This paper introduces the notion of public collaborative processes (PCPs)to the field of Business Process Management (BPM) . PCPs involve URLanizations with a common objective, where a number of URLanizations cooperating under various unstructured forms  take a collaborative approach to reaching the final goal. This paper exemplifies the analysis of PCPs with the case of safeguarding financial stability, particularly macroprudential oversight in Europe. Following the literature on BPM, this paper models the macroprudential oversight process as an event-driven process chain, including activities, responsible entities, as well as inputs and outputs. We view the process from two directions. As an initial step, we document a high-level representation of the process (i.e., without specifying responsible entities) as depicted in the literature. Moreover, we show the increase in complexity when moving to a low-level description of the process (i.e., specifying responsible entities). Along these lines, we put forward a matrix view consisting of five necessary steps to managing PCPs. Thus, in terms of managing the macroprudential oversight process, this motivates further work in collaboration with experts to document, analyze and improve the macroprudential oversight process at a more detailed level .
The 2007--2008 financial crisis has paved the way for the use of macroprudential policies in supervising the financial system as a whole. This paper views macroprudential oversight in Europe as a process, a sequence of activities with the ultimate aim of safeguarding financial stability. To conceptualize a process in this context, we introduce the notion of a public collaborative process (PCP) . PCPs involve URLanizations with a common objective, where a number of URLanizations cooperate under various unstructured forms and take a collaborative approach to reaching the final goal. We argue that PCPs can and should essentially be managed using the tools and practices common for business processes. To this end, we conduct an assessment of process readiness for macroprudential oversight in Europe. Based upon interviews with key European policymakers and supervisors, we provide an analysis model to assess the maturity of five process enablers for macroprudential oversight. With the results of our analysis, we give clear recommendations on the areas that need further attention when macroprudential oversight is being developed, in addition to providing a general purpose framework for monitoring the impact of improvement efforts .
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This paper introduces the notion of public collaborative processes (PCPs)to the field of Business Process Management (BPM)
The 2007--2008 financial crisis has paved the way for the use of macroprudential policies in supervising the financial system as a whole. This paper views macroprudential oversight in Europe as a process, a sequence of activities with the ultimate aim of safeguarding financial stability. To conceptualize a process in this context, we introduce the notion of a public collaborative process (PCP)
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This paper exemplifies the analysis of PCPs with the case of safeguarding financial stability, particularly macroprudential oversight in Europe. Following the literature on BPM, this paper models the macroprudential oversight process as an event-driven process chain, including activities, responsible entities, as well as inputs and outputs. We view the process from two directions. As an initial step, we document a high-level representation of the process (i.e., without specifying responsible entities) as depicted in the literature. Moreover, we show the increase in complexity when moving to a low-level description of the process (i.e., specifying responsible entities). Along these lines, we put forward a matrix view consisting of five necessary steps to managing PCPs. Thus, in terms of managing the macroprudential oversight process, this motivates further work in collaboration with experts to document, analyze and improve the macroprudential oversight process at a more detailed level
We argue that PCPs can and should essentially be managed using the tools and practices common for business processes. To this end, we conduct an assessment of process readiness for macroprudential oversight in Europe. Based upon interviews with key European policymakers and supervisors, we provide an analysis model to assess the maturity of five process enablers for macroprudential oversight. With the results of our analysis, we give clear recommendations on the areas that need further attention when macroprudential oversight is being developed, in addition to providing a general purpose framework for monitoring the impact of improvement efforts