Projects and change professionals continue to add value working in external consultancies and offering bespoke change management advice and process implementation to banks, but did you know banks are also building their own in-house consultancy functions?
As an experienced change consultant you could benefit from the security and consistency of working within an internal consulting team while still working on a wide range of projects.
“Internal consulting functions focus on discovering issues or delivery problems and provide strategic advisory services to particular business leaders. Their advice is valued by colleagues, arguably more-so than that of an external contractor who has built no relationship with stakeholders,” says Ben Litvinoff, Manager of Projects and Change Management recruitment at Robert Walters.
How do internal consultancies work?
Internal consulting functions focus on discovering issues or delivery problems and provide strategic advisory services to particular business leaders.
The work of the team is managed and time is charged back to the business area within the bank that has received the services – exactly as an external consultancy would operate. There are now internal consultancy functions in increasing numbers of banks which is leading to more available job opportunities for both contractors and permanent project and change professionals. These roles can be focused on working for a specific business area – from investment banking to retail banking – or have a broader group-wide focus.
Who sits within the teams?
Many of these internal change consultancy functions are made up of former management consultants, strategic leaders and those with strong levels of subject matter expertise that has been gained within the specific environments. This could be the right move for you if the opportunity to work on highly visible programmes within a bank appeals to you and you are capable of operating at a strategic level. External consultancies provide strong resources to change programmes but sometimes lack the potential to lead and engage in order to deliver change.
Other areas to specialise in
There is increasing demand for project and change management professionals who are trained in Lean, Six Sigma, Agile and Waterfall. Have you considered becoming accredited in these? Read our article explaining how training in these methodologies could enable you to earn more in your next role.