Senior Functional Consultant Retail Banking Transformation
Experience: 7 12+ Years
Location:
Key Platforms: FIS, Fiserv, or equivalent Retail Banking Suites
About the Role
We are seeking a high-caliber Senior Functional Consultant to join our Financial Services Consulting practice. In this role, you will be a strategic architect of change, helping retail banks navigate the shift from traditional legacy banking business models to data-driven, customer-centric digital powerhouses.
As a key player in our team, you will lead the discovery and definition of complex problem statements, evaluate sophisticated solution options, and deliver actionable recommendations that redefine the banking experience.
Key Responsibilities
Discovery & Strategic Definition
- Current State Assessment: Lead comprehensive diagnostic phases to evaluate existing retail operations, identifying friction points in deposit banking and branch workflows.
- Problem Definition: Synthesize complex data and stakeholder feedback into clear, prioritized problem statements and business cases.
Business & Functional Analysis:
- Lead business process reviews and functional assessments across retail banking products / platforms.
- Document as-is processes, gaps, and opportunities for automation.
- Define functional requirements, BRDs, FRDs, user stories, and acceptance criteria.
- Partner with Product Owners on roadmaps, features, and prioritization.
- Participate in solution validation, UAT, and functional walkthroughs.
Modernization & Transformation
- Retail Channel Modernization: Guide clients through the evolution of physical and digital channels, ensuring a seamless customer experience.
- Target Operating Model (TOM) Design: Define the future-state organizational structures, processes, and technology alignments required to support modern retail banking.
- Customer Service Modernization: Implement advanced service models (AI-driven support, modernized contact centers) to improve resolution times and NPS.
Customer Experience & Analytics
- CX Enhancement: Design end-to-end customer journeys for deposit products and branch interactions, focusing on hyper-personalization.
- Customer Analytics: Leverage enterprise data management practices to provide insights into customer behavior, enabling predictive service and targeted product offerings.
Regulatory & Compliance Integration
- Compliance by Design: Ensure all solution recommendations embed regulatory controls (e.g., KYC, AML, Reg CC, Reg E) directly into the functional workflow.
- Risk Mitigation: Stay abreast of the evolving retail regulatory landscape to ensure client transformations remain audit-ready and compliant.
Stakeholder Management:
- Manage relationships with executives, product owners, data and Technology heads
- Act as a trusted advisor, managing expectations and navigating competing priorities in a fast-paced environment
- Facilitate sessions across Operations, Risk, Compliance, Technology, and Product teams.
- Prepare executive-ready documents including business cases, process models, and impact assessments.
Requirements & Qualifications
Core Requirements:
- Experience: 7 12+ years of progressive experience in Retail Banking functional consulting or business transformation.
- Domain Expertise: Deep knowledge of Deposit Banking, Branch Operations, and Retail Lending.
- Platform Proficiency: Hands-on experience or deep functional familiarity with core banking platforms such as FIS or Fiserv.
- Analytical Rigor: Proven ability to conduct detailed business process analysis and translate findings into executive-level recommendations.
Preferred Qualifications:
- Consulting Pedigree: Prior experience with a Big 5 consulting firm.
- Data Mastery: Solid understanding of Enterprise Data Management practices, including data governance and lineage.
- Regulatory Knowledge: Advanced understanding of the global or regional regulatory compliance landscape specific to retail consumers.
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