Banking Risk Analytics and Business Design

Client Challenge

Banks are required to comply with the FRTB regulations by 2019. In 2016, the regulations were still developing and our client had launch a simplification programme, with the FRTB project given the highest priority. Risk, as business sponsors, wanted to accelerate the pace of delivery. A new permanent Head of Strategic Projects had been hired but was due to start in three months. Following a decision to adopt an Agile methodology, a re-structuring of the project was required and given the large scope of change and tight deadlines, they needed help to co-ordinate, communicate and implement the new approach as quickly as possible.

What We Did

  • Took action from cross departmental, senior management planning sessions and drove initiatives forward with a clear and well understood plan
  • Ran project co-ordination forums with Risk, Front Office, Finance, IT and Compliance
  • Prepared re-prioritisation communication for steering committee meetings to gain endorsement for the new plan
  • Kicked off the prototyping stage and planned for build and deployment stages
  • Identified dependencies and risks and created action plans

The Result

  • Steering committee endorsement to align priorities across Risk, Front Office and IT
  • A shift in priorities for Front Office to focus on delivering a new pricing engine in 2017
  • A clear plan encompassing cross functional project deliverables against milestones
  • Four delivery teams working on producing prototypes
  • Communication of success stories and demonstrations of capability to stakeholders
  • A smooth transition for the new Head of Strategic Projects.