Third-party risk management is cross-functional by nature. Successful implementation of the program requires a solid framework for the change — by gathering requirements and input from key groups impacted (Business, IT, Audit, Legal, etc.) and gaining buy-in for consistent execution after the program launches. RedKnot ensures there are clearly defined roles and responsibilities – established throughout each level of the organization, to support change and keep stakeholders engaged.
With RedKnot’s leadership, the change management journey begins with the end in mind — defining what success will look like for your Organization, gaining buy-in among stakeholders and planning the execution drivers. Whether you choose to outsource your TPRM program to us or handle it on your own, we know there can be a lot at stake when change occurs, including organizational reputation. Going beyond understanding the impacts to your stakeholders, we help cultivate the cultural support needed along the way — through communication, engagement, cross-functional awareness and robust participation. Managing major organizational change takes a cross-functional view, because it is more about moving everyone to the next level together, than just blocking and tackling the change event milestones.
RedKnot has extensive experience in leading large cross-functional transformation – with some of the largest corporations in the U.S. & Canada.
Key engagements where we have applied our expertise:
- Led employee and customer experience workstreams for a Canadian-held bank’s merger integration for treasury management including marketing, communications, training, pricing strategy and support.
- Increased resource utilization/revenue per hour for an Atlanta-based accounts receivable management company by 20% year-over-year through data analysis, employee coaching and optimizing sales incentives.
- Collaborated with over 160 project participants (domestic & off-shore) in a 3+ year effort to migrate over 200 services and 3,900 users to a new treasury management implementation platform for a Top 3 San Francisco-based bank.