error - CULytics Community2024-03-28T15:02:33Zhttps://culytics.com/blogs/feed/tag/errorError Resolutionhttps://culytics.com/blogs/error-resolution2018-02-07T18:09:30.000Z2018-02-07T18:09:30.000ZSteven Simpson, PhDhttps://culytics.com/members/StevenSimpsonPhD<div><p>Greetings from Suncoast Credit Union here in Sunny Tampa Florida. I'm Steven Simpson and am VP Strategy and Innovation. The purpose of this blog is to seek feedback, opinions and collaboration regarding "error resolution".</p><p>A particular regulatory entity :-) is asking us to do a lot of work around CIP and Account Opening. Our "error rate" was said to be "too high". Of course no real guidance re: acceptable amount of errors or best practice process is provided. We've responded by doing two rounds of audits on every new account, we've communicated that errors are not acceptable to the point of creating "stress" in our branch environment and yet we still have errors. From a Six Sigma perspective, given the number of fields to be input, volume of new memberships, variability in the member themselves, etc. a goal of 100% (beyond 6sigma) is unattainable! But the questions I'd like to pose is:</p><p>1) does anyone track their "error rate" during account opening / CIP?</p><p>2) if so, would you share your typical "error rate"? (note that you can email me directly at steven.simpson@suncoastcreditunion.com) and that if I get several responses I'd be happy to anonymize and share with all respondents</p><p>3) I'd welcome a discussion re: methods and practice to track and calculate. We may be our own worse enemy re: definition of what is an error, should we have different levels or types of "errors" and measure them separately to better identify "CIP significant errors", etc. I also feel that we're doing too much with multiple rounds of audits. </p><p>Thanks in advance for the discussion</p></div>