Lean Financial Services Green Belt - Automated Learning€¦ · · 2015-04-24financial services sector including facility insurance, mortgage ... and their appropriate application

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Lean Financial Services Green Belt Certification

On-Line Learning Program

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Table of Contents The Power of Lean Thinking ............................................................. 3 Lean Green Belt Financial Services Certification Program................. 4

Your Journey to Certification.....................................................................................4 A Blended In-house Approach to Certification..............................................................4 Program Objective:..................................................................................................4 Target Audience:.....................................................................................................5

Program Structure and Features: ..................................................... 6 9 On-line Lessons....................................................................................................6 Participant Workbook...............................................................................................6 Supplementary Resources ........................................................................................6 Expert Mentoring.....................................................................................................6

Program Assessment........................................................................ 7 Program Assignment................................................................................................7 Program Exam ........................................................................................................7

Lesson 1: Lean Thinking ................................................................... 8 Lesson 2: Lean Thinking and Financial Services ............................... 9 Lesson 3: Lean Tools and Practices I .............................................. 10 Lesson 4: Lean Tools and Practices II ............................................ 11 Lesson 5: Value Stream Mapping (VSM) ......................................... 12 Lesson 6: Kaizen............................................................................. 13 Lesson 7: 5S ................................................................................... 14 Lesson 8: Lean and Six Sigma......................................................... 15 Lesson 9: The Roadmap to Lean Implementation ........................... 16 International Standard for Lean Certification ................................. 18 Registration – Lean Financial Services Green Belt Certification...... 19





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The Power of Lean Thinking Lean was introduced by Toyota in the 1960s as a systematic approach to identifying and eliminating waste or non-value-add activities in an organization through continuous improvement with the goal of creating value. The essence of Lean Thinking is to eliminate waste through understanding the value to the customer, how to deliver that value, how to create an efficient and waste-free business processes, and the continual pursuit of a perfect system. Lean has subsequently spread to pharmaceutical, aerospace, medical parts, electronics, healthcare, and financial service sectors. All types of organizations are discovering the advantages of educating their people in Lean and applying its principles within their own organization. Some of these organizations are trying to function effectively in the face of diverse challenges such as market turbulence; regulatory compliance; product complexity; and declining market share due to process or cost problems, and limited capacity. In all of these cases, Lean can have an immediate, positive impact on business. Through the process of implementing Lean, the organization can find ways to achieve substantial benefits. Lean Thinking is effective in the financial services industry because it is a process-based sector. The industry can leverage Lean to improve customer relationships, increase customer retention, optimize processes, and increase employee satisfaction. Despite competitive pressures, substantial amounts of waste exist in administration and service operations. Delays, bottlenecks, errors, redundancy, workarounds, and ambiguity abound. Non-value-added work can be as high as 95 percent. Lean is a methodology that can eliminate these problems. Operations executives struggle to find new ways to reduce cost while delivering high-quality service. Lean Thinking enables financial service institutions to expand existing cost-reduction opportunities, while simultaneously creating customer value. Lean can be applied to a variety of processes at any financial institution to reduce costs and increase margins. That means collapsing the time spent on processes and minimizing errors. It helps organizations understand critical operations and the processes that drive them, and it provides the foundation for developing new and better ways to conduct business. It is a methodology focused on understanding customers’ needs and providing services to match. That means providing value while exceeding expectations. Results will vary, but here are some typical savings and improvements:

� Increased throughput

� Consistent service delivery

� Reduced lead times

� Optimized use of space

� Improvement in quality

� Increased compliancy

� Development of new innovative ways to increase business and cross-sell services

� Reduced transactional errors

� Reduced operational expenditure

� Standardized work practices





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Lean Financial Services Green Belt Certification Program The Lean Green Belt Financial Services Certification program has been designed by the Leading Edge Group in association with Lean experts, the Irish Institute of Industrial Engineers and professionals in financial institutions. Our Lean program provides an understanding of the theory and also the efficient application of Lean tools, practices, and concepts in service-oriented processes typically found in the financial services sector including facility insurance, mortgage lending, banking, as well as the transactional and administrative functions common to corporate operations.

The program focuses typically on front and back office processes, which support all areas of customer acquisition and management including credit application processes; customer service; transaction and payment processing; arrears and collections; etc. It will help organizations to identify and eliminate waste, provide the tools to help achieve sustainable operational improvements including optimized process flows, reduced expenditure, decreased transactional errors, and standardized work practices. Finally, the program will outline a roadmap to achieving an optimal delivery performance through increased flexibility with the objective of delivering ‘value’ as defined by customers in a timely and efficient manner.

Your Journey to Certification This 3-month on-line certification program consists of 9 on-line lessons that provide participants with a comprehensive overview of Lean Thinking and its application. It also outlines and demonstrates the essential Lean tools and practices that can be applied to decrease costs, increase efficiency and quality of service, and improve customer and employee satisfaction. The program can be undertaken by individuals through on-line distance learning study. You receive 6-month access to a Learning Management System portal from where you can log in at any time and launch each lesson, take prep exams, view and download on-line resources, and interact with fellow students and experts via a Lean discussion forum. Expert mentoring support via e-mail is also provided from this portal. Participants also receive a hard copy participant workbook for the program.

A Blended In-house Approach to Certification The program can also incorporate six on-site classroom training and facilitation days to supplement on-line courseware, associated resources, and expert mentoring where an organization registers a minimum of 10-12 participants in one setting. The classroom sessions are available free of charge and will explore the program content and how it relates to the client, while supporting and focusing on various aspects of the projects/assignments being undertaken. Each individual in the group also receives full access to the Learning Management System portal to access and use the on-line lessons, prep exams, on-line resources, discussion forum, and mentoring facilities.

Program Objective: Upon successful completion of the Green Belt Certification program, financial services professionals will achieve proficiency in understanding and effectively applying the concepts, tools, and practices associated with Lean Thinking to achieve immediate sustainable improvements.





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Target Audience: Commitment and support for Lean in any organization needs to come from the top down for support, and from the bottom up for implementation. With this in mind, the certification program is appropriate for a diverse range of managers and employees. It is targeted at financial service professionals with little or no knowledge of or experience in Lean concepts, tools, practices, and their appropriate application. Financial service professionals at all levels will benefit by learning how to use the core concepts, tools, and practices of Lean to optimize critical business processes through the identification and subsequent reduction of non-value-adding activities. The program will find relevant application within financial service organizations with responsibilities for functions such as the following:

� Treasury outsourcing

� International cash management

� Auditing/Accounting

� Liability, property, and professional insurance

� Finance shared service centres e.g. health insurance claims

� Investment advisory and management services

� Foreign exchange risk management

� Asset financing

� Back office administration support services and contact centres – e.g. payroll, customer services, customer billing, credit card applications, recruitment, mortgage applications and approvals

� Software development

� Trust and custody services

� Life assurance and pensions

� Leasing

� Administrative and accounting services

� Reinsurance management

� Mutual funds services

� Legal

� Retail banking – management and staff

� Data processing centres

� Cash and securities processing





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Program Structure and Features:

9 On-line Lessons The Lean Green Belt Financial Services Certification program is made up of the following on-line lessons:

1. Lean Thinking

2. Lean Thinking in Financial Services

3. Lean Tools and Practices I

4. Lean Tools and Practices II

5. Value Stream Mapping

6. Kaizen

7. 5S

8. Lean and Six Sigma

9. The Roadmap to Lean Implementation Each lesson provides on-line content incorporating real world case study examples of Lean applications in the financial services sector, along with useful in-line questions and assessments to enable students track their progress.

Participant Workbook Participants receive a hard copy participant workbook that contains the content of the program as well as resource references, further reading, and suggested exercises to help enhance understanding and learning.

Supplementary Resources Supplementary on-line resources in the form of case studies, presentations, white papers, articles, interviews, and recommended URLs and publications are provided for students to download.

Expert Mentoring Expert mentoring access is available to provide e-mail support for participants in relation to any queries or issues that they may have while progressing through the program. Students can send an e-mail an expert mentor at any time and will receive a response within 2 working days.





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Program Assessment The assessment model that exists for the program is based on the completion of a project/assignment worth 50% and a final on-line examination worth 50%. The basic overall pass mark is an aggregate 40% across both assessment components. A minimum mark of 40% for each assessment component - assignment (20/50) and exam (20/50) - is required to pass. The student's total out of 50 for each component is aggregated to calculate their total and final mark.

Program Assignment Participants have the option of completing the assignment as a customized in-house project whereby they aim to focus on an area within their organization and use some of the Lean tools and practices covered in the program to initiate and/or implement improvement (s). The alternative for participants who are not in a position to undertake the custom/in-house assignment option is to undertake a standard version based on using the Lean tools and practices covered in the program to address a case study developed by our Subject Matter Experts.

Program Exam The final exam covers all the lessons that make up the program. It is on-line, open book, and 90 minutes in duration. Participants undertaking the exam are required to nominate a third party Proctor to verify their identity as the participant who completed the exam in the designated time frame, and that the same participant did not receive assistance from anyone else in doing so.





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Lesson 1: Lean Thinking This lesson provides a basic understanding and appreciation of the key elements of Lean Thinking. Designed in the 1960s for manufacturing applications, using the Toyota Production System (TPS) as its main guiding principle, the benefits of Lean Thinking have spread beyond manufacturing processes. It is now being applied to non-manufacturing areas such as the financial services and healthcare sectors because of its outstanding effectiveness. This lesson identifies and discusses each of the five core goals of Lean Thinking, focusing on the concepts of waste elimination and value creation within organizations. It explains how Lean Thinking can be applied successfully in non-manufacturing businesses or industries.

The lesson consists of the following sub-topics:

� Introducing Lean Thinking and its Origins

� Lean Thinking Beyond the Production Floor

� The Principles of Lean Thinking

� Lean Thinking Goals

On completion of this lesson, students will be able to:

� Define the term ‘Lean Thinking’

� Identify the type of organizations that can implement Lean Thinking

� Outline why organizations typically implement Lean Thinking

� Identify and distinguish between the principles of Lean Thinking

� List the core goals of Lean Thinking

� Identify how the Lean Thinking goals can be met

� Identify the main categories and types of waste





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Lesson 2: Lean Thinking and Financial Services This lesson introduces the costs and quality issues associated with modern day financial services. It outlines the inefficiencies in the sector and the wastes that contribute to these. The lesson identifies the benefits associated with implementing Lean Thinking in the financial services arena. It outlines and explains the main steps involved in implementing any Lean initiative, and it stresses the importance of employee contribution, commitment, and performance in such an implementation. Finally, the lesson introduces the principles behind Lean Accounting and how it seeks to move from a traditional cost accounting system to a system that measures and motivates good business practices in the enterprise. The lesson consists of the following sub-topics:

1. Financial Services and Lean

2. Financial Service Waste

3. Why Lean and Where

4. Recognizing the Importance of Employee Contribution

5. Defining Value and Eliminating Waste

6. Case Study 1: Applying Lean Thinking in a Postal Service

7. Introducing Lean Accounting

8. Case Study 2: Developing a Lean Accounts Payable System


� Identify the cost and quality issues associated with the financial services sector

� Recognize the factors associated with increasing financial services costs

� Identify the effects of waste and wasteful activities in financial service organizations

� Identify the main reasons for implementing Lean Thinking and the associated benefits within financial service organizations

� Recognize where Lean Thinking can be applied in financial services

� Recognize the importance of employees in the successful implementation of Lean

� Suggest how to gain and maintain commitment, trust, and maximum performance from all employees in a Lean initiative

� Recognize the main steps involved in any Lean implementation

� Outline an approach for defining value and eliminating waste

� Identify how best to strive for continuous improvement in a Lean initiative

� Identify the principles of a Lean accounting system





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Lesson 3: Lean Tools and Practices I This lesson introduces the Lean tools and practices used to improve process flow. Any Lean implementation begins with Value Stream Mapping (VSM) to establish where and how improvements can be made in terms of process flow and overall quality. This lesson introduces VSM and explains some of the techniques that may emerge as a result of a VSM strategy including how cellular working can be used to increase trading and transaction processing effectiveness, reduce hand offs, and increase first time resolution; how standard work is used to develop the most efficient methodology to perform a task or function; and how Kanban and Point of Use storage can optimize the flow of files, documentation, and materials. The lesson consists of the following sub-topics:

� Value Stream Mapping (VSM)

� Case Study 1: Value Stream Mapping a Monthly Credit Card Mailing Offer Process

� Case Study 2: Value Stream Mapping an Insurance Claims Process

� Case Study 3: Value Stream Mapping a Renewal and Billing Process

� Lean Enterprise Self Assessment Tool (LESAT)

� Layout Improvement via Cellular Working

� Just-In-Time (JIT)

� Kanban Systems and Point of Use (POU) Storage

� Establishing and Maintaining Standard Work Practices

� Balancing Resources and Work Flow to Reduce Cost and Improve Service


� Identify and distinguish between the Lean tools and practices used to improve process flow

� Identify the function of the Lean Enterprise Self Assessment Tool (LESAT)

� Identify the function of Value Stream Mapping (VSM)

� Recognize the principles and objectives associated with the Just-In-Time (JIT) philosophy

� List the basic principles that underpin the Kanban system

� Identify the benefits of the Kanban system

� Recognize the principles associated with successful layout improvement

� Suggest a layout modification to help reduce hand offs in a specific process

� Identify the principles and benefits associated with standardized work

� Develop standard work practices for a specific function or task

� Suggest a suitable strategy for balancing work and leveling resources for a given process





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Lesson 4: Lean Tools and Practices II This lesson introduces the Lean tools and practices that can be used to reduce variation and improve quality. Any Lean implementation begins with Value Stream mapping (VSM) to establish where and how improvements can be made in terms of process flow and overall quality. These are typically used in conjunction with those covered in lesson 2. The key functions of each tool are outlined, as well as an overview of how each should be used. For example, the lesson will outline how Poka Yoke is used to prevent quality failures and errors; how a visual management system ensures that the organization’s goals are clear and that all information necessary to as work effectively as possible is easily accessible. The lesson consists of the following sub-topics:

� Workplace Organization (5S)

� Visual Management

� Kaizen

� Quality at Source

� Mistake Proofing (Poka Yoke)

� Six Sigma

� Lean Ancillary Tools - Total Productive Maintenance (TPM) and Quick Changeovers (SMED)

� Resource reading: 5S and Poke Yoke in Banking


� Identify and distinguish between the Lean tools and practices used to reduce variation and improve quality

� Identify the goals and activities of the 5S tool

� List the elements of an effective visual management system

� Identify the requirements for a successful Kaizen Event

� Recognize the benefits associated with implementing problem solving and project management techniques in financial services

� Identify the function of quality at source techniques

� Identify the function of Poka Yoke

� Recognize the guidelines associated with attaining optimal Poka Yoke in a financial service setting

� Identify the function of Six Sigma

� Recognize the function of Total Productive Maintenance and Single Minute Exchange of Dies (SMED)





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Lesson 5: Value Stream Mapping (VSM) This lesson focuses on Value Stream Mapping (VSM) and expands on the basic principles outlined in lesson 3. It provides a comprehensive walk through example on how VSM is applied in high street bank to optimize a home improvement loan application process that is struggling to meet increased call center customer demand. The example outlines and explains how and why the product has been chosen for the VSM initiative, how the current and future state maps for the process are developed, and how an effective Value Stream Plan for realizing future state improvements and efficiencies is created and implemented. The lesson also includes a case study on how VSM has been applied to improve a customer training scheduling process for a large commercial bank.

The lesson consists of the following sub-topics:

� Value Stream mapping (VSM) Overview

� Implementing VSM

� Mapping the Current State

� Establishing Customer Demand

� Mapping the Future (Lean) State

� Implementing the Value Stream Plan

� Case Study: Value Stream Mapping a Bank’s Customer Training Scheduling Process


� Identify the advantages associated with Value Stream Mapping (VSM) in financial services

� Identify and order the main steps involved in carrying out VSM

� Identify the function of a current state map

� Distinguish between the icons used in a current state map

� Identify and distinguish between the phases involved in developing a current state map for a financial service process

� Calculate on-hand inventory quantities / waiting times for a particular financial service process

� Define the term ‘opportunity time’ and calculate the opportunity time for a particular financial service process

� Calculate the Takt time for a particular financial service process

� Identify the main steps involved in developing a future state map for a financial service process

� Distinguish between the icons used in a future state map

� Specify appropriate lightening strikes and improvement elements for a specific future state map

� Specify appropriate elements to include in a future state map, based on existing current state information

� Identify the factors that ensure a successful value stream plan





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Lesson 6: Kaizen This lesson focuses on Kaizen and expands on the basic principles outlined in lesson 4. It provides a detailed outline of how to plan, prepare, and implement Kaizen Events. Kaizen Events are structured programs that target part of a process or an entire process that is not working as well as it should. They provide the foundation for achieving frequent, quickly won improvements that improve service and cut cost while building a momentum for change. The lesson outlines the requirements for an efficient Kaizen Event, and the benefits that a successful Kaizen Event can offer the enterprise. The lesson consists of the following sub-topics:

� Kaizen Overview

� Process, Flow, and Point Kaizen

� The Kaizen Event and its Participants

� Planning for Improvements

� Implementing Improvements

� Case Study 1: Implementing Kaizen in Sales and Marketing

� Case Study 2: Implementing Kaizen in an Accounting Process


� Define the term ‘Kaizen’

� Identify the benefits of Kaizen and Kaizen Events

� Identify the requirements for a successful Kaizen Event

� Identify and distinguish between the key participants in a Kaizen Event and their associated roles

� List the characteristics of a suitable financial services area for a Kaizen Event

� List the responsibilities of a Kaizen team leader

� Recognize the steps involved in planning for and developing an financial services improvement strategy

� Recognize the data required when establishing the current state of a financial process for a Kaizen Event

� Identify and distinguish between techniques that a Kaizen team can use to identify the root cause of a problem

� List appropriate follow-up practices for Kaizen Events





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Lesson 7: 5S This lesson focuses on the 5S methodology and expands on the basic principles outlined in lesson 4. It outlines the benefits associated with an effective 5S program, and it provides a detailed analysis and outline of each of the stages involved in its implementation. The lesson consists of the following sub-topics:

� Introducing 5S

� Planning for 5S

� Stage 1: Sorting

� Stage 2: Set in Order

� Stage 3: Shine

� Stage 4: Standardize

� Stage 5: Sustain

� Resource Reading: Applying 5S in Service Industries


� Identify the aims and benefits associated with 5S

� Identify the correct order for the stages involved in 5S implementation

� Recognize the participants in a 5S implementation team

� Identify the steps involved in planning a typical 5S implementation

� Distinguish between the stages of 5S

� Identify how each of the 5S stages should be implemented in a financial services organization

� Identify the deliverables associated with each of the stages of 5S





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Lesson 8: Lean and Six Sigma This lesson explains the main functions and methodologies of Six Sigma. It explains the role of the Lean Six Sigma integration model, and how it is used to achieve a successful Lean transition within a financial services organization. The lesson consists of the following sub-topics:

� Introducing Six Sigma

� Define, Measure, Analyze, Improve, Control (DMAIC)

� Case Study 1: Using DMAIC to Reduce Product Development Time in Financial Services

� Voice of the Customer

� Change Acceleration Process

� SIPOC Diagrams

� Design For Six Sigma

� Failure Mode and Effects Analysis (FMEA)

� Case Study 2: Using FMEA to Improve Customer Satisfaction

� Integrating Lean and Six Sigma

On completion of this lesson you will be able to

� Identify the function of Six Sigma

� Distinguish between the functions of the Design, Measure, Analyze, Improve, Control (DMAIC) methodology, Design for Six Sigma (DFSS), and Failure Mode and Effects Analysis (FMEA)

� Identify the function of each of the elements of DMAIC

� Match the elements of DMAIC with the steps involved in implementing each one

� Identify some of the Six Sigma tools that can be used to implement DMAIC

� Recognize the function of the Six Sigma tools that can be used to implement DMAIC

� Identify the phases in which each of the Six Sigma tools used to implement DMAIC should be used

� Recognize where FMEA is applicable in financial services

� Identify the main steps involved in implementing FMEA

� Suggest a suitable FMEA approach for a financial service process

� Specify the appropriate approach for implementing Lean Six Sigma in an organization

� Differentiate between the principles of Lean Thinking and Six Sigma

� Identify how both Lean and Six Sigma can be combined to ensure a successful and sustainable implementation of the DMAIC system within a financial services process area





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Lesson 9: The Roadmap to Lean Implementation This lesson outlines a basic roadmap for implementing Lean. It provides some important factors that are crucial to implementing a Lean system for a business. The ability to manage and overcome resistance to change is fundamental to any successful Lean implementation. If all those directly and indirectly impacted by a Lean project do not embrace the changes that such a project brings about, then the implementation itself will be doomed to failure, and the sustainable improvements that can be achieved may never be realized. This lesson outlines and explains appropriate techniques for managing the type of resistance that can occur in any Lean implementation project. It also examines concept of ergonomics and how important ergonomics are to any Lean system. The lesson consists of the following sub-topics:

� Types of Change Resistance

� Why People Resist to Change

� Reactions to Change

� Stages of Resistance

� Conditions for Change Acceptance

� A Strategy for Managing Change Resistance in a Lean Implementation

� The Role of Leadership in Managing Change

� 10 Steps to Lean Implementation

� Implementing a Lean Value Stream

� Implementing Lean through Hoshin Planning

� The Importance of Lean Ergonomics


� Identify the types of resistance to change that can occur in a Lean implementation project

� Recognize and differentiate between the different reactions to change

� Identify why people resist to change

� Recognize the stages of resistance that people go through when reacting to change and the order of these stages

� Outline the necessary conditions for change acceptance

� Identify techniques required to understand, address, and manage resistance to change

� Identify the role of leadership in managing and addressing resistance to change

� Utilize appropriate techniques to manage and overcome change resistance for a specific Lean implementation

� Recognize and distinguish between the steps involved in the roadmap to Lean implementation in a financial services organization

� Identify how each of the steps in the roadmap can be implemented





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� Identify ways of implementing a Lean value stream

� Identify the steps involved in the Hoshin Planning process

� Identify the methodology used to apply Hoshin Planning

� Recognize the importance of ergonomics in a Lean implementation

� Identify the ergonomic risk factors associated with Lean systems

� Outline how Lean ergonomics should be implemented





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International Standard for Lean Certification

The Leading Edge Group designed and launched a new International Standard in Lean in April 2005. The standard is supported by the Irish and American Institutes of Industrial Engineers, Canadian Professional Logistics Institute, and University of Limerick.

The programs can be undertaken by individuals or groups through distance learning or company in-house solutions. The offering includes the following Lean Certification programs:

● Lean Green Belt Certification ● Lean Supply Chain Management Green Belt Certification ● Lean Healthcare Green Belt Certification ● Lean Financial Services Green Belt Certification ● Lean Black Belt Diploma in Quality Management ● Lean Healthcare Black Belt Certification





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Registration – Lean Financial Services Green Belt Certification To view current pricing and for secure on-line purchase please visit our ONLINE STORE

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Lean Financial Services Green Belt - Automated Learning€¦ · · 2015-04-24financial services sector including facility insurance, mortgage ... and their appropriate application