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Case Study

Implementing change for UK-based Global Asset Manager

The client

UK Based Global Asset Manager

The work

Our Client engaged us at short notice because of staff changes, to identify an experienced Change Manager with an Asset Management background, to take stock of their overall change process, advance it to the next level and move the Client’s change agenda forward.

How we helped

We engaged with senior stakeholders to define the requirements into (1) a skill set requirement map which would deliver and (2) an agenda of deliverables. At a high level, this consisted of a mixture of managing regulatory projects including MiFID2 and PRIIPs, as well as increasing the bench-strength of Business Administration Reporting.

The regulatory projects succeeded by breaking down the substantial volume of requirements into logical workstreams. Regular meetings
were held involving detailed planning beforehand, developing and allocating robust actions fairly, and rigorous stakeholder engagement prior to reporting to the Steering Committee. Workstreams actions were drawn from MiFID guidelines and included, amongst other requirements, Costs and Charges, Governance, Policies and Procedures and Inducements.

Key stakeholders were satisfied that Critical Success Criteria were met and that a clear roadmap had been provided for the Client to complete the remaining improvements.

Business Administration Reporting was an exercise in evolving an ad-hoc change reporting activity into a formal monthly process designed to capture all forms of Change across the Company. This included department-led initiatives, leading to a transparent set of individual project updates, with verbal updates as necessary at Business Administration Committee meetings. The reporting drew out key themes to assist Senior Management in evolving the Client’s Risk Appetite, and
enhancing its Risk Culture. Extracts from this Administration Committees reporting are now used for supplying updates to other Committees e.g. audit as well as Fund Boards.

Value added

By engaging with different levels within the Client organisation, the efficiency of transitioning major programmes from vision to planning, Client approval and implementation was vastly increased.

Recommending that the majority of the projects headcount requirements were resourced from the business, the Client benefited with substantial cost savings. By only supplying expert consultants to guide the Client staff, the post-live transition to business as usual was also made more effective.

Strengthening the Business Administration Committee provided the Client with a scalable platform for managing Corporate Change, and offering improved Governance and transparency across the organisation.

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