Executive Summary
Leadership as an element in the development process increases greatly within the global development community. Thus, numerous novel leadership development programs have surfaced. This paper entails my leadership development plan designed to increase my career prospects by advancing my skills following the provided immediate action plans. It comprises different sections, including an introduction of the overall leadership development plan, self-assessment and analysis (SWOT) that offers my biography description, objectives of the plan for skill development, the immediate action plans, and the criteria for measuring success. These sections provide a step-based description of the plan as it unfolds to the final point of evaluating success.
1. Introduction
Leadership is considered a social influence where a person easily persuades others to follow a particular viewpoint or strategy through different criteria. Therefore, a leader ought to develop qualities shaped through personal assessment and realization and should have a plan for success. The plan might include a personal growth plan and a professional plan for advancement in an area. A personal leadership development plan is essential for aspiring or emerging leaders and can equally be helpful for established leaders. It serves the purpose of developing one’s leadership skills and capabilities via careful planning and action plan.
Essentially, the plan helps aspiring leaders identify their leadership position and the steps required in achieving their prime objectives and goals. Thus, this personal development plan provides a roadmap for my skill development while in harmony with the overall goal of the ADBC of increasing market share. It offers a self-assessment of my leadership skills and capabilities and highlights my strengths, weaknesses, and the opportunities I may have for future development. As such, the general personal development plan comprises an introduction, self-assessment, objectives, and an action plan. I took a self-assessment test whose results are shown below;
2. Self-Assessment and Analysis
First, I am a 26-year-old graduate of a higher college of technology, having majored in information security and forensics. Second, I work in Abu Dhabi Commercial Bank (ADCB), as an auditor, since 2017. This full-service commercial bank provides various products and services, including cash management, corporate finance, private banking, foreign exchange, wealth management, retail banking, commercial banking, property management services, Islamic products, investment banking, and project finance. It’s most recent significant advancement is the integration with Al Hilal Bank and Union National Bank, making ADCB the third largest financial institution in the United Arab Emirates (UAE) by assets-having more than one million clients (Abu Dhabi Commercial Bank, 2020). ADCB allows me to grow my carrier as it upholds human capital as the most important asset, and the financial institution attracts talented persons and develops them professionally by recognizing excellence.
Different roles fall under my jurisdiction as an auditor. Some of these include improving the bank’s operation and ensuring its compliance with essential regulations by effectively performing exhaustive assessment and enhancement of risk management, governance processes, and bank’s control. The leadership style present at ADCB is the management type. This style of leadership focuses on task accomplishment accurately and on time and does not take into consideration the differences involved in a team of employees (Al-Malki, & Juan, 2018). As such, leaders may miss the major needs of subordinates. However, in my time at ADCB, I have managed to maximize my strengths, including values aligned with the company’s guiding values of discipline, care, integrity, respect, and ambition (Abu Dhabi Commercial Bank, 2020).
My work experience in ADBC bank as an auditor in the internal audit department has enabled me to comprehend the technicalities of the work. Over time, I was given different responsibilities, including assisting the board of directors and senior management in ensuring improvement of bank operations. Therefore, in conducting a personal analysis, I realize I have strengths, weaknesses and opportunities for future growth.
2.1. My Strengths
It is deemed necessary that a leader ought to possess certain qualities, abilities, and personal traits that distinguish them from an ineffective leader. As suggested by the trait theory, effective leadership relies on the specific characteristics of a person (Hogan, & Sherman, 2020). Thus, leaders strive to focus on their strengths than weaknesses, and such strengths may vary from one leader to another. For example, I have developed a resilient character and a strong will that always enables me to go through challenging times and still emerge stronger. This value makes me find the inner strength to carry on and overcome challenges. I am also decisive in nature, and it helps me assess situations with tranquility and settle on an action that unites everybody. This does not mean I always make the right decisions. Sometimes I stumble and learn from such mistakes as I accept responsibility for every action, determination, and possible failures accrued thereof. I am always involved in complex duties, which require me to undertake risky decisions to accomplish them effectively.
Another trait of an effective leader is integrity, which is an important trait, especially in my position at ADBC bank as an auditor. A study conducted by Engelbrecht et al., 2017, highlights that integrity can influence faith in a leader. According to their finding from a web-based survey on integrity’s role in leadership, integrity formed a critical part of assumed relations between leaders and employees (Engelbrecht, Heine, & Mahembe, 2017). This trait equally has a more significant impact on stakeholders’ perception than leadership behaviour an individual may exhibit. As such, I have managed to develop this trait right from college in academics into my career. It has enabled me to command respect from peers, fellow employees and managers at ADCB. I am also structured, which allows me to set parameters that others can comfortably work within to achieve the general objectives and goals of the company. Thus, structure builds a specific bond and sense of togetherness in the place of work.
Further, relationship building is an essential trait for leaders in the auditing field. Cultivating respect and trust with other professionals forms a highly pervasive objective across all the functions of an auditor (Erickson, 2017). In addition, this trait helps establish highly collaborative, productive, and equally assisting relationships. Thus, this trait has helped me reduce resistance during the auditing process and encourage the company to understand and welcome an auditor’s consultative role (Erickson, 2017). Also, I have attained several other attributes to build this relationship, including company knowledge, business acumen (risk knowledge), empathy, and persuasion. As such, I understand the company’s culture, the customers, product offerings, and associated assets and liabilities.
As an auditor, I need to have strong analytical, conceptual skills and present data visually in a compelling manner. These skills enable me to articulate, visualize, and solve intricate problems and perform tasks under pressure. Hence, I can review the financial and management information systems, including electronic information system and electronic banking services and perform special investigations and tests on the reliability and timeliness of regulatory reporting (Drogalas et al., 2017). Additionally, my communications skills allow me to communicate with groups and individuals, thereby compellingly expressing my opinions and views. Nonetheless, when confidence becomes overbearing, it may lead to self-sabotage, where it creates a rift between one and their superiors; thus, it is crucial to employ discretion where possible. Therefore, by combining these skills, I can develop followers who are knowledgeable and willing to create the drive of achieving the company’s goals.
2.2. My Weaknesses, Opportunities, and Threats
Even though I have the above strengths, I must mention that I also have trouble as a potential leader in my field. It is natural for people to cringe whenever they hear that an audit is to happen. Some of my weaknesses as a leader in this field include patience, managing performance effectually, and providing encouragement and support. Auditors usually work with time limits, and that is where work stressors like the adrenaline rush begin (Daniel, 2020). My determination and drive are always to succeed, and I may appear enthusiastic, especially when I find similar minds in others. Thus, at times I may overlook the lack of this drive in others, failing to notice their natural conditioning as I have developed this ability with time. The lack of patience may cause a team’s morale to suffer, mainly when team members observe the leader appearing frustrated and irritated by their inability to improve (Brown, 2019). Therefore, it is always vital to notice and agree that people require more time to process and advance in such traits and that these moments may demand a lot of patience from leaders.
I equally realize that effective management of performance is an ability I need to develop to stay ahead of my teams’ progress and assist in being supportive during challenging times. This aligns with ADBC’s resilient goal of digital transformation, increasing market share, and realizing growth while upholding a disciplined approach to regulating costs (Abu Dhabi Commercial Bank, 2020). The company incorporates digital transformation goal amid the pandemic challenge, and this requires me to offer support in innovative and unanticipated ways, thus stimulating employees to succeed. However, some of the threats include a lack of regulatory requirement for management in providing all information and access to auditors for the adequate performance of tasks (Parker, & Johnson, 2017). This presents a limited ability to auditors, especially when management is unwilling to disclose information to auditors for perceived confidentiality and when it views audit as of least priority in compliance application.
Having highlighted my assessment details, I realize that I lack adequate experience in devising guidelines for junior employees and the planning process, which are areas for improvement. Thus, the experience I received in academic and carrier setting facilitated me in realizing the significance of effective communication in such environments. Therefore, I need to reinforce my communication approach, especially when ADBC undergoes a digital transformation, where I am required to assess risk factors associated with such modification. In doing this, I will be exercising a professional competence, which relies on the auditor’s ability to gather and understand data, examine and assess audit evidence and further communicate with internal audit function stakeholders. These qualities are applied in conjunction with favourable tools, awareness of auditing techniques, and methods. Additionally, it is incumbent upon leaders to uphold a certain balance between work and life to dispel attitudes like frustrations and anxiety. This can help avoid burnout present in engaging in vigorous processes with timelines.
3. Objectives for the Leadership Development Plan
My personal development objectives are meant to maximize the leadership capabilities available in my field and other areas. As mentioned, the personal leadership development plan acts as a roadmap that guides and encourages constant growth in leadership skills and attributes (Abner et al., 2019). Therefore, the plan requires precise objectives that are specific, measurable, acceptable to the formulator, realistic, and achievable within a specified time limit. This criterion for setting goals is referred to as SMART. The following objectives are pursued in this pan. These are:
- To develop effective skills in delegating tasks to my subordinates and incorporating patience by the end of November 2021.
- To improve my communication skills both in written and spoken forms to handle the presentation of reports concerning the digital transformation of banking services to enhance the market share of ADBC during the pandemic by the end of October 2021.
- To strengthen my technical skills, especially in digital transformation by the end of February, 2022.
4. Action Plan
The vital elements incorporated in this plan model centres on my leadership skills and possible areas of improvement in my career. In strengthening my skills associated with areas mentioned in the objectives-delegation with patience, communication, and other technical skills concerning digital transformation, I will significantly improve my approach to leadership in the active professional setting.
The following table gives snip preview of the objectives, action plan, measurement of success, and the target dates for completing the development plan.
| Objectives | Action Plan | Success Measurement | Target Date |
| To develop effective skills in delegating tasks and improve my patience. | 1. Hold meetings and delegate tasks to responsible junior persons. 2. Complete the digital transformation training. | 1. Utilize the 360-degree feedback mechanism. | 30 November, 2021 |
| To improve my communication skills | 1. Complete the digital transformation-training program. 2. Present at meetings. 3. Interact and converse with fellow colleagues at trainings. | 1. Use the 360-degree feedback mechanism. | 31 October, 2021 |
| To strengthen my technical skills | 1. Complete the digital transformation-training program. 2. Delegate tasks virtually. 3. Mentor a new employee in the department. | 1. Use the 360-degree feedback mechanism. 2. Finally issue the supervisors with each assessment feedback report. | 28 February, 2022 |
Thus, to strengthen these skills, it would require me an average of about eight months. This period will enable me to interact with more people hence enhancing my communication. The company also enrols a training program for the digitalization process for all persons in the department, where I will develop different technical skills for performing various tasks.
The above objectives have corresponding action plans. The first action plan entails transferring authority to junior responsible persons. The audit resources are usually limited, and several managers do not utilize delegation capabilities adequately since they rarely comprehend the benefits of delegation and its associated fast performance (Törnqvist, 2018). Thus, the immediate action plan is to schedule meetings with every associate or employee to better understand their needs, duly ask those ways to empower, and what tasks to delegate to grow their skills in the professional setting (Törnqvist, 2018).
The delegation methods can include identifying tasks from the outset, including timeframes, situations requiring further clarification, and restrictions. Leaders must delegate tasks by providing critical information concerning expected results. There may be a reduction in the successful accomplishment of intended duty when there are sketchy details, thus inciting frustrations on the leader. In measuring the effectiveness of this action plan, I will conduct a survey on the employees to assess their experience on the delegation and present the outcomes to my manager.
By engaging in the training program, I can delegate tasks virtually to employees to increase my technical skills in digital transformation. Further, the program helps me improve my technical skills in presenting risk assessments in management and other analytical frameworks on banking services and providing a conclusive report. While undertaking the training program, I will be interacting with people. The exposure will help me enhance my communication skills and leadership skills.
One of the critical skills of an auditor is the presentation of facts and reports. This will certainly require me to speak and present data to the board of directors to sway the company strategies and consequently lead to the improvement of ADCB’s market share as entailed its resilient goals. Further, I will attend key events organized by the company of my group with the deliberate purpose of learning by observation and noting key points and approaches incorporated by speakers as they communicate through speeches. Also, I will be proactive and strive to offer my views and opinions on presented agendas at internal quarterly meetings to deliver a brief presentation of my project and duly inquire of my superior’s opinions on such presentations afterwards. This can be assessed by asking how competitors utilize technology and digital better than ADBC and derive favourable outcomes.
Digitalization is the practice of changing from analogue to digital form. It is regarded as adopting digital technologies to alter a business model and offer novel revenue and value-addition prospects and accelerate innovation. Digital transformation, on the other hand, is digitalization’s rapid advancement referred to as the fourth industrial revolution (Hoerlsberger, 2019). As an auditor, I must develop technical skills such as advanced IT skills, which become increasingly essential and the ability to master different tools used in analytics.
Companies develop strategies for digital transformation to be at par with advancements in technology and thereby safeguard and expand the business. By engaging in the offered training and pursuing personal training, I will be able to utilize computer-based auditing tools and technologies like artificial intelligence, big data, software robot, data science, and Blockchain for undertaking final audits in the company (Appelbaum, Kogan, & Vasarhelyi, 2017). I can also volunteer to lead projects and work with a supervisor to identify fair chances of developing other technical skills like documentation. I will mentor a new employee in the department to effectively engage this skill.
5. Measurement of Outcomes
My measurement of success criterion involves using the 360-degree feedback mechanism where all involved staff members can provide their views and opinions concerning my leadership ability. Such a mechanism will apply a simple performance grading scale on a scale of 1 to 10, where ten is most effective, and one is least effective. This involves even the opinion of my superiors to offer a well-rounded outcome. This feedback mechanism can help me understand whether I possess the ability to lead a team of individuals or not.
6. Conclusion
The personal leadership development plan highlights the place I am in my career, potential progress in leadership, and a roadmap to new heights in my professional setting as a leader. The paper provides a self-assessment and analysis, thereby mentioning my strengths, weaknesses, opportunities, and threats as an auditor at ADBC. Some of my strengths, as noted, include resiliency of character, integrity, decisiveness, and the ability to create rapport with colleagues at work. These have enabled my continual growth at ADBC within the four-year period I have worked at the bank.
I also provide my weak areas, such as the inability to devise guidelines for junior employees and the lack of patience since audit work runs within a specified timeline. As an auditor, the threat I face is inadequate work-life balancing, which sometimes may lead to burnout due to work stressors. Additionally, the paper provides objectives for improving different skills such as task delegation, effective communication, and technical skills and offers appropriate action plans to accomplish their acquirement. It also incorporates criteria for measuring the accrued outcomes to assess my progress towards effective leadership. Therefore, this leadership development plan comprises a whole package containing a roadmap (action plans) for bettering my career within a specified time limit.
References
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