T. Rowe Price is currently executing on an ambitious change agenda in alignment with its strategy and in response to shifting industry dynamics. The Enterprise Change Office (ECO), formed in 2013, is the driving force behind the execution of the portfolio of programs across the firm that together comprise this change agenda. It is also responsible for building and fostering T. Rowe Price’s core program management capabilities throughout the organization.
The leader of the ECO, reporting directly to the Chief Financial Officer, is responsible for:
Providing expert change skills (predominantly large-scale, complex program and project management expertise) to the most important projects in the T. Rowe Price portfolio (as defined by cost, risk, opportunity and complexity)
Defining and ensuring consistent application of best practices for program and project management across the firm’s business lines and functions around the world, including but not limited to: business benefits definition, budgeting, chartering, status tracking, progress gateways and benefits realization tracking
Acting as a ‘second set of eyes’ across key programs to; Provide an independent view of progress and management of those programs to the Executive Sponsors, the Risk and Operational Steering Committee (ROSC) and the firm’s management committee (MC). Ensure that business unit (BU) portfolio managers, operating sponsors and executive sponsors are either living up to the expectations of those roles or are getting the help needed to do so
Helping businesses take more accountability for their own change portfolios and building embedded program management and change capabilities over time.
This is a wide-ranging role that requires fostering a broad set of relationships across T Rowe Price to be effective. A broad understanding of, and exposure to, all of the businesses and functions of the firm will therefore also be important. The leader of the ECO will have the ability to deliver on all aspects of large-scale change during an exciting period of international growth and modernization for T. Rowe Price. S/he will be expected to build project and program management capabilities across the firm, establish standards, manage conflict within program execution, and establish clear and consistent metrics and reporting. This position has overall leadership responsibility for business process improvement practices, project management discipline, and firm wide execution capability standards.
Partner with leaders across the firm to drive execution of T. Rowe Price’s portfolio of change programs on schedule and on budget
Partner with the Head of Enterprise Strategy to prioritize the change portfolio and ensure that it aligns to the firm’s strategy. Help define criteria by which projects will be driven by the ECO and benefit from ECO project management resources vs executed independently by the business
Provide a governance structure to ensure that each change initiative has sponsorship and accountability at the appropriate levels of the organization
Act as an escalation point and/or provide advice and recommendations on resolution of issues, gaps, impediments, etc. Work closely with leadership in all business functions to help achieve and continuously improve effective and efficient operational execution
Communicate and report on the health of change portfolio to all appropriate governing bodies including the ROSC (Risk and Operational Steering Committee) and the Management Committee, with a focus on programs experiencing delays, budget changes or changes in anticipated business benefits
In partnership with FP&A, strengthen the project initiation process through robust business cases capturing both anticipated costs and project benefits including leading and lagging KPIs. Help teams clearly articulate key business outcomes, verify that the capabilities and pre-conditions to execute the project are in place, highlight key risks, and capture milestones and metrics to track execution progress
In partnership with FP&A, strengthen the firm’s project and program cost tracking and forecasting, and prioritize additional funding requests
Develop a workforce planning capability to facilitate more accurate project and program planning and resource and SME gaps
Help build the broad organization’s change, program and project management capabilities
Strengthen the firm’s Business Process Improvement knowledge
Foster a results-oriented, accountable environment within the ECO and more broadly at T. Rowe Price
Collaborate with Communications to establish messaging that engages all levels of the organization with the firm’s strategy and change agenda.
Change and Program Management Experience
Proven long term excellence and experience in leading complex projects and programs including transformational change program across multiple stakeholders and business units
Proven track record in establishing and implementing portfolio, program and project management practices.
Deep knowledge of all the aspects of successful project and program management
Demonstrable experience of setting long term plans within business operations and financial analysis
Lean and Six Sigma a plus.
Financial Services or Strategic Consulting Experience
Financial services or consulting experience is required.
Asset management experience a plus
Experience leading large teams and organizations. Strength in leading and developing teams, especially within a fast-paced, analytically-sophisticated environment.
Inspirational and motivating. Ability to unify an organization around a strategy that is focused on consistent, high quality execution of a critical change program to achieve organizational goals.
Determined leader with strong sense of accountability and ownership who tirelessly drives execution.
Develop executable succession plans for key roles in the ECO (including this role).
A ‘hands-on’ empathetic leader with proven talent management skills.
A collaborative communication style and ability to build relationships necessary to support and challenge sponsors of key programs and to deliver results.
Direct feedback, strong influence, and negotiation skills.
Well-developed emotional quotient (EQ) and cultural empathy are important soft skills when establishing oneself as a new leader in T. Rowe Price.
Strong commercial judgment and the ability to analyze highly complex facts or situations, to summarize the results in a logical and concise manner, and to present recommendations for action to senior management. Comfort with ongoing interaction and partnership with senior leadership team. An ability to assimilate many project/program execution factors against an evolving corporate strategy.
About T. Rowe Price
T. Rowe Price Group, Inc. is an American publicly owned global asset management firm that offers funds, advisory services, account management, and retirement plans and services for individuals, institutions, and financial intermediaries.