WeSTPAC
aUSTRALIA’S FIRST BANK AND OLDEST COMPANY
the challenge
Westpac faced the challenge of addressing risk governance deficiencies identified by APRA, and needed to enhance its risk frameworks, clarify accountability, and cultivate a robust risk culture for improved customer outcomes.
With 19 programs making up the Customer Outcomes and Risk Excellence (CORE) program, a team of Enspire senior communications and change consultants worked across the business to help employees and leaders understand what they needed to do to deliver for customers through strong risk management and clear accountability and decision making.
the enspire touch
This included:
Rollout of risk accountabilities profiles: Our team of consultants collaborated with HR and Risk to implement My Risk Accountabilities (MRA) profiles, which provided employees with a clear understanding of the risks they are accountable for in their specific role. All Group employees were aligned with one of 15 MRA profiles.
To strengthen risk management bank-wide and ensure accountability, we supported the rollout of risk goals into employee performance plans. By the project's conclusion, more than 90% of employees had established risk goals.
Elevating decision making and accountability: Enspire consultants were embedded into HR teams to design tools, templates and training, which were rolled out to every employee at Westpac, and targeted some of the most senior leaders in the business. Detailed change and communications plans and content supported the programs, tools and events with consistent, clear communications and resources to ensure sustainability.
CEO & leader communication: We worked closely with Westpac's leadership team to develop strategic messaging and leadership communications. We also crafted communications to raise awareness and facilitate the rollout of the ‘Should We? Test’ and eLearning modules and sequenced and coordinated workstream communications to targeted audiences.
Employee communications and engagement: Enspire consultants were responsible for planning, writing and rolling out a range of employee communications. These included emails, newsletter content for Divisional newsletters, Yammer communications, intranet news articles, videos, SharePoint sites and user guides to new resources.
Comprehensive change plan: Our senior change consultants worked with the Transformation team to develop detailed change plans outlining CORE's various components and how the team would implement them. This plan provided a structured roadmap for Westpac's teams, ensuring a smooth transition into the new risk governance framework. It included change management strategies, timelines, and key milestones to track progress effectively.
Project communications:
Leader support: Provided support for leaders involved in the risk transformation, ensuring they could drive the necessary changes effectively with their teams.
SharePoint site design: Designed and built a user-friendly SharePoint site to facilitate easy access to essential CORE resources, training videos, engagement activities, news, and updates for Westpac employees.