A priority for the Fund is to ensure data integrity in our administration system, to help understand and analyse the Fund's overall performance and identify and implement improvements to ensure the Fund is performing at its best. With this in mind a brand new role was created of Data, Performance and Reporting Lead, within the Operations Team of the Fund.
This newly established position requires the post holder to be versatile and dynamic in their role. Not only will they report on existing data, but they will also be responsible for identifying new data streams. By transforming this data into performance monitoring tools, it will highlight areas where changes can be made to improve efficiency and streamline processes.
Areas of Focus
- Weekly, monthly and quarterly KPI reporting
- Data Integrity
- Performance Reporting
What has been cooking in the Data, Performance and Reporting Lead kitchen?
Recent introductions of daily and weekly performance reporting have enabled managers to measure the team's productivity and analyse workloads, moving resource to where it is required to avoid an unnecessary backlog.
Proof is in the pudding - weekly, monthly, and quarterly KPI reporting, enabling a deeper understanding of where the Fund is working well and where improvement is required.
This has resulted in the identification of cases being held up at "checking status" or waiting for further information from external sources. Work is now underway to investigate this and clear the "checking" cases or follow up with the sources required to provide us with the relevant information.
To ensure efficient administration and compliance, a KPI summary has been generated to provide an overview of the Fund's performance for the week. This report highlights the Fund's strengths and areas that require more attention, giving a clear view of its position. By utilising this report, we can keep track of our progress and work towards achieving our goals in a compliant and timely manner. The report has also aided in identifying key statistics, which will be useful in forecasting for the future. In the words of Joe Wicks, we will "prep like a boss."
Quality data = happy, healthy pensions.
Work has been undertaken to investigate the quality of the data and find ways to pull the reports in the most streamlined, accurate way possible. An example of this is using Insights to generate reports, pulling the data directly from the source to avoid error and misinterpretation of figures.
- 22% reduction in outstanding backlog cases since January 2023
- 26% reduction of cases in "checking" since June 2023
- 88% of our high priority cases were completed on target in the past 3 months
- 95% of employers submitted on time in May via i-connect
Katy Hutchinson
Data, Performance and Reporting Lead
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