A senior vice-president recognizes that the inadequacies of a seemingly insignificant compliance unit could jeopardize the overall growth strategy of BOKF, a large regional bank holding company. Paula agrees to take on the transformation of the CRA department into a modern Community Development Banking Group ( CDBG) that will contribute to the overall strategy of BOKF, the parent banking company.For the first three months, Paula is learning the existing, inefficient and archaic process while she studies benchmark banking groups to crystalize a vision for the future and initial direction for the group. Early in this process she brings new leadership into the unit while concurrently managing the old processes until the new ones are operable. The challenge is complicated by substantial resistance to change by executives in powerful operating divisions affected by the compliance responsibilities of the CDBG. Communication and collaboration across organizational silos and the role of powerful sponsors are key elements of the transformation. The early stages of the transition seem to be going well, showing initial successful strategy implementation.
Identify the major challenges and issues remaining for the leadership team.
Provide three solid recommendations for sustaining the momentum for change, providing adequate support for why you selected these particular recommendations.
