What pisses you off in the office? What do you think must be done?
I am currently working at an internationally-recognized bank and one of the functions I am responsible for the job I signed up for is to disclose, through a report, the beneficial ownership information of a certain stock or a security to our clients or to the appointed agent of a bank client, taking into account that they were able to submit a valid letter of authorization from the company. So once we receive a request via email, we would generate the report from a system according to the necessary required information by just keying in the details, print the report, encrypt for security purposes and send it to the requestor. What frustrates me is that, the volume spikes every first week of the month ranging from 200-250 requests a day where the normal volume for the rest of the month is only 20-50 requests, of which I am only referring to just one type of the reports we have to submit. Imagine this, we have other 4 types which we should be able to send within 48 hours from the time of receipt based on the agreement of the bank to its clients. Intensifying the frustration, this is just one of the functions I am handling and I have to attend to the other duties as well, much more complicated than the disclosure report.
So I thought of a suggestion- an online system, which I'm planning to discuss to my direct manager. On a high-level view, it is an online system where the clients would just log in, input the required details on the report, (say: report type, stock or security and the holdings date) as well as the details of the letter of authorization (if obtaining the information is through a third party or an agent appointed by the requesting company) which will then be subsequently verified by the system if it is still valid, given that these LOA details have been recorded/previously created in the system and updated monthly. After passing through the verification process, the client can now generate the report needed. I am imagining the system as: same as downloading a statement of account from a bank you have an account with, anytime you want to, via online. In this way, the clients don't need to wait for two (2) business days the most just to get hold of the report. On our end, we don't have to manually process the requests anymore and we can concentrate more on other responsibilities. The only disadvantage I can think of with this idea is the high costs of building a system for these types of requests. 4
No comments:
Post a Comment