Skip to product information
1 of 2

Design of an Operational Risk Management System Project Example

Design of an Operational Risk Management System Project Example

Regular price $24.95
Regular price Sale price $24.95
Sale Sold out
View full details

Financial DMADV project manages reduces operational risk by $6.4 million annually


Great Lakes Finance Company (GLF), a small Michigan-based retail and commercial lender, experienced several severe operational risk losses.

These events, combined with recent actions by the U.S. Federal Reserve ("Fed") to define criteria and requirements for measuring and managing operational risk, highlighted the need for GLF to overhaul its current risk management system.

The motivation for improvement was clear: Lower risk results in better lending rates, which leads to higher margins or greater market share.

The Six Sigma team tackling this problem redesigned GLF's operational risk measurement system and integrated the methods into GLF's existing Enterprise Risk Management (ERM) system.

As a result of this Design for Six Sigma (DMADV) project, no major loss events occurred in the five months following the project.

Annual savings from reduction of all loss events were estimated to be $6.4 million.

[caption id="attachment_17034" align="alignleft" width="1250"] Sample image from project example[/caption]

Open Source Six Sigma

More products from iSixSigma

Our Promise To You

100% satisfaction guarantee
20+ year track record of excellence
Instant download after purchase
40,300+ templates, tools and reports sold through iSixSigma
Future updates included free

Recently Viewed Products