DTCC Connection

Apr 22, 2014 • DTCC Connection

DTCC Underwriting Enhances Client Communication and Response Process

by Joseph King


Ann Marie Bria, Director, Underwriting Product Manager

The Depository Trust & Clearing Corporation (DTCC) continually seeks out opportunities to raise the bar on the quality of the services it delivers to clients each day. On an annual basis, DTCC surveys clients across its business units to gauge how well the company is meeting client needs and identify ways in which it can further increase client satisfaction.

This week, in a continuing series focusing on DTCC’s client service efforts, Ann Marie Bria, Director, Underwriting Product Manager, sat down with @dtcc to talk about enhancements her team made to DTCC’s Underwriting product to address key areas identified by clients in the survey.

Q.   What did the survey results reveal regarding client satisfaction with DTCC’s Underwriting Product line?

A.     The overall feedback from clients was very positive. We scored an overall 96% satisfaction rating. We earned a 95% satisfaction rating for real-time problem resolution and commitment to quality, respectively.

Q.   Was there a common opportunity identified by clients in the survey related to DTCC’s Underwriting service?

A.     Consistently, we heard from clients that they wanted a more proactive approach to client communication.

 

Q.   What is your team doing to create a more proactive approach to communication and how will it benefit clients?

A.   DTC eligibility (see New Issue Eligibility) is a time sensitive process. We impose late fees if the required information for eligibility is not submitted within the proper timeframes and there could be financial/reputational issues for the issuer or underwriter if the predetermined closing date is delayed due to eligibility requirements not being met. To make sure our customers are fully aware of any potential issues that could preclude their issue from becoming DTC eligible by the closing date, and in response to our survey results, we implemented an email alert for municipal issues that are missing required data fields. This alert goes directly to the user that submitted the eligibility request four business days prior to the closing date.

Q.   What other steps did your team take?

A.   We also created an email distribution list of all current users of the Underwriting eligibility system, UW Source, to enable us to push out important information or alerts to our user group in a more timely and efficient manner.  This email distribution list will be used in conjunction with our current forms of communication, Important Notice publications, broadcast messages in UW Source and concerted efforts with Relationship Management, when we need to inform our users of important process or system changes as well as any other Underwriting specific communication.

Q.   Can you give us a preview of other projects you are working on?

A.   Underwriting is one of the few areas that maintain its own customer service hotlines.  This is due primarily to the fact that clients calling into the hotline are looking for assistance with a specific eligibility submission. As a result of the survey responses, Underwriting has re-evaluated the methodology in which calls are distributed to the team and has expanded representative availability to better manage the call volume.  Additional monitoring reports will be implemented to track call volume into the hotline.

Lastly, we are looking to add new features to the broadcast message in UW Source, such as the ability to include webpage links and the ability to copy the message and paste it into another document or email.

For more information:

DTCC Underwriting

UW Source

dtccdotcom