Change is a constant in the banking industry, with pressures coming from both internal and external directions.
Within the organization, you’re looking to launch new products and services that align with customers evolving needs (and next-generation technology that unlocks new capabilities for your bank to boost revenue in today’s low-rate environment). You’re also responsible for keeping up with regulatory requirements, particularly with looming expectations that post-pandemic regulatory scrutiny is on the way.
In any scenario, even the smallest adjustment can have a downstream impact. But when you launch change management with a framework deeply rooted in the best risk management practices, you’re starting from a position of strength in protecting your customers, your reputation and your bottom line. The cornerstone of that framework is developing a culture where every employee has a role in identifying, managing and mitigating risk.
During a recent Spinnaker Consulting Group webinar on “Creating a Risk-Aware Culture that Readies your Organization for Change,” I offered lessons learned from working in the financial services industry in a variety of first- and second-line risk roles, where I witnessed how a risk-aware culture can turn risk management into a competitive advantage for an organization.
Joining me to share the in-house banking perspective was Roland Brooks, senior vice president and deputy enterprise risk management director at Huntington National Bank; he’s got his hand in numerous enterprise risk areas – from helping establish risk governance frameworks to managing reputational risk and supporting new products and services. In more than 25 years with Huntington, this one-time accountant has worked in first-line risk and every major operational area of the bank.
Some highlights of our discussion included:
The information shared in this digital event can help you arrive at the right risk framework for your business and ultimately empower a change management approach that allows you to respond nimbly, strategically and accurately to internal or external opportunities and pressure. Download your copy and listen now.
As a big football fan, the mantra – from coaches and sports analysts alike – of how the defense protects your house and ultimately wins games has been imprinted upon me.
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Banks, of course, are in the money business. But banks are also in the change management business.
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Change is about the only constant in banking today. Inside the organization, you’re processing a steady stream of requests for new products or customer services. Coming from the outside are regulatory updates and unpredicted pressures, such as the COVID-19 pandemic.
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