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Agile in Finance

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Adoption of agile principles and practices in finance

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Agile in Finance

  1. 1. Sriram (Sri) Natesan linkedin.com/in/sriramnatesan @sriramnatesan AgileinFinance November 20, 2017
  2. 2. Somethingaboutme.. •  Agile Transformation Consultant @ Deloitte •  14+ years experience in coaching, leading transformation, and product development in North America, Europe and Asia •  Industries: FSI, Healthcare, FMCG, Auto IT Retail, and Software Industries 2
  3. 3. Gettingtoknowyou.. •  What is your primary function in your Organization? •  Who has experience adopting agile outside of Technology? •  Who has done agile in Finance? 3
  4. 4. Whatyoucanexpect.. •  Illustrate how agile principles was adopted outside of Technology •  How an agile approach helped with planning and delivery of an initiative •  How Finance and Risk groups harvested business value through a regulatory led initiative 4
  5. 5. ThoughtsandGuidingPrinciples.. •  This is an experience report on a specific use case of agile adoption in Finance •  We will not focus on regulatory compliance details •  Ask questions as they arise, there might not be enough time to solve your specific problems (hope you understand) •  The slides will be made available online Oh…and please provide your feedback for this session! 5
  6. 6. Backdrop 6
  7. 7. PressureFinancefunctionfaces.. •  Need for innovation and newer products •  Supporting top line growth in current market •  Increasing cost savings •  Compliance with increasing regulatory demands 7
  8. 8. Howthey’readapting.. •  Building scalable and adaptable Finance systems to support newer markets, products and entities •  Use of data to generate actionable insights •  Adopting emerging technologies to support savings and efficiencies •  Agile organization and delivery approach to focus on business value 8
  9. 9. CaseStudy 9
  10. 10. AlargeEuropeanBank.. •  Undertook a regulatory compliance (IFRS9) program •  Program was driven by Finance & Risk groups, enabled by Technology 10
  11. 11. KeyChallenges.. •  Aggressive timeline •  Evolving business requirements •  Integration of new technology assets •  Lack of knowledge and experience in solution domain •  Lack of trust and collaboration between Business & Technology 11
  12. 12. SimplisticSolutionView.. 12
  13. 13. Bighairyapproach.. •  BUFD, one time planning, traditional reporting •  Silos in business, technology and vendor teams •  Risk – Reputation, Quality, Timeline.. 13
  14. 14. AgileApproach
  15. 15. Prioritization&Planning.. •  17 different source systems in total scope for the program •  5 source systems covered ~75% of the loan book size •  4 MVP | Tranches to deliver the total of source systems •  Value Stream Mapping (VSM) of activities for a source system •  Plan MVPs using estimated Lead Time 15
  16. 16. Flowbasedexecution.. 16 •  Use Kanban to visualize progress, bottlenecks in the Value Stream •  Capture metrics for each source, use empirical data to refresh plan
  17. 17. PracticesandTools.. •  Practices and Tools: •  Kanban Board – policies, WIP limits •  Daily Scrum & Scrum of Scrum •  Risk, Issues, Blockers (RIB) •  Reviews & Retrospectives •  Reporting (CFD, Business Value) •  Use of empirical data to refine the plan •  Training, and a lot of coaching support for the teams and leadership 17
  18. 18. Diditwork?
  19. 19. Outcomes.. •  MVP or Tranche based planning and execution •  Focus and diligence on managing WIP limits •  Cross functional collaboration between Finance, Risk and Technology •  Incremental value delivery, and feedback from stakeholders early •  Agile has since become the NWOW for Finance & Risk group 19
  20. 20. Tosumup.. •  Digital Finance has gained momentum •  Building scalable and adaptable Finance systems •  Complying with increasing regulatory requirements •  Adoption of emerging technologies in Finance group 20 Agile principles and practices can support Finance and other functions outside of Technology to deliver value to the business
  21. 21. Stayintouch.. 21 linkedin.com/in/sriramnatesan @sriramnatesan
  22. 22. My(next)pitstops.. •  How I changed a team by doing “nothing” @ GOAT2017 •  How I changed a team by doing “nothing” @ Paris Agile Tour ‘17 22
  23. 23. ThankYou!

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