Executive Corner Meeting demand for change management professionals by Ella Lee Rapid developments in the business world have created new roles for experts in implementing change As the challenges of the business environment become more complex, companies must keep evolving and ensure that professionals have the skills essential for managing both change and risk. This is particularly true for ever-expanding industries such as banking, finance and logistics, where new systems and amended work practices are a constant consideration. According to Juliana Li, principal consultant of ProJob21.com Ltd, banks are now putting more resources into recruiting change management professionals to drive strategic changes. Their responsibilities extend from enhancing systems and workflow efficiency to running new business and product initiatives and keeping costs under control. Specialist roles in risk management have also taken on greater importance. This is an emerging area that involves applying and monitoring tighter internal controls to reduce operational losses, minimise future risks and identify illegal activities. Senior consultant Victoria Lam says that change management is now the key issue in the supply chain industry. "Because of globalisation and keener competition, companies have to optimise their sourcing and business processes," she explains. "The objective is to enhance operational efficiency and, for this, there are different methodologies such as Six Sigma, TQM (total quality management), BPR (business process re-engineering) and ERP (enterprise resources planning)." Ideal candidates Although new positions are being created, there is a limited supply of experienced professionals in these areas. "Ideally, employers prefer candidates with industry experience and relevant exposure," says Ms Li. For example, the head of operational risk management in a bank should have extensive experience plus project management and influencing skills. Moreover, candidates must be familiar with banking practices, compliance and basel II regulations, internal workflow, and processes used in the front and back office. It is, though, hard to find people with this combination of talents. Therefore, ProJob21 also helps clients find candidates with the kind of highly transferable skills learned in Big Four accountancy firms or with management consultancies. Such people understand the regulatory environment and have project management skills which are needed to identify different levels of risk and formulate appropriate controls. Multinationals specifically require candidates with business acumen and exceptional management skills to improve their supply chain processes. "They are usually trained in industrial engineering, logistics or other business disciplines with at least eight years' relevant experience," says Ms Lam. Applicants who have worked as external consultants on supply chain projects for international manufacturing or trading companies also stand a good chance. They are assumed to understand the key business processes and the emerging technologies so that they can recommend operational enhancements. Search procedures When helping clients to fill change management roles, Ms Lam makes sure the job requirements and complexities are fully explained. "We must know many things including the main purpose of the position, scope of work, lines of reporting, and whether it is a regional or global role," she says. "We also ask about peers, team members and other significant internal and external relationships, as well as the immediate challenges and long-term career development." Besides that, Ms Lam will conduct thorough research into the client company's value chain, business direction, market positioning and corporate culture. All of this information helps when offering professional advice about the availability of candidates or commenting on expected compensation packages. It also makes it easier to present the opportunity to potential candidates, who will want to know about the attractions, as well as any possible down side. "We help candidates to understand the prospects and foreseeable challenges, and prepare them for interviews," notes Ms Li. For most of the positions on offer, candidates will have three or four interviews. However, for the most senior roles, there could be seven to ten, involving meetings with the prospective boss, business heads, future colleagues, and counterparts from regional or corporate headquarters. "There could also be videoconferences, phone interviews, presentation tests, or group assessments," says Ms Lam. "Therefore, we make the purpose of each meeting clear to the candidates and advise them on how best to prepare." Ms Li adds that, for a successful placement, it is necessary to gain the trust of clients and candidates and encourage open communication between the various parties. It is also advisable to take a long-term approach by proactively following up on feedback to develop a better understanding of requirements and expectations. In demand Increasing demand for change and risk management executives in banking, finance and logistics The best candidates are all-round professionals with knowledge of products, industry practices, operational workflow and strategic development Good communication and project management skills are essential Recruitment consultants aim to create trust and open communication between clients and candidates to ensure successful placements Taken from Career Times 22 September 2006 Your comments are welcome at [email protected]