Aligning Financial Services Performance
Performance management is a strategy and a set of methodologies and processes that can be used for managing performance in financial services organizations. Its purpose is to achieve a common set of goals and objectives in the most efficient manner. Functionally, performance management is about aligning day-to-day processes and activities with organizational strategy. This makes it of obvious value to financial services executives and professionals for several reasons: It communicates to all stakeholders an agreed-upon strategy and helps align the organization around it. It provides the framework for measuring results and taking corrective action when necessary. And it both increases visibility and mitigates risk, two characteristics often lacking in management of a financial services organization’s performance.