SEB Shared Service Center (SSC) in Riga, Latvia (legal name Skandinaviska Enskilda Banken AB Riga Branch) is a part of the SEB Group. A North European financial group, SEB has 400,000 corporate customers and institutions and four million private customers. Established in 2006, SEB SSC in Riga provides services for the SEB Group customers and business divisions in 10 sites around the world. The Center offers a wide range of services, including payments operations and cash management support as well as services related to trading products. The Center also serves international banks and global financial institutions with services in transactions settlement and asset servicing of Nordic securities trades.

In May 2016, the Center celebrated its 10th anniversary.  Over the years the Center has grown to 370 employees working to support all Group’s sites – starting from Nordic countries to Singapore and the USA. The company’s Riga Center added 80 new employees to its team in 2016, including many young and talented graduates and undergraduates from different Latvian universities. Most recently, in 2013, SEB group established Shared Control Center within the Center adding to its list of services risk reporting and monitoring in accordance with regulations and internal requirements. SSC plans to create over 50 new jobs in 2017 and to further expand the range of services it provides.  Continuous improvement is a way of working and strategy of SSC. The Center focusses not only on processes, business strategy and the results, but also on daily tasks, time management, effectiveness, communication and behavior – everyday details that affect employee´s daily work and gives better results for the customer. Customer satisfaction level is important criteria for the Center.

The convenient geographical location, the availability of talent pool, the possibility for future growth as well as the fact that SEB already had a presence in Latvia, were the main reasons for establishing SSC. Rūta Jasiulionienė, Head of SEB Shared Service Centers in Riga, Latvia and Vilnius, Lithuania, notes, “Implemented lean methodology tools encourage a culture of continuous improvement and operational excellence, and contribute to cost efficiency following SEB group business case. This is the way of working and strategy of the SEB Shared Service Center in Riga – we believe that with talented employees and well established infrastructure we are on the right way.”