ENGAGEMENT
DayBlink was engaged by the integrity & compliance Vice President at a major healthcare organization to complete a 4-part organizational assessment and transformation initiative, including (1) a current state assessment of enterprise risk and governance, (2) conceptual recommendations for a future-state operating model, (3) high-level organizational design recommendations, and (4) a detailed design readout including roles & responsibilities, interaction models, scenario maps and career pathing. As part of this engagement, DayBlink interviewed over 200 executive stakeholders across all major lines of the business to assess enterprise risk tolerance and propose a future-state model that increased risk transparency and ownership across all three lines of defense. This project resulted in an organizational redesign centered on compliance, legal, information security and risk management business functions, including a new framework for committee management that centralized and streamlined risk decisioning across the enterprise.
PROBLEM
The client engaged DayBlink to improve operations and decrease risk by implementing a new operating model. Decision making in high-risk areas including data, risk, privacy, compliance, quality control and audit all suffered from a lack of information, communication and timely approval.
SOLUTION
DayBlink began by inventorying and documenting all governance, 1st, 2nd and 3rd line of defense measures across the enterprise, including impacted departments, scope, current FTE counts, budgets and impacted systems. We then developed detailed risk profiles for each of the 40+ enterprise risks identified in partnership with the executive leadership team. Next we conducted customized workshops for each of the 40 risks, involving 100+ executives across the organization.
DayBlink proposed several operating model design options to resolve sub-optimal risk decision-making and clarify enterprise risk tolerance. We presented and socialized impact charts for each proposal with key stakeholder groups and reviewed them with executive leadership. After aligning on a selected operating model and capabilities map, DayBlink proposed supporting organizational. Next we built skill maps to assist HR and leadership with recasting employees from their current roles into future-state roles. We provided a detailed breakdown of the proposed organization design defining core capabilities. For each capability, roles included a functional area lead (executive-level) with varying functional groups reporting up. Major changes to the organization included centralizing currently siloed risk roles under the Chief RIsk Officers and the Chief Legal Officer.
To pressure-test the new design and support the transition and change management process, DayBlink Consulting provided several artifacts. 1) We built interaction models to provide clarity into the distinction between leader roles and insight into the “go-to” players for key risk activities. 2) We developed scenario models to map the course of a typical risk case, from intake to resolution, intended to show the hand-offs from one part of the risk organization to the next. 3) We created “Day in the Life” models to show sample activities that each leader would engage in on a recurring basis, including meetings, escalation paths, and key tasks. 4) We built a detailed career pathing model to chart a course for the main career paths including job bands and detailed progression from one future-state role to the next. 5) Lastly, DayBlink Consulting provided 40+ skill maps to outline the specific knowledge and skill set required for each new role. The skill maps highlighted the business unit expertise required, the risk operations area of emphasis and the required second line of defense coverage.
RESULT
The organization was restructured to manage and govern the 40+ enterprise risk areas effectively and efficiently. Outdated and duplicative risk activities were eliminated, and new quality control measures were implemented. The new operating model directly impacted over 700+ stakeholders.
C-suite executive sponsors were provided a detailed future-state operating model and organization design that included a recommended sequencing of 50+ initiatives, a new framework for committee management, 40+ customized role profiles for future-state positions outlining key role responsibilities, readiness & adoption resources and more. The organizational cost savings from this implementation was estimated at $10M.