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Maximizing Compliance through Agile Transformation
A Case Study of Successful Program Management in a Large Bank
January 2023
Client
Nordic Bank
Services
Program manamgement Product management Agile advisory
Industries
Financial services
The problem
Meeting the new regulations from ECB would involve a significant undertaking spanning multiple years for the client, involving several hundreds of IT employees and personnel from the business side. Additionally, the technical landscape was complex, consisting of more than 20 legacy systems, some of which required replacement and others required significant updates to attain compliance. It was evident that the program required high attention on organization, synchronization, and ways of working to achieve success.
Our approach
To deal with the complex nature of the project, an Agile program structure was established. This involved adapting best practices and frameworks, such as SAFe, to suit the client's specific context and requirements. Standardization was also established related to processes and language with a shared approach across workstreams. Confluence was used for communication and status updates and JIRA was used for Agile planning, with a shared funnel for any new emerging requirements. Due to the high complexity of the project and the need to manage internal and external dependencies, PI planning was used to synchronize all workstreams on a quarterly basis.
Through extensive training, a considerable amount of time working together, and having effective ambassadors to champion the methodology, the adoption and execution of the Agile approach now runs seamlessly within the teams and workstreams.
Our impact
Our program management approach continues to ensure that regulatory expectations are met on schedule. As the project progresses, we are seeing the results of a more modern tech stack, with some systems already replaced, and others being amended. Furthermore, the project has also been focused on improvements in data governance and data quality, creating new opportunities for the future. Through effective synchronization of workstreams, we have been able to ensure an efficient delivery of the project. Time and quality remain crucial aspects of the project, and we are confident that the selected approach will continue to ensure that these are met throughout the project's duration.
