Competency Details ( Stakeholder Management ) | Financial Academy

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Financial Skills Framework

Skills Dictionary

Stakeholder Management

Technical Skills

Champions the interest of all stakeholders in a balanced manner by understanding needs, establishing mutually-beneficial outcomes and maintaining confidence by understanding the impact of actions and decisions on stakeholders.

Skill Code: T114

Level 1

Demonstrates basic knowledge of the activities used in managing the working level relationships with the stakeholders. Shows basic understanding of the different methodologies and platforms used to collect feedback, identify the needs and meet the expectations of the stakeholders.

Level 2

Acquires knowledge of the analysis tools and techniques used for sourcing, interpreting and documenting the stakeholders’ feedback. Takes part in and contributes to the stakeholder engagement plans and programs, and builds trust and rapport with the stakeholders within the context of own and the team’s responsibility.

Level 3

Conducts stakeholder analysis, using the techniques in place, to identify their needs, drivers, expectations and constraints. Establishes appropriate stakeholder engagement plans and programs and communicates to the teams, to ensure the ongoing engagement of stakeholders and build their confidence.

Level 4

Uses full professional knowledge to develop the plan for managing and engaging stakeholders effectively. Maintains long-term relationships with those stakeholders who are critical to the business unit, and guides and influences their decision through trust and the use of different communication styles and channels to keep them updated.

Level 5

Applies subject matter expertise to build strategies for and recommend updates to the stakeholders management and engagement plans. Champions key relationships with the internal and external stakeholders to maintain their trust and confidence towards the achievement of mutually- beneficial business outcomes.