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Top 3 Business Problems – October

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Top 3 Business Problems – October

business problems
October 24th, 2016 by Leah Hoffmann
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At Business Talent Group, we help clients address business problems across different industries and functions.

This month, many of our projects were focused on the Financial Services industry… Here are 3 of the most interesting ones we tackled.

IT Operating Model of the Future

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The leadership team at a global financial services firm was concerned that the company’s IT model could not support its long-term needs. Cross-functional matrices added inefficiency, and made it harder to achieve consistency on issues like data center strategy and cloud technology. Hoping for an objective view on what they might do differently, the Head of Strategy turned to BTG.

BTG delivered a senior IT transformation expert who had trained at McKinsey and served as CIO at major companies in financial services, insurance, and publishing. After analyzing the team’s topline business imperatives and long-term aspirations, our consultant refined IT operating models based on the company’s internal drivers, leveraging best practices to draft a high-level framework for the future.

Piloting Process Improvements

Process Improvements

After a series of acquisitions, it was time for a commercial bank to standardize its back-office loan processes. Knowing that his lean team would need additional support, the SVP of Process turned to Business Talent Group (BTG).

The first process on the client’s agenda was small business lending. From origination to servicing, each loan type was handled differently; the client’s goal was to get consistency in at least 80% of the work. But he needed help defining a new process that would both successfully address customer needs and reduce internal inefficiencies.

BTG’s financial strategist began with a short diagnostic that helped her understand current workflows, identify customer pain points, and understand competitive trends. Then she outlined key principles for servicing small business customers and designed a detailed end-to-end process that followed them, including risk analyses, controls, and roles and responsibilities. After presenting these recommendations to stakeholders, she outlined an implementation plan, and continued to work with the company on a part-time basis as the client began to execute.

Digital Product Support

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When most companies hire interim executives, they look for someone who has the same skills as the departing exec. But when the marketing team at a global financial services company turned to BTG for support during a key leader’s maternity leave, we recommended a different approach.

The company had just developed a new tax-reporting application, and the team was struggling to keep up with all the work that attended its launch. So BTG worked with executives to craft a 3-month project that would focus exclusively on ensuring the new product’s success. We delivered an experienced product development expert who had worked at American Express and NBCUniversal, and who spearheaded efforts to define the new product’s target audience, develop its positioning, and create a content strategy. By the time the internal executive returned, BTG’s consultant handed off a comprehensive communications strategy and numerous supporting pieces of content.

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Leah Hoffmann

Leah Hoffmann is BTG's Marketing & Content Strategist. A former journalist, Leah worked for Forbes.com and The Economist before joining BTG. She is passionate about clear thinking, sharp writing, and strong points of view.

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