Language:
Financial Analysis and Organisational Design
Financial Analysis and Organisational Design
Description of Project
Our client, a major retail bank, embarked on a major programme of change in 2009. The drivers behind the programme were to fulfil its commitment to the Government to achieve full operational separation due to an injection of public funds as well as ensuring compliance with new regulations.
Chaucer’s involvement spanned fourteen months and three major projects. Chaucer provided leadership and support to support separation of the bank into two legal entities:
- Business Operational Delivery Programme
Delivery of operational and associated IT changes to enable the split of the Bank, and New Lending and Retail Deposits growth (2009) - People & Organisation Workstream
- Legal & Capital Bank Restructure (2009)
- Restructure and merger of newly created Banks to enable full operational separation (2010)
Chaucer’s Scope
- Identify and establish pragmatic project management tools
- Providing support to capacity planning for the various TOM capabilities
- Identifying all the operating costs of sales and service across the business currently
- Working through the cost impacts of the TOM recommendations
- Coordinating the work around business case production - collating investment costs and quantifying cost savings
- FSA Approved Day-1 Org Design (NR & NRAM; Shared Service Model)
- Deployment Strategy (documentation design and process) to the Day-1 Structure
- Executive Readiness Workshops (OD, Service Framework, Governance)
- Developing fit for purpose organisation structures (DMA Methodology: 5 levels, 6 tiers, average span of control of 7) which align to the Target Operating Model and deliver targeted savings and improved effectiveness through delayering, simplification and rationalisation
- Facilitating a wide range of line and HR stakeholders through a structured organisation design process
- Ensuring all savings and exit costs are accurately reflected through the financial model
- Documenting job descriptions detailing purpose, accountabilities and person specifications using Skills and Behaviours Frameworks
Benefits
- Total addressable cost figure for the Savings & Current Account operation of £34.91m (786 FTE)
- 20 – 30% pa staff productivity savings from the Savings and Current Account TOM
- Met tight deadline to deploy Executive & Senior Team to the Day 1 structure in preparation for the Legal & Capital split
- Job descriptions for the Executive Team (for FSA inspection)
- Audit trail of organisational implementation (for FSA inspection)
- Facilitation of key meetings with Executive & Senior Team
- Fit for purpose organisational structures for Operations and Customer Service (including financial model)
- c.20% headcount reduction in 2010 ahead of separation
- Accreditations/Partners
