Change Management

Introduction

Change management is a systematic approach to dealing with the transition or transformation of an organisation’s goals, processes or technologies.

The purpose of change management is to implement strategies for effecting change, controlling change and helping people to adapt to change. Such strategies include having a structured procedure for requesting change, as well as mechanisms for responding to requests and following them up. Managing change requires moving the organisation from its current state to a future desired position.

At WEglobal we follow a results-oriented mindset by establishing clear goals and focusing on execution through predicting, measuring and managing the risks associated with change. We have a unique backup system for identifying, making and executing the most important decisions business processes.

SOME OF THE KEY AREAS THAT WE WORK IN IN RELATION TO THIS SECTOR INCLUDE:

Business Process Management

End-to-end process engineering expertise in all financial services areas
Process and organisational mapping, analysis, design and implementation experience
Focusing on improvements to service and control and expense reduction objectives
Expertise in process engineering toolsets and methodologies

Risk Management

Offering industry professionals with recent and extensive risk management experience
Management programmes and solutions to improve risk, compliance and control
Key control assessment, development, mapping and implementation
Tools to enhance organisation-wide risk performance

Integration Management

M&A assessment, design, organisational readiness and implementation support
Focusing on optimising integration strategy, operations and human capital to deliver shareholder value
Process, product, technical and physical/site integration and consolidation
Expertise gained through hundreds of integration projects over the last two decades and more

Agile Project Management

Professional, agile project management services, including an iterative approach to planning and guiding project processes
Meeting customers’ needs by considering market requirements in a professional manner
Working with experienced professionals who can support customers using high-tech project management software
Internalising PMI standards and adopting an agile approach to project management

Areas of Focus

End-to-end, large-scale and targeted process engineering expertise combined with industry/functional expertise
Process and organisational mapping, modelling, analysis, design, implementation and control
Process improvements focusing on service enhancements, control/governance frameworks and expense reduction objectives
Process engineering methodologies, including Six Sigma and Hammer, using tools such as Visio and ARIS

Business process management and key control mapping
Risk/compliance artefact discovery and process map linkage
Governance, automation of risk and control workflow
Key control test development/validation
Key control sampling plan development/validation
Business as usual monitoring, testing & remediation
Risk, compliance, audit and control consultants with industry experience
Test script development, implementation
Partnerships with risk management training and business intelligence firms

M&A assessment, design, organisational readiness and implementation support
Process, product, technical and physical/site integration and consolidation
Business combination/ consolidations
Systems integrations
Stakeholder adoption and management programmes
Associate-readiness programmes
Customer care programmes
Comprehensive tools to guide and support merging or integrating companies through the entire process
Change and project management expertise
Organisation design and restructuring
IT Infrastructure design and evolution

Professional project managers with expertise in financial services and other industries
All levels of programme and project managers adept at leading and managing multiple, integrated programmes and projects
People, process, product and IT expertise leveraged in all phases of the project lifecycle from initial assessment through to closure
Experience in the use and customisation of the Project Management Institute’s PMP, Lean and Six Sigma, Hammer and other process and project methodologies
Expertise at all levels, from analysts through to senior roles, operating in teams or as individual contributors, with the ability to manage and support change initiatives of any size

Our completed and ongoing projects falling under change management include:

Working with the management of an international wealth management company to develop and implement an enterprise-wide transformation strategy.
Working with one of the largest banking organisations in the world to design and implement a scalable, centralised, global reconciliation utility to significantly reduce costs and operational risk.
Working with a major US banking client to develop and implement an integration strategy for multiple large scale acquisitions, incorporating best practice change management disciplines into each new M&A event.
Partnering with an investment company client to conduct an enterprise-wide organisational readiness assessment that led to significant improvement in the company’s performance in managing large-scale, complex transformation programmes.

Under the framework of these projects, we have:

Under these projects we have managed and supported hundreds of change management initiatives over the last 25+ years, training thousands of client associates and testing hundreds of system applications.

A flagship project in the filed of change management

Project Name	Global Reconciliation Initiative
Country	Multi
Dates	2014 – 2016

BD Consulting partnered with our client to design and establish a scalable, centralised, global reconciliation utility for accurate, timely and cost effective reconciliation processing of all banking transactions falling within the scope of the organisation.

This project encompassed more than 50 different reconciliation functions and nearly 500,000 balance sheet and sub-ledger accounts that needed to be reconciled world-wide.

As part of the consolidation effort, the whole system was completely rationalised, considerably streamlining the number of functions and accounts.

The results of this programme included:

a standardised operating model and global utility
a risk identification and monitoring process (based on best practice)
role definition and accountability at all levels in the organisation
approved policies and procedures documented and in place
streamlined charts of accounts
significant cost savings and improvement of operating controls