The question asked by many companies is “How can we gain organic, sustainable growth?” So many companies are on a roller-coaster ride of sales targets, profit reports, staff attrition and reputation management, it is hard for them to identify their core values or a true direction.
No one person has all the answers, and no external adviser has the experiences that firm has in their specific market, but working together, using a simple methodology, we can identify their strategy and apply the risk framework to provide them with sustainable development and organic growth, getting the edge over their competition. Starting with identification of objectives in both financial and non-financial, determining stakeholders and their impact, we can soon identify the true direction that the company should take. Once this breakthrough is made and recorded, we can work on both the internal processes and the resources (required learning and development) including outsourced and insourced functions.
We would consider the
- Mission & Vision Statements
- Strategy Map Module 1 (Outcomes – Financial and Non-Financial)
- This provides the company values and direction.
- Strategy Map Module 2 (Stakeholder Impact)
- Who, what, where and how – do we need them? Are they too intrusive or not connected enough?
- Strategy Map Module 3 – Review
- What are our Mission, Vision, Values statements? What are our strategic objectives and why?
- Strategy Map Module 4 (Internal Processes)
- Are we doing the same thing and expecting different results? Are there better ways?
- Strategy Map Module 5 (Resource/Learning & Development)
- Who, what, when, succession planning, grooming/mentors. Are our current methods supportive? Helpful?
- Strategy Map Overview
- Tying it all together. What does good look like? and How can we make it more effective?
- Assess Risk Framework & Appetites
- Are they conducive? Supportive? Realistic?
- Apply Conduct Risk Element
- Discussion on Level 3 Risk Keyword/s, Risk, Risk Event Descriptions and Potential Mitigating Actions.
- The importance of conducting Risk & Control Self/3rd Party Assessment
- Discuss the format and operation of an annual Tactical Risk Profiling (TRP) exercise to review and revise the plans as required.
- What, How and where.
- Constructing financial and non-financial objectives.
- Ensuring that the right people are onboard and they are in the right positions.
- Identification of redundant or ineffective internal processes.
- Clarification around who, how and when existing staff can add value to the ideals and direction of the company now and in the future.
- The best ways to not only deliver the product or service but also to also add a value to the performance.
- How to apply Conduct Risk View to your existing framework.
- Using Risk Appetite as a supporting element to strategy.
- Evaluating and assessing controls and their effectiveness.
- Why an annual review exercise is imperative to the company’s success.
Topics covered include:
- Balanced Scorecard Strategy Mapping.
- Balanced Scorecard Dashboards.
- Operational Risk Framework review.
- Strategy definition for individual firms.
- Vision Statement.
- Mission Statement.
- Values and ideals.
- Goals and direction finding.
- Risk Appetite definition.
- Applying Conduct Risk overlay to existing risk framework.
- Risk & Control Self-Assessment.
- Annual Assessment and forecast preparation for Senior Management (Tactical Risk Profiling).
Who will Benefit:
All professionals who want to expand their knowledge in strategy planning and execution, specifically regulated financial services firms who are likely to be caught under the new FCA/PRA Senior Management Regime. Additionally anyone who has identified or is working on needs to address strategy implementation issues within their company as well as other business and financial professionals who want to understand how to objectivize non-financial targets within their strategies.
- Financial institution compliance
- Training department
- Business Banking.
- Business Lending
- Human Resources
- Third party hiring consultancies
- Financial Advisors
- Capital Markets
- Senior-level bankers (managing director level and higher)
- Business planners / Strategists.
- Business Execution Professionals.
- Insurance companies
- Central Banks
- Investment Banks
- Commercial Banks
- Pension funds / Hedge funds
- Leasing companies
- Fund managers