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�e CCO Transition Lab at
(DESIGNED TO HELP YOU FALL INTO THE OTHER 60%.)
40%
of all executive transitions fail in
the first 18 months.
The CCO Transition Lab at Deloitte is a one-day experience built to help position newly-appointed CCOs to hit the ground running and thrive in new roles. The agenda focuses on the three most important resources a leader must manage: time, talent, and stakeholder relationships.
The day is built around proprietary research Deloitte has conducted with regard to executive transitions, and culminates with a plan comprising four work streams designed to help you:
Define and communicate your prioritiesAssess and develop a talent strategy for your team
Understand and influence key stakeholdersDevelop a gameplan for your first 180 days
Executive Transitions
A single day for you to map the first six months of your journey.
Understand and influence Understand and influence
As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
In developing Deloitte's Executive Transition Program, we surveyed
more than 100 recently-appointed business executives from
companies with over $500 billion in combined revenues. Our
research has uncovered hidden insights about why transitions
succeed, but also why they frequently fail. We built the CCO
Transition Lab on a foundation composed of these insights.
Studying Executive Transitions
I need to market compliance everyday.
�ere is a need to play offense, but I am constantly responding and playing defense.
Too often, the urgent crowds out the important.
�e business rarely sees Compliance as a business partner.
Make sure you take timeto have conversationswith your key businessstakeholders on what theyreally need.
You have to take some peopleout fast, and make at least afew changes in the first three to six months in order to make sure it’s your team, and that your people are aligned with you.
From juggling unexpected demands to shaping the right team, three issues emerged in our research as clear drivers of success (or failure) in every transition:
Time, Talent, & RelationshipsA CCO'S CURRENCY
Crushing new demands will be made
on your time, and you must treat it as your most
valuable asset. What are your priorities, where do you want to spend your time, and how will you enforce
that?
CCOs who didn't make time to cultivate critical relationships later found those people became stum-bling blocks. Who are your impor-
tant stakeholders, and how will you communicate
with them?
Great talent not only makes you look good, but helps you make the most of your time. Often, a new CCO’s biggest regret is not moving fast enough on talent challenges and
opportunities.
TIME: TALENT:
RELATIONSHIPS:
The CCO Transition Lab at Deloitte.A PLACE BUILT TO HELP YOU ACHIEVE YOUR GOALS
The CCO Transition Lab is a confidential and open space where you can ask, ponder, and address questions that will affect your transition. A day-long experience includes a series of tested exercises that emerged from deep one-on-one conversations with other leaders in transition. In the Lab session, you’ll explore time, talent, and relationship landmines, and develop a detailed plan for success in your first 180 days.
THE LAB FORMULA
Research-BasedContent
BREAKTHROUGH
Consciously-Designed Environment
Movable panels, flexible furniture, and an intimate
space built to spark conversation.
Immersive Methods& Exercises
Custom-TrainedFacilitators
Diverse perspectivesfrom specialists selectedbecause they know your
challenge, industry, or business.
Relevant Subject Matter Specialists
Breakthrough ideas, aligned team, and defined next steps.
+ +
+
=
+
Frameworks built on empirical data, research, and cumulative learnings from 1,000+ Lab sessions.
Exercises based on behavioral research,team dynamics, and
conversationswith people.
Senior-level professionals specializing in
intervention, disruption, alignment, and
consensus.
1
What do you want to be remembered for?You want to leave a mark, and we begin the day exploring exactly how you’ll do that. Along with defining your legacy, we’ll examine your hopes and fears – as well as those of other stakeholders, like your CEO, CRO, or whomever your boss might be. The rest of the day will be geared around making your vision a reality.
Start With Your AspirationsHOPES, FEARS & LEGACY
WhatMatters!
FOCUS
Too often, the urgent crowds out the important, and the stuff that really matters gets placed on the backburner. Carrying the leadership torch requires a long-term vision that keeps the business strategy in sight. It starts by aligning where you want to go with where the organization needs to be. Then, you can decide which priorities and initiatives will advance your vision.
Urgent: It needs to be done immediately, but can distract from the priorities that will
advance the long-term agenda.
Important: Important: Important: It needs to be It needs to be planned now and executed over planned now and executed over planned now and executed over
the long-term because of its the long-term because of its the long-term because of its long-term strategic benefit.long-term strategic benefit.long-term strategic benefit.
2
Four Faces of the Executive FrameworkThe following Four Faces definitions will be used to guide a discussion of the CCO’s priorities.
Consider Where You Spend TimeTHE FOUR FACES MODEL
Risk Manager Steward
Strategist Communicator
CURRENT% (time allocation) (time allocation)
FUTURE% vs.
Promote a culture of ethics and compliance throughout the
organization
Lead organization-wide efforts to identify, prioritize, and mitigate ethics and compliance risks
Assume ownership and identify accountability for ethics and
compliance processes, controls and technology tools
Provide ethics and compliance leadership for the organization and its businesses
Leadership Perform
ance
ControlExecutionYOU
Getting to the heart of talent issues quickly is at the center of every transition success story. Figuring out which team members will advance your priorities is critical and needs to occur in an unbiased environment. As you walk through the Lab, exercises will reveal when “A” talent must be applied to a priority and where “C” talent could become a liability.
Assess Team & Talent IssuesYOUR ORGANIZATION CHART
What skills doyou need tomove your
priorities forward?
Should yousettle forB-teampeople?
High confidence
Medium confidence
Low confidence
How will you recruit and
renew talent?
Do you haveDo you havethe rightthe right
people in thepeople in theright roles?right roles?
Assess confidence in eachteam member’s abilityto execute your vision.
Who will youdevelop or
replace?
3
In managing relationships with key stakeholders, success will come from having a plan. Right away, you want to establish or strengthen relationships with people who matter, and then consider the major issues you'll be facing with them -- and how you'll tackle them.
Examine Relationships & In�uenceSTAKEHOLDER ANALYSIS
In this module, you will :
Ask what critical stakeholders want, and what they don’t want.
Brainstorm what strategies can be used to successfully influence your stakeholders.
Understand differences in communication styles, and learn to adapt your communications to the personalities of various stakeholders.
4
BoardMembers
Investors,Analysts,& Media
OtherFunctionalLeaders
Employees
ExternalPartners
Legal
InternalAudit
HumanResources
YourBoss
Regulators
photo of completed180-day plan in a Lab
Moving from intent to action requires a plan.Your day-long session in the CCO Transition Lab is designed to culminate in the creation of a customized 180-day plan. Your personal roadmap will be built around your top priorities, the actions you identified regarding talent, and the relationships that are required to achieve your objectives.
The plan will be pre-populated with relevant organizational milestones. It will include early wins and issues that require urgent attention, as well as long-term priorities that are important to the success of the organization and your legacy as a Chief Compliance Officer.
Get started on your personal transition plan. Contact your Deloitte Leader, Maureen Mohlenkamp at [email protected], or Betsy Besanceney at [email protected].
Your 180-day planPUT IT ALL TOGETHER
5
This document contains general information only and Deloitte is not, by means of this document, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This document is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional advisor. Deloitte shall not be responsible for any loss sustained by any person who relies on this document.
Copyright © 2014 Deloitte Development LLC. All rights reserved.Member of Deloitte Touche Tohmatsu Limited