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Glynis Aquino, DTCC Donald Wiiken, DTCC

Empowering the Six Sigma Business Philosophy at DTCC. Karim Houry ACSDA - October 10, 2007. Glynis Aquino, DTCC Donald Wiiken, DTCC. Business Philosophy. Also “management philosophy.” Platform for deployment. Usually, with a limited shelf-life. Fueling our Six Sigma Business Philosophy.

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Glynis Aquino, DTCC Donald Wiiken, DTCC

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  1. Empowering the Six SigmaBusiness Philosophy at DTCC Karim Houry ACSDA - October 10, 2007 Glynis Aquino, DTCC Donald Wiiken, DTCC

  2. Business Philosophy Also “management philosophy.” Platform for deployment. Usually,with a limited shelf-life.

  3. Fueling our Six Sigma Business Philosophy But 6 Sigmastuck and evolved… 6σ

  4. What’s in YOUR 6σ Engine? Please join me for the ride… Empower:Also “enable.” Provide the official authority. Fuel with force and energy.

  5. The Ride ! • DTCC at a glance • Our Quality journey • Lessons learned on the way

  6. Background on DTCC • Largest post-trade financial services infrastructure organization in the world • “Cradle-to-Grave” management of securities • Primary business focus on clearance, settlement, and asset servicing for equity and fixed income securities • Industry owned

  7. DTCC Mission Statement By 2010, to be the acknowledged world-class provider of servicing solutions to financial markets through leadership, innovation, technology, risk management, and strategic alliances.

  8. DTCC Customers NYSE / NASDAQ Mutual Funds Insurance Companies Trust Companies More than 11,000 companies within the global financial services industry • Banks • Broker / Dealers • Investment Managers • Securities Firms

  9. 2006 Performance Highlights 961 billion:Total number of shares traded 8.6 billion: Total number of transactions processed $1.5 quadrillion:Value of securities settled through DTCC $171.8 trillion: Financial obligations eliminated through netting $36 trillion:Value of securities on deposit $2.1 trillion: Value of mutual fund transactions processed $580 million:Rebates, discounts and interest back to customers

  10. Evolution of our Quality Culture Program Acceleration 2010 Program Expansion 2007 Launch of Six Sigma ’02 to ‘06 The 100-Day Plan 2001 2000 1980’s • Quality Circles • Employee Participation Program 1990’s • Continuous Improvement Program • Cost of Non Conformance • Work Process Improvement • Catalyst for Change • Support DTCC Growth and Strategy Early 2000’s • Six Sigma Launch & Quality Council • Central Quality Office & Six Sigma Infrastructure Teams • Balanced Business Scorecard • Cross-functional projects

  11. Regular Octane: Executive Sponsorship A Quality Council with senior executives QC “ . . . our Six Sigma program has made DTCC better, measurably better, in the way we deliver services to our customers, and in the way we perform on a day-to-day basis.” Don F. Donahue, Chairman & CEOSix Sigma in Financial Services Address, May 2007 “ . . . and if we are to stay relevant in this changing financial services environment – then Six Sigma methodology and metrics must reach deeply into our organization.” Jill M. Considine, former Chairman & CEOHow The Depository Trust & Clearing Corporation Built A Culture of Quality, June 2006

  12. Super Octane: A Clear Roadmap Acceleration • Quality Targets assigned by Business Unit • Automated BBS structure • DTCC-wide web based database Cruise Control • 6 Sigma goals linked to Corporate Goals • Balanced Business Scorecard

  13. Premium Octane: Engaging the Base Acceleration • More targeted training classes • Enhanced coaching skills • Rotation Program • Project pipeline • Kaizen Events Cruise Control • 16 Yellow Belts, 81 Green Belts, 14 Black Belts, 1 Master Black Belt • 7 rounds of Green Belts training • eLearning and instructor-led training • Green Belts Graduation Ceremonies • 200 projects completed • 600+ employees engaged

  14. Turbo-Charge: Engaging the Middle Acceleration • Require Business Process Management Training • Establish a Quality Forum • Draw by example via Fast Track Managing Directors’ Training Cruise Control • Identify Project Champions • Expand Process Excellence

  15. Your Car Needs External Sponsors ’06 CUSTOMER SATISFACTION 91% Overall 91% Quality 94% Integrity

  16. Keeping an Eye on our Internal Gauges too Identify Process & Team LaunchProjects Create Mapor SIPOC* Identify Metric TrackMetric Create Baseline& Control Chart Set ImprovementTarget Identify ImprovementProjects Identify Project Teams TrackProgressvs. Target Training: E-Learningfor Metrics ProcessControl Mgt Lean &Decision Making • Meet customer & shareholder needs • Provide a clear linkage between strategic corporate goals, process metrics, and improvement projects • Efficient processes, launch improvement projects, and tap into new markets • Drive Business Units to measure processes from an end-to-end perspective • Make decisions that benefit DTCC vs. Business Unit-specific objectives • Break down barriers among Business Units Year 1 ID Process & Metric Build Year 2 Improve Process & Metric ContinuousImprovementLoop Re-Build Improve Process Excellence Year 3 ID New Process &/or Metric Year 3 Continued Improvement *SIPOC = Suppliers, Inputs, Process, Outputs, Customers

  17. Balanced Business Scorecard

  18. This is a journey, not a destination

  19. Questions?

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