Financial Services Practice

Delivering Mandatory Change

Organisations worldwide face an ever-increasing array of rules and regulations with which they must comply. Investment in compliance is typically seen as cost of doing business with no positive benefit on the bottom line and during the period of implementation, compliance can be disruptive and demoralising for the organisation as a whole. Too often, mandatory change programmes are incepted late and fail to engage the key stakeholders in delivering the changes.

PIPC’s approach to delivering Mandatory Change programmes starts by bringing the Risk, Compliance, Audit and business/technology groups together at the outset. This ensures that the change is seen as business-wide in its impact and importance, rather than polarised within the Risk and Compliance functions. In addition, mandatory change programmes must be run as other change initiatives; with clear business cases and benefits plans, to ensure that robust programme management disciplines are employed. Our experience has been that whilst addressing the Regulatory requirements, often significant business and customer benefit can be delivered if an inclusive, collaborative approach is taken to stakeholder management. PIPC has successfully delivered Mandatory Change programmes with Barclays, ING, L&G and Westpac.