The audit function of a leading UK bank review and adjustment to risk management
The task
In the aftermath of the economic crisis, our client, a leading UK Bank, recognised the imperative to review and adjust its approach to risk management to help ensure that failings in the banking system could not reoccur, and to raise consumer confidence. Positioning the Audit function as the “last line of defence” for the business, the company set out to provide support for its team of 300 auditors and audit managers, to help them improve the way they manage relationships with their stakeholders.
The solution
Based on its track record of successful project delivery with this client, Momenta was engaged to design and deliver an audit function upgrade programme that included workshops, a management conference, and individual and team coaching using psychometric instruments. The programme focused on understanding the behavioural styles, both of the auditor and the stakeholder, allowing the audit teams to develop successful tactics for their interactions, landing tough messages and bringing about positive change in the business. The programme enabled individuals to work through real-life situations to develop tactics to bring about more positive outcomes. Momenta’s framework was also embedded in the methodology of the function so that the advanced principles of stakeholder management would be consistently applied throughout the audit process.
The outcome
Two years after the end of the programme, the language introduced by Momenta prevails and continues to be used to determine tactics throughout the audit process. Confidence levels have improved and the function reports that there is a dramatic improvement in the way it is perceived and valued within the business. The Momenta associates continues to train new auditors and we have recently been asked to support the development of internal coaches, who will support new arrivals with their stakeholder engagements.
“You’re light years ahead of your competition because you know what it takes to make change really happen…” – Director Testimonial
- 300 Auditors and audit managers
- 2 years on and Momenta tactics were still being used
