Regulatory Project Manager - Compliance ensures that all regulatory projects have the appropriate governance, transparency and oversight. Ensures that the rationale, progress and decision making is robustly documented and evidenced to withstand regulatory scrutiny.
Within CPM individuals in this role, run regulatory driven projects across the EMEA region or projects that impact multiple departments or offices.
For the duration of a project, the Project Manager reports to the Project Sponsor (C-level or at minimum GM level stakeholders) for the purposes of the project. This requires regular briefing interactions with these stakeholders. In addition, the PM is required to liaise with key external consultants, legal firms, industry bodies, vendors and market participants to maintain a comparative market perspective.
All regulatory projects involve gaining a clear understanding of the requirements of the regulation, the impact on the organisation and delivering the changes needed to bring the organisation into compliance within the deadline. Regulation frequently needs to be interpreted in line with our business profile. Keeping the organisation in line with the market is key and final regulation/technical specifications are often not issued until very near to the implementation deadline bringing additional pressure. If the project is unsuccessful the organisation is left open to the threat of regulatory penalty and additional scrutiny.
Accountable for annual project budgets ranging between USD35k - 750k (this excludes systems costs)
Project length can range from 6 months - 2 years in duration
Operates across several EMEA offices, these may have differing requirements, resources and regulation nuances requiring the PM to plan and implement multiple alternative solutions (for example the German Banking regulator may have interpreted a directive differently to the UK regulator, the PM needs to plan and capture these differences within their project plan and alter or create new deliverables accordingly)
Interfaces with C-level project sponsors and manages SteerCos compromised of multiple GMs. Must meet and brief the Project Sponsor on a regular basis and educate them on the complexities of the change and the regulation
Responsible for managing all project lifecycle activities associated with delivering projects that are regulatory driven, frequently medium-term in length, impact multiple departments or offices and are medium in risk, scope and complexity.
Plan and drive completion of all project deliverables including the business case, regulatory requirements, project roadmap, budget, testing, deliverables implementation and handover into business as usual
Identify and then judge when to escalate risks and issues and their associated mitigation plans to the C-level Project Sponsor and appropriate committees (SteerCo).
Achieve appropriate governance and transparency for the project so that the appropriate oversight is achieved.
Recognize and rapidly adapt to ongoing change during the project. Document internal and external impacts including impact on existing policies and associated procedures, formulate and present suitable mitigation plans and ensure all updates are completed to impacted areas.
Frequently responsible for 3-5 projects that all have different drivers and deliverables with associated deadlines and priorities. They may work not only on regulatory projects but also on internal projects that deliver change in working processes and systems in order to deliver efficiencies.
The role requires the candidate to be educated to degree level or have significant specialist knowledge
Industry recognised modern project management qualification such as PMP or APM preferred
Experience & Knowledge
knowledge and experience of financial services, markets and banking activities and the surrounding regulatory framework;
prior experience of successfully delivering regulatory projects within financial services
strong interpersonal skills including ability to lead rather than manage, to set the vision for the project, gain team and organisational buy-in, anticipate and resolve conflict, motivate, negotiate and coach so that project objectives are met;
strong, effective communication skills both written and oral, including diplomacy in offering challenge
knowledge of effective team building and some experience of team management skills.
practical and willing to get involved in tasks, when necessary, to ensure objectives are achieved