Why Only Best Practice Makes Perfect!
5th
March 2013 - London
Twitter: @ISO22222
Michelle Hoskin
Director,
Standards International
Author of Best Practice Makes Perfect!
Event #: #BPMP...
Who we are?
 Established in June 2007, based in Hertfordshire
 World leading certification body in financial services
 ...
Introduction...
 Company and location
 Your role
 Why you are here?
 Name
What is ‘Best’ Practice?
 Best Practice can only be achieved by creating a structured
and supported environment where eve...
What is holding us back?
Procedures and House Style
Resources and Skills
Leadership and Management
Work and Task Managemen...
The 7 Key Business Streams™
 Financial Management
 Human Resource Management
 Financial Advice & Planning Services
 Bu...
ISO 22222 - An insight
 ANSI approached BSI in 2000
 When and Who?
 Committee was formed – chaired by the FSA (David Ja...
ISO 22222 - An insight
 Eligibility Application Form
 How?
 Training & Assessment
 Annual Quality Review Audit Program...
BS 8577 – Launched 2012!
 Framework for the provision of financial advice and planning
services
 Our Role
 Current posi...
BS 8577 – continued..
 Key Sections
 9 x Over-arching Principles of Practice
 Management Responsibilities and Review
 ...
Jon Pittham – ClientsFirst
‘Quality’ communications build ‘Quality’ relationships!
5 Proven Principles for Perfection™
 Culture is the set of shared attitudes, values, goals, and practices
which character...
Principle for Perfection #1
 Design and build your unique team!
Principle for Perfection #2
Principle for Perfection #2 cont...
 Vision
 Strategic Goals
 Purpose
 Objectives
 Policies and Procedures
 Plan
Principle for Perfection #2 cont...
 Values
 Personality
 Technical Skills
 Attitude
 Attributes
 Work Ethos
=
 The Time and Task Management System™
 Doing more with the time you have
 We are not all good at the same things – we a...
 Build the right support structure
 Create your business review process
 The Process
 Effective handovers – be clear o...
Principle for Perfection #3 cont...
What?
 Client & Service
 Operations
 Team
 Business Management
When?
 Quarterly
...
 Level 1 – Management System
 Level 2 – Processes and procedures
 Level 3 – Master Copy Documents
 Three Main Levels
P...
 Overview of the company, purpose, vision, goals, plans, objectives etc
 Business review process
 Key areas:
 HR Manag...
 Identify who does what (AI & TT)
 What is your desired outcome?
 Key steps:
 How best should it be documented?
 Who ...
The Operations Management System ™
 A few examples:
 They meet contractual, statutory and regulatory guidelines
 Have a unique reference number and have been authorised
 M...
Creating your Operations Management System
 Telephone and email enquiries
 Client hospitality
 A few to think about:
 ...
Creating your Operations Management System
 Have all key processes been identified and documented?
 Are they effective i...
Mary Knapman – Accuracy Matters
Because Accuracy Matters!
Principle for Perfection #5
 The Process
 Two areas of continual improvement:
o
The Business
o
and you!
 Feedback - Pos...
 Adopt the principles of ISO 22222 & BS 8577
 Continually strive for “best” everything!
 Business
 Constant questionin...
Continual Improvement
 The Process:
Continual Improvement
 The Logs
Continual Improvement
 Clients, colleagues, professional partners and introducers
 Feedback comes from:
 Professional b...
Continual Improvement
 Be upfront, open and honest about feedback
 Collect and record all feedback – review the current ...
Tony Richardson – Octree
How to protect your most valuable asset?
Insights of the day …
Now what?
 Create change - don’t just manage it!
 Allocate responsibilities and create a plan
 Get going:
 Kick off th...
Please contact me or a member of my team:
Tel: 0044 (0)1462 790894
Web: www.standardsinternational.co.uk
Twitter: http://t...
Why Only Best Practice Makes Perfect! Presentation
Why Only Best Practice Makes Perfect! Presentation
Why Only Best Practice Makes Perfect! Presentation
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Why Only Best Practice Makes Perfect! Presentation

  1. 1. Why Only Best Practice Makes Perfect! 5th March 2013 - London
  2. 2. Twitter: @ISO22222 Michelle Hoskin Director, Standards International Author of Best Practice Makes Perfect! Event #: #BPMP13 LinkedIn: standardsexpert
  3. 3. Who we are?  Established in June 2007, based in Hertfordshire  World leading certification body in financial services  UKAS Accredited (ISO 17024 & working towards ISO 17065)  Work with the profession’s best!  Pioneering ‘Best Practice’  Independent and privately owned  Services Provided:  Best Practice Toolkit  Training and Publications  Consultancy and Support  Certification
  4. 4. Introduction...  Company and location  Your role  Why you are here?  Name
  5. 5. What is ‘Best’ Practice?  Best Practice can only be achieved by creating a structured and supported environment where every individual within it can create an amazing experience for their client So, what does ‘Best’ look like to...  Your clients  Other stakeholders  Your team
  6. 6. What is holding us back? Procedures and House Style Resources and Skills Leadership and Management Work and Task Management Time and Diary Management
  7. 7. The 7 Key Business Streams™  Financial Management  Human Resource Management  Financial Advice & Planning Services  Business Management  Client Management  Marketing and Business Development  Technology
  8. 8. ISO 22222 - An insight  ANSI approached BSI in 2000  When and Who?  Committee was formed – chaired by the FSA (David Jackman)  17 countries participated over 7 years  ISO 22222 launched 2007 - Certification commenced!  What?  Operational, financial and security management  The Six Steps of the Financial Planning Process  Ethical Behaviour and Ethical Financial Planning  Information Security, Client Confidentiality and Data Protection  Risk Management and Business Continuity  Continual Improvement
  9. 9. ISO 22222 - An insight  Eligibility Application Form  How?  Training & Assessment  Annual Quality Review Audit Programme  Certification awarded to the individual  Benefits  Improved performance through simplified, effective processes and documentation  Standardisation of good working practices and improved communication  Promotes awareness of quality and professionalism, better public awareness and public image  Sales and marketing opportunities  Reduced risk and supports regulatory requirements  The acquisition of a symbol representing the internationally recognised quality standard
  10. 10. BS 8577 – Launched 2012!  Framework for the provision of financial advice and planning services  Our Role  Current position in the market – the differences!  Firm Based  The Operational Management System™  Requirements for planners to evidence conformity to ISO 22222  Certification & The Costs  Application Process
  11. 11. BS 8577 – continued..  Key Sections  9 x Over-arching Principles of Practice  Management Responsibilities and Review  Objectives and Policies  The Operational Framework  Outsourcing  Document and Record Control  Recruitment Training and Development  Customer Relationship Management
  12. 12. Jon Pittham – ClientsFirst ‘Quality’ communications build ‘Quality’ relationships!
  13. 13. 5 Proven Principles for Perfection™  Culture is the set of shared attitudes, values, goals, and practices which characterise an institution, organisation or group
  14. 14. Principle for Perfection #1  Design and build your unique team!
  15. 15. Principle for Perfection #2
  16. 16. Principle for Perfection #2 cont...  Vision  Strategic Goals  Purpose  Objectives  Policies and Procedures  Plan
  17. 17. Principle for Perfection #2 cont...  Values  Personality  Technical Skills  Attitude  Attributes  Work Ethos =
  18. 18.  The Time and Task Management System™  Doing more with the time you have  We are not all good at the same things – we are all unique!  Being busy doesn’t mean we are being productive  Remember:  Lists and structure are crucial to your success  There is always a more effective way of doing something – so find it!  Use the right tools  Agree and communicate your decision standards Principle for Perfection #3
  19. 19.  Build the right support structure  Create your business review process  The Process  Effective handovers – be clear on instructions  Delegate correctly  Be clear on priorities and deadlines  Plan your diary and schedule  Protect yourself and your workspace  Don’t procrastinate Principle for Perfection #3 cont...
  20. 20. Principle for Perfection #3 cont... What?  Client & Service  Operations  Team  Business Management When?  Quarterly  Monthly  Weekly  Annual How?  Technical  Administration  Debrief  Management
  21. 21.  Level 1 – Management System  Level 2 – Processes and procedures  Level 3 – Master Copy Documents  Three Main Levels Principle for Perfection #4  The Operations Management System™
  22. 22.  Overview of the company, purpose, vision, goals, plans, objectives etc  Business review process  Key areas:  HR Management, recruitment and training  CPDE, T&C and compliance  Business administration and document control  Information security, risk management, business continuation  IT structure, set up and tools  Clients, service, charging and marketing Principle for Perfection #4 cont...
  23. 23.  Identify who does what (AI & TT)  What is your desired outcome?  Key steps:  How best should it be documented?  Who is currently responsible for the process?  What tools support the process? – Software systems  Roll Out, Test and Amend  Include in your Operations Management System ™ Principle for Perfection #4 cont...
  24. 24. The Operations Management System ™  A few examples:
  25. 25.  They meet contractual, statutory and regulatory guidelines  Have a unique reference number and have been authorised  Make sure:  Are clear and concise, simple and understandable, tested and amended, quality controlled and well communicated  Have quality at the core!  They have interrelated and interactive processes  You create a library of templates, letters, emails and forms The Operations Management System ™
  26. 26. Creating your Operations Management System  Telephone and email enquiries  Client hospitality  A few to think about:  First meeting confirmation and information  Conducting a first meeting and follow up  Information gathering and business implementation  Report writing and creating a financial plan  Client file management
  27. 27. Creating your Operations Management System  Have all key processes been identified and documented?  Are they effective in producing the desired results?  The Process  Are they available in both hard and soft copy formats?  Have they been effectively implemented?  Have they been logged and quality controlled?
  28. 28. Mary Knapman – Accuracy Matters Because Accuracy Matters!
  29. 29. Principle for Perfection #5  The Process  Two areas of continual improvement: o The Business o and you!  Feedback - Positive and Negative
  30. 30.  Adopt the principles of ISO 22222 & BS 8577  Continually strive for “best” everything!  Business  Constant questioning – How can we improve?  Communicate and reward for improvements made  Implement a continual improvement policy  Inspire others to improve Principle for Perfection #5 cont...
  31. 31. Continual Improvement  The Process:
  32. 32. Continual Improvement  The Logs
  33. 33. Continual Improvement  Clients, colleagues, professional partners and introducers  Feedback comes from:  Professional bodies and The FSA  Quantitative or qualitative  Feedback can be:  Formal or informal  Verbal or written
  34. 34. Continual Improvement  Be upfront, open and honest about feedback  Collect and record all feedback – review the current methods!  Key Considerations  Always encourage feedback and acknowledge receipt of it  If negative, resolve as soon as possible  Feedback to the feedback giver about action taken and follow ups  Review all feedback regularly – at monthly meetings?  Feedback needs top management buy-in!
  35. 35. Tony Richardson – Octree How to protect your most valuable asset?
  36. 36. Insights of the day …
  37. 37. Now what?  Create change - don’t just manage it!  Allocate responsibilities and create a plan  Get going:  Kick off the project and review progress  Engage with your team  REMEMBER, we are here if you need us ....
  38. 38. Please contact me or a member of my team: Tel: 0044 (0)1462 790894 Web: www.standardsinternational.co.uk Twitter: http://twitter.com/SIISO22222 LinkedIn: http://uk.linkedin.com/in/standardsexpert Email: enquiries@standardsinternational.co.uk Further Information?

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