Role of Risk in Change Management


The identified risk is the fact that teller connects are currently being implemented in SunTrust Bank to allow clients to access banking services remotely (Santana, 2015). Traditional banking allows clients to physically visit a bank and do their transactions. However, through SunTrust’s teller connects, the clients can use just video call a teller and do their transactions remotely through specific ATM machines (Santana, 2015).

We will write a
custom essay
specifically for you

for only $16.05 $11/page
308 certified writers online
Learn More

Despite being revolutionary, there are several risks that can be identified from the use of teller connects. One of such risks is the fact that there are some clients who go to the bank specifically to speak to a person. Today, there are many online services that clients use to make different banking transactions. The fact that they choose to physically visit a branch from time to time suggests that they are also interested in the person-to-person exchange.

Another risk that can be identified is the fact that, like all technologies, virtual teller connects can malfunction or even be hacked. This would put both the bank and the client at risk of losing money. This essay provides a risk matrix of several identified challenges that can arise from using teller connects. A risk response plan will also be shared to highlight several ways the identified risks can be mitigated.

3×3 Risk Matrix

3x3 Risk Matrix

Risk Response Plan

Yauger (2017) defines a risk response plan as a measure to eliminate or mitigate potential risk in project management. It is important that the risk response plan be developed before any risk is experienced. This will ensure that all the people involved are well prepared for the challenges they might face. Additionally, the plan can put everything into context and even allow the management, and all those involved, to seek opportunities within the identified risks.

This section of the essay will pick two risks that were identified in the risk matrix and develop a risk response plan based on the two risks. The two chosen risks are limited transactions (medium risk) and internal resistance (high risk). It is important to note that the current teller connects only accepts 30-dollar and 50-dollar bills or checks. Business people, who transact on a daily basis, find it challenging to use the virtual teller application as they have different notes that they want to bank.

Identified Risks Potential Responses Priority
Limited transactions One way to mitigate the risk is to enhance the ability of the machines to take more bills. As stated, many business people transact on a daily basis. Arguably, both small and mid-sized companies make the larger percentage of clients that visit banks every day. Making the machines more accommodating to such businesses and bills would ensure more users. Medium
Internal resistance This is an internal problem. It can be mitigated by ensuring that the tellers own the process of change. One of the major concerns for tellers is that they would lose their jobs when the teller connects are implemented. Whereas this is possible, management should ensure that all employees own the process of teller connects such that they (employees) feel obliged to ensure it succeeds at all costs. High


Santana, M. (2015). Technology helps banks meet consumers online. Banking Strategies Daily, p. 3.

Get your
100% original paper
on any topic

done in as little as
3 hours
Learn More

Yauger, V. (2017). When risk management meets risk realized: Mitigating project impact. PM World Journal, 6(10), 1–13.

Print Сite this

Cite this paper

Select style


StudyCorgi. (2021, July 17). Role of Risk in Change Management. Retrieved from

Work Cited

"Role of Risk in Change Management." StudyCorgi, 17 July 2021,

1. StudyCorgi. "Role of Risk in Change Management." July 17, 2021.


StudyCorgi. "Role of Risk in Change Management." July 17, 2021.


StudyCorgi. 2021. "Role of Risk in Change Management." July 17, 2021.


StudyCorgi. (2021) 'Role of Risk in Change Management'. 17 July.

Copy to clipboard

This paper was written and submitted to our database by a student to assist your with your own studies. You are free to use it to write your own assignment, however you must reference it properly.

If you are the original creator of this paper and no longer wish to have it published on StudyCorgi, request the removal.

Psst... Stuck with your
assignment? 😱
Psst... Stuck with your assignment? 😱
Do you need an essay to be done?
What type of assignment 📝 do you need?
How many pages (words) do you need? Let's see if we can help you!