Transformation of the finance role for a banking entity
Context & Objectives
Our client is the IT subsidiary of a large bank. This subsidiary has undergone significant changes in its business model and role.
To support this evolution, our client wanted to transform its Finance role to adapt it to the new business model in terms of process, organisation and tools
The Client engaged a consultant to support them in setting up an efficient Finance department, through two components:
- Structuring of the Finance role according to the highest standards,
- Driving and promotion of lasting change.
Procedural approach
Phase 1 – Diagnosis
- Assessment of existing processes and identification of the main areas for development
Phase 2 – Definition of the Action Plan
- Development of a detailed action plan on each of the areas of development
- Definition of the target organisation
- Identification of quick wins.
Phase 3 – Implementation of the action plan
- Identification of process owners
- Establishment of a PMO
- Change management
Results
- Implement the optimised organisation in the Finance Department, both in regards to human resources and work organisation as well as IT processes and tools.
- Structure the Finance role activities, with the establishment of a management system for the CFO’s activities.
- Support for teams in skill development.
- Support for Finance department management in strengthening aspects of team management and leadership.