File Defects

Project Description:

Problem Statement: Defects found in Customer Files by the Post Closing Department exceed 30% each month. The large number of defects results in lost revenue, poor customer service, increased cycle time, increased risk to the bank and significant rework costs.

Goal Statement: Reduce defects to less than 6%.

Start Date: September   End Date: July

Project Metrics

Sigma: Baseline: .52 Current: 1.23

DPMO: Baseline: 301k Current: 109k

Project Benefits

Net Savings:

• Direct Savings: $3MM
• Soft Savings:

Realized Savings (if available):

• Direct Savings:
• Soft Savings:

Project Accomplishments

• Defects reduced 64% and still falling
• SOP’s written for Flood, Tax, Note, BillPayer and Hzrd
• SOP’s written for Post Closing defect identification
• Standardized checklist developed
• Checklist scorecard developed
• Functional process map