Integrating Multinational Cultures into One High-Performing & Agile Culture - Ana María Echeverry Corporate Director of Organizational Culture ...
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Integrating Multinational Cultures into One High-Performing & Agile Culture Ana María Echeverry Corporate Director of Organizational Culture Sura Asset Management
Our Speaker & Moderator
Our Speaker Our Moderator
Ana María Echeverry Felipe Monsalve
Corporate Director of Consultant & Leader of
Organizational Culture, the Organizational
SURA Asset Management Culture Practice,
TRI Latin America
| |
Organizational Culture
01 Retrospective
02 Culture – Where to begin?
03 Our journey
Agenda 04 What We have learned
Retrospective
Who We are Company based in Latin America, with over 9,000 employees who help individuals and organizations achieve their dreams and their goals Pension Funds – Retirement Savings Asset Management Investment Management
SURA Asset Management was created in 2011 as a subsidiary of Grupo SURA, within the framework of the acquisition of the assets, owned by ING, in the Pension, Life Insurance and Mutual Funds businesses in Chile, Colombia, Mexico, Peru and Uruguay, acquisition completed on December 29, 2011. However, this history dates back to the early 1980s with the implementation in Chile of the individual capitalization systems, where in 1981, the Sociedad Administradora de Fondos de Pensiones Santa María S.A., today AFP Capital, was established. During the following years there were several important milestones that gave rise to the international operation that today is SURA Asset Management, with presence in Chile, Colombia, Mexico, Peru, Uruguay and El Salvador. Our History
What we do
#1 Pensión Fund in
LATAM
+480 Investment solutions and products
+20,3 Million Clients
21.9% Market Share AUM
USD 153 bn
+35 Years of experience 9,000 Employees
Culture Where to begin?
First Step What do we have in common? Regional Local
What culture do we need? Respond to the Corporate Strategy - In the short and long term Represent what is common to all of us, but at the same time makes us different – “the mind of the Organization” That encourages and motivates collaborators to see themselves as a reflection of it ¡Culture is our fingerprint, our essence!
Our Journey
First Step: just listen
Top Management Middle Management Employees
• How long have they been
with us
• Role orientation
• Geographic location* Visual concept
In SURA AM we are
people focused,
with tangible customer
orientation,
where trust matters, with a
long term view, flexible,
innovative and based on
common principlesTakeaway # 1
Culture is not the sole responsibility of
Human Resources
It is not an isolated process and is closely related to the
way the organization operates, makes decisions and
obtains its results.Our Journey
How to move from A to B?
Quantitative + Qualitative
Symptoms What We need to
manage and how
to manage itEvolution
2014
Clear areas of opportunity in
terms of adaptability,
customer focus, and
organizational learningWe needed to be
faster, tougher,
less cautious…
All within a highly
regulated,
controlled
framework.Visibly culture-related
How this comes alive practices
Consciously
intervene How we do things, how we
make decisions
each level of the
organizational
culture
How we think2016 2018
+11 +12
+7 +5
+5 +8
+6 +8
+10 +14
+4 +4Culture enables performance…
AUM 153.6 Brand Recognition
147.5
126.5
66% 66%
123 62% 63%
103 54%
48%
45%
2016 2017 2018 2019 2020 2014 2015 2016 2017 2018 2019 2020Culture enables performance…
NPS Pension Funds
Clients 19,8
20,9
32%
18.7 -16% 2020
17
2015
NPS Savings and Investment
42%
18%
2014 2016 2018 2020 2020
2015What kind of challenge are we facing?
Technical Adaptative
Difficult to define (easy to
Easy to identify challenge
deny) challenge
There are no known
Clear, known solution
solutions in our repertoire
It is resolved on the basis of It is resolved on the basis of
authority or expertise.
leadership and group will.Takeaway # 2: Don´t be afraid to change If necessary New Declarations New Actions
2020 – a very challenging year
It is an achievement to maintain a
balanced growth among the 4
dimensions.
Despite all changes and a VUCA
environment (pandemic, law changes,
M&A projects, complex market
behavior), the perception of a
“stable” culture still remains, one that
responds to the strategy and a gives
clear common purpose sense.Takeaway # 3
By focusing your intentions on those
items of the radar that make sense or
respond to the strategy, others will
develop more smoothly.What We have learned
What We have learned
01 Ensure knowledge transfer regarding the model and how to
address the gap closure.
02 If we go together, we take longer.. but we generate
more commitment from local teams.
03 A good mix of cross-cutting and local actions must be
generated.
04 The quantitative element is only part of it... the richness
of the measurement lies in the conversations that
support the number and give you information for the
work plans.
05 Segmentation is keyTakeaway # 4
It Will always be a
progress
work in progress
will always be a work in¡Thank you!
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