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Giving flow to the 'cascade'
Wim den Dekker
Mark Northway
and this is the only way we can be
successful. This also means that our
performance objectives and the Key
Performance Indicators (KPI's) have to
be well synchronised. Ifourobjective is
to increase cross-sell, how can that be
realised? By synchronising objectives,
agreeing on the strategy and then
establishing a mutual level of accounta-
bility to execute the plan,' he says.
Originally from Rabobank USA, Krapels
was given a mandate to build a team
of originators with expertise to signifi-
cantly build cross-sell capability in GFM
products with the bank's core corporate
cliënt base.
Now he needs access to the Corporate
Banks cliënt base, while working very
closely with Relationship Managers. 'My
Desk Plan is a shortened version of my
business case to build this team in
London, and for this to be successful we
need to be mutually accountable for the
success of more cross-selling revenue
with existing corporate clients. Members
of my team have been given very specific
revenue targets, together with qualitative
and quantitative goals,' he says.
'Qualitative targets include: knowing your
customer, and understanding their risk
management, their funding and their
investment requirements,' says Krapels.
That is measurable by the development
of a cross-sell plan with the Relationship
Managers of the Corporate Bank.
Originators also need more access to
information. Quantitative targets for
cross-sell need to be set at both a GFM
Origination and Relationship Manager
level. This establishes a mutual incentive
to succeed, not only by means of goals
but by very clearly-defined criteria that are
easy to measure. And unless you include
those in your performance objectives,
planning becomes more of a discussion
rather than a realistic goal,' he explains.
As this is the first time the QAP process
has been put in place, there are obviously
improvements to be made and feedback
from the desk heads has been gathered
and used to tighten up the process for
next year. 'We are trying to raise our
performance to the next level,' comments
Seale, 'so the QAP must focus not only on
what we are doing well, but also point out
weak spots and establish how Desk Plan
objectives can find flow in this "cascade".'
Krapels adds: 'And Desk Plans need to be
updated every year if they are going to
remain meaningful.' According to
Northway, 'A balance must be achieved
between GFM level issues and desk level
issues, otherwise the process risks
subsuming desk level issues. This can
be addressed by means of a minor
redesign of the Desk Plan forms,' he
says. Den Dekker agrees: '30% of staff
objectives have not been finalised in the
Balanced Scorecard.'
Seale's view is: 'If you don't measure it, you
don't manage it.' The translating strategy
into action process has nevertheless set
a definite course and will be continued
later in the year in preparation for 2006
objective-setting.
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