coo playbook introduction
TRANSCRIPT
Antony Turner Sept 2017, Work in progress
The COO Playbook Smart Execution
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Introducing Antony Turner, the creator of the COO Playbook Two Fintech startups and 20+ years experience at leading European banks
20+ years at the largest European banks
(UBS, Barclays, Credit Suisse, ABN Amro, BNP Paribas and
HSBC)
Led initiatives in Technology,
Information Security, HR Transformation,
Vendor Management, Mergers & Acquisitions, Electronic Trading and
Digital Banking
Previous roles include: Chief Operating Officer, Program Director and
Chief of Staff
Two FinTech start-ups (BiBox and LMRKTS)
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Smart execution turns ideas into reality
☺ You’ve identified a new disruptive technology or a new business model
But its execution (implementation) is not going as well as it could (too slow, too expensive…) ☹
The COO Playbook
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Some war stories…
Talented individuals but no team
! Poor coordination ! Slow product development /
distribution
Too many initiatives / projects
! Initiatives poorly resourced ! Duplication of effort ! Slow time to market
! Poor leadership and accountability ! Limited cost transparency ! Poor allocation of resources ! Slow time to market
Product managers not empowered
! Poor engagement with stakeholders
! Poor leadership of agile teams ! Slow time to market
No mandate for teams
! Conflict / turf fighting ! Slow response to requests ! Slow pace of transformation
Example case study ! Impact
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Business case not understood
! Poor allocation of resources ! Limited organizational commitment ! Slow pace of client adoption
Mistakes consistently repeated
! Limited learning ! Unnecessary cost ! Slow time to market
Business and IT structures not aligned
! Short term focus ! Lack of industrialization ! Slow time to scale
Legal and Compliance out of synch
! Slow product development ! Slow client adoption ! Slow time to market
Positioning of data analytics
! Duplication of efforts (MIS) ! Not embedded in product development ! Limited understanding of client activity ! Business case not tracked
Example case study ! Impact
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No plans to scale
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A practical and holistic model Based on experience
"Vision without action is a daydream. Action without vision is a nightmare.” — Japanese proverb
" The COO Playbook is purposefully designed to build smart execution capability " A holistic model to define and execute a strategy " A description of all the key components (from vision to performance) " A checklist of success criteria " A plan for building each component " Examples of how components are inter-connected " 100+ pages of content
" Simple, practical advice from experience working in start-ups and financial institutions. Continuously improved through exchange of ideas
Teams Operating Model
Strategy
Communication Performance
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Playbook Components and Connectivity
KPIs Milestones Risk Management
Systematic Reviews
Rewards & Recognition
Dependency Management
Performance
Accountable Leads
Purpose and Mandate
Skills / Diversity
Team work Resource Planning Role Clarity
Teams Operating
Model Joint
Business & IT Teams
Product Management
Legal, Compliance
& Risk Data
Analytics Prototyping
Operating Model
Comms Plan Stakeholder Management
Culture Marketing 1-2-1 Meetings
Communication Collaboration
Leadership Vision Business Case
Execution Plan Governance Organisation
Structure
Strategy
Keeping it simple
Prioritisation & focus
Execution, day-to-day
Acting with conviction
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Sample
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100+ pages of content
Teams Operating Model
Strategy
Communication Performance
KPIs Milestones Risk Management
Systematic Reviews
Rewards & Recognition
Dependency Management
Performance Systematic Reviews
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Systematic Reviews Speed of learning drives faster execution
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Success criteria
Plan, Action, Review embedded in culture
Frequent performance reviews (e.g. every 2 weeks)
Tight agenda (see overleaf)
Constant learning
All key activity is measured and tracked
Key components
Teams Operating Model
Strategy
Communication Performance
� Open Communication
� Connectivity and alignment
� Focus
� Data Analytics � Teamwork
� Continual review and research
Example Agenda (60 mins)
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Systematic Reviews Example agenda
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Inputs
! KPIs ! Milestones ! Stakeholder perceptions
Teams Operating Model
Strategy
Communication Performance
Outputs
! Actions for team ! Lessons learnt to share
with other teams
Time Activity Who
5 mins Objectives1. Performance data Leader
10 mins Top 3 things that went well for individual.
Top 3 things that could be improved. (Not for sharing)
Individuals
15 mins Top 3 things that went well.
Top 3 things that could be improved. (For presenting to rest of team)
Small groups2
20 (4 x 5 mins) Each group presents results back to team Team
10 mins Summarises lessons learnt for team Captures 3 key actions Leader
1. Looking back over the last 2 weeks, what could be performed better next time? How to increase time to market? How to remove barriers?
2. Groups of 4 people
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Week 1 Week 2 Week 3
Establishing systematic review process
Define overall framework and
process1
Signed off
Syndicate and sign off
Brief / train key staff involved in the
process
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Teams Operating Model
Strategy
Communication Performance
Communicate process
Hold first 1 or 2 performance reviews2
Review lessons learnt. Adjust plans.
Adjust on-going process
1. Including roles and responsibilities
2. A pilot and phased adoption / rollout could follow
3. Objectives, agenda, participants, location, data/bus intelligence input required, outcomes, actions
Setup on-going reviews3
Communicate first outcomes
Setup complete
On-going reviews, lessons learnt, planning and actions
Timeframes are illustrative
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This is different Smart execution: delivers, learns and adapts
Simple and Practical
Scalable Key Elements Best of Both (program management & agile)
New Ways of Working
Based on Experience