Operations Improvement
OPERA® is not a one-size-fits-all approach. The
framework is designed to evolve as your understanding and organizational
requirements evolve.
Our approach consists of a three-step implementation beginning
with the initial assessment and quantification of your firm's operations
performance. This step is followed by a comprehensive diagnostic
analysis that leads to continuous process measurement and quality
assessment.
Initial
Assessment
Beginning with an initial Check-up and Performance Estimate
Basis Point Group provides a structured high level snapshot of an
entity's operations performance. The entity can be the total organization
or a subsidiary, investment group, or other functional group.
BPG collects the initial assessment data and conducts a short review
of the organization structure, operating processes and technical
application support infrastructure. These steps generally take less
than a day. A Basis Point Group Partner then delivers a preliminary
performance assessment complete with an overall score, daily performance
and other measures and attribution of quality derived from the quantitative
information your organization has provided.
The initial assessment also provides management an understanding
of the organization's preparedness for comprehensive diagnostic
review. As part of the Initial Assessment Report, BPG provides
initial OPERA® performance and Unrealized Risk®
measures, your firm's performance relative to the OPERA®
Operations Performance Benchmark Scale and a comparison to the
relevant market benchmarks.
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Quarterly Operations Performance
Assessment
Basis Point Group now offers an on-going OPERA® Quarterly
Operations Performance Assessment Service. This service provides
the same structured snapshot of your operations performance as the
initial assessment but extends your knowledge with the inclusion
of performance trends that include a summary of operational changes
in volatility, complexity, intensity and operations efficiencies
well as measurable improvements your organization has initiated
during prior quarters.
The OPERA® Quarterly Operations Performance Assessment
Report provides operations a measurement capability that rivals
the investment organization's performance measurement. OPERA®
assesses the effect of internal actions while isolating the impact
external organizations and events are having on your overall operational
performance.
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Comprehensive Diagnostic
Review
The Comprehensive Diagnostic is a detailed process, group
and functional organization analysis and review. The comprehensive
diagnostic review refines initial assessment measurements providing
additional detail of processing hotspots and risk pools. BPG delivers
a detailed analysis report highlighting and identifying the cause
of potential process instabilities that lead to costly errors and
increasing processing risk.
Depending on the potential hotspots identified in initial assessment,
a firm may choose to focus on individual areas of operational performance
or conduct a broader assessment of performance and risk for the
entire organization. Working closely with key managers, the diagnostic
review provides the dual benefits of identifying areas for potential
actions while teaching managers how to utilize the OPERA®
measurement approach.
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Continuous Process
Measurement
The final implementation stage of the OPERA® approach
is to implement a Continuous Process Monitoring capability
that measures and manages quality and risk on an on-going basis.
Important firm-centric quality measures are identified and integrated
with the core OPERA® quality and risk metrics to
assure that the organization, from senior management on down, are
provided an appropriate view of critical quality measures for their
job responsibilities.
Identifying potentially significant issues as soon as they are
discovered, the OPERA® framework provides line management a
much more efficient method of isolating, analyzing and correcting
potential errors that affect clients and embarrass the firm.
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ABOUT US
OPERA®
