REQUIREMENT
A major bank needed a specialist, reporting to the Chief Risk Officer, to develop and implement a risk management framework and provide crucial oversight and management for the successful separation of the bank from its group operations. The board was acutely aware of the risks associated with separating the infrastructure, applications and data, so required a highly experienced interim to head Risk and IT Security for this complex £120m programme.
SOLUTION
With extensive experience in operational risk solutions, the interim first established a fit-for-purpose framework, built to last for the life of the programme. It was simple and pragmatic and became a living, breathing part of what the business needed to do to manage its risks. Next he provided essential risk oversight and challenges of both the BAU operation and the programmes it was separating by establishing the necessary discipline for risk reviews. His team of six started a drumbeat with the business for fortnightly reviews on all programmes, workstreams, and monthly reviews on BAU units which kept information current and a finger on the pulse across the business. Activity also included periodic assurance and management of third party IT security contracts.
OUTCOMES
This 18-month programme managing risk in its various formats gained excellent buy-in and feedback. The degree of adoption meant risks were successfully managed and averted. It was considered ‘The best risk management programme ever reviewed’ by the external consultancy undertaking the broader separation programme. The work undertaken by the interim led to him double-hatting as Head of Risk Framework and Governance in the final 6-months of his assignment.
WHY CW INTERIM?
The client had worked with Campion Willcocks over many years and trusted their ability to deliver proven interims. This candidate was chosen because of his depth of experience in operational risk solutions for high-level programmes.