MKTY IBOR Global Lead

Description

MKTY IBOR Global Lead
London - Hybrid: 2-3 Days/Week
£522.50/Day PAYE, £678.38/Day Umbrella
12+ Month Contract

Our client are currently seeking a MKTY IBOR Global Lead to join their team in the London office/remote working, this contract will be for 12 months with a review to be extended.

Leadership role, tasked with driving continued planning and execution of the Markets Treasury (MKTY) IBOR project transition on a global basis through to completion, a project in progress for some time. The role will require senior stakeholder management, as well as a strong knowledge of Investment Banking in particular, and in depth understanding of Markets and MKTY activity (what they trade/why they trade/business areas impacted).

Key responsibilities are to drive the continued MKTY strategy for IBOR transition to meet all stakeholders expectations internally and externally. The role will require extensive liaison with business and desk heads, all support functions, change teams and technology. The role will also demand the individual to be able tailor messages for differing levels including all levels up to GBM and Group leadership.

The role holder will be aligned to MSS and MKTY Transformation and the associated opportunities to transition to other transformation programmes following MKTY IBOR Programme closure.

Major Challenges
The IBOR transition (and other global benchmarks) marks significant challenge to the banking sector and specifically. This role will demand a dynamic set of skills to be able to execute MKTY strategy across the large Matrix organisation. The successful candidate will need to build a strong and trusted relationship with the affected businesses, COOs, and MKTY & MSS leadership. This will require that they ensure the organisation prepares and executes a cohesive transition strategy, encompassing all relevant geographies and functions, covering new product capability, discounting changes, hedging activity, Group funding and internal transfer pricing. This will require an understanding of the affected products (Rates and other products using benchmarks), clients, regulators, and a willingness to challenge, counsel and/or support the affected businesses.

The project scope covers several areas:

• New product trading capability requirements
• Product discounting transitions
• Migration to remove IBOR exposure
• Transfer pricing frameworks
• Hedge accounting capability to support GBL and entity NIM and risk mitigation of potential transitional operational loss
• Operating entity external funding, Group debt issuance, down streaming, intra group funding and associated operating entity hedging

Role Context

Large scale global Matrix organisation across all regions and asset classes. The successful candidate will need to be able and willing to operate in across the globe and drive client engagement strategy.

The expectation is that this role is hands on' and require firm, transparent ownership of the programme leadership, backed up by clear, concise and appropriate communications style. This should be underpinned by an individual able to exercise multiple influencing styles to get the programme fully shaped and executed

Technical Skill Requirements

• Proven project management skills. Able to flex influencing and communications styles depending on audience without losing focus or outcome. Should be able to operate within a Matrix organisation
• Proven record of delivering successful transformation for large regulatory initiatives
• Strong analytical and documentation skills, be detail oriented, and have a proven track record of understanding changes to operating models caused by regulatory change especially as this relates to platforms, people, processes and policy/procedures and working through to their implementation.

Educational Requirements

• Degree preferred

Personal Skill Requirements

• Demonstrable understanding and experience of programme/project management
• Detailed knowledge of how investment banks deal with large regulatory initiatives
• Understanding of treasury set-up within an investment bank and the ability to link this to trading activity and risk management
• Knowledge and experience of Fixed Income products (and benchmarks)
• Understanding of new benchmark reg, industry bodies (ISDA etc) and regulators
• Front to back change experience
• Excellent communication skills and an ability to interact effectively with colleagues of varying degrees of knowledge and with different skills set (day to day reporting to COOs) - experience of business management and working closely with and/or on desks is advantageous
• Strong internal stakeholder engagement skills and the ability to work with senior level stakeholders across different disciplines (Desk Heads, Business Management/COO, Risk, Product Control, Compliance, etc).
• Self starter able to take the initiative, be able to work with limited supervision and can facilitate meetings/workshops/working groups as required.
• Worked on large change projects that have had multi country disciplines.
• Ability to work within in a large geographically diver Matrix organisation

Experience

Responsibilities:

• Drive and deliver overall MKTY IBOR transition (LIBOR and other global benchmarks)
• Execute strategy for MKTY across multiple streams (as described above)
• Create and project manage sector aligned plans
• Provide frequent clear comms to all stakeholders
• Run relevant steering committees and working groups
• Identify and manage risks.

Additional knowledge:

• Treasury activity
• Multi Country knowledge
• Regulatory knowledge