Exploring the Role of an Implementation Consultant in Treasury Management for Commercial Banking
As the world of commercial banking continues to evolve, the need for professionals with unique skills continues to grow. One such role that is gaining prominence is the Implementation Consultant, specifically in the treasury management implementations of a bank. This article aims to provide a detailed understanding of the high-level job description of an Implementation Consultant within the US commercial banking sector.
Key Responsibilities of an Implementation Consultant
When it comes to understanding the role of an Implementation Consultant in Treasury Management Implementations, several key responsibilities come to the fore:
- Consultation: The consultant provides valuable advice to the bank, sharing expertise on the process and workflow of the product. This includes supporting product feature mapping conversations and adapting to business needs.
- Collaboration: The consultant works closely with other team members and organizational entities to identify and monitor issues, impacts, and dependencies involved in implementing the commercial banking product for Backbase customers.
- Testing: An essential part of the consultant’s role involves assisting the bank with their test plans and ensuring proper test coverage. They also support with production readiness and testing, and assist the client with issues that arise during the testing cycle.
- Change Management: The consultant contributes to the implementation change management process, which is crucial for successful product adaptation.
- Data Transfer: The consultant supports or performs mapping sessions with the client to transfer data from the client’s legacy system into the Backbase system.
Day-to-Day Operations of an Implementation Consultant
As an Implementation Consultant or a Backbase Customer Consultant, the professional becomes the primary point of contact for clients, providing ongoing support and expertise in the following areas:
- Answering Client Questions: The consultant promptly and accurately addresses inquiries, demonstrating a deep understanding of the products or services. This involves both providing information and troubleshooting issues.
- Offering Solutions based on Expertise: The consultant proactively identifies client needs and proposes tailored solutions. This requires leveraging their industry knowledge to help clients optimize their use of the offerings and achieve their goals.
- Building Strong Relationships: The consultant serves as a trusted advisor, building rapport and maintaining a positive, long-term relationship with each client.
- Providing Ongoing Support: The consultant is responsible for continuous engagement, checking in with clients, and ensuring their satisfaction and success over time.
Project Workflow and Management
From initial client discussions to final management of tasks, the project process within services involves a clear and collaborative workflow. This process includes:
1. Initial Requirements & Planning
- The consultant attends client meetings to fully understand customer needs and initial requirements. They then collaborate with the project team to review and align on these requirements, providing industry insights and best practices to inform the project’s direction.
2. Requirements Refinement
- The Business Analyst (BA) leads refinement sessions, with the Implementation Consultant (IC) providing support and expertise. The BA and IC align on requirements and solutions before these sessions, ensuring a unified front when discussing with the client.
3. Request for Feature (RFF) Creation
- The consultant assists in creating RFFs, which document client requirements. Project team members can create tickets in Jira to capture and explain specific client needs, ensuring the business value is captured.
4. RFF Management & Development
- The consultant reviews RFFs against industry standards and best practices. They collaborate with the R&D team to refine RFFs, ensuring they align with the product roadmap and technical capabilities. The consultant manages the progress of RFFs with R&D, acting as the primary liaison to ensure timely completion.
5. Maintenance & Support
- The consultant creates or converts RFFs into maintenance tickets as needed to address ongoing client requirements or issues.
As a highly specialized role, the Implementation Consultant in Treasury Management Implementations plays a crucial part in the successful execution of commercial banking products for Backbase customers. They are the key to ensuring that these implementations are not only effective but also provide the most value to the bank and its customers.
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