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The 4 es

Expectations, engagement, explanations and evaluation

Key takeaway today:
Need to consult different people to create network for sense making.

The challenges of influencing strategically as a leader:

1) facilitation ky in his swat team 2) alignment 3) managing stakeholders

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Reflections
1. Using a new approach (syndication) to bond issuance
2. Crypto enforcement when rules are hardly in place
3. Not throwing out the old when you hit a difficult patch (exchange rate monetary policy) instead of jumping on bandwagon of change
4. New mandate at IBF

What's Next
1. Speaking to lots of people, getting alternative perspectives
2. Process of engagement itself can be helpful, you win some, you lose some, need to get comfortable meeting people who disagree with us
3. Managing/bringing people along to effectively make the change

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Need skill to rally people to fo more than their core work. What is core and non-core? Doing things for the organisation but non core. There is advantage in a stronger culture and common understanding. Drives common urgency. Leaders must be calm and understanding in the face of failure.

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Need skill to rally people to fo more than their core work. What is core and non-core? Doing things for the organisation but non core. There is advantage in a stronger culture and common understanding. Drives common urgency. Leaders must be calm and understanding in the face of failure.

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Difficult to influence the private sector. Being guided by thinking about the broader public interests. What ultimately is good for Singaporeans. If we don't do this nobody else would or can. How to influence our own people to do something about it. 

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Difficult to influence the private sector. Being guided by thinking about the broader public interests. What ultimately is good for Singaporeans. If we don't do this nobody else would or can. How to influence our own people to do something about it. 

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RMB clearing - wanted us to give QFB first without legal issues. CM, MD, DMD and ED had to convince by giving guarantee. Persuaded based on mutual interest and also personality being trustworthy.
Acted based on judgement call and careful analysis of balance f benefits. Resilience against scepticism. Take calculated risk.

Perhaps can aid narratives with quantitative, where possible. But sometimes data can be scarce.

Allow more latitude at beginning to imagine then as project go on increasingly focus on deliverable outcomes.

Difficult discussions can be resolved by one on one if required

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1. Having the time to think.
Deprioritisation, reprioritisation. Block off time.  To steer to higher strategic acumen.
2. Leverage on existing structure.  Mentor, mentee relationship. AMD coffee time.
Informal and small conversation instead of new platforms.
3. Whole ecosystem. Who implements the ideas of the strategic leaders?
4. How many strategic leadership? Roll up our sleeves. Protect the time of the strategic leadership.

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In setting up the 3 CMI depts, was initially modelled after BD, split by geographic basis, and each dept oversaw policy portfolios. But over time, officers were firefighting on supervision and licensing front, increasing external pressure on long service standards. A lot of resistance to overcome to address these problems through convincing, change management, changing views. In fact, it turned out that there were staff who took to licensing work, and it remained a stable team despite earlier reservations that people would not be attracted to join a pure licensing team. Takeaway- specialisation could, contrary to prevailing thought, be a positive and effective solution.

Amendment Language Processing System. Developed a system to help legislative processing work, from a simple "why cannot" question.

Legislative amendments for a huge SFA exercise was done through load sharing across multiple officers.

Insurance RBC2 was a long time in gestation. ID at that time was too concerned about getting it right, addressing all of industry's comments. With a fundamental pivot, and force of will, agility and willingness to deal with industry, the project was finally born, in 2020, when Covid hit. Through the growing pains, team was even able to initiate a transition plan on their own accord.

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Present your group's impactful sharings and key takeaways from the two questions.

[Include your group members' names.]

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How do we manage polarities :
- people vs performance - how to drive and deliver goals while keeping people happy
- BAU vs Crisis - how do we pivot and convince people to pivot from BAU processes and practices when needed
- change vs stability - how do we transform while not disengaging those who are resistant or can’t catch up

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1. Being clear about the ultimate outcome.

Covid. Remove gloves. Transfer manpower. The conviction to make change.

Company shift towards retail.

The necessity of change.

2. Be unafraid to ask questions even if not expert.

Find some space to step away.

Identify strategic staff