Risk process and Risk Platform implemented that improved the effectiveness in managing business and Operational Risk
High numbers of regulatory changes requiring the client to rebuild its risk profile and tool set. Once we assessed the risk landscape, we identified that our client was experiencing several performance issues including high turnover within the C-Suite. Concern surfaced around cultural and Wellbeing.
The primary focus of the organisation was on the quality of the customer experience. Senior leaders shared that ‘We have lost our way forward’. With the arrival of a new CEO work started to stabilise the business and create a new vision for the future.
What ACN did…
ACN and the client focused on establishing a baseline that the organisation and its Board could align on. ACN worked across every group within the organisation to best understand their view on what “aged care” meant, finding each group to have a different but equally passionate stand on their contributions to the aged care customer experience. They also found pockets of resignation to be addressed. From the CFO, “the initial report was very confronting – seeing the comments in black and white forced you to have a moment of ‘is it worth the fight,’ to appreciate the scale of what we were up against”.
The client realised that there was positivity in the report as well – that there was a lot that could be built upon and knew they had to return to the original purpose of their organisation – to truly, deeply, and in a seriously changed industry, model care for their elderly and their experience of aging while operating responsibly as a healthy organisation.
ACN and the CEO presented their early findings to the Board and with that healthy discussion, concluded that there was no time to hesitate in creating a journey map forward– the risk process, matrix, register, and tracking tools were vital to their existence moving forward.
The journey map allowed us to operationalise that care, to have a common understanding of our business targets, to reach beyond the slog of continuing as we were. We had to breakdown our silos and reset in the new vision of who we were and what we were about.”
“They limited the risks we had to look at, helped us at all levels to recognise our connection to those risks, the need for constancy and stability, the gift of the dissenting voice, to not accept okay and to step up and own our reality.
“We now clearly understood both the why we must change and the how to get there.”
ACN’s ability to use conversation enables the organisation to ‘realise’ – it creates a new self-awareness and a new ability to develop organisational self-control. They worked with us to create a change that won’t blow down – it is rooted in something solid.”
The Board was able to clearly define specific risk categories, appetite and process and this was transferred to a Risk Platform that allowed for transparency, ownership, efficiency and effectiveness in managing the business risk.
The Senior Leadership Team was now able to focus on their roles without Board interference and employees were enabled and empowered to help deliver improved and sustainable business performance.