Minimizing risk, maximizing effective decision making

CHALLENGE

Credit Suisse, the leading global financial services company, operates in more than 50 countries, employing more than 46000 staff and provides consumers, corporations, governments and institutions with private banking, wealth–management and investment banking services.

Managing financial risk is critically important at Credit Suisse where they carry responsibility for client assets and for the timely & accurate processing of business critical transactions 24 hours every day. Set against a backdrop of increasing trade volumes and the increasingly complex range products & services which they deliver to clients, good risk management is seen as a decisive competitive advantage, supporting revenue and earnings growth, helping avoid errors and improving corporate performance.

In 2012 Neueda were selected by Credit Suisse to help design and deliver a global Operational Risk Awareness training program for over 7000 staff in Operations Centres in Europe, Asia and North America.

APPROACH

Working with subject matter experts from Credit Suisse operations teams our first step was to develop a series of realistic scenarios each of which demonstrated how the level of risk reduces in line with improved communication, effective decision making and proper collaboration at key handover points.

These scenarios formed the basis of an interactive eLearning program which was rolled out to staff at all levels from Managing Director through to junior analysts.

 
The eLearning was then followed up by facilitated workshops where staff had the opportunity to discuss key learnings and debate how they would address operational risks within their own departments. Neueda instructors led the initial workshops and also trained Credit Suisse managers in facilitation & train–the–trainer skills, enabling them to deliver the workshops in remote locations.

RESULTS

The program has helped achieve the following immediate objectives:

  • Staff can identify how Credit Suisse’s Risk Management framework and controls apply to their own role and department, and how they can help reduce risk.
  • There is a common language and standardized approach to operational risk management regardless of location or department. This helps ensure best practices are applied at key handover points and across complete business processes – the areas where problems typically occur. 
  • Operations staff feel more confident when deciding to intervene or escalate specific incidents & anomalies.