The client is one of the UK’s most innovative mortgage lenders. The business had impressive year on year growth, writing some £6bn of new mortgages annually.
As the business grew it outstripped the ability of its performance monitoring systems to produce unambiguous operational and board reports. The board committed investment to acquire new performance measurement technology and processes. It recognised that the organisation lacked the change management skills to deliver it’s objective.
One of our experienced change professionals managed the programme, reporting to the Chief Operating Officer. The work involved:
- Initiating the programme. Clarifying the key performance indicators and the inputs to the measurement system. Identifying appropriate technology, together with the necessary process and organisational changes. Programme planning and resourcing. Preparing the costs and benefits case, and obtaining board approval.
- Leading the business change and technology implementation teams to prepare the new measurement processes and tools.
- Progress, cost and risk management.
- Transitioning the business. Working with the HR Director to plan and execute training, introduce the new processes, and familiarise senior management with the new performance measurement tools.
- Stakeholder communications and management, road shows and progress demonstrations.
The new measurement system brought clarity to the key performance indicators. Tighter operational management became possible, together with clearer strategic decision making. The Chief Executive gained new insight into the performance of the mortgage assets.