Business Challenge

Management had a concern that the cost of processing mortgage applications was too high, that application-to-offer times were too long and that growth was being impeded by the current operating model.

What WDScott did to help

1. Conduct Operational Review - First we undertook an operation review to establish a process view of the business, to assess the degree of alignment with the business strategy, to determine a performance base-line, to quantify the untapped performance potential, to identify and quantify opportunities and then to describe the improvement options, define an approach and recommend an appropriate change intervention.
   
   Outcomes - Key findings of the review included average application to offer time >15 days and >35% capacity gap.
2. Define and Implement a Business Change Entity - Using the WDScott 14 dimensions method we defined this entity which included 4 sub-entities - 1) head of business change, 2) process definitions and standards, 3) resource planning, performance analysis and reporting, 4) process improvement. The primary focus for this entity is to progressively introduce the WDScott process model, process management and process improvement approach across the whole business.
3. Implementation - this phase started in the Underwriting area and involved a 11 week cycle within each team. The cycle comprised 4 weeks to define the operating, management and support processes within the team, 1 week to prepare for the implementation and 6 weeks to complete the implementation to the point that all team members were executing processes as defined (i.e. conformance). The definition and implementation was supported by WDScott’s SmartPack tool kit that includes a process data base, resource modelling and planning, process monitoring, process and resource performance analysis and overall performance reporting. The implementation uses WDScott’s change management, process coaching and process improvement tools and techniques.
   
   Outcomes - in excess of 25% improvement that was defined into the operating processes was delivered by the end of the implementation.