Business Consulting

 

Below are some examples of client success stories using CROSH Consulting:


Client Need: A Top 10 Mortgage Lending bank was implementing a Loss Mitigation Workflow system and needed help from industry Subject Matter Experts to help start the program. Additionally, they needed project management help running several of the workstreams and assisting with Program Financials and Executive Reporting. During the program, the client realized a lack of depth of knowledge in the project team regarding their system of record and needed additional assistance.

CROSH Response: First, CROSH provided one of the principals with over 30 years of experience in Mortgage Servicing to help evaluate the vendor systems and build out the vision and scope for the program. Next, CROSH brought in a Project Manager to be on the ground leading 3 of the 5 workstreams and helping set examples for strong project management discipline. The Project Manager was able to provide support for business requirement gathering with the business partners, manage the vendor thru system configuration, facilitate system and user testing, and then finally deploying the system. The Project Manager was able to bring together multiple stakeholders including Technology, Business Partners, Testing Teams, Business Analysts, Change Management, and Training together to successfully deliver the common goal.

Additionally, the CROSH Principal and the Project Manager were able to support the bank program manager taking on all financial reporting for the 6 million dollar program. They also designed and supported the executive and steering committee status reporting and risk identification/ mitigation for the entire program. During the project, the team identified a resource gap of knowledge on the system of record. CROSH quickly inserted an additional consultant with deep system knowledge that was able to run a new work stream for system integration that required hands on data analysis, mapping and testing validation for files with hundreds of data elements. 
 
Client Need: A community bank in the northwest United States needed professionals to help manage integration activities associated with the bank’s acquisition of additional branches. They needed to deliver structure, process and rigor to manage this broad based change initiative as the project’s timeline was accelerated by nearly 40% immediately prior to the acquisition.

CROSH Response: CROSH was able to provide project management professionals with extensive knowledge related to merger activities to lead the large initiative. The effort involved a full analysis of the current state of operations, design of the target state, risk analysis, associate training design, and development of management routines and an implementation plan to achieve the targeted timeline. Additionally,
subject matter expertise was required to support the following:
•  Incentive compensation analysis, Product comparisons and selection, staffing analysis.
•  Process analysis and integration for each core business unit including Deposits and Branch Operations, Consumer and Mortgage Lending, Commercial Lending, Finance, Marketing, Compliance, and Infrastructure Technology.
•  Collaboration with new executive to establish an in-house Secondary Marketing function and requisite policies, and procedures. At the end, the aggressive revised timeline was met and transition of branches was seamless for customers and associates. With CROSH project management expertise, the bank was able to execute a timely and efficient acquisition to double in size.
 
Client Need: A large, multi-national bank that serves over 18 million customers implemented new mortgage loan origination technologies that focused on wealth management customers. Shortly after the implementation, the bank needed to review and implement process changes to improve the customer and associate experience, improve operations, and create greater overall efficiencies.

CROSH Response: CROSH provided resources to begin a current state assessment and deliver process design recommendations. To implement the recommendation, first, we segregated duties between a 3rd party vendor and the bank’s internal personnel to create greater
accountability. Then we established a middle office to act in crucial roles to ensure process integrity. The middle office needed staffing level analysis and skillset requirement definitions. Finally, CROSH lead the hiring/staffing of these new roles, with related documentation on roles/responsibilities, job descriptions and procedures. The end results were a more efficient process that delivered a higher level of
customer experience and satisfaction for the wealth management business unit.
 
Client Need: A 1.5 billion asset size bank wanted to grow its Mortgage Banking business to expand its presence and recognize more efficiency with its mortgage loan origination process. They needed outside help to review end to end processes, assess and make recommendations to centralize operations, assist with systems conversion, and poised to grow their business through business development.

CROSH Response: CROSH consultants began with a process re-design to accommodate the new Loan Origination System implementation. The scope of the program quickly expanded to needing project management leadership for the following business components:
•  Compensation analysis and recommendations; career pathing; current and target state analysis; skillset Inventory
•  Loan Costing and Pricing analysis
•  Organizational Re-Design, including Leadership roles
•  Functional consolidation from branches to operations center
•  Production staffing level/gearing ratio analysis and recommendations
•  Developed production reporting, service level agreements, roles and responsibilities, job descriptions and procedures, risk analysis and opportunity recommendations
•  Day to Day Management of the Mortgage Operations Center: Production and Personnel, including establishment of inter and intra-departmental management routines

With leadership and years of mortgage origination experience, CROSH was able to lead the bank to executing on all components that delivered an organized, accountable, repeatable, and focused end to end mortgage process. The efficient process led to increased client, associate and shareholder satisfaction.
 
Client Need: As a result of a large bank merger, the client needed help running all aspects of the Mortgage Program as part of the corporate acquisition implementation. A senior leader was needed to manage a program of 18 workstreams, direct the project managers and report to executive stakeholders.

CROSH Response: One of the CROSH principals was engaged to lead the Mortgage Merger Program Office. He organized the Program Office and managed the project managers on the 18 workstreams for all project phase deliverables. The work streams covered telephony, numerous system conversions, process improvement, personnel training, compensation analysis, operation center consolidation, site shutdown, investor approvals and other key functions supporting the acquisition. The Program Manager provided vendor management across all workstreams. The Program Manager was able to coordinate project plans across all workstreams towards a single conversion weekend while resolving escalated issues and mitigating potential risks. As a result, the bank conversion weekend was executed with minimal impact to customers and associates. The Mortgage Program Office was responsible for conversion of over 22 thousand loans to target banks systems and facilitated organizational change management for 120 Mortgage Loan Officers and 35 operations support personnel. The Mortgage portion of the bank merger was considered highly successful from the executive stakeholders.