A major financial institution approached BottomLine Group with a critical challenge: to oversee all aspects of change management during the implementation of an enterprise-wide regulatory compliance program. As part of this challenge, our team would be required to develop and execute a plan that would support the implementation across the various lines of business.
Our risk management team took a quick read on the progress to date, and determined where gaps existed with the current implementation. A stakeholder analysis then identified additional areas of risk to the overall program. A resulting change management plan was developed, including appropriate communications to impacted business groups. Training was developed based on the stakeholder feedback. Additionally, roles and responsibilities were ‘sharpened’ across all impacted areas.
The project was a “win” across all business groups at the financial institution. The enhanced regulatory compliance management program is now not only better positioned to implement change, but also:
‘De-risked’ implementation timelines
Improved program governance at all levels
Better allocated resources across prioritized tasks