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Supporting a digital transformation in banking.

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A multinational financial services group had made the decision to reinvent itself from a profitable analog bank into a digital services business. When Korn Ferry Hay Group started working with them, the bank had already made big strides on its transformation, including its technology infrastructure and relationship with suppliers. The bank now needed a talent strategy to take the transformation to the next level.

 

When Korn Ferry started working with the bank, it had two main areas it wanted to address:

  • The bank’s existing structure was based on a hierarchical model. In order to move quickly and become more agile, it needed to move to a project-based operating model.
  • The bank wanted to be able to attract and retain talent with both the right skills and the right mindset to help it push the digital transformation forward.

Korn Ferry worked with the bank to design a new HR model for their Technology and Operations (T&O) department to achieve both of these aims.

The first step was to analyze their strategy and identify the roles and capabilities needed to deliver it. We then developed an approach to talent management based on a new organizational model and put in place an implementation plan to achieve it. Finally we worked with the company to articulate the new employer value proposition, define career paths and the performance management and reward framework needed to support and drive the desired behaviors.

 

The bank has been left with confidence that it has the correct talent strategy within its T&O department in place to support and drive forward its ambitious digital plans, now and in the future.

“The critical goal is changing from a mindset of being a bank´s department to a mindset of being a digital services company.”

IT Strategy and Enablement Director

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