IRRBB Project Manager

Project Manager HSBCJP00044272

London

6 Month Contract with extensions

Our client are currently seeking an experienced Project Manager to join their team in the London office/remote working, this contract will be for 6 months with a review to be extended.

Business/Function: Global Treasury

Role Purpose

Global Treasury (GT) is leading the implementation of Interest Rate risk in the Banking Book (IRRBB) Strategy, in accordance with principles agreed with the Group Board. We are in the process of building out a programme to continue to drive the implementation of the strategy alongside regulatory commitments, and are recruiting project managers to drive some of the key workstreams. This is a visible and high priority programme at Group level and consists of a number of delivery pillars in accordance with the components of the strategy. It has short, medium and long term objectives to achieve a desired level of NII stability while balancing the demands on capital, and success will result in material benefits for Group Revenue and Capital. The programme is required to move at pace with multiple strands and parallel deliveries on both a tactical and strategic basis.

The successful candidates will be responsible for project managing the Booking model & Interest Rate transfer pricing workstream and the hedging capacity & efficiency workstreams, in support of GT IRRBB and Transformation teams, ensuring implementation of the strategy is driven with the appropriate swiftness, structure, governance and traceability. Delivery will span teams across Global Treasury, Finance Change Delivery and functional areas and will cover frameworks and capabilities delivering industry-leading capabilities in IRRBB management.

The Project Manager will be responsible for the end-to-end project management of initiatives, further building out delivery teams and implementing ways of working, as well as: 

•           Engage with senior stakeholders and successfully mobilise across RTB and CTB teams to define and deliver against target outcomes

•           Organise project governance meetings and report to Treasury and Group committees at various levels

•           Defining and owning the project plans, resource planning, and dependencies management, tracking against immediate and longer term outcomes.

•           Manage the resourcing and financials of the programme according to agreed headcount and budget

•           Ensure delivery partners are engaged, equipped and managing to success across Data, IT, Risk,

Finance and Operations

•           Enhance and implement effective controls for the delivery

•           Reporting progress, issues, dependencies and risks to programme leadership and steering committees as appropriate and make recommendations to influence decision making in order to maintain progress towards outcomes and benefits realisation

Key Accountabilities

Impact on the Business/Function

•           Ensure that workstreams plans, resources and financials are defined, agreed and tracked appropriately with clear escalation route into defined governance forum

•           Own the delivery of the Workstream to agreed plan, headcount and budget

•           Establish and manage Workstream level governance including reporting line into other change and governance forum

•           Own the identification, resolution and escalation of risks, issues, assumptions and dependencies at Workstream level

•           Own the identification, interlock and tracking of dependencies to/from other Workstreams

•           Work with the Programme Office to ensure that project artefacts (plans, risk and issues, dependencies log etc) are robust and compliant to standards

Customers / Stakeholders

•           Build and manage key relationships with internal and external senior stakeholders

•           Understand stakeholders' objectives, direction, priorities and challenges, managing and addressing concerns and objections.

•           Influence and collaborate with stakeholders to build consensus and shape change outcomes.

•           Build stakeholder buy in to detailed plans, key commitments and changes against baseline as they arise.

•           Build strong relationship with other programme teams and BAU teams with dependencies into/out of the workstream

Leadership & Teamwork

•           Take ownership of overall project plans and work with key contributors to agree their contribution.

•           Provide leadership to resolve design and delivery issues

•           Work within matrix structure to manage project deliverables outside direct control and to appropriately influence priorities

•           Promote a culture of continuous innovation, challenge the business on approach and apply knowledge of relevant latest developments

•           Define detailed responsibilities and objectives for team members and manage performance

•           Provide regular constructive feedback and coaching to more junior team members 

Operational Effectiveness & Control

•           Assess the operational risks associated with the role and inherent in the business.

•           Work within GT2025 Programme governance and wider Global Treasury governance

•           Ensure that controls and non-functional risk aspects of the programme are identified, appropriately documented and exceptions are tracked with agreed resolution date

•           Ensure that Second Line of Defense and Risk Stewards are engaged in the Workstream as appropriate

•           Establish effective project controls and procedures for the Workstream 

•           Ensure that the Workstream complies with Change Framework 

Major Challenges

•           There are multiple initiatives within IRRBB programme, running to different delivery timeline and with different focus between process, people and technology changes. The role holder needs to be able to design and carryout effective project management across several concurrent initiatives at different project stage 

•           The GT IRRBB and Enterprise IT functions are undergoing organisational changes at the same time as programme ramp-up. The role holder needs to be able to deliver through a changing landscape, including exercising discretion in handling sensitive information and subjects.

•           More generally, the implementation of this programme is highly dependent on other teams both within Global Treasury and the its partner functions. The role holder needs have a strong capability in identifying and managing interdependencies between the teams.

Role Context 

•           The role holder will operate within Global Treasury and have a high level of flexibility to consult with Senior Management at Group and Regional level

•           The Global Treasury team and stakeholders are globally distributed. The role holder needs to have effective management of time to work across multiple disciplines, timezones, etc

Management of Risk

•           The role holder will continually reassess the operational risks associated with the role and inherent in the business, taking account of changing legal and regulatory requirements, operating procedures and practices, management restructurings, and the impact of new technology

•           This will be achieved by ensuring all actions take into account the likelihood of operational risk events, and by addressing any areas of concern in conjunction with line management and/or the appropriate department

•           The role will implement the Operational Risk control framework and per the BRCMs – “Three Lines of Defense”

Observation of Internal Controls

•           Maintain internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

•           Observe and promote the use of the Group’s preferred programme management methods/tools.

•           The jobholder will implement the Group compliance policy by containing compliance risk in liaison with Global Head of Compliance, Global Compliance Officer, Area Compliance Officer or Local Compliance Officer. The term ‘compliance’ embraces all relevant financial services laws, rules and codes with which the business has to comply.

•           This will be achieved by adhering to all relevant processes/procedures and by liaising with Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

Knowledge & Experience / Qualifications

Technical Skill Requirements

•           Strong project management skills covering the whole project lifecycle from initiation to closure, including delivery in waterfall, agile and hybird methodology

•           A working knowledge of Treasury IRRBB booking models and ITP processes, and/or structural hedging

•           Good understanding of the Treasury business and associated risks, with ability to translate complex concepts into programme artefacts 

•           Good understanding of systems and data architecture in Treasury, risk and/or Finance environments, with ability to speak bridge the communication between business stakeholders and Technology team

Educational Requirements

•           Educated to minimum of degree level or equivalent professional qualification

Personal Skill Requirements

•           Strong execution and problem solving skills

•           Strong stakeholder management skills

•           Ability to present information in a professional manner, including preparing documents for review by C-level audiences

•           Excellent written and verbal communication skills to C-level audiences

•           Personal ownership of target and resolution of issues

•           High degree of motivation and commitment

•           Ability to deal with change in role and working environment

•           Team player and able to manage conflict and conflicting priorities

•           Ability to provide direction to more junior colleagues

Experience

•           Minimum 10 years of experience in Financial services and project delivery

•           Project management experience across IRRBB, ideally within the transfer pricing or hedging space with operational familiarity

•           Experience in change management, driven by IT systems implementation or enhancement, across a large organisation, including agile delivery frameworks

•           Experience in people management is highly preferable

•           Strong people management and communications skills, providing information to senior stakeholders effectively

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