Bank of America Corporation

Barbara R Macy

Kenneth R Dafforn

Aline Young

David D Price

Michael Scott Goodman

Charles Elliott Wolter

Jerry B Blow

Jose Antonio Covaria Martinez

Bill Pappas

Jason David Barnes

James Peter Michael Purr

Embodiments of the invention provide systems and methods for managing updates to a financial transaction monitoring system, wherein the financial transaction monitoring system is configured to specially handle any financial transactions involving an entity identified in a list of entities. In one embodiment, the system includes a communication interface configured to receive an update to the list of entities, the update including one or more new keywords. The system may further include a memory device having information about a plurality of transactions. In one embodiment, the system includes a processor configured to: determine the number of transactions in the plurality of transactions that can properly be associated with at least one of the new keywords; and determine whether the update will impact the financial transaction monitoring system based at least partially on process metrics and the determined number of transactions in the plurality of transactions that can properly be associated with at least one of the new keywords.

System update management

A method for managing business rigor for a financial institution includes receiving business rigor data based on activities to implement a plurality of core products. A performance table, unit cost report, and summary report are created or updated based on the business rigor data. The performance table may include data based on an analysis of the business rigor data; the unit cost report may include a cost report based on the performance table data; and the summary report may include a report based on the unit cost report. The summary report is presented in order to improve the business rigor data.

Method and system for creating data for business rigor measurement and management of capacity, cost and risk

Evaluation of a business case based on the cost of poor process opportunities. In at least some embodiments, an evaluation of a cost of poor process opportunity (COPPO) in an 'as-is' process can include calculating a cost per step for each of the plurality of steps or tasks in an activity. COPPO can be determined based in part on whether each step or task in a process or activity is a non-value-add step, and also based in part on a cost of poor quality (COPQ) target percentage. In some embodiments a total cost of poor business process relative to a total cost for each of the plurality of steps can be displayed for a user. The COPPO evaluation can further be used to facilitate the evaluation of a business case for a 'to-be' process.

Evaluation of a business case based on the cost of poor process opportunities

Method and systems for operationalizing process excellence. An execution methodology of the invention can meld process excellence with various tools and incorporate activity-based financial modeling, and an operating efficiency model. The overall process can be divided into sessions which can include pre-work, as well as characterizing 'as-is' and 'to-be' processes. The goal of the sessions is to create a continuous improvement productivity loop. The processes of the invention can be aided by apparatus including an instruction execution platform operable to store and execute computer program code instructions for implementing a plurality of the tools for use in characterizing the as-is and a to-be processes. One or more of these tools can be implemented in the form of a spreadsheet. A data store can be operatively connected to the instruction execution platform by a network to supply historical data and store results.

Method and systems for operationalizing process excellence

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Charlotte, NC, United States of America

Barbara R Macy