lasting change: awareness, desire, knowledge, ability and
reinforcement. By outlining the goals and outcomes of successful change,
the ADKAR Model is an effective tool for planning change management activities, equipping your leaders facilitating change, and
supporting your employees throughout the change.
Hiatt notes that the secret to successful change is rooted in facili-tating change at an individual level first. Hiatt states that by engaging
individuals at all stages of the change process, each individual
develops a sense of ownership for implementing and sustaining
business improvement initiatives. In turn, the likelihood that organizations reap the benefits of organizational change increases.
Starting with a clear, supportive tone from the top is not only
desirable but is necessary for successful change. The amount,
type, and timing of management communications will depend
on the audience and the magnitude of the change. Keep in mind
that even small changes may require substantial change management efforts. Once those impacted by the change understand and
accept the it, they must know how to change and have the skills
to make the change happen. Thus, on-the-job supervision and
monitoring of performance will reinforce the change until the
new procedures become ingrained in daily operations.
Tailoring “change” training to job responsibilities is always an
effective approach since it is natural for individuals to want to
know how change impacts them.
Clearly documented policies and procedures supporting the
training and implementation of change is especially important
in mitigating any potential compliance risks that may result from
improper execution. Monitoring of performance and consumer
complaints during the transition period and immediately after, will
confirm whether implementation was successful or if processes
or procedures need to be revised and re-implemented.
One thing we all know for sure is that nothing remains con-
stant except change itself. As the business of financial services
and banking changes, regulations will change, business processes
will change. Most learning and development functions provide
change management training. If training is not provided inter-
nally, outside training providers could be a worthwhile investment
for the compliance department. Because compliance officers are
change leaders, change management skills are important to con-
tinue adding value to the organization and support its compliance
performance and strategic objectives and goals. ■
ABOUT THE AUTHOR
LIZA WARNER, CPA, CFSA, CRMA, is a managing director at
CrossCheck Compliance LLC and a bank internal audit, compliance,
and risk management executive with over 30 years of experience
in the financial and professional services industries. Previously Liza
was the chief compliance and operational risk officer for a mid-size
regional bank and has consulted with institutions of all sizes on
their internal audit and compliance needs. She started her career
in the internal audit function of what is now one of the largest
national banks. Liza can be reached at email@example.com.
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