"I can't say that everything is right with
my area of operations," John, the risk manager of Mega Financial Services told
me during our first interview. "I am not
getting the level of risk notifications that would
be normal in a company like ours. We know we have a risk problem here, but we don't
know why." Mega is a Fortune 500 company with operations worldwide and John
was particularly concerned about the risk profile of the company's US businesses.
Other executives we talked to at Mega voiced their own concerns. They were united in
feeling that if only that particular problem,
which they were raising could be fixed then Mega Financial would be fine.
My company, Fortinberry Murray Consulting (FMC) , had been called by
Mega's CEO in because the company's overall
profits had been declining and there was a high
rate of unwanted attrition of their best people, mainly to rival companies. Their level
of engagement was very low (well below the national average of 19%, which is, itself,
a striking condemnation of modern management practices).
John had been one of the prime movers in choosing us since he had worked with
us in a previous job. Fortinberry Murray has wide experience in driving culture
change, frequently around risk and compliance
issues. Often these seemingly discrete problems are just the tip of the iceberg. Mega
Financial Services Inc., is obviously not the
company's real name and I have changed some of the facts relating to it to protect confidentiality. |