Branch and Back Office Restructuring
A U.S. firm acquired a Japanese financial institution. Structure of the industry changed, leading to a need to restructure the branch system. Project resulted in closure of 400 manned branch locations and opening of 400 unmanned branches at superior sites. - Company leadership also identified opportunity to relocate data center to lower cost country.
- We managed financial aspects of projects.
Result
- Projects were major contributors to 25% expense improvement for the company.
Organization Re-Design
- A Japanese company which was part of a division across Asia had been a start-up 2 years earlier.
- We identified needs for improvement of accounting processes. Existing staff also needed assistance from external advisors to file regulatory reports to government agency.
- We re-built accounting and regulatory reporting processes. We also consolidated the local financial staff with the Asia division office, which was located in Tokyo.
Result
- Staffing level of combined financial staff reduced by 40%, releasing resources for use elsewhere in the business. Efficiencies achieved through process re-engineering, skills upgrades, and workload rebalancing. First successful audit in firm's history.
Process Improvement
- A Japanese firm had been acquired by a U.S. firm. Many expense items were subject to wide variations and had become unpredictable on a monthly basis.
- We established a review process with senior management responsible for major cost centers to ensure proper expense recognition. We also established an expense controller position to lead the effort.
- Recruited professional bi-lingual staff to enhance process.
Result
- Expense predictability improved, accrual process enhanced. Process improvements led to 20% reduction in finance staff.
Interim CFO
- A U.S. firm had 2 Japanese subsidiaries which were managed independently, as required by Japanese regulations.
- The firm identified a legal structure for the firms which would allow for the appointment of a single CFO under local regulations. Regulatory approval would be required for the new structure, but the CFO of one of the subsidiaries resigned before consolidation was completed.
- We assumed the role of interim CFO for 6 months.
Result
- Consolidation completed, complying with Japanese regulations and eliminating senior controller position. Key staff retained; new product launch executed on schedule.
Cash Management 
- A lending business in Japan maintained over 1,000 accounts with local banks and ATM networks for customer payments and disbursements. Business needed to mitigate counterparty risks without adversely impacting customer relationships.
- We partnered with risk management to build process to conduct financial reviews of counterparties. Established exposure limits and initiated daily monitoring process to identify breaches of approved limits.
Result
- Process installed successfully - ensuring ongoing evaluation of financial strength of counterparties and escalation of breaches to company leadership. Customer payments continued without interruption.
