Rationalize Controls Using Lean Six Sigma Principles to Combat Rising Regulatory Management Costs

Banks are incurring significant costs to ensure compliance with evolving regulations by layering controls and resources onto increasingly complex and inefficient processes. To reduce this burden, Navigant’s Brad Schaltenbrand and Christopher Sicuranza recommend that banks proactively rationalize their internal control structure, taking a holistic approach and incorporating Lean Six Sigma principles.

Key Lean Six Sigma principles entail:

These guiding principles are the foundation of the authors' recommendations in this paper.

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