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Tuesday, October 29, 2013
USING QUANTITATIVE METRICS TO IMPROVE BANK PERFORMANCE
As banks struggle to generate revenue growth, metrics need to change and become more aligned with the new priorities, guiding banker action and providing an effective feedback mechanism to achieve proper performance. Performance management systems have been around for decades but rarely have they been properly, if at all, implemented. At many banks the analytic focus is out of synch with reality, often directing banker action away from strategic priorities or setting goals that are unrealistic, given job demands and market dynamics.
-Key issues and roadblocks related to developing a proper set of metrics
-What internal organizational and political issues need to be addressed in setting metrics?
-What ongoing process does a bank need to follow in order for these metrics to be a key part of a bank’s cultural shift to greater customer focus and sales?
-What’s the right number of metrics and how often should they change?