Global Bank Drives High-Risk Regulatory Changes With Prosci

The global financial industry is an environment filled with red tape and complex requirements. A large Global Bank recognized the need to enhance their change management capabilities to better manage their regulatory realities and be better prepared to face internal transformations. Through a collaborative engagement with Prosci, the Global Bank successfully embedded change management practices across the organization, allowing them to better navigate opportunities as they arose, regulations and all.

Challenge

The Global Bank faced significant challenges in their change management processes, which were heightened because of the strict regulatory environment and the vast scale of organizational changes required. Historically, the Bank had focused efforts on technical changes—such as change control and governance—but often overlooked the people side of change. This disconnect resulted in a fragmented understanding of change and resistance across key departments in the organization.

Further, the Bank’s leadership was so focused on satisfying regulatory bodies, they often viewed change management as a secondary concern. This mindset created additional hurdles in achieving commitment from senior leaders and fostering a unified change management culture across the institution. The need for a cohesive, organization-wide approach became apparent, which is where Prosci stepped in to help.

Solution

Design, develop and deploy an Enterprise Change Management Office (ECMO)
Build internal change management capabilities
Establish a community of practice
Leverage Prosci Organizational Change Competency License
Facilitate strategic workshops and practical demonstrations

Establishing a Dedicated Change Management Office

To change the focus from the technical aspects of change to the people side of change, Prosci helped the Global Bank establish an ECMO. Prosci worked closely with various client teams across different business units, to connect and build internal change management capabilities.

Building Internal Capabilities Through Certification Programs

Prosci delivered multiple programs to train internal change practitioners, providing them with the necessary tools and methodology to drive effective change initiatives. This training was critical in creating a common language around change management, specifically through the adoption of the Prosci ADKAR® Model. By the end of the engagement, Prosci certified approximately 100 practitioners through five rigorous programs, which included international participants from the U.K. and beyond.

Implementing Strategic Tools and Workshops

The Global Bank leveraged Prosci's various tools and resources including the Organizational Change Competency License. This license allowed the Bank to integrate change management learning into their Learning Management System (LMS), which helped them reach a broader internal audience. Additionally, short workshops and practical demonstrations helped illuminate the value of the people side of change in real time, further embedding change management practices within the organization's culture.

Results

Enhanced Change Management Maturity

As a result of the structured approach and extensive training provided by Prosci, the Global Bank significantly enhanced its change management maturity. Establishing the ECMO and providing certification for numerous practitioners also laid the much-needed groundwork for sustained change capabilities across the organization.

Increased Engagement and Commitment

The grassroots energy from Prosci's initiatives led to increased engagement at multiple levels across the organization. Building out their community of practice and facilitating regular interactions helped create a shift in mindset where change management is now viewed as a valuable part of the organization rather than an imposition.

Successful Implementation of Change Initiatives

The client successfully navigated several key change initiatives, including the implementation of a cloud-based reporting and compliance tool for developing enterprise-wide quarterly progress reports. Transitioning from traditional methods to the tool required building awareness and desire among employees, which was achieved through our ADKAR Model and facilitated workshops.

Clear Return on Investment (ROI)

Projects that had previously struggled due to lack of adoption saw a renewed rate of success after the Prosci engagement. The Global Bank’s enhanced focus on people and their transition through change resulted in the consistent, timely, and sustainable delivery of projects and a positive ROI.