even sure what they are looking for, what to ask about, or when it would be appropriate to make a change at all.
A helpful way to mitigate the risk of passing down incomplete or inaccurate tribal knowledge is to ensure that an internal user guide is created and maintained for reference by all who touch the system. Tap your resources- both internal and external – to get yourself on the path of asking the right questions and using these platforms most optimally. Your institution is paying for it- so why not use it to the fullest?
If you find yourself or your staff members often “guessing” at the appropriate way to use a system, or more often than the terms “workaround” or “doesn’t work for that” are tossed around– it’s time for you to reach out to SCA and let our experience and knowledge help reshape your process. Contact Bill Dolan, Director, at WDolan@scapartnering.com or by phone at (617) 694-2617 for more information.
