Change in financial services has become a differentiating factor. With that, the facets of leadership have and are still evolving, with a refreshed focus on the dynamics and instruments of change within organisations. There is unanimous agreement about the end goal but less understanding about what the actual steps should look like- the change journey itself.
The pace of change is a different proposition now than it used to be. The confluence of technology advances, which continue to occur exponentially, and consumer demand in combination with market and regulatory pressures give the context for the very real challenge of agility for FIs of all sizes.
This means in some cases wholesale transformation of traditional structures, hierarchies and business models, away from not only legacy technology stacks and systems, but also from endemic siloed cultures.
Architects often say it is easier to demolish and start anew but with live running workforces and global operations in train, transforming an enterprise on-the-go requires astute and reasoned methods and a considered approach. It goes beyond placing the focus on technology, as the industry is wont to do.
Of course, it is not only longstanding or legacy organisations that need an agile mindset towards their business. As start-ups scale, they are under pressure to evolve and grow while maintaining the fresh outlook through which they brought something new to the market in the first place.
When so many large-scale transformation projects fail, successful leaders need to look at transformation differently and ask themselves what are the core tenets of change and transformation? How does one effect change, enterprise-wide and what are the real dynamics of modern leadership?
It takes the vision to identify processes that are redundant or limiting, for example longstanding Key Performance Indicators (KPIs) may be redundant within new business and operating models. Or the way in which teams interoperate and report may need to be adjusted; upskilling is likely a contributing factor; HR and recruitment parameters need likewise to be taken into account.
The instruments with which to change course need to be clearly and realistically set on course, but what else is required in order to inspire and influence. Is indeed failure required in order to succeed?
This webinar from Finextra, in association with Mambu, will explore the dynamics of modern leadership and what it takes to succeed and orchestrate change, not only once but as a constant.
Speakers will be asked to share learnings and insights on some of the following points and more:
- The relationship between technology and leadership and how they influence change
- Are hierarchical constructs still fit for purpose?
- How do you ‘rally the troops’ (employees and stakeholder) successfully to drive change? What are some specific tactics?
- Gary Wright - Head of Research, Finextra [Moderator]
- Ben Snowman - VP Partnerships & Advisory, Mambu
- Neal Cross - Co-founder & Chairman, PictureWealth
- Kevin Ding - Vice President, Strategy & Business Transformation, Citi