Financial Crime Division transition to Ways of Working

Australian tier 1 bank with over 10 million customers and 35,000 employees globally

Highlights

Waste cost reduction of $20m

Velocity increase of 10%

Predictability improved by 50%+

500+ people educated in ways of working

Background

The Financial Crime capability in any financial services organisation is critical to the safety for it’s customers. For our client, the Financial Crime area comprised of technology delivery, compliance & regulation, and solution ideation for managing and halting illegal activities, with the mission to protect all of its customers.

Opportunity

Improve the ability for 500+ people to respond and adapt to an ever changing, challenging, and complex financial crime landscape.

What We Did

To kick things off, we educated the teams & leadership on the enterprise ways of working, place an emphasis on the ‘Why’, and the translation into roles & responsibilities, process, and tools.
At the same time we embedded ourselves with the leadership & team cadence, including refining the change transition plan for how we would approach the various portfolio’s and teams within the division.
We also aligned teams onto a single digital toolset (in this case the Broadcom ValueOps stack, comprising of Clarity & Rally toolsets) to drive a significant improvement in visibility & transparency of the work within the division.
Next we focussed on coaching at both a top down and bottom up level. This comprised of taking a lean portfolio approach to support critical decision making for setting, refining, and planning portfolio priorities; and
Supporting squad/team level work breakdown, prioritisation, and planning in cross functional teams (comprising of product owners, scrum masters, engineers, testers, and business analysts).
Additionally, we coached Release Train Engineers (RTE’s), Product Management/Ownership, & Platform/Solution Architects on work breakdown practices & running effective 90 day planning sessions.
Regular status reporting to Executive leadership aligning enterprise delivery KPI’s to actionable insights to improve predictability and flow.

Key Outcomes

Estimated annualised cost waste reduction of $20m
Over 500 people educated in the banks new ways of working
Squad/team velocity increase of 10%
Squad/team predictability improved by 50%+
Portfolio & team backlogs visible and transparent, in a single tool.