The VP of Human Resources at Banco de Credito, Peru's largest bank, asked Sullivan Walsh Associates to revamp the company's performance management system. SWA first converted the description of Banco de Credito's key roles from “competencies” into “activities,” and then developed a performance management system that promotes strategy execution. In its first year with the new performance management system, with 14,000 employees operating under the new performance management system, Banco de Credito enjoyed its most profitable year in company history.