The Situation

My client was part of a tier 1 European banking group offering a full range of Corporate Banking products in the UK.

The bank’s objective was to transform the Target Operating Model (TOM), and the underlying IT platforms, for all its very extensive catalogue of products.

The bank had hired a big four consultancy to design its new operating model (TOM) which was to be implemented in all of the bank’s operations worldwide. The UK was to be the second country in this transformation exercise.

The Task

My overall objective was to implement the new target operating model (TOM) which was being defined in a generic form in the bank’s Head Office.

I was the Programme Manager for the UK bank to enable the various businesses in the UK to tailor the operating model to fit the bank in the UK and its local market.

I also liaised with Head Office in continental Europe to feed those changes back so as to enhance the TOM for subsequent banking entities in the global roll-out.

The Action / Approach

My remit included managing the project steams and coaching the change leads in the businesses in order for them to implement the TOM. The detail of the transformation was overseen by a steering committee in London. I put in place a governance model including the local CEO, COO, CTO and CFO.

I managed the implementation of the new TOM by the Operations teams in the UK businesses, working day to day with the COO in London to focus on the changes to Operations.

I liaised with two other senior interims who had been hired to focus on the IT aspects. Additional resource was provided by a niche German consultancy who focussed on the detail of process mapping and training.

I also spent a day each week in the bank’s European HQ working with the TOM designers to refine the process and organisation designs.

The Result

Value was delivered by;

Over the course of two years the TOM was successfully implemented across all of the UK businesses. This also involved the roll-out of enabling systems consistent with the bank’s IT roadmap.

The benefits to the bank arose from standardisation of business processes and IT architecture for each of its businesses. This enabled the reduction in overall costs and the implementation of best practices across the group. Also it enabled the bank to follow a consistent roadmap for the enhancement of processes and IT globally.

Focus In On: Responsible for Project and Programme Delivery

New Areas of Value:

Higher proportion of projects fit for purpose, on time and on budget

Ability to clearly demonstrate value to the business

Increased credibility with and confidence from across the business

Higher delivery efficiency and effectiveness from clarity around process performance

Improved customer and colleague service and satisfaction

Greater acceptance of change – quicker to implement new changes

Better support of business directives

Improved project estimation and delivery capability (right first time)

Validation of the IT change strategy

Greater financial control and predictability in delivery

Improvements around:

Disruption from business restructure or reprioritisations

Poor project/portfolio pipeline planning and estimation process

Weak project prioritisation, approval, compliance and sponsorship

Lack of clarity or understanding on operational readiness requirements

Relevant Business Perspectives

Practice