Loren Bishop

Vice President - Director of Lean Management Office
State Street

Loren is the Director of the Lean Management Office at State Street Corporation.

He has worked in the Lean Management Office (LMO) for the last 8 years and has led the team for the last 3 years. Prior to that, he worked in a number of leadership roles in financial services; spending most of his time in Client Service and Relationship Management as well as Operations Management. It was during that time that he was involved in many client and internal initiatives which introduced him to process improvement methodologies and project management and laid the foundation for a career in operational excellence.

State Street is the second oldest financial institution in the United States providing investment management, research and trading, investment servicing and data analytics solutions to institutional clients. The company operates in 100 geographic markets worldwide and has $28 trillion of assets under custody and administration and $2.45 trillion under management.

State Street’s LMO exists to build a sustainable culture of problem solving, innovation and process improvement that enhances the customers’ experience, empowers employees and creates shareholder value. To accomplish this mission, the LMO has developed a strategy and approach to embed continuous improvement and innovation into the culture of State Street that will enable the Lean Management System to be part of their DNA and the way that they work. 

10:00 AM B2 - Measuring your OPEX effectiveness

You can’t manage what you can’t measure. Developing business related clear cut measurement metrics and KPIs are fundamental for your continued operational excellence efforts. In this session, you will learn practical tips in effectively measure and improve your operational excellence initiatives:
· What can you measure: growth (revenue) vs. efficiency (cost) and why do they matter
·  Developing business related KPIs with clear accountability
·  How do link your operational excellence with business P&L
·  How can you measure the non financial elements through customer and employee engagement 

2:35 PM Case Study: State Street Corporation’s operational excellence Story: Building a culture of innovation and continuous improvement

· The transformational journey: from a lean based approach to strategic business partner
·  Focusing on an increased impact on business outcome and customers
· Building critical skills in the workforce through lean infrastructure
·  Drive engagement through recognition and socialization
·  Embedding the lean culture in the Business Units