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IBOR Contract Remediation Manager (Contract till end June 2023)

Allegis Global Solutions Singapore
Posted 13 hours ago Permanent Competitive

As a Contract Remediation Manager, you will drive legacy contract remediation of IBOR exposures as a key member of the Contract Remediation Workstream.  To be successful in this role, you will need to demonstrate:

  • A strong understanding of banking products
  • Strong understanding of financial products 
  • Specific experience in tracking, monitoring, and reporting progress
  • Experience of working in a multinational global financial services institution and hence, global banking challenges and opportunities.

Responsibilities

  • Management of the Contract Remediation Workstream’s remediation effort and progress of IBOR exposures, including lending, transaction banking and derivative contracts.  Responsibilities will also include tracking and resolution of action items, following up with internal stakeholders (including frontline, legal, businesses and operations), take necessary steps to resolve it, and escalating to management if required.
  • Direct coordination and liaison with the Programme’s Business Analytics and Insights Team (BA&I) regarding management of client and exposures data in our internal remediation workflow tool
  • Direct coordination and liaison with the Programme’s CCIB Regional teams to deal with day-to-day activities of progressing remediation efforts, taking necessary steps to resolve and escalating where necessary
  • Overall management of the production of necessary IBOR related information and materials to fulfil regulatory requests from regulators such as the PRA / FCA
  • Reporting to both internal (e.g., Group Internal Audit, Quarterly Performance Reviews, Monthly Reviews, Retrospectives, Programme Steering Committees, Project Steering Committees, Project Working Groups, Non-Financial Risk Committees, etc) and external (e.g., Regulatory bodies [e.g., Prudential Regulation Authority (PRA), Financial Conduct Authority (FCA), Hong Kong Monetary Authority (HKMA) and Monetary Authority of Singapore (MAS)], external Audit, etc) parties
  • Assisting various Central, Business and/or Function workstreams (e.g., Agency, Financial Markets, Lending, Transaction Banking, etc), to deliver their client remediation agendas, including client cohort scoping and execution strategy development, client engagement and follow-up remediation of contracts, case closure activities such as system updating, progress reporting, escalation, and follow-up, etc.
  • Advising stakeholders and teams across the Bank on our IBOR obligations, the impact of our IBOR obligations on their Businesses, Functions or their elements of the Programme agenda, utilising data, and insights
  • Driving engagement with and management of senior stakeholders, committees, and communities across the Bank (e.g., from the wider Programme, Business and Functions (including Group Internal Audit) to achieve desired outcomes.

Requirements

  • Min. Degree in Business and Finance related, with 10+ years of relevant experience.
  • Relevant business knowledge, including structure, client industries and segments, products, processes, and systems
  • Thorough understanding of IBOR/LIBOR rates and their regulatory obligations and milestones, preferably with hands on experience
  • Strong experience in dealing with regulatory requests
  • Solid experience in leading teams and driving deliverables to completion
  • Programme and Project Management experience
  • Exceptional communication skills
  • Data analysis and presentation skills
  • Regulatory mandate experience
  • Advanced level of Microsoft Office product suite use
  • Ability to work in a cross-functional team spread across multiple geographies - must be ready to support conference calls with teams across different time zones.
  • Experience in group mailbox management including set-up, effective processes, and storage best practices.
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