A Major UK Bank

Nichols designed and implemented a new incident management system which resulted in staff empowerment and a significant reduction in the risk of operational failure.

Challenge
Banks require highly effective and responsive incident management systems. The Risk Oversight Unit engaged Nichols to design and implement standardised systems and gain organisational commitment to support effective incident management.

Experience
Working methodically across the divisions of the bank, we initiated the project developing requirements and gaining investment authority for a replacement incident management system. We managed both its procurement and successful implementation with a lean project management team. Being a public body, our attention to detail had to be particularly thorough, which included the development of four workable options and engagement with a series of vendors.

Although the concept is relatively simple, winning the support of the many stakeholders for solutions that would change their personal ways of working was challenging. Open communications and trust were of paramount importance to the success of the venture.

Through meticulous planning and engagement with senior executives, we were able to secure support and even enthusiasm for the new approach.

Benefits
We designed, procured and installed the incident management system. The bank learned from our approach to managing programmes, programme risks and the option appraisal methodology.

We were able to initiate changes that empowered staff to contribute to the improvement of the management and operations of the bank. The organisation is more confident and the risk of operational failure is drastically reduced.