IFRS 9 Dress Rehearsal Coordinator (15244088/003) City of London, England
IFRS 9 is a significant new financial reporting standard that replaces IAS 39. It includes revised guidance on the classification and measurement of financial assets, impairment and new hedge accounting rules. IFRS 9 is effective for annual periods on or after 1 January 2018. A Global project in place to implement IFRS 9 across the group’s global business lines. This role is required to assist with the Retail Impairment work stream with project deliverables for the next few months.
The project phases can be summarised as:
• Classification and Measurement – defining and documenting business models, evaluation and system changes required, completion of SPPI testing, design and implementation of SPPI process and controls
• Impairment – defining, documenting, and testing models and process used for impairment calculations, booking and reporting
• Disclosures – assessing changes to accounting disclosures and implementation of those changes
• Parallel Run – testing phases
Responsibilities
1. Co-ordinate IFRS 9 retail change implementation project (dress rehearsal) across retail - c40 countries across the globe
2. Drive Retail IFRS 9 agenda across Risk, Finance, Change and Programme functions to ensure successful change implementation outcome
3. Assess Retail change implementation plan to ensure any risks are proactively identified and lead development of mitigation plan
4. Provide important link into project delivery team to ensure quality in operational readiness planning
5. Update senior Retail stakeholders on project status, calling out issues and proposing path to green
6. Influence stakeholders across regions and functions, navigating through complex organisation structure and conflicting agendas/priorities to deliver the Retail change implementation agenda
7. Develop a activity run book for a month Financial IFRS9 Dress Rehearsal
8. Run a complex IFRS9 Dress Rehearsal process acting as the key coordinator on a daily basis
9. Run Dress Rehearsal Incident Management
10. Identify and collate lessons learnt
11. Effective progress reporting and daily updates
12. Effective working relationship with the Wholesale/Retail Group Process Owner –
13. Team working – with the Business Transaction team within the programme to ensure all scope of dress rehearsal accounted for and any issues identified and resolved
14. Contributor to the Dress Rehearsal Preparation Run-book
15. Previous experience of complex implementation and dress rehearsal/parallel run elements of the programme
Skills and Experience
Close collaboration with the delivery work streams and project teams in each geographic region will be essential to success in the role. To be successful in the role, you should meet the following requirements:
• Retail credit risk background with proven knowledge of products like credit cards, mortgages, loans, current accounts etc.
• Basic understanding of key risk concepts like impairment (PD, LGD, EAD) and how IFRS 9 differs to IAS 39
• Graduate - highly numerate degree
• Strong organisation skills
• Able to multi-task and juggle multiple work streams
• Ability to influence diverse set of stakeholders - from technical analysts to senior functional leads
• Clear thinker
• Thrives in a fast pace, dynamic work environment
• Graduate with numerate degree and/or professional qualification.
• Understanding of accounting and/or credit risk concepts
• Experience of financial or risk reporting processes
• Experience of documenting data requirements and/or measuring and resolving data quality issues would be a significant plus
• Client focused, with relationship building, analytical and project management skills
• Sound judgment and problem solving skills, ability to think laterally
• Keen sense of urgency - able to achieve results quickly
• Able to manage numerous tasks with continual re positioning and prioritization
• Ability to establish and maintain strong collaborative partnerships
• Good understanding of the financial markets.
• Good analytical skills
• Experience working with offshore delivery teams
• Flexibility to attend meetings via audio or video in a variety of time zones, including early mornings and late evenings on occasion. This can be undertaken remotely and can usually be planned in advance
• Ability to undertake in depth review of processes and products and provide a high quality analysis.
• Knowledge of the spectrum of Global Banking & Markets products and services
Desirable skills / experiences
• IFRS 9 implementation / project management experience in a global bank
• Good working knowledge of key IFRS 9 concepts
• Experience working in senior Group Risk role working with local teams to drive group risk agenda
The project phases can be summarised as:
• Classification and Measurement – defining and documenting business models, evaluation and system changes required, completion of SPPI testing, design and implementation of SPPI process and controls
• Impairment – defining, documenting, and testing models and process used for impairment calculations, booking and reporting
• Disclosures – assessing changes to accounting disclosures and implementation of those changes
• Parallel Run – testing phases
Responsibilities
1. Co-ordinate IFRS 9 retail change implementation project (dress rehearsal) across retail - c40 countries across the globe
2. Drive Retail IFRS 9 agenda across Risk, Finance, Change and Programme functions to ensure successful change implementation outcome
3. Assess Retail change implementation plan to ensure any risks are proactively identified and lead development of mitigation plan
4. Provide important link into project delivery team to ensure quality in operational readiness planning
5. Update senior Retail stakeholders on project status, calling out issues and proposing path to green
6. Influence stakeholders across regions and functions, navigating through complex organisation structure and conflicting agendas/priorities to deliver the Retail change implementation agenda
7. Develop a activity run book for a month Financial IFRS9 Dress Rehearsal
8. Run a complex IFRS9 Dress Rehearsal process acting as the key coordinator on a daily basis
9. Run Dress Rehearsal Incident Management
10. Identify and collate lessons learnt
11. Effective progress reporting and daily updates
12. Effective working relationship with the Wholesale/Retail Group Process Owner –
13. Team working – with the Business Transaction team within the programme to ensure all scope of dress rehearsal accounted for and any issues identified and resolved
14. Contributor to the Dress Rehearsal Preparation Run-book
15. Previous experience of complex implementation and dress rehearsal/parallel run elements of the programme
Skills and Experience
Close collaboration with the delivery work streams and project teams in each geographic region will be essential to success in the role. To be successful in the role, you should meet the following requirements:
• Retail credit risk background with proven knowledge of products like credit cards, mortgages, loans, current accounts etc.
• Basic understanding of key risk concepts like impairment (PD, LGD, EAD) and how IFRS 9 differs to IAS 39
• Graduate - highly numerate degree
• Strong organisation skills
• Able to multi-task and juggle multiple work streams
• Ability to influence diverse set of stakeholders - from technical analysts to senior functional leads
• Clear thinker
• Thrives in a fast pace, dynamic work environment
• Graduate with numerate degree and/or professional qualification.
• Understanding of accounting and/or credit risk concepts
• Experience of financial or risk reporting processes
• Experience of documenting data requirements and/or measuring and resolving data quality issues would be a significant plus
• Client focused, with relationship building, analytical and project management skills
• Sound judgment and problem solving skills, ability to think laterally
• Keen sense of urgency - able to achieve results quickly
• Able to manage numerous tasks with continual re positioning and prioritization
• Ability to establish and maintain strong collaborative partnerships
• Good understanding of the financial markets.
• Good analytical skills
• Experience working with offshore delivery teams
• Flexibility to attend meetings via audio or video in a variety of time zones, including early mornings and late evenings on occasion. This can be undertaken remotely and can usually be planned in advance
• Ability to undertake in depth review of processes and products and provide a high quality analysis.
• Knowledge of the spectrum of Global Banking & Markets products and services
Desirable skills / experiences
• IFRS 9 implementation / project management experience in a global bank
• Good working knowledge of key IFRS 9 concepts
• Experience working in senior Group Risk role working with local teams to drive group risk agenda