From reactive to proactive

How an operational review helped a regulator adopt a preventative-focused approach.

The role of the regulator has attracted significant attention recently, brought on by the findings of various public, judicial, and parliamentary inquiries. At the core of this is the role regulators must play to ensure they minimise harm to the community while also contributing to a stronger economy. To achieve this, regulators need to be confident that they have the tools, processes, and capabilities to meet these community expectations.

That is exactly what a leading regulatory organisation did by recognising the need to transform its operating model to one that struck the right balance between enforcement penalties and proactive education/prevention. A newly appointed executive engaged Davidson to document the current state of its regulatory operating model so that it was better positioned to become a risk-based regulator. Led by a national partner with deep practical regulatory experience, the team worked with the client to co-design the strategic initiatives that would support its move to becoming a contemporary and intelligent regulator.

Challenge

This regulator needed to transform its operating model from one that focused on enforcing regulations to one that was more focused on prevention.

Davidson's Business Advisory team was engaged to revamp the organisation’s strategy and then to review its systems, data, services, structures, and capability to make the transformation.

Approach

The Business Advisory team utilised their deep regulatory expertise and methodologies, specifically tailored for regulator reviews, for a three-month engagement.

To ensure a thorough view of the organisation, the team facilitated of series of face-to-face workshops and designed and tested against a maturity assessment, as well as an all-staff survey.

Solutions

The team identified multiple solutions including:

180-day plans for each of the executives to focus on immediate areas for improvement.

Based on the insights from the discovery workshops and survey — against the backdrop of our operating methodology — we gave advice across six areas:

Processes

Organisational structure and governance

Systems

Data and insights

People

Purpose

At Davidson, we see our partnerships as being for the long-term. We are committed to going the extra mile to achieve results that deliver sustainable outcomes, and we bring people with practical experience to our clients.

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