r a hills - personal profile
TRANSCRIPT
Page 1
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Personal Profile Qualified accountant & MBA with extensive project management, consultancy and line management experience obtained primarily within blue chip Financial Service organisations and SMEs in various sectors
Experience
iPEC Currently training to be a business & life coach through an accredited coach training programme
Prince2 Project Management
MBA* Master Business Administration, Ashridge Management College - 12 months full time sponsored programme
FCCA Fellow of Chartered Institute of Certified Accountants
DipM Postgraduate diploma in marketing with the Chartered Institute of Marketing - 5 weeks intensive course
* Obtained distinction for dissertation on “Competitive advantage through Service Quality”
Key Achievements Professional Qualifications
Client Acquisition Signed up 36 SME clients to business improvement programmes generating monthly fee
income. Over 75% conversion ratio on sales appointments.
Income Generation
Generated £0.22m fee income through account and project management of delivery of
consultancy services to 45 SME clients.
Finance Transformation
Delivered £1m p.a. cost saving and improved financial reporting at Barclays leasing subsidiary through project managing implementation of new Finance organisational redesign. Line management responsibility for 8 direct, 50 indirect staff. 25% productivity saving (60 staff) and improved outputs of central finance team at Barclays through project managing development & delivery of an organisation redesign.
Strategy into Action
Successfully implemented a mechanism to deliver a new business strategy at Liverpool Victoria Friendly Society. As Business Change Manager project managed the development and implementation of an integrated business / financial planning, measurement (via Balanced Business Scorecard) and performance management process. Facilitated implementation through involvement of all levels of management and staff.
Strategy development
Developed a new business strategy for Liverpool Victoria Financial Society as a member of special projects team. Developed and secured agreement for a new strategy for Halifax Insurance (Personal Lines insurer) to deliver competitive advantage in a crowded market. Set up & facilitated supporting change programmes to ensure employees could keep ahead of the needs of both the Company and the Markets.
Profit Improvement
Delivered £0.75m savings through project managing cost reduction initiatives at Abbey Life Assurance & Frizzell Financial Services.
Business Performance
Risk & Control
S166 Compliance Review
Achieved project management deliverables & multiple stakeholder expectations for s166 review for Sanlam Wealth Planning. Commissioned by FCA the project entailed a file review of over 200 cases to check if clients had been fairly treated & redress payment where this was not the case.
Sarbanes-Oxley (SOx) compliance
Achieved project deliverables for SOx s404 compliance for Group Support Functions at Barclays headquarters (Finance, HR, Treasury, Tax, Risk, etc). Highly complex project entailing continually changing scope & tight deadlines.
Financial Control Secured agreement and facilitated successful implementation of a new financial control framework at Frizzell Financial Services.
Decision Support Developed and successfully delivered new management information at Abbey Life Assurance & Chase Manhatten Bank improving control of the business.
Consultancy Selling, account & project management of delivery of
consultative services to SME clients across all sectors,
principally in Construction
Internal consultancy within Financial Services
Interim
Management
Line and project management to deliver cost saving, process
improvements & regulatory compliance in Financial Services
Project
Management
Stand alone and part of group wide Finance orientated
programmes to deliver cost, process and compliance benefits
in Financial Services
Strategy
Development
Development and implementation of strategies in Financial
Services
Business
Analyst
Process re-engineering to deliver cost, efficiency, effectiveness
& compliance benefits in Financial Services
Financial
Management
Line management of accounting teams in Financial Services
Accountancy &
Audit
Practitioner in all aspects of financial / management accounting
and auditing in FMCG, pharmaceutical and timber companies
Page 2
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Background
Set up my own practice in Nov 07 providing business advice and support to SMEs (typical
profile between £0.25 to £5m turnover, 5-20 staff). Initially operated independently acquiring
own clients and delivering services by myself. Subsequently established a working
relationship with another organisation providing similar services to the SME market focused
on the Construction sector. This relationship provided an opportunity for increasing my
portfolio of clients more quickly than if I operated independently. The result is I now have
skills and experience to effectively sell and deliver the following services to clients in different
sectors and achieve consistent successful results:
Achievements
Testimonials
Go to page
Planning for Success
Valuing a business and defining actions how to increase this
Preparing and communicating business plans, budgets and forecasts to bring focus to
where the business is heading or needs to go
Improving cash flow by knowing how to work out future liquidity needs, monitoring and
maximising the availability of cash in the business
Maximising shareholder value by protecting capital, succession planning & planning for exit
Improving Business Performance
Installing and running financial processes to effectively plan and control the business
Installing and running marketing processes and systems to generate new business and
improve customer retention, including:
• Preparing content for web sites including case studies
• Preparing content for brochures, leaflets and prospecting literature
• Installing and building a CRN database
• Demonstrating or doing telemarketing either independently or via a Call Centre
• Demonstrating techniques for effectively closing a sale e.g. DISC profiling
Installing and running HR processes to ensure everybody is clear and focused on where the
company is going and motivated to achieve success
Cost reduction and management
Mentoring and coaching business owners in how to get the best from their people and
resources and to maximise their potential
Reaping the Rewards
Obtaining external recognition that the business has adopted best practices through
preparing for and obtaining Investors in People accreditation
Preparing Information Memorandum to market and sell a business
Marketing and selling a business for the best price
I am happy to recommend Richard Hills of Countess Associates to any one in
business who is mired down with the same old problems and with a narrow view about
their business as I was with McConnell Travel. Richard was able to take an objective
view and made me focus on the weaknesses that I knew existed but simply chose to
ignore. With this fresh outlook I was encourages to relocate premises, at a
considerable saving, re-mortgage, at a considerable saving, and, make the important
decision to sell the travel side of McConnell Travel Ltd which was going nowhere but
which was draining resources from other income streams. There is no doubt that had I
not been acquainted with Richard I would still be very much worse off. Tim McConnell - Travel Agent
Richard doggedly helped us to make the time to sit down as a management team
and take a long hard look at our business - where we've been, where we are and
where we want to be. Richard then assisted greatly in the production of a plan to
adjust what we are doing now & where we want to be in the future. Philip Warr - Property & Construction Surveying practice
Signed up 36 clients with a conversion ratio of greater than 75% on sales appointments
£0.07m fee income from grant funded activity for 19 clients
£0.15m fee income from non grant funded activity for 28 clients
Average retention / fee income of 7.5 months / £750 p.m. respectively for activity for non
grant funded clients
Achieved Investors in People accreditation for 6 clients
Improved bottom line performance through:
• Co-ordinating various cost reduction projects including finance outsourcing, office
relocation and staff reduction initiatives
• Development and implementation of marketing processes and systems
generating new business enquiries and customer acquisition
Improved personal effectiveness of SME business owners through one to one coaching
and mentoring in business and financial management
Client Acquisition and Income Generation Provision of business advice, practical help & support to Small Medium Enterprises (SMEs)
Page 3
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Finance Transformation
Business Change Management of a large Organisation Design & SAP implementation at a Barclays subsidiary
Background Challenges
In 1999 the Barclays leasing subsidiary undertook a redesign of its business model,
covering all areas of its business. The Finance team was organised in a
fragmented manner including a mix of accounting & administration activity. A
radical new Finance design was developed & communicated to staff reflecting the
following features:
Achievements
Sponsor Feedback
Aggressive
headcount targets
The aggressive reduction targets were set in stone and we did not deviate from this plan.
This was reinforced by the Executive. Temporary resource was used for limited periods
to provide additional support, where required.
Transition to “End
State” design
whilst meeting
Business -As -
Usual (BAU)
requirements
This was the most complex and difficult challenge requiring a 40% churn of staff. We
needed to recruit a number of new lower skilled recruits, and complete handovers before
releasing displaced staff. I decided that the most sensible way to do this was to handover
existing processes to new staff before changing to new processes. This delayed
realising the full benefits of the new structure for c6 months, and placed a lot of pressure
on key members of staff, but was less risky than a big bang approach.
Managing complex
& diverse
stakeholder
expectations
Whilst I was implementing the new OD, a new Finance target model was being planned
for the Group, based around a new shared service centre, business partnering, & the roll-
out of SAP across the Group. My challenge was to ensure our OD was supportive of this
new target model, whilst not delaying realising the benefits required by local
management. This was achieved through my regular contact with the Group Finance
Change Programme and local Executive & ongoing review & alignment of our plans,
where required. I also needed to keep our auditors, governance bodies & external
regulators regularly briefed on progress and developments. Throughout the project
positive feedback was received from stakeholders.
Meet tight
timetable for
migration to SAP
We were one of the last Barclays sites to be migrated to SAP. The new OD had been
implemented ahead of this migration, where the benefits of the new technology were
required to support the planned resource savings. These problems aside, I identified &
seconded 4 BAU resource to work full-time on the SAP migration & backfilled these key
positions. These BAU staff ensured our interests were effectively represented, supported
staff training and they acted as implementation champions. The migration to SAP was
achieved within eight months and the required benefits realised.
Change in mindset
to new ways of
working
Initially staff (and some management) had difficulty relating to the new way of working
required in a matrix environment. I tackled this through the performance management
process supported by lots of coaching. There was no difficulty in convincing external
trainers of the merits of the new approach and I arranged a number of staff training
sessions to bring alive the new way of working. A number of communication events,
organised by the staff, were held to celebrate success & reinforce the message of what
we were trying to achieve. After twelve months staff had become comfortable with the
new way of working and much preferred it, as evidenced by excellent staff survey results.
“Richard’s attitude to change and commitment to his role, and his behaviours have
been exemplary. He has delivered a number of high priority projects for the
business. The most challenging were the implementation of the new OD and SAP.
Both contained enormous challenges and were business critical; both were
delivered successfully.
Richard is an enthusiastic and competent change and project manager in addition
to his accounting / management skills. He has proved himself to be comfortable
with ambiguity and he can, and has had to rely on, his inner strength to maintain
what has at times been a difficult momentum.”
Chris Boobyer - Finance Director, Barclays Asset Finance (Oct 2002)
I joined the company at the beginning of 2002 and my brief was to lead the
department through the change process & deliver the benefits. This included accountability for eight direct reports and sixty staff.
• Focus on core finance rather than administration or transaction processing
activities
• Spilt of activities between production and business partnering
• Multi-skilling - new roles defined offering more variety & flexibility, more scope
for exposure to different work and different areas of the business
• Leverage benefits of migration to SAP technology
After two & a half years the following was achieved:
• Finance cost base reduced by £1m p.a. through overall headcount reduction,
transfers, rebalancing of grade mix, and process efficiencies (25% efficiency
saving)
• Successful migration of General Ledger & Accounts Payable to SAP
• Top Quartile Staff Survey results
• Positive feedback from external auditors
Go to page
Page 4
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Finance Transformation Project management of a major organisation design of a central Barclays finance team
Background
The Barclays Group Finance team, located at the Group Centre, comprised 60 staff. The team was
responsible for group accounting policy, consolidation of the group’s results and external financial reporting,
and the provision of group management accounts and decision support to the Group Executive.
An organisation redesign was commissioned by the Director of Group Finance with the following objectives:
• Remove duplication in effort in external and internal report production
• Create a more business-facing structure with better career opportunities
Breaking the
mould
The new model challenged current convention that
management & financial accounting were two mutually discreet
areas. Through process analysis & interviewing staff it was
possible to demonstrate inefficiency through duplication of
effort.
Managing
difficult
stakeholders
As with any OD there are winners and losers. Rather than
impose one solution a number of options were developed and
the preferred option agreed. Stakeholder buy-in was obtained
through their participation & agreement in the design.
Change
mindset to
new way of
working
The new model is based on a matrix, rather than a silo based
working environment. This required a focus on different
behaviours. Role models were identified & used to
demonstrate the required behaviours. In addition,
communication events were used to reinforce the message.
Minimise
redundancies
Prior to the OD being finalised greater use was made of
temporary resource. Following definition of new roles and job
marching, redundancies were minimised through release of
temporary resource.
Transition to
End Sate
This is reality time when the good ideas on paper need to be
put into practise. This was achieved through planned
handovers and dry-runs, where the old & new arrangements
ran side by side.
Challenges
I was appointed project manager in Oct 2002 to manage this activity, accountable to the Barclays Group
Financial Controller.
Achievements
In consultation with stakeholders, I developed and obtained agreement to a new leading edge organisation
design (OD), within 6 months of the project inception. This new design provided two separate but
interrelated areas with the following features:
Group Financial Control
• A consolidated reporting function for statutory, management and regulatory reporting providing a
single point of contact between the centre and the business. This integration resulted in a 25%
resource saving.
• With the increasing regulatory environment (e.g. Sarbanes-Oxley, Basel II, IFRS) a focal point and
source of dedicated expertise was provided on financial control, risk mitigation and accounting
policy across the Group.
• A new Group Information Management team to provide fast track response to customers for non-
standard information.
• A small finance systems capability to co-ordinate and prioritise systems enhancements and to
proactively intervene to ensure maximum benefits are achieved from all existing and future system
developments, particularly the group-wide investment in SAP.
Business Performance • Performance Management - a central team of business aware finance professionals working
closely with the business finance teams to establish, understand and interpret the consolidated
group-wide business performance
• Financial Planning - a team of individuals working closely with Group Strategy & Planning on the
financial aspects of the business planning process, as well as driving the annual budgeting process
across the organisation
• Cost Management - a central team and investment expertise which sets policies & guidelines
across the organisation, monitors financial & non-financial benefits delivered through the strategic
investment portfolio and drive group-wide costing & Revenue initiatives
Sponsor Feedback
“Richard played a key role in delivering the new Group Finance organisational
design to a tight timetable and involving a number of complex issues and
processes… He showed tact and care in managing the needs of the key
stakeholders which was very important in realising a successful conclusion.
Overall a very good piece of work.”
Jon Anderson - Barclays Group Financial Controller (May03)
Go to page
Page 5
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Strategy into Action Project managed the development of an integrated measurement, planning and performance management framework, fully aligned to a new company strategy at Liverpool Victoria
Background Challenges
In 1996 Liverpool Victoria (LV) acquired Frizzell Financial Services (Frizzell)
and established new corporate objectives & business strategy for the Group.
These new objectives needed to be translated into a set of measures and
targets and aligned with the planning and reward mechanisms.
Accountable to the HR & Change Director, I was commissioned in mid 1997
to develop and implement new processes that would provide a clear line of
sight from company strategy to business and individual performance, and
rewarded performance for appropriate behaviours based upon the company’s
values. In addition, staff awareness & understanding of the new company
strategy needed to be increased.
This was a major business programme that took 18 months to complete.
Some parts were led by external consultants, other parts I led directly myself.
Need to break
the mold &
obtain buy-in
The existing measurement & planning processes in LV were focused on
financial measures. There was no clear link between strategy, activity and
financial performance. The current measurement processes were
inappropriate and were designed to reward behaviours that were now
inconsistent with the strategy and company’s values.
A radical overhaul of the measurement, planning and reward processes was
required. There was a danger however that this would be perceived to be
another corporate fad, another new initiative that would fall by the wayside.
To address this, participation at all levels was encouraged in the design,
development and implementation of the new processes.
I personally became a role model for the new behaviours and demonstrated
these at all appropriate opportunities.
Linking
performance to
reward
The new framework required a significant cultural shift. The old command /
control mentality needed to be replaced with a new participative style of
management focused on coaching & support. New ways of working were
required based around team working, open communications and quality
outcomes. The challenge was to establish a suitable reward mechanism to
achieve this.
I participated in a review of available performance management frameworks
on the market. A new model was selected that combined the “What”
(business outcomes) with the “How” (required behaviours). This model
provided a clear link back to business activity plans and company values.
Raising strategic
awareness &
understanding
There was a lack of awareness of the new company strategy and how it
applied to day-to-day operations. To address this I organised and run a
number of communication events to raise awareness of the new company
strategy and to provide the context for the new planning & performance
management process. These events were designed to be interactive to
promote buy-in and encourage staff participation in the translation of the
strategy into action. Communication champions were identified from these
events and they were trained to run similar ones within their own business
areas.
An Executive balanced scorecard was developed combining financial and
non financial measures that supported the business strategy. I facilitated the
cascade of this into functional scorecards and established the MI
requirements to support these.
I facilitated the development of a new planning process that focused on
business activity required to support the new strategy. These activity plans
then provided the basis for the budgeting & forecasting processes.
I managed the roll-out of a multi-level training programme across the
company (c3000 staff) for the new performance management process. This
was achieved by the use of communication champions who were trained to
run a 2-day training session. Top management were invited to host these
sessions to provide business context and to demonstrate their commitment.
Positive confirmation from management and staff of increased awareness
and understanding of the company strategy
I successfully handed over the new processes to Business-As-Usual
operations.
Achievements
Go to page
Page 6
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Strategy Development Development & implementation of a service strategy and change programmes at Halifax Insurance
Background Challenges
In the early 1990s the Halifax Insurance Board agreed that improved service
quality would enable the company to differentiate itself from its competitors..
I was appointed as in internal consultant and change manager to develop
and implement a new service strategy to support this aim.
The strategy took 12 months to develop and agree and was completed as
my MBA dissertation at Ashridge Management College. It entailed a
thorough review of all aspects of the company’s service operation. This
covered tangible elements such as its people and systems and intangible
elements such as the company’s culture.
The implementation of the strategy took a further 12 months. This required
commissioning and progressing various large change programmes.
Achievements
Managing
Sponsor’s
expectations
At the start of the project, the sponsor anticipated that the service strategy would work
within a structured framework of preparing the company for formal quality
accreditation. It soon became clear to me that developing a service culture was the
company’s most important priority. After completing an evaluation of the implications
for obtaining a service quality award, and seeking expert opinion, I was able to build a
convincing argument that going a for a quality award was not the best way forward.
Build trust &
confidence of the
Board
I was operating at Board level but was not a member of the Board. I therefore needed
the support of the Board without making them feel disenfranchised or threatened by
my presence. This was addressed this in a variety of ways. Firstly, through
maintaining regular contact with the Board members, both individually & collectively,
they were kept updated on progress and developments and discuss issues. Secondly,
through requesting the Board’s input in the design, development and implementation
of the new strategy through 1-2-1 sessions, participation in workshops, hosting staff
communication events, etc.
Build trust &
confidence of
management &
staff
In addition to the Board, I needed to build trust and confidence across all levels of the
organisation. I achieved this by not aligning myself with any specific group to maintain
my independence. I ensured that the purpose of all requests was explained and
understood. I fed back the results of any discussions to avoid misinterpretation or
misstatement of what was said. I encouraged openness and honesty by others and
ensured confidentiality was maintained, where appropriate. Finally, I presented things
as they are rather than how others would like these to be perceived.
How to be
effective outside
of my comfort
zone
I was expected to be an expert on all areas of the business. My previous background
was financial and I was now getting into other areas of the business that I had limited
exposure to. I addressed this by utilising my network of business contacts to discuss
developments, critique material (e.g. interventions, surveys, reports, presentations)
and seek advice on the robustness of proposals before presenting these to the client.
Conflict of
priorities
The demands of the MBA were high & had to balanced against the needs of the Client.
Effective time management was critical to maintain focus on a variable and demanding
workload. This was achieved through detailed planning and organising to ensure that
best use was made of available time. I applied my other assignments on the MBA to
the development of the service strategy. This ensured that I maintained focus and
made best use of my available time.
Development and agreement of new service strategy. Obtained
distinction for strategy as main dissertation for Ashridge Executive MBA.
Planned and progressed change programmes to deliver the service
strategy, including:
- Multi-level management development to tackle cultural blockages and
improve individual performance
- Improved use of technology [e.g. Electronic Data Interface (EDI) with
intermediaries (brokers) to replace paper based processes].
- Business Process Redesign (BPR) of underwriting and claims processing
Successful hand-over of implementation plan to deliver strategy to
Business-As-Usual operations
Obtained positive Client feedback to consultancy and change
management support provided
Go to page
Page 7
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Profit Improvement Project & change management of various cost reduction & process improvement initiatives at Abbey & Frizzell
Background Challenges
Achievements
£350k p.a. agreed cost reduction savings from review of Computer Network Services
& Facilities departments (Frizzell)
£250k p.a (30%) agreed cost reduction savings from redesign & reorganisation of
Customer Accounts department (Frizzell)
£150k p.a. (30%) agreed cost reduction savings from redesign of Management
Accounting department (Abbey)
Build trust &
confidence
How to overcome resistance when jobs & livelihood are
threatened. Open communications is the technique that has
worked most effectively for me. Explain clearly the purpose of the
exercise and emphasise the benefits. Keep people regularly
posted and be open & honest. Seek staff input and involvement
rather than assuming that there is only one answer and you know
what it is. Finally, be prepared to sacrifice your own position if that
is consistent with the principles that you are applying to others.
Manage
difficult
stakeholders
Cost reduction is not a topic that everyone is supportive of. The
technique that I use is to seek the involvement of difficult
stakeholders rather than keeping them at a distance or removed
from the process. They may have valid concerns and they are a
useful resource to help resolve these. As a general observation
there is much higher likelihood of buy-in if people feel they have
contributed to the outcome.
Aggressive
targets
Stakeholders often have demanding expectations that need
managing. A useful technique is to look for quick wins.
Establishing a track record of early delivery goes a long way to
raising stakeholder confidence.
Establish a
reliable fact
base
It is important to have reliable data and evidence to support cost
reduction proposals, rather than relying on intuition and
assumptions. These should be documented and verified with the
source. Workshops are a useful way of getting group input and
buy-in and stimulating ideas for further investigation.
Abbey Life
Assurance Co.
(Abbey)
In the early 1990s Abbey identified the need to significantly reduce
its operating expenses to improve its profitability. To this end it
commissioned a firm of consultants to carry out a major review of
its Head Office expenses. I managed the review of my department
and developed recommendations for cost reductions in line with
the required methodology. The savings were agreed and my
position became redundant as part of the required restructuring to
realise the benefits.
Frizzell Financial
Services (Frizzell)
In the period between 1993 & 1996 Frizzell commissioned various
initiatives to reduce its operating expenses and improve process
efficiency. In respect of these:
- I was appointed project manager by the FD to agree cost
reduction savings for the Computer Network Services &
Facilities departments
- I was appointed business change manager by the FD to deliver
required benefits from the redesign of the Customer Accounts
departments, as part of a company wide Business Process
Reengineering (BPR) initiative. This entailed leading a team of
40 staff for 18 months through a change process. This team was
involved in Treasury, Accounting and Credit Control activity.
Go to page
Page 8
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Regulatory Compliance - Sarbanes-Oxley Project management of the preparation of Barclays group central support functions (Finance, HR, Treasury, Tax, Risk, etc) for s404 compliance
Background Challenges
In 2003 Barclays commenced preparation for a live SOX implementation at the
beginning of 2004. Following a deferral of the implementation date by 12 months
by the SEC, Barclays decided to press ahead and use 2004 as a dry-run. There
has now been a subsequent deferment of the implementation date by the SEC for
a further 12 months to Jan 2006.
I joined the programme in Oct 2003, initially to assist the mobilisation of the new
Group central programme team. This included standard Prince 2 start-up
activities, and setting up a new Programme Management Office (PMO).
In Jan 2004 I was appointed SOX Project Manager for a key business area -
Group Central Functions (GCF). GCF comprises all the group central support
functions (Finance, HR, Treasury, Tax, Risk, etc).
Having successfully completed the dry-run the ongoing GCF SOX requirements
has now been handed over to Business-As-Usual (BAU) operations.
Achievements
Evolving &
subjective
requirements
The s404 requirements were evolving & open to interpretation during the project. It
was also a case of “one size doesn’t fit all” for application across the Bank and there
was no “right answer”. For GCF I addressed these issues by managing a cross
discipline team of financial control, risk & project practitioners. This team met regularly
to monitor progress and to provide direction to the functions.
Conflict with other
regulatory
initiatives
Barclays, along with other Financial Services organisations, is now faced with meeting
a large number of complex new regulatory requirements, including SOX, Basel II,
Turnbull, Corporate Governance and IFRS, to name a few. I recognised that these are
all playing in the same space, albeit with its own individual focus & requirements. To
address this, I adopted an approach for SOX whereby existing documentation was
utilised, where possible and the outputs shared with other initiatives.
Managing difficult
stakeholders
I formed a Steering Group that included representation of all GCF Function Heads
impacted by the requirements. It would be true to say that not all stakeholders
embraced meeting these as readily as others! I maintained regular contact with
difficult stakeholders to reinforce the message and obtain buy-in. I also ensured that
compliance with SOX requirements became an integral part of the performance
management process. I provided monthly progress updates to the Steering Group and
briefed the Accountable Executive briefed, identifying where his specific intervention
was required. The outcome has been that SOX is now firmly on the management
agenda and positive feedback has been received on stakeholder management.
Change in
mindset to new
ways of working
There was a problem with some areas being ill equipped and lacking the appropriate
skills & understanding to meet the SOX requirements. This required tact & care in
managing the needs of these stakeholders whilst maintaining the focus on the key
delivery dates. Help was provided by myself, and support requested from other areas
of expertise, as appropriate.
Increasing
complexity
The volume of work grew exponentially during the year due to the sheer complexity of
what was involved. This included the impact of remediation and integration, the latter
being the agreement of all process hand-offs across the Bank. I needed to recruit
additional high skilled resource and obtain agreement to extend the dry-run by three
months to the end of March 2005.
• All key risks & supporting key control activities (c200) of material financial
processes (25) documented to an auditable standard.
• Entity level controls & General Computer Controls identified and documented.
• Audit plan in place to test all controls prior to go-live date and substantially
completed.
• New remediation process in place to address all items in a timely manner to
ensure s404 compliance.
• New Target Operating Model developed, agreed and handed over to BAU
operations to ensure ongoing compliance with s404 requirements.
• All project close-down criteria achieved and agreed with central programme team.
Sponsor Feedback
“…Throughout the year, Richard has always endeavoured to do what is right for
Barclays and has put in many long days without complaint. He has also provided much
needed help and support to those areas that were overwhelmed by what was required.
His attitude has been one of the consummate professional that has been noted by those
around him. Richard has been a driving force within the GCF / Central Support team to
ensure that we are SOX compliant going forward.”
Jo Fraser - GCF Change Portfolio Director (Feb 2005) Go to page
Page 9
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Improved Financial Control Project management of the development of a new Financial Control framework to support a company wide Business Process Re-engineering initiative at Frizzell
Background Challenges
In the mid 1990s Frizzell Financial Services (Frizzell) decided to carry out a
major Business Process Re-engineering (BPR) of its legacy systems
covering its personal lines business activity. As a result of this initiative a lot
of the financial controls previously applied by the Finance division were to be
either automated, or responsibility transferred to the business, to improve
service response times.
A complete rethink was required of how financial control needed to operate
in this new automated environment.
I was commissioned by the Finance Director to develop a new financial
control framework and to manage the implementation of the new controls.
Achievements
Obtain business
support
The business did not welcome accommodating additional financial control
requirements, when its focus was on saving cost and improving customer service.
The trick was to keep it simple and ensure focus was maintained on the key
areas. To achieve this I adopted a risk based approach. I facilitated a number of
cross-functional workshops to agree the financial risks attached to each new
process. Key controls were defined for each risk and circulated to the business
for review & challenge. After an iterative process, sign-off was obtained from the
business to the new controls.
Financial Control
expertise
The development of a financial control framework ideally required input from the
auditing as well as the business community. The auditors were reluctant to assist
with the definition of the controls as this would compromise their independence. I
addressed this problem by using my accountancy & internal auditing knowledge to
draft proposed controls, & obtained audit feedback on its appropriateness.
Pressure on
delivery dates &
to reduce costs
Due to the scale and complexity of the BPR programme there was pressure to
descope financial control requirements or defer to a later release. This required
care and tact to resist compromising financial control requirements. I addressed
this through highlighting to the key stakeholders the risks and impact of any
descoping proposals. I requested the Finance Director’s support to reinforce
areas of concern, where appropriate.
Change in
mindset to new
ways of working
The new way of working required the business to be more aware of the need for
financial control. I obtained this awareness through involving key representatives
from the business in the development and agreement of the financial control
framework. After I had defined the framework I assigned responsibility for its
implementation and ongoing operation to the business. I subsequently monitored
the quality of the implementation.
Managing
diverse
stakeholder
expectations
I needed to manage a variety of stakeholders who each had their own specific
interest in developments. I achieved this through one-to-one meetings,
engagement of stakeholders in workshops, regular project updates to the Finance
Director (Sponsor) & to the Programme Executive, and communication bulletins to
staff.
• A new Financial Control framework, developed, agreed and implemented
covering all aspects of customer and supplier interactions.
This framework was documented in a Controls manual, showing detailing
the key financial controls for each business process. For each key control
the following information was provided:
Control objective; key risk being addressed; description, responsibility &
frequency of control.
The business used this policy framework to set-up & implement supporting
working practices and procedures.
• Responsibility for the execution of the controls was successfully handed to
Business-As-Usual operations. The Finance Director was responsible and
accountable for the overall financial control framework.
• Positive feedback received from sponsor & key stakeholders
Go to page
Page 10
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
S166 Compliance Review Project management of client review to establish where best advice had not been provided & redress payments where this was not the case
Background Challenges
Following a complaint to the Financial Conduct Authority (FCA) a s166 review was
undertaken of the company’s file. This review highlighted a number of risks
relating to the company’s approach to replacement business. A further s166
review was requested focused on Pension & Investment switching from a 3rd party
fund sponsored by the company that was closed. I was recruited to project
manage this review in conjunction with a Skilled Person appointed by the FCA.
The purpose of the review was to assess if the company’s clients were treated
fairly following the withdrawal of the 3rd party fund in which their funds were
invested. Should the review find that any client was not fairly treated & led to
financial detriment then appropriate redress was to be made. The scope of the
review was approximately 210 contract.
Achievements
Project
Management
expectations
This project is viewed as being high profile so proper project management disciplines are
expected. To this end the project has being organised and run on Prince 2 standards
Managing
difficult
stakeholders
The project has involved managing the expectations of the Regulator whilst being
sensitive to the low enthusiasm by the client for the review. This has been achieved by
maintaining clear, effective communication with all stakeholders throughout the process.
Maintaining
effective record
of results of
review
Set up & maintained PC spreadsheet recording the key results of the review, workflow
and quality checking status. This spreadsheet has grown into a large database that is
shared by a number of users for inputting and interrogation purposes
Focus on
quality
A s166 review is serious so the results of the review need to stand up to close scrutiny by
the Regulator (via its appointed Skilled Person). This has been provided by
implementing effective quality management involving quality control & quality assurance,
with support for technical issues arising.
• File review completed on schedule & graded to standards required by Skilled
Person appointed by Regulator
• Client contact & redress currently in progress in accordance with approach agreed
with Regulator
Richard quickly got to grips with what needed to be done to meet the requirement for a
s166 compliance review commissioned by the FCA. He turned this complexity into a
clear plan of action that was signed-off by the internal executive & the FCA without
amendment. He then effectively managed and gelled internally seconded and external
recruited contract resource into a motivated team that met all that was required from
them. Importantly he provided confidence to a variety of senior internal and external
stakeholders that the project was being effectively managed and under control. This
took the pressure off myself enabling me to focus on other business priorities requiring
my attention. I would have no hesitation recommending Richard for a project or change
management role where planning & organising, communication, people skills are
required & credibility at a senior level is essential.
Nick Scarrett - Head of Distribution Compliance, Sanlam Wealth (Nov 2014)
Sponsor Feedback
Page 11
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Improved Management Information Managed the successful development of financial reporting processes at Abbey & Chase to deliver improved information & decision support to management
Background Challenges
Achievements
Improved distributor reporting system providing better and more timely information on
distributor’s sales & costs in respect of Shulton’s products. (Shulton)
Identified and implemented a significant cost saving opportunity that resulted in less less tax
being paid to the authorities on imported goods. (Shulton)
Improved cost control through development & implementation of cost control systems that was
perceived to be of value to Marketing as well as Finance. (Playtex)
Refocusing performance reporting to a forward rather than a backward looking perspective.
This was successfully achieved through the development of a forecasting capability and focus
on activity drivers, rather than focusing on actual versus budget comparisons. (Chase)
I successfully convinced the sponsor of developing a PC based rather than a mainframe
costing solution. By keeping it simple I was able to design & deliver a solution on time that
successfully met all the stakeholder expectations. (Abbey)
A summary of highlights of my early career achievements during the mid to late 1980s. Build trust &
confidence
(Shulton)
Finance had previously been excluded from commercial dealings
with overseas distributors due to personality problems. A lot of
careful stakeholder management was required to repair this
relationship. This was achieved through my seeking opportunities
where I could demonstrate that I could be of value. Once I had
made a breakthrough, I was successfully integrated into the
management team.
Managing
stakeholder
expectations
(Playtex)
Whilst the need for cost control was understood Marketing needed a
better way of recording costs, rather than in a format which was only
of use to Finance. I successfully addressed this problem by seeking
Marketing’s involvement in the design and development of a new
cost reporting system that met both Marketing & Finance
requirements.
Lack of
experience of
my team
(Chase)
The Finance Director (FD) had a reputation of being a hard task
master who often had unrealistic expectations. Care & tact was
required in these expectations due to the lack of experience of the
finance team. I addressed this through regular meetings,
confirmation of understanding of requests and seeking the FD’s
involvement in the development of solutions.
New approach
to Reporting
(Chase)
There was a perception that the performance reporting process kept
score rather than providing useful decision support information for
management. The challenge was to balance the demands for
producing monthly reporting whilst developing and implementing
improvements. Due to the inexperience of my team I undertook the
development of improvements myself in consultation with interested
stakeholders. I then involved my team in progressing these when
they had capacity to do so.
Managing
stakeholder
expectations
(Abbey)
I was faced with high expectations and a tight timeframe to deliver a
solution. I persuaded the Sponsor that the best way forward was to
develop a PC based solution, rather than the previously favoured,
mainframe solution. I then formed a cross functional working party
to participate in the development and implementation of this system.
This obtained buy-in.
Shulton (toiletries)
The Overseas operation involved the management of distributors and
agents in a number of markets, the largest being in Europe. The
products were sourced from two locations in England and Holland.
I was appointed as Finance Manager with responsibility to provide an
effective financial service to Overseas management, as well as
ensuring proper financial control was maintained.
Playtex (lingerie) The Finance division was based in Scotland whilst the sales &
marketing team were based in the south of England. A new Finance
Manager position was created to be based with the Sales & Marketing
team. I was appointed into this position.
Chase Manhattan
(Chase) - Financial
Services
There had been a complete replacement of staff following the decision
by the company to relocate its support services from London to
Bournemouth. I joined the company at the time of this relocation.
Abbey Life (Abbey) -
Financial Services
The business had a need for reliable costing information to support
product costing, actuarial and embedded value reporting calculations
A new FD had been appointed and this was his immediate top priority.
I was commissioned to manage this project & had no previous costing
experience.
Go to page
Page 12
( 07917 691264
+ [email protected] Richard Allan Hills FCCA, AMBA
Agreed recommendations for correction of unsatisfactory conditions and to make
improvements in operations. (Cyanamid)
Improved financial controls at subsidiary (Montague Meyer)
Miscellaneous Achievements Project & line management of various initiatives during the late 70s & early 80s
Background
Achievements
Challenges
Steep learning
curve
(Cyanamid /
Montague
Meyer)
In both cases I was diving in at the deep end where I had
not yet learnt to swim. I addressed this lack of experience
& need to get up to speed quickly by consulting others for
guidance & support, where required, as well as accessing
my own learning material.
I adopted a style of applied learning and was happy to
experiment with new ideas and learn by my mistakes. I
regularly sought feedback and did not wait for it to be given.
Finally, I was prepared to put in whatever effort was
required to get a result.
Build trust &
confidence
(Montague
Meyer)
I addressed my lack of experience by projecting a calm
image to staff whilst buying time to decide out how best to
solve problems. I would not expect staff to do something
that I was not prepared to do myself. Through
demonstrating that I knew what I was talking about, and
projecting a calm image, I was able to quickly build trust &
confidence.
Cultural
differences
(Cyanamid)
We were often dealing with people from a different culture
& background to our own. I adopted a consultative, non
confrontational style where through the frequent use of
open questions I was able to collect a lot of data quickly.
This enabled me to decide on appropriate coping strategies
and how best to build relationships.
Cyanamid
(Pharmaceuticals)
A new internal operations audit department had been established in
the UK with responsibility for Europe, Middle East & Africa. I joined
as a junior auditor with no previous audit experience. Assignments
were mostly in Europe, where not everybody spoke English. I was
viewed as being the German expert on the strength of having studied
German at school.
I progressed to senior auditor where I took charge of my own audits.
Montague Meyer
(Timber)
There had been a deterioration in the collection of sales ledger,
settlement of accounts payable balances, and wages control resulting
from the introduction of new systems and staff turnover. In addition
the General Ledger was incomplete and not up-to-date.
Having just completed my accountancy studies I had no experience
of managing an accounts office. I saw this as an opportunity &
volunteered to take on the vacant role of Divisional Accountant & sort
out the problems. My request was accepted and I fulfilled the role for
two years.
Go to page