Reengineering a Major Bank’s Trade Finance Business
A major bank was looking to develop and implement a robust trade finance proposition.
The main challenge facing the organisation was to create an operating model and organisation design that was consistent with the bank’s overall positioning in the corporate segment and its risk appetite.
We were invited at an early stage to provide Strategy, Organisation Design, Performance Management and Interim Management.
How We Helped
Having established the key objectives and outcomes, we defined the market segments by size, industry and geography where the bank had a presence and an appetite for trade finance exposure.
Following an in depth review of the existing product set to evaluate functionality and strategic fit relative to chosen markets and segments, we identified gaps in the proposition and defined a prioritised roadmap for proposition development.
Upon approval of the roadmap, we introduced professional product management disciplines and tools including individual product plans setting out features and benefits relative to segment-specific client needs, competitor/market analysis, development plans based on unmet needs, marketing plans, risk parameters and capital treatment
Core to the assignment was the development of the concept of ‘Product manager as business owner’ with accountability for all aspect of product performance (income, cost, balance sheet, client satisfaction, market perception etc.).
The salesforce was restructured to optimise engagement with key client segments and relative generalist relationship coverage teams. We then redeveloped the sales targeting model focus on key revenue drivers.
The final stage of the assignment was the recruitment and retention of top talent from across the industry in both product management and sales.