The role-holder is responsible to oversee and support initiatives within the IBOR Transition Programme for Bank ABC Group wide and at the same time, be the champion on project management activities, driving a value-driven change management approach.
A multi-faceted candidate is sought who:
Has a deep understanding of LIBOR transition business and technical requirements and is also experienced in project management and leading large-scale transformation effort
Demonstrates a dynamic role which can shift between program manager / project manager / business analyst depending on the level of involvement in each workstream
Can communicate effectively and obtain buy-in / adoption from a wide range of stakeholders in the businesses, functions, and units
Ensures business needs are well understood across the workstreams where applicable
Supports/leads project management and change management activities ensuring business readiness
Works with the external engagement partner to drive through a robust implementation plan ensuring key activities, deliverables and milestones are met
Leads by example and ensures group wide project and change management protocols are applied across the program on all workstreams
Maintains a balanced approach in project management and change delivery that aims to maximise ROI, minimize rework, and ensure solutions are sustainable
Ensures the defined roles and responsibilities (of both Bank ABC staff and the engagement partner) are observed and hence drive the right level of accountability
Work with engagement partner, to ensure all internal stakeholders (business, functions, units), fully understand roles and expectations of the program and are aligned with approach and proposed work effort
Ensure client-centricity throughout the end to end delivery lifecycle where involvement can be direct/indirect
Support relevant business and function stakeholders to identify impacted product, systems and processes.
Support the definition of business processes in current state vs. target state
Ensure detailed remediation plans are in place (and challenge where necessary), to address the impacted products, systems and processes- drive delivery of those plans to ensure seamless transition away from IBOR
Working with the engagement partner, assist Business and functions in establishing new booking models, valuation models, data flows, accounting, settlements, governance to ensure bank’s internal readiness to transact trades and Loans referencing Alternative Reference Rate (ARR)
Drive delivery of the technical deliverables within the transaction processing and system
Maintain overview of emerging regulatory expectations in terms of IBOR transition and evaluate impact on the program (e.g. infrastructure, processes etc).
Be aware of industry best practices and be an influencer in incorporating such changes
Support change management at the organizational level, keeping in mind the relevance to business strategy
Drive LIBOR transition agenda with senior stakeholders across the Business units and functions. Work closely and collaboratively with the identified lead / champions for each workstream
With the engagement partner develop and oversee the end-to-end project plans with a focus on critical milestones and timelines, and identify and issues / roadblocks on a timely basis
With the engagement partner produce the required project documentation and adhere to Bank’s project management protocols (e.g. Business Requirements, RAID logs, status reporting etc)
Ensure MIS and workstream reporting is fit for use through investigations and data remediations
Assist in driving successful execution of the communications strategy required for the transition, both internal and external
Support training and communications efforts where applicable – ensuring the right level of engagement to facilitate business readiness and adoption.
Coordinate with Business and Functional leads and update the core Libor Working Group on any key issues
Work with the Group Change Management office to ensure adherence to quality of project delivery and adherence to group Project Management protocols and Standard
Assist in providing updates to working groups, stakeholders, governance committees (GLTC, GRC for example) on the status of the IBOR project
Ensure information is correctly communicated and where necessary issues are escalated to management in a timely manner.
Share ideas and best practice information with colleagues. Thinks beyond current boundaries of the role and contributes ideas.
Education / Certifications:
Degree in Finance, Accounting or Business or related degree Minimum 5+ years’ experience in Wholesale Banking and / or Capital and Financial markets
Preferably Project Management certified (PMP, Prince2, Agile etc.)
Deep understanding of LIBOR/IBOR transition requirements – business, technical, communications etc.
Good knowledge of Wholesale banking, Treasury and Financial markets and Islamic Finance products used across Bank ABC Group.
5-7 years’ experience/knowledge in project and change management principles, approaches, methodologies, tools, and phases of the project lifecycle (both Waterfall and Agile)
Excellent working knowledge of MS Excel (pivot tables, v-lookups, etc.) PowerPoint, MS Outlook, Visio, and Microsoft Project desirable
Ideally previous experience working on a regulatory transformation initiative