Westpac Institutional Banks for Westpac Place - myassignmenthelp

Question: Discuss about theWestpac Institutional Banks for Westpac Place. Answer: Introduction Westpacs Institutional Bank is an Australian bank as well as the financial services providers, which has headquarters in Westpac place in Sydney. It is one of the Australia big four financial institution. Its name is a portmanteau of the western pacific. As at of November of 2015 the organization had 13.1 million clients and it is the Australia biggest branch network, having 1429 branches and a network of over 3800 ATMS (Avkiran, 2000). It is Australian second largest bank in term of the assets and it is the second largest bank in the New Zealand. On 29 January 2015 the Bank south pacific they announced that there had entered into an agreement to acquire the Westpacs banking operations in Samoa, Solomon Island as well as Tongs for 125 million Australian dollars. Westpac institutional Bank offers corporate finance services to the corporations, government customers and institutions in both Australia and New Zealand. They offer services such as mergers and acquisitions, debt and the equ ity structuring, strategic advice as well as valuations to organizations (Avkiran, 2000). Moreover, they also provide security brokerage and underwriting services that focusses on a fixed interest and debt security, interest derivatives, and the foreign exchange as well as the trading commodities with major emphasis on products such as base metals and the crude oil. The WIB is majorly based in Auckland, in New Zealand but they have additional offices in London, Sydney, Australia. This research will focus on the Westpac credit process chain that determines on the speed to market new deals and the opportunities (Conway and Franulovich, 2002). The purpose is identifying and research why the steps from origination, credit processing via execution have been too slow with the critical breakdown to this process of credit and the on-boarding stage. Moreover, the research will discuss on the process as well as their effective control to make the operation to be a success. Focus of study Process management and operations The operations management in the Westpac institutional bank include the control of the costs, enhancing the level of service as well as improving on the quality of the service, which are offered to the clients (Conway and Franulovich, 2002). The credit process in this institutional have been slow from the origination by the front, credit processing up to the execution. The operations management will focus on the practices that are designed to monitor as well as manage on the processes within the distribution of the services. The creation process and the service development has been slow in this institution. The organization need to analyse on their internal processes (Sager, 1988). This organization has been undergoing some changing especially in the acquisition on some their branches with a merger from the Bank south pacific. These changes have impacted on some of their processes and they are trying to adopt to the new management and operation of the business. Process or control of the operation of the organization The credit processing in the bank is slow because of the core banking process that are complicated and cumbersome. Moreover, the core banking system are some of the oldest banking technology (Schaad, Lotz and Sohr, 2006). The core banking system which are used in the Australia are regarded as prehistoric in the technological age. There are issues of the maintenance costs as well as the manual workarounds they consumes a lot of precious resources that could be invested to be able to further the digital channels improvement or other use in this banking institution (Schaad, Lotz and Sohr, 2006). There have been other issues of the flat file mainframe database as well as the overnight batch processing have impeded on the real time transaction processing as well as the data updates which the consumers could demand. The financial institution also want to provide services, lower on the processing costs, manage on the financial assets and compete. The core systems makes the bank process to s low and become vulnerable to the new competitors, new business models and their operational. Figure 1: process-flow map of that operation Research Questions What control process will Westpac institutional bank embark on to effectively operate successfully? What has made the credit process chain to be slow for the Westpac bank? What mechanism will Westpac institutional bank put in place to prevent the critical break down in their credit process and the on boarding stage? What is the extent of the adequacy of the credit management for efficient and sustainable credit delivery? Project Related Literature Summary Operation and Process Management On the process design issues payback for having a good process is very significant. The Westpac institution bank has devoted time and effort in the design process, assessing the performance for the alternative design in regards to efficiency, quality, and the overall time they put (Schaad, Lotz and Sohr, 2006). On the aspect of the quality being able to achieve the benefits of the cost for the slick process, design without the compromise for the quality will give the organization a significant competitive advantage. Sometimes, it can be difficult to separate on the design for the process from the various design of the services, which they provide. The credit process is designed with the constraints as well as capabilities of drive through the process in mind. There is need to adapt on their design marginally to be able to facilitate on their operation (Teten and Farmer, 2010). The processes should be designed in order to be appropriate to the market they are services. It is important to note that the various market strategies could require different process of the design (Cohen, Gan, Yong and Chong, 2007). A good starting point for any of the operation would be to understand on the direct relationship that exists between the strategic and the process for the performance objectives. Understanding on the current processes in this organization would help make improvement especially in the credit processes based on the reality of what happens in practice. It will be about allocating on the tasks as well as the associated capacity very carefully to the appropriate parts for the process to work (Togher, Dunne and Hartheimer, Ebs Dealing Resources, 2000). For most of the processes, It will involve the design which is capable of taking into the consideration with the variability that exists to most of the human tasks. Planned Research Methodology In this research study, will be conducted in the consultation with the staff in the credit operations at the head office of the Westpac bank using the survey design with structured self-administered questionnaires. Research Design To be able to achieve on the objective of the study, the research will undertake a descriptive approach using both qualitative and quantitative data. In doing so the study will intend on describing, comparing, contrasting as well as interpreting on the existing facts and be able to puts the status in relation to different variables that could help us in understanding the issues and lead to the causal analysis (Lynch, McNair, Polito, D'urbano, Riseman and Kaiser, American Home Credit, 2005). The research further would employ survey as a research method. The secondary data would be obtained from the various publication of the banks and other financial institutions. Moreover, the relevant data will be grasped from the numerous books, research papers, magazines, the newsletters and the website of this organization (Pauly, 1987). The primary data will be collected via the questionnaires that will be distributed to the respondents which will involves the department managers and the senior officers working on the credit processing of the organization, these group are such as the credit analysts, credit follow up, monitoring officers, and the credit directors. Ethical Considerations The ethical consideration I will look at are confidentiality and privacy disclaimers for internal sources. The ethical issues especially in the financial institution affect everyone especially on the privacy aspect (Beck and Davis, 2005). It will be important to determine the information that is collected and how it would be used. Sometime we may not be aware of what data is being collected about us or perhaps how it would be used. When carrying the research it would be important to keep private the information of the bank secure to prevent it being passed to the third parties. The information, which will be given in the questionnaire, will be for the purpose of the research only and should be secure to fall in the hands of the competitors firms. Schedule for Completion Tasks Details of the approach Days Introduction The 7 days Focus of study components The research would be done on various analysis on the design and the core theories, which link on process performance. 14 days Formulation of research questions The drafting on the research questions based on the research problem. 10 days Projected literature review The review will use descriptive approach 21 days Planned research methodology The research design will be done to formulate the best technique to use. 5 days Data collection and analysis The data will be collected from the various departmental head and staff of the organization 10 days Outcome to evaluate on the Recommendations will be provided on how to improve the credit processing. 3 days References Avkiran, N.K., 2000. Rising productivity of Australian trading banks under deregulation 19861995. Journal of Economics and Finance, 24(2), pp.122-140. Beck, D. and Davis, E., 2005. EEO in senior management: Women executives in Westpac. Asia Pacific Journal of Human Resources, 43(2), pp.273-288. Cohen, D., Gan, C., Yong, H.H.A. and Chong, E., 2007. Customer retention by banks in New Zealand. Banks and Bank Systems, 2(1), p.40. Conway, P. and Franulovich, R., 2002. Explaining the NZ-Australian exchange rate. Westpac Occasional Paper. Jones, R., Nielsen, J. and Trayler, R., 2002. The bank selection process and market definition in Australia. Journal of Financial Regulation and Compliance, 10(1), pp.22-30. Lynch, J., McNair, J.H., Polito, S.J., D'urbano, R.E., Riseman, M. and Kaiser, W., American Home Credit, Inc., 2005. System and method for automated process of deal structuring. U.S. Patent 6,901,384. Pauly, L.W., 1987. Foreign banks in Australia: the politics of deregulation. Australian Professional Publications in association with the Centre for Money, Banking, and Finance, Macquarie University. Sager, M.T., 1988. Competitive information systems in Australian retail banking. Information Management, 15(1), pp.59-67. Schaad, A., Lotz, V. and Sohr, K., 2006, June. A model-checking approach to analysing organisational controls in a loan origination process. In Proceedings of the eleventh ACM symposium on Access control models and technologies (pp. 139-149). ACM. Teten, D. and Farmer, C., 2010. Where are the deals? Private equity and venture capital funds best practices in sourcing new investments. The Journal of Private Equity, 14(1), pp.32-52. Togher, M., Dunne, M.F. and Hartheimer, R., Ebs Dealing Resources, Inc., 2000. Credit management for electronic brokerage system. U.S. Patent 6,014,627.