Moving from Strategy to Execution

Given the breadth of initiatives envisioned by the Bank, a dedicated Corporate Transformation department has been established, staffed with highly skilled new hires and redeployed internal personnel. The department is focused exclusively on the implementation of big-ticket cross-functional projects (e.g., centralised processing centre deployment, implementation of new Bank structure and critical enablers) as well as co-ordination and performance tracking of major transformation initiatives across the Bank through its Programme Management Office (PMO). Several minor initiatives are also being run at a business unit/function level and performance against these initiatives is tracked and utilised in business unit and individual appraisals.

FirstBank believes strongly that execution capabilities are as important as the setting of strategy. Therefore, the Bank is making significant investments to ensure that the right leaders and project management skills are developed in-house, while selectively utilising third parties to support both planning and implementation, where warranted.