Knowledge Center

Implementing a Knowledge Management System

Mutual Fund Solutions
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Business Challenge

Investment management companies are operating in an economic environment that is continually getting leaner and more complex and demanding every day. The need has never been greater for inclusive and dedicated quality resources where new ideas are cultivated and industry best-practices are not only shared, but defined. Additionally, higher quality products and services at a reasonable cost are key drivers in today’s marketplace. In order to respond to these changes and challenges, our Transfer Agent became the first in the industry to become ISO 9001:2008 certified.

Our Solution

Applying ISO 9001:2008 gave us the tools and resources to integrate core processes and establish key performance indicators. This infrastructure provides clear, fact-based analysis on the effectiveness of all processes to create a better understanding of customer needs, prompt cost reduction, and improve service levels.

The Result

The outcome of continuous quality improvement initiatives, including becoming the first third party transfer agent to receive ISO 9001:2008 certification, have translated into the highest performance in the industry by providing:

  • Increased operational efficiency and productivity. Our Financial Intermediary department streamlined processes and technology to reclaim dealer losses 72% faster. We also increased our accounting efficiency ratio by 4%.
  • Better documentation and elimination of redundancy. Our Document Distribution department eliminated inefficient processes to deliver work products 11% faster. This allows us to devote our energy providing even higher quality, client-focused products.
  • Greater quality awareness. Our Quality Control department increased internal error capture rates by 2% by developing more robust trend analyses that identify common processing errors.
  • Enhanced internal and external communication. Our call quality scores increased by 4.5% through our ongoing efforts to ensure we are delivering the highest quality customer experience.
  • Improved audit results. In addition to achieving NQR’s highest distinction of Best-in-Class with an overall accuracy rating of 99.2%, our internal processing accuracy statistics continue to increase as we emphasize and focus on our core values.
  • Faster and better decision making. By giving our employees tools to share best practices and ideas, we increased employee engagement and awareness of key performance indicators. For example, in 2009, we accepted and completed 89 employee-generated continuous improvement ideas.
  • Greater data reliability. The accuracy of our adjustment processing increased to 99.87% due to improved documentation and tools.
  • Increased risk management. Transfer Agent employees dedicated more than 2,100 hours in cross functional shadowing in 2009, which included time spent with our Anti-Money Laundering and Fraud departments. This amplified awareness of what is considered potentially suspicious across departments and resulted in an increased number of items reviewed for possible fraudulent activity.

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