What do we do?
Using proven human factors techniques we will review any service, procedure or process within your organisation, and pinpoint the vulnerabilities associated with human interaction. Using probability modelling we can simulate the likelihood and type of failure that could contribute to a major incident. If your business involves people interacting with processes that have the potential for unintended consequences, human factors should form a core part of your risk management strategy.
Our Human Assurance Programme
IHF will assess a service, system or process which is either planned or already in place. We can assess the likelihood of a failure as a result of an interaction between a person and that system (i.e. human error), using a 4-stage process:
Stage 1 - Investigation
What begin the task analysis by working with your team to understand what they do, whether they feel they're doing everything correctly and any barriers or concerns they have.
Stage 2 - Probability Modelling
What is the probability of such errors occurring? We will use statistical modelling to predict the likelihood of one or more incidents.
Stage 3 - Assessment
What performance influencing factors may influence probability? This may include time pressure, stress, poor working environment, pressure to hit targets.
Stage 4 - Recommendations
How can the identified human errors be prevented? We will provide recommendations and redesigns which, if implemented, will reduce the likelihood of human error.
Want to know more? Click the chat icon in the bottom-right corner and book a 15-minute appointment.
What areas will we assess?
Any system or process which involves human interaction can be assessed, including:
- The selling of mortgages, loans or credit cards. For example, there may be a risk of unauthorised sales, mis-selling of products or unintended customer misinformation.
- Your processes for manual screening of transactions, for example where a possible fraudulent transaction is flagged.
- Socio-technical systems, where there is a risk of honest mistake. This includes mistaken data input, processing errors, inaccuracy or negligence. One example would be an employee that accidentally adds an extra zero onto the end of a bank transfer.
What are the benefits to your organisation?
You can expect to see tangible improvements across a number of areas, including:
Improvements across your balance scorecard
Less significant impact from incidents and regulatory enforcements
Improved efficiency and greater value from strategic transformation programmes
Get in touch today
One of our human factors associates will be on hand to learn about your business and see if we can help.
Be a leader in human assurance
Banking is the second most regulated sector in the UK, after nuclear energy. There are 10 different watchdogs and numerous standards of care yet, unlike the nuclear industry, or aviation, or healthcare, banking doesn’t invest heavily in human assurance. But the tide is changing.
Chartered by the Institute of Ergonomics and Human Factors (IEHF) Neil has a wealth of experience in a number of sectors including; Rail, Aviation, Finance, Healthcare and Energy. A published author, seasoned public speaker and multi-award winner his abilities to engage, educated and inspire audiences, coworkers and clients is unique. In the banking and finance sector, Neil has previously worked with RBS to assist in the integration of a new CRM system. The aim of the project was to assess the new system's usability, impact on customer service and the risk level of downtime or reliability issues.
"Humans are the most valuable elements of any organisation as well as the most vulnerable."
Human Factors in Finance Lead
Nick has over 18 years of experience working at a major UK bank, where he helped deliver innovative customer solutions, and achieve commercial value through business transformation. Using his knowledge of human factors, Nik's aim at IHF is to bring the benefits of proven human risk management strategies to the banking and finance industry.
"Human factors must form a key part of any financial institution's balance score sheet."