Job Description

Reference # : 21-00142Title : LIBOR Contract Management Transformation Lead
Location : Telecommuter, NY
Position Type : Contract
Experience Level : Start Date / End Date : 03/01/2021 / 12/31/2021

Job title: BCMA LIBOR Contract Management Transformation Lead

The transition from LIBOR to Risk Free Rates is an industry-wide exercise, which is estimated to impact financial contracts with a value of around $400 Trillion. Major Global Bank has a well-established LIBOR transition Initiative underway. Banking, Capital Markets and Advisory (BCMA) has a key role in this initiative given the transition impacts both the clients managed by BCMA and the products (debt capital markets, loans, and agency & trustee services supporting these businesses). As a result, there are a number of working groups within the LIBOR Initiative, where BCMA plays a leading role. In particular, we are responsible for the contractual management of Major Global Bank's corporate and leveraged finance loan portfolio and for ensuring they are transitioned successfully to the new Risk Free Rates (RFRs).
Working as part of the Major Global Bank LIBOR Transition Initiative, the role would entail developing the procedures and processes needed to implement the transition of LIBOR interest rates to Risk Free Rates in the appropriate time frame. The LIBOR program is global in nature so the incumbent will be developing relationships and working with senior stakeholders across all countries, business and control functions. The role will work closely with BCMA, Legal, Risk and Operations seniors.

Key Activities of Role:
-Analyze existing processes for Banking and Operations related to the LIBOR transition; to facilitate the Implementation of the contract management process
-Develop the processes and procedures needed to implement the LIBOR contract management in the next 6-9 months
-Plan end-to-end contract management of the transition from LIBOR to RFRs; with BCMA, Operations and Risk
o Banking and Risk preparation for LIBOR contract management to guide Loan Operations
o Loan Operations updates to the processing systems for accurate transition of rates
-Collect relevant data for monitoring contract management transition of legacy contracts
-Coordinate between legal, business and other stakeholders to prepare for contract management transition of legacy contracts

Skills & Experience:
-Minimum of 10 years relevant experience in global banking or transactional services environments in a regulated environment
-Project management experience, including the demonstrated ability to create project timelines and to make sure deliverables are on time
-Capability to work independently and quickly
-Certifications in operational excellence methods such as LEAN, Agile and Six Sigma
-Experience in leading large scale transformation programs
-Experience in senior stakeholder management
-Financial markets product knowledge – highly desirable
-Understanding of LIBOR and its implications within the industry - desirable
-Strong interpersonal and communication skills (oral and written) with excellent influencing ability


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