SLC Strategic Development Programme: a 5-year view

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Clyde Henderson
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1 Student Loans Company SLC Strategic Development Programme: a 5-year view Presenter: David Wallace Department: Deputy Chief Executive Date: 26 March

2 Overview Pace of change Nature of change What it means for SLC How we re responding Q & A

3 Change? What change? Image source: The Staffordshire University Computing Futures Museum Malvern Page

4 Question After netting off the growing repayments stream, how big do you think the HE ICR loan book will be by 2050? Answer 1: about 100bn Answer 2: about 150bn Answer 3: about 200bn Answer 4: about 300bn Answer 5: more than 300bn Helpful hint: it s about 69bn at the moment Source: David Willetts answer to PQ18 June 2014

Answer 1: about 100bn Answer 2: about 150bn Answer 3: about 200bn Answer 4:

5 How did we get here?

6 A changing delivery environment SLC is a significant delivery partner for HE and FE Over the past 25 years HE activity has moved from a minority to a mass system Recommendations from the programme of HE Reforms mean that since 2012, we manage increasing customer and transaction volumes Growth of alternative HE providers and the initial introduction of loans for Further Education in England have further increased the number and type of customers we serve Introduction of Post Graduate Loans will add to this customer base Customers and their demands are becoming more sophisticated, complex and varied Use of digital services, tablets and smart phones becomes more prevalent Our student finance offering must keep pace with these changing customer needs

Education in England have further increased the number and type of customers we serve Introduction of Post Graduate Loans will add to this customer base Customers and their demands are

7 SLC in four pictures 1 2 Customer service: accessibility, accuracy, responsiveness, security, Administration: scalability, efficiency, security, performance 3 4 Change management: Policy complexity, new products, changed rules Managing public money: Financial sustainability, yield, non-performing debt

security, performance 3 4 Change management: Policy complexity, new

8 Where Next? Policy requirements (even) more challenging: BIS and Devolved Administration HE and FE policy continues to diverge General Election and Elections in each of the Devolved Administrations in 2016 may bring further change for policy, product and service delivery Rapid and competing policy demands from BIS and the Devolved Administrations mean that we need to be more flexible able to: change and adapt deliver a more complex and higher value product set to an increasing, and diverse, group of customers and stakeholders

and Elections in each of the Devolved Administrations in 2016 may bring further change for policy, product and service delivery

9 Where Next? Policy delivery under intense scrutiny: Focus on Repayments and expected continued scrutiny in this area: loan book size increasing and now a significant national asset further debt sales likely in future Management and administration of Alternative Providers will continue to come under public scrutiny following the recent National Audit Office (NAO) review and subsequent Public Accounts Committee hearings

loan book size increasing and now a significant national asset further debt sales likely in future

10 How are we responding? A clear direction Vision and Mission the touchstone for our plans and priorities Our Vision is to be valued as a digital, customer-focused centre of excellence Our Mission is to enable our customers to invest in their futures by delivering secure, accurate and efficient assessment, payment and repayment services

Our Vision is to be valued as a digital, customer-focused centre of excellence Our

11 with defined outcomes Digital 1. all products available on-line and accessible via multiple platforms 2. end-to-end services for all products available on-line with customers able to track progress throughout 3. digital services the preferred, default channel of choice of customer

end-to-end services for all products available on-line with customers

12 with defined outcomes Customer Focused 1. improve customer satisfaction and experience for students, sponsors and graduates: (Define/Benchmark/Meet) 2. fully embed user experience customer involvement in continuous improvement and development of services, products and systems 3. develop and build a workforce with the right skills and capabilities to enable them to deliver customer focused services

13 with defined outcomes Centre of Excellence 1. design and build new products and services which meet customer needs or on-board existing products 2. create a platform for expansion of services 3. operate apply, assess, pay and repay as a centre of excellence 4. improve the operational efficiency of the organisation 5. increase the value of the loan book

existing products 2. create a platform for expansion of services 3.

14 a coherent planning framework Medium Term Planning Corporate Plan contains the medium term strategic objectives covering the period FY to FY The plan: Sets out what we will do to achieve our Vision of being valued as a Digital, Customer Focused, Centre of Excellence; Places our Transformation Programme and supporting plans and strategies as the means by which we will achieve our Vision; and Contributes to the delivery of key strategic policy priorities and objectives of our Government sponsors

The plan: Sets out what we will do to achieve our Vision of being valued as a Digital, Customer Focused, Centre of Excellence;

15 a coherent planning framework In-year planning supports the Corporate Plan medium term objectives by ensuring all we do contributes toward these and: Moves us forward towards achieving our Vision Ensures we remain focused on our core business which support delivery of the Mission Contains key enabling activity to manage public money and manage our people

achieving our Vision Ensures we remain focused on our core business which support

16 and a robust Target Operating Model Organisational change New SLC Target Operating Model (TOM) makes a number of commitments that will change how SLC operates as a company Defines how we manage our business and how we organise our People, Processes and Technology to operate effectively and deliver a better, more digital experience for our customers, partners and stakeholders Organised according to customer focus four services aligned to our customer groups: HE, FE, Repay and HE / FE Partners with digital service teams aligned to these

operate effectively and deliver a better, more digital experience for our customers, partners and stakeholders Organised according to

17 Summary Continued HE political turbulence UK (and elsewhere) Exceptionally challenging programme ahead Internal pressures won t wait Time, money and resource tighter than ever Need to get the maximum from what we have No margins have to get it right Reasons to be cheerful achievements to date

Time, money and resource tighter than ever Need to get the maximum from

18 David Wallace Deputy Chief Executive

Corporate and Business Plan

Student Loans Company Corporate and Business Plan FY15-16 to FY17-18 01. CHAIRMAN S STATEMENT & CHIEF EXECUTIVE FOREWORD PAGE 4 04. OUR THREE YEAR CORPORATE PLAN PAGE 16 02. EXECUTIVE SUMMARY PAGE 8 03.