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Visionary Voices

The Transformation
Shift

From Modernization to True Transformation

Jen Garcia
Director
Financial Services

In our latest Visionary Voices conversation, we sat down with Jen to discuss the unique challenges facing banks and insurers in today’s fast-changing landscape. Jen’s experience in investment banking at J.P. Morgan laid the foundation for her deep understanding of the financial services industry. She helps banks and insurers tackle complex challenges—from modernizing finance functions to driving large-scale transformation initiatives. She is known for her ability to create clarity out of complexity for C-suite leaders.

Here’s what stood out from our conversation:

A Landscape Defined by Complexity

“There are SOX controls. There are audits. There’s ESG reporting. All of these layers are adding unprecedented regulatory burden,” Jen explains.

These aren’t isolated concerns—they ripple across every decision. From technology upgrades to process redesigns, every move must be evaluated through a compliance lens. At the same time, leaders are managing shifting macroeconomic forces, rising automation demands, and unrelenting cost pressures.

This convergence of pressures creates a uniquely difficult environment for financial services leaders—one that demands precision, agility, and strategic clarity.

In the last year, it’s become more about true transformation—rethinking how the business operates, not just making old things look newer.

When Information Overload Hinders Transformation

Another obstacle? The sheer volume of information financial services leaders are expected to process.

“Clients are inundated with updates on new technology. It becomes overwhelming, and it distracts from their core agenda.”

The result is a tendency to adopt solutions that are either too large and complex—or too narrow to scale—leading to misalignment and technical debt. The key, Jen emphasizes, is helping clients distinguish between transformation platforms and tactical point solutions.

Experience navigating major ERP and CRM ecosystems is now critical to making informed, right-sized decisions in this increasingly complex tech environment.

Moving Beyond Modernization

Financial services organizations have long been focused on modernization—replacing outdated infrastructure with updated tech stacks. But according to Jen, that mindset is shifting:

“In the last year, it’s become more about true transformation—rethinking how the business operates, not just making old things look newer.”

This means revisiting the operating model itself: investing in centers of excellence, shared services, and global delivery models that drive scale and performance. It’s no longer about upgrades—it’s about working smarter, automating more intelligently, and unlocking efficiency across the enterprise.

Clients are inundated with updates on new technology. It becomes overwhelming, and it distracts from their core agenda.

The Expanding CFO Mandate

The role of the CFO is also undergoing a profound transformation.

“CFOs are now expected to understand the value and impact of transformation and help drive it forward. They’re setting the business objectives for big data, global strategy, and AI.”

Gone are the days of static swim lanes between executives. Today, CFOs must collaborate deeply with CIOs, CTOs, and CHROs to align investment decisions with enterprise goals. Transformation is a shared responsibility—and increasingly, the CFO is expected to lead from the front.

“The CEO now expects the CFO to drive innovation, champion automation, and challenge how the business operates,” Jen notes. This includes rethinking shared services, optimizing offshoring, and adopting intelligent automation across finance and operations.

A Generational Shift in Transformation Leadership

As a millennial executive, Jen sees a growing generational mindset shift in how transformation is approached:

“It’s about not accepting the status quo. Just because it’s always been done a certain way doesn’t mean it should stay that way.”

She draws a parallel to Amazon—what began as a bookseller is now an ecosystem touching nearly every industry.

“The leaders who will win are the ones who look at everything—from technology to talent to operating models—and ask, What could be completely redesigned?

This openness to challenge foundational assumptions is becoming a defining trait of next-generation leaders in financial services.

Looking Ahead: Three Trends Shaping Financial Services Transformation

1

Technology Strategy: Fluency CFOs and business leaders must deepen their understanding of digital transformation strategy to effectively champion and govern enterprise change.

2

Regulatory-First Innovation: Successful organizations will develop nimble, repeatable processes to assess new technologies against regulatory complexity—enabling innovation without compliance risk.

3

Adaptive Operating Models: Scalable, flexible operating models will be essential for navigating economic shifts, evolving customer expectations, and accelerating digital adoption.

The Bottom Line

Financial services organizations must go beyond incremental improvements to embrace enterprise-wide transformation. By combining strategic leadership, regulatory acumen, and operational adaptability, they can unlock new levels of performance and resilience.

If you’re ready to undertake true transformation—let’s talk.

Visionary Voices is a segment of RGP’s LinkedIn newsletter, Mindshift. Each month we highlight a unique futurist who challenges us to think differently and to drive innovation. Mindshift also contains valuable research and curated content.

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