Organizational restructuring and Re-capitalization Background: The client is a subsidiary of an organization, and involved in savings & loans for mortgages to facilitate homes ownership by Nigerians through a well-articulated, innovative and easily accessible mortgage finance system that guarantees security of deposits, soundness of operations and profitability to the stakeholders. It engaged FITC to carry out the restructuring of the organization to meet current organizational strategic objectives and enhance its operations significantly.
Solution:
• FITC carried out a review of the existing organization’s structure arrangement, sought to obtain clarity on job roles, reporting relationship and staff responsibilities, assessed the use of objective tools to profile and identify certain workplace behavioral attitude of the employee
• Clarified and redefined jobs roles and responsibilities, reporting relationships, and interfaces within and across business units
• Achieve overall buy-in, support and commitment that will be critical for the continued success of the new organisation
• Review and restructured the debts versus equity mixture using proven instruments
• Define and agreed clear implementation blueprint to migrate to the new structure and recapitalization recommendations
Results: Client was very satisfied with the diagnostic tools and approach utilized by FITC which brought about revamped operational processes, clear implementation blueprint to adopt the recapitalization recommendations and a new organizational structure. The organization was also pleased with the recruitment of suitably qualified candidates into the Job roles of Head Branch Coordination, Head ICT and Head Finance and Account observed during the course of completing the project.
Board Performance Evaluation Background: A key operator in the insurance sector with experienced professional Board of Directors, required consulting assistance in evaluating the performance of its Board, and assess its practices in line with emerging standards in the sector as promoted by the regulators regarding good corporate governance in registered insurance companies in Nigeria.
Solution: FITC designed a bespoke questionnaire which was administered, employed a behavioural assessment tool and face to face interview with the board members aimed at evaluating both quantitative and qualitative parameters of the structure, responsibilities, practices and processes, coupled with inter-relationships of the company Board. FITC thereafter facilitated a retreat where the findings from the evaluation were discussed and the organizations strategic plans could incorporate learning’s from the exercise.
Result: Client expressed satisfaction with the outcome improved performance in the market and the fair and intelligent methodology used by FITC to proffer solution to the needs of the organization. It has placed FITC on an annual retainer to provide periodic board assessment.
Director Level Recruitment Exercise Background: A regulatory agency in the financial services sector reviewed the portfolio of its director level positions, creating new positions for key strategic business areas in Information Technology, Human Resource Management, Medical Services e.t.c
Solution: FITC utilized its network of contacts in addition to an existing database to source for suitable candidates. The screening was also done using highly specific and reliable tools and guides which eased the process. Psychometric profiling for individual candidates and job roles, the decision making and obtaining approval for final candidates was done without hitches .
Result: Client was very satisfied with the criteria, skills and dedication of FITC, the profile of candidates and reliability our reports in decision making and arriving at the final selection of candidates that were eventually employed to occupy the vacant positions in the organization.
