EY Retail Banking Operations Senior Consultant - Financial Services - London in London, United Kingdom

Retail Banking Operations Senior Consultant - Financial Services - London

Advisory

Requisition # LON00D2R

Post Date Oct 24, 2018

Business Area: FSO Performance Improvement

Sector: Retail & Corporate Banking

Competencies: Operations

Level:

Background

With an unmatched reputation for industry insight, technical expertise and delivery excellence, EY is experiencing significant growth within its financial services Performance Improvement consulting practice. Within this, we are continuing to expand our retail banking operations advisory team and are looking to recruit individuals with relevant experience in both banking and operations change to join this team.

Our Focus

The UK banking operations team of 30 consultants specialises in designing better banking businesses, serving clients across retail and corporate banking, cards and payments sectors. Our clients are facing pressure from regulators to improve customer outcomes and reduce systemic risk; from shareholders to improve returns through improved efficiency and reduce cost; and from customers to deliver seamless, digital and customer-friendly services which match those they experience in other sectors and being offered by traditional and new, often fully-digital, competitors.

To meet these challenges, the banking operations team supports our clients with services such as customer and back-office process and control re-engineering and digital automation, cost reduction, operating model design to support large-scale change and regulatory-driven change design. We aim to deliver these services in an efficient and digitally-enabled way to manage the risks and costs inherent in redesigning such complex business operations.

The team contains consultants with deep expertise in key operational functions such as marketing, customer service, complaint handling, payment processing and collections across retail and corporate transaction banking, saving and lending products. This team is based in London, Leeds, Manchester and Edinburgh but work frequently demands being on our client premises to work closely with them to design and deliver effective change. To deliver our services, we will often also work with EY colleagues with complementary expertise in technology, regulation, people and data among many others.

Our aim is to be recognised as market leaders in UK banking operations consulting and to help our clients transform their businesses to make them operationally fitter and, ultimately, more successful for all stakeholders: customers, staff, shareholders, industry authorities and wider society.

Responsibilities

We are looking for people who can perform detailed analysis as well as design and implement practical and innovative solutions to address our clients’ challenges. Responsibilities include:

  • Contributing and/or leading on process re-engineering initiatives that result in real benefits to the client both financially and from a compliance point of view

  • Design and implement new or enhanced operating models applying our Enterprise Operating Model approach. This needs to be done within a specific function or enterprise wide.

  • Identify and implement cost reduction opportunities across an entire organisation or within a specific function

  • Work with our clients who are in the process of merging or de-merging (including carve outs) to ensure their operation functions going forward

  • Operationalise regulatory driven changes e.g. Financial Crime (including AML, Sanctions), Tax, Conduct Risk, Cyber, Access Controls, KYC etc

  • Support the wider team with the development of thought leadership, benchmarks, quality and risk management activities as well as team events

  • Help develop our business by supporting sales activities and leveraging their own networks and contact

  • Adopt to the advisory life style which includes flexibility to work away from home – sometimes for longer periods of time

We are looking for candidates at Senior Consultant level. All the above responsibilities apply to all grades at different level of depth. Additional responsibilities for the Senior Consultant grade are:

  • Deliver on a client assignments as part of a larger team

  • Networking to develop long-term trusted relationships

  • Aiding proposals and bid teams

  • Participating in on-site EY delivery teams

  • Liaising with service line teams, functional specialists and Area Partners

  • Enhance skills that will help develop EY’s business

Pro-actively support the people agenda including buddying for new joiners

To be successful in these roles, you will require the following:

Industry Experience

  • Successful track record in retail banking operations gained through a top tier consultancy (Big 4, IBM, Accenture etc.), a specialist financial services consultancy or a top tier Bank

  • Appreciation of current market trends in Retail Banking, Corporate Banking and/or Wealth Management and the related operational areas

  • Knowledge or at least an awareness of the regulatory challenges that banks face and their impact on operations

  • Knowledge and skills in specific areas of a bank either as part of a wider function or specific processes

  • Ability to transfer industry specific skills to similar situations outside the own area of specialism

Technical Skills

  • Strong retail banking operations experience either enterprise wide or within a specific function or process. This also includes operations and capacity planning and operations strategy.

  • Specific skills in one or more consultancy approaches such as process re-engineering, Target Operating Model development and implementation (ideally at a group or divisional level), cost reduction, post merger integration and carve outs etc. Specifically, we are keen on the following two skills:

  • Process Improvement - Business Process Re-engineering (BPR), Business Process Management (BPM), Workflow, Exception Processing, Process Control Review and Design, Six Sigma, Lean, Process Modelling

  • Operating Model Design - Target Operating Model, Organisational Design, Functional Architecture, Locational Model, Application Architecture, Sourcing Models, Onshoring / Offshoring, Shared Services etc

  • Regulatory and Risk insights impacting retail banking operations such as FATCA, AML, KYC, Conduct Risk etcProfile and Skills

  • Ambition to build / develop a career in advising Financial Services clients

  • Natural networker that has and/or develops strong relationships that can be leveraged for EY

  • Intellectual strength / flexibility to rapidly understand complex problems and rationalise these into a workable solution which can then be delivered

  • Ability to develop and deliver high quality output against stated project objectives and meet tight deadlines

  • High level of drive, commitment to achieving solutions, and ability to work under pressure

  • Ability to develop impactful written presentations and participate effectively in meetings with senior clients

  • Team player who openly supports, encourages and shares knowledge with colleagues

  • Ability to work under limited supervision (‘self starter’) in unstructured environments

  • Excellent graduate level education

  • Flexibility to travel to, and work in, other locations is essential

Who we are

At EY our inclusive work environment means that everyone’s opinion is valued. This enables us to provide better advice and ideas to our clients, which in turn helps you develop as an individual to achieve your potential and make a difference.