Deanna Oppenheimer shares her secret for leadership

1. Deanna Oppenheimer
CEO, CameoWorks
Photo by: http://www.archdaily.com/148680/torre-diagonal-zero-zero-emba
1

2. The old way of doing business is
changing.
Bank leaders should consider
changing how they organize and
Let’s talk about…retail banking
changing how they organize and
operate:
… Leading on the Diagonal
Why?
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3. behaviorsour are changingbehaviorsour are changing
3

4. Communication shift:
• Societal changes often lag technology changes
• Now they are catching up
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5. Digital everywhere
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6. Innovation Cycles Compressed
1.5
Years
iPad
2010
3.5
Years
Facebook
2004
12
Years
Google
1998
17
Years
Internet
1993
27
Years
Mobile
1983
38
Years
Radio
1958
Time to Reach 50M Active Users
Source: Bain and Company
201020041998199319831958
??
Years
Next
generation?
?
7
Years
Social media
10
Years
Mobile
banking
15
Years
Online small
business
banking
20
Years
Online
consumer
banking
26
Years
ATM
channel
Time to Reach 70% Household Penetration
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7. Digitalization driven disruption
in Retail Banking
Future:
Digital advice, complex
sales, customer engagement
Digitalization
Phase 2
Phase 3
Source: Bain and Company
Past:
Automation of cash handling, electronic
payments and online transactions
Present:
Ubiquitous connectivity, mobile
transactions, simple sales
Time
Phase 1
Phase 2
Current Frontier
ILLUSTRATIVE ONLY
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8. Banks must deliver a digitally enabled
customer experience:
• Through a true omni-channel model
Bain has stated it correctly……
• Through a true omni-channel model
• Enabled by technology
• Funded through productivity
• Delivered through the line
……And that is why we need:
8
Source: Bain and Company

9. Photo by: http://www.archdailey.com
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10. Hierarchy is useful and
necessary but…
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11. …informal networks
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lead to most strategic change

12. ExCo
Geographies Products Functional Leaders Business Lines Channels
The diagonal organization
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13. Photo by: http://www. Dangerousintersection.org
What does it look like internally?
• Give diagonal groups real authority
• Engagement from all members – a ‘get to’ mentality vs.
a ‘have to’ mentality
• Use a market based approach for innovation; think
internal venture fund
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14. Authentic communication that is
targeted and consistent
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• Information sharing and transparency
• Authenticity means being willing to make yourself vulnerable

15. Photo by: http://www. yoga-balance.ca
Relentlessly simplify:
• Meeting structure
• Accountability
• Processes
15

16. Reduce extraneous metrics
Economic
value
covered by
metrics
16
Source: Bain and Company based on client experience

17. Expect the ‘Hat Trick’
You need at least three
out of five (with the
first being mandatory):
• Improved the customer
experience
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experience
• Save costs
• Strengthen controls
• Streamline operations
• Increase revenue
Everybody plays;
sitting on the bench is
not an option

18. What does it look like externally?
Photo by: http://www. Dangerousintersection.orgPhoto by: http://www. bmg-3.com
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• Source of innovation includes third parties; effective partnership
with smaller companies is a key capability
• Think diagonally with all stakeholders: regulators, unions,
communities

19. Results: Strong employee engagement
Net Promoter Score (NPSSM) = % Promoters - % Detractors
How likely would you be to recommend your organization as
a place to work to a friend or relative?
*Net Promoter ScoreSM is a metric for employee engagement and measures Promoters (score 9-10 on question) and Detractors (0-6). It is the difference between the percentage of
promoters and the percentage of detractors.
Source: Bain decision and org effectiveness database 2013 (n=225)
19Source: Bain and Company

20. Results: Increased decision effectiveness
drives the bottom line
5 YEAR REVENUE
GROWTH
5 YEAR AVERAGE
PROFITABILITY (ROIC)
5 YEAR TOTAL
SHAREHOLDER RETURN
Confidence level = 95% Confidence level = 96%Confidence level = 99%
Note: High decision effectiveness range = top quintile of “decision effectiveness scores”; Low/Mid = all other; Growth 2001-2006
Source: Worldscope; Bain decision and organization effectiveness survey
20Source: Bain and Company

21. Re-capping the journey
• Formal heirarchy
• Unrecognized talent and ideas
down in organization
• Diagonal groups for strategic
change
• Cross functional working groups
bring people from all levels
Traditional Approach Diagonal Approach
down in organization
• Complex reporting
• Top-down communication, lost
messages
• Too many meetings
• Company does it all
bring people from all levels
• Simple metrics
• Communication up, down, across
the diagonal; short and sharp
• Implement R.A.C.I (Responsible,
Accountable, Consult, Inform)
• Collaboration and partnerships
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22. Acknowledgements
All data provided by Bain & Company.
For more on this topic see:
• Decision Driven Organization
http://www.bain.com/publications/articles/dec
ision-driven-organization.aspx
22
ision-driven-organization.aspx
Contact Info:
• www.cameoworks.com
• info@cameoworks.com
• + 1-206-906-9536