A financial institution is selected for the purpose of this review. To maintain its confidentiality this organization will be referred to as RCB Bank. This review is based on personal working experience in RCB Bank and reference to other materials such as internet and books on related subject. RCB Bank was established in July 1959 with its first branch located in Kuala Lumpur. RCB Bank was the first American bank to be incorporated as a subordinate company of the worldwide American bank. It started with 17 employees and now has 5,500 staff of which more than 95% are local. It was localized in 1994. Now, this institution serves customers across 7 branches in KL, Selangor, Penang and Johor.
RCB Bank offers both consumer and corporate banking services. It offers a range of banking and financial management service including credit card, loans, insurance and investment in consumer business. RCB Bank is a leading player in Malaysia credit card space, holding 20% market share in credit card usage.
Corporate banking services offers a broad spectrum of financial services that includes treasury management, transaction services, securities custodianship, foreign exchange, fixed income, sales and trading and corporate finance to corporate clients, governments and financial institutions. RCB Bank is the only foreign bank to be rated AAA by the Rating Agency Malaysia for 8 consecutive years a reflection of its effective operation management. Operation Management is the science and art of ensuring that products and services are created and delivered successfully to internal or external customers. Every organization’s ultimate goal is to maximize profit and improve its return on investment. To achieve this, a proper operation management is necessary. There are five objectives of operation management, namely Quality
All this five objectives apply to all type of operations (organization), including RCB Bank. The diagram below shows the bank’s transactional process flow. It will assist to illustrate how the five objectives integrate within the institution’s operation. Quality
The first objective discussed is quality. As many competitive organization, RCB Bank also emphasizes on its quality. It aims to always exceed customers’ expectation. For a financial institution quality means doing things right in the first time on processing coupled with knowledgeable and courteous staff. In its effort to ensure quality RCB Bank manages the following activities: •Staff training
•Campaigns on quality.
Staffs are given training that befits their station. A sales staff is trained on product knowledge, customer service as well as compliance to both internal and external regulations. This is to ensure that they are able to provide quality service to the customer. The bank tellers and processing clerks are given high-level product knowledge training and more on the processes and compliance. This is to ensure a zero defect processing. Then there are the various levels of managers, all of whom are given the trainings that will enable them to support the organization’s drive towards quality.
This organization invested in getting ISO accreditation for its processes. This is a proof of the organization’s commitment towards quality. In order to obtained the accreditation the organization is required to document its processes and ensure that the quality aspect of these processes are given due emphasis. Each department in the organization has the relevant processes documented. These processes are designed to ensure error free process, such as inclusion of maker and checker. New processes are added and obsolete ones removed. These documents are updated and reviewed on regular basis to ensure that they are current and remain relevant. Staff are required to read, understand and...