Barclays – Absa Fiduciary: Leading Effective Change Management

Introduction

As the Head of Change at Barclays – Absa Fiduciary. In this executive role, I was entrusted with the complete responsibility for leading change across a cluster of three companies, encompassing over 1,000 employees. My mandate included setting the strategic roadmap and direction for change, initiating change programs and projects, and managing all change activities spanning people, processes, and technology. Additionally, I was responsible for establishing the necessary forums, structures, governance, processes, and procedures to assess, prioritize, manage, and control risks related to change.

The Challenge

The primary challenge was to create a cohesive change management framework that could drive strategic initiatives across multiple entities within the cluster. This required the development and implementation of a comprehensive governance framework, the establishment of change forums, and the consolidation of the change portfolio to focus on key strategic initiatives. The goal was to reduce risk exposure, achieve stakeholder buy-in, and ensure that change efforts were aligned with the organization’s strategic objectives.

Objectives and Strategy

To achieve these goals, I developed and implemented a new change and PMO governance framework that introduced necessary controls to reduce risk exposure. Establishing various change forums for Exco, Business, and Architecture was essential to create transparency and empower business units to take ownership of change initiatives. By producing a monthly Change Portfolio pack, I provided Exco with total visibility of all change activities, including risk exposure, financial reporting, and progress updates. Standardizing project management templates and methodologies across teams ensured consistency and efficiency, while the Strategic Roadmap for Change document outlined the key focus areas for 2012. Furthermore, I consolidated the change portfolio from over 40 projects to under 10 key strategic initiatives, ensuring a more focused and effective approach to change management.

Implementation

The project was executed with a strong focus on stakeholder engagement and rigorous governance. I developed and implemented a new change and PMO governance framework, introducing controls that significantly reduced risk exposure. Various change forums were established, creating transparency and empowering business units to take ownership of change initiatives. The monthly Change Portfolio pack provided Exco with comprehensive visibility of all change activities, enabling informed decision-making.

By standardizing project management templates and methodologies, I ensured consistency and improved efficiency across teams. The Strategic Roadmap for Change document provided a clear focus for 2012, aligning change initiatives with the organization’s strategic objectives. Additionally, I consolidated the change portfolio, reducing the number of projects from over 40 to under 10 key strategic initiatives, ensuring a more focused and effective approach to change management.

Results and Benefits

The implementation of the new change and PMO governance framework was a significant achievement, garnering positive buy-in from all stakeholders and reducing risk exposure. The establishment of various change forums facilitated better prioritization and management of the change portfolio, while the monthly Change Portfolio pack provided Exco with critical insights into risk exposure, financial status, and progress.

The consolidation of the change portfolio to focus on under 10 key strategic initiatives streamlined efforts and ensured alignment with the strategic roadmap. This rationalization resulted in more effective resource allocation and enhanced the overall impact of change initiatives across the cluster.

Conclusion

The successful establishment of a robust change management framework at Barclays – Absa Fiduciary not only met but exceeded expectations. By driving strategic initiatives, improving governance, and ensuring stakeholder engagement, the change management efforts significantly enhanced operational efficiency and aligned change activities with organizational objectives. This comprehensive approach to change management positioned Barclays – Absa Fiduciary for continued success and growth.