Regulator Risk Reports, both State and Federal, have expressed growing concerns about the risk implications of existing change management processes. Reports of recent regulator criticisms suggest that the concerns are evolving into actions, and industry leaders must heed the warning. While many businesses today apply established change management practices, they’ve often been limited to education and messaging. In other words, business leaders identify a change critical to enabling the strategic direction of the firm (e.g., regulatory, product, operational efficiency, technology), and provide the associated training and communication to implement that change. North Highland applies a more comprehensive change management framework, involving seven interconnected components that help to manage risk and drive lasting results: Change strategy: Creating the case for change and fostering an understanding of that change. Sponsorship: Garnering commitment – Impacts and readiness: Identifying organizational changes Business involvement: Sparking excitement around new ways of working. Communication: Delivering the right information to the right people at the right time Capability: Instilling the new skillsets and tools to enable success Sustainability: Driving adoption and making the change “stick”