Torben Elkjær has over 25 years of experience as a project and program manager in the financial sector, primarily at Nordea Bank, and is now looking for new opportunities as an independent consultant. He has led large transformations, compliance programs, and analytics initiatives across multiple countries. Elkjær holds a Master's degree in Economics and certifications in Prince2 and PMP project management methodologies.

1. 1
Torben Elkjær
I have a degree asM.A. Econ. AndI am a certifiedProjectManager – Prince2and PMP. I have beenworking
as a Program- and ProjectManager for 25 years - primarilyinthe financial sector.Ihave beenresponsible
for manydifferentprogramsandprojects –among othersoutsourcingprojectsandcustomeroriented
projects.
Detailscanbe seeninthe attachedprojectCV.
My areaof competence isprimarilyinthe businessorientedparts. However,beingaprojectmanagerinthe
financial sector– I have alsopickedupa substantial IT-knowledge.Apartfromthis,Ihave alsoacted as line
manager.
Name: TorbenElkjær
Adress: Dyssegårdsvej 103,2860 Dyssegård
Mobil: +45 25292391
Fixed: +45 39563510
e-mail: torben.elkjaer@me.com
Birth: 11. maj 1954
Career: (referencescanbe suppliedondemand).
Mar. 2016 Lookingfora newjob
Oct. 2015 SeniorPM- Self-employed.
2003-2015 Project- andProgrammanager in NordeaBankDenmark.Quiton my ownbehalf endof
September2015.
2000-2003 Headof the IT departmentinFinance,NordeaBankDenmark.
1996-2000 Headof fixedincome analysis,BGBank
1994-1996 Programme Manager,GarantifondenforDanske OptionerogFutures
1990-1994 Headof fixedincome analysis,BikubenBørs
1988-1990 Consultant,DEMOApS
1985-1988 Economist, DagrofaA/S
1982-1985 Economist,Institute forFuturesStudies
Education and certifications:
2015: Prince2– Foundationand Practitioner
2006: PMP - (Has notbeenserviced)
1982: M.A. Econ. - Cand. Polit.

2. 2
Torben Elkjær
BusinessorientedProject- and Program manager.
Have beenworkinginthe financial sectorformore than25 years,assignedintomanydifferentpartsof the
financial industry. Manyprojects/programshave includeddevelopmentandimplementationinseveral
Nordiccountries.Some have beensectorsolutionsandsome have includeddifferentbusinessareaslike
Retail Banking,Wholesale Banking,WealthManagementandGroupFunctionswithinthe same bank.All
have demandedastrongand reliable program- orprojectmanagerwithagood overview andthe abilityto
communicate andto create and maintainstructure andprogress.
A structured,persistentandeasygoingpersonwithprovenanalytical andmanagementskills.
Belowyouwill findashortdescriptionof mypreviousassignments:
Assignments:
SeniorPM
Name: EstablishingSeniorPM
Role: Owner
Period: 10/2015 – 03/2016
Purpose: To establisharole as freelance projectmanager
Approach: Using4 differentthirdpartyconsultantcompaniesforgettingassignments as
projectmanager.
Responsibilities: Establishingthe freelanceidea.
Result: Contact database established,domainandhomepageestablished.4thirdparty
consultantcompaniesworkingandbringingincontacts.
Nordea
Name: Transformation of IT Domain
Role: ProjectManager/Line ManagementSupport
Period: 08/2014 – 09-2015
Purpose: To transformthe IT domainfrombeingcountrybasedand workingin a ‘traditional’line
organization,tobecome Nordicandworkinginagile groupscrossthe Nordiccountries
includingresourcesplacedinIndia.
Approach: Previouslythe Domainwasbasedonlocal systemsandlocal teamsbasedineachNordic
country.The consequencewasthatfourdepartmentswasaddressingthe same kindof
issuesacrossthe Nordiccountries – i.e. nocross Nordicalignmentwaspresent.
So,the intention,of the transformation,wastocreate a commonNordicservice
orienteddepartmentworkingafterthe agile principlesasmanifestedinthe scrumset-
up.

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Responsibilities:
Transformation of IT-domaincontinued.
Communicationandstakeholdermanagement
Identifyinganddocumentingbusinessprocessesformanagingthe extendeddelivery
teamsinIndia.
Result: Stakeholders identified
Communicationsapproachdesigned,decidedanddelivered
Homepage designed,decidedanddelivered
Processesdelivered
Comment: Due to lack of PM responsibilitiesIdecidedtoleave Nordeaandbecome freelance asof
01/10/2015
Nordea
Name: Anti-MoneyLaundering
Role: Program Manager.
Size: 4 projects - one in eachNordiccountry.4-6 persons’full time ineachcountry.
Period: 05/2013 – 08/2014
Purpose: Nordeaneededtobecome compliantregardingthe Anti-MoneyLaunderingand Anti-
Terror legislation. Once the legislationwasidentifiedanddocumented,anITsolution
securingcompliance inall Nordiccountrieswastobe implemented –deadlinebeing
endof 2014.
Approach: At the start no businessinvolvementwaspresent –exceptforthe compliance people.
Therefore,the approachwasto utilize the legaldocumentationandtranslate this
directlyintoITrequirementsinordertobe able to fulfil the legal requirementsfrom
the financial authorities(FSA’s).Focuswasonthe data requirementsasmanydata,
neededinordertobe compliant,wasmissing. The approachwastherefore tocreate
the neededdatainthe local legacysystemsanduse these systemstocreate the
neededreportingandcalculationstowardsthe FSA’s.
A programwithIT-deliveryprojectsandteamsinall Nordiccountrieswastherefore
established,whilebusinessdecidedhow tobecome involved.
Responsibilities: Responsible forcreatingthe ITsolution –or IT solutions –enablingNordeatofulfil the
compliance requirementsfromthe FSA’sbyendof 2014. (Knownasthe ITC program
at the time inNordea).
Result: Late summer2014 the local solutionswasreadytobe implementedinDenmarkand
Norway.PartlyreadyinFinlandandSweden.
August2014 a newbusiness departmentwascreatedforhandlingthe businessissues
involved.The newdepartmentandmanagementdecidedtoscrapthe almostready
local solutionsandputfull focusoncreatinga commonNordicSolution.
(Ifullysupportedthe solution –butnot withthe deadline endof 2014).

4. 4
Nordea
Name: FATCA
Role: ProjectManager/Reviewer.
Size: One project.4 specialistsinvolved.
Period: 03/2013 – 05/2013
Purpose: US tax authoritiesdemandedthatNordeacanreporton customersfulfillingcertain
criteriaforbeingtaxable in the US.
Approach: Due to lack of visible progressinthe FATCA project,itwasdecidedtocarryout an
independentevaluation/review of the projectinordertoensure implementationby
endof 2013.
Duringa twomonthsperiodareview of the projectwascarriedout as a Delfi review
– Questionsandanswers –followedupbya new sessionof questionsandanswers
etc.All inall a total of three roundswasperformed.
Responsibilities: Responsible forthe review.
Result: A reportcontainingaset of recommendationswasdelivered
Comment: Adaptingthe recommendedapproach,the FATCA projectwasevaluatedasbeing
able to deliverthe neededimplementationsindue time. (Astheydid).
Nordea
Name: Share of Wallet
Role: ProjectManager
Size: One NordicCore team – 3 personsinthe core-core team– 16 personsinthe big
team.
Period: 02/2012 – 03/2013
Purpose: By usingalreadyexisting customerdata- internal aswell asexternal –forcorporate
customers,estimatesforNordea’sshare of the customers‘consumption’of financial
servicescouldbe calculated. These shares,fordifferentservices,canthenbe used
for identifyingweakspotsinNordea’sservice offerings.Proposalsforimprovingthe
service offeringswasthentobe identified.
Approach: Workshopswithrelationshipanddepartmentmanagersusedtoidentifythe most
interestingsetsof datain orderfor the customerrelationshipmanagerstoimprove
the servicestowardsthe customers.
The outcome wasto be a Nordicapplicationuseable forthe Nordeasalesforce when
approachingthe corporate customersfornew and improvedproductsandservices.
Responsibilities: Responsible forboththe businessandthe ITapproach,developmentand
implementationinall Nordiccountries.
Result: A setof userinterfacesdefiningthe applicationwasdevelopedandagreedupon –
i.e.readyforfinal IT specifications.
Comment: The projectwas a resultof the predecessor:‘ITRoadmap5 years aheadforSegment
Corporate’.

5. 5
Nordea
Name: IT roadmap. (5 years ahead for segmentcorporate)
Role: ProjectManager/facilitator
Size: 10 persons.
Period: 01/2011 – 02/2012
Purpose: In orderto be able to implementaratherambitiousbusinessstrategy,forcorporate
customers,a viable andcomprehensive ITstrategyhadto be identified.
Approach: Nordicworkshopswithrelationshipanddepartmentmanagers,ITarchitects,
analytical peopleetc.identifiedasetof IT capabilitiesneeded. These capabilities
was thensupportedbya setof ‘enablers’(Projects) prioritizedinordertofacilitate
the businessstrategythe bestpossible way.
I.e.as an example itwaspartof the businessstrategytoincrease income andatthe
same time to improve customerrelations.The ITenablerwasthe identificationof
the 'share of wallet'system/project.
Responsibilities: Responsible forthe overall approachandimplementation.
Result: A setof 20 differentbusinessandITprojectswasidentifiedandprioritized.
A decisioninmanagementoutlinedthe topthree projectsasbeinginline for
implementation.Amongthese wasthe ‘Share of Wallet’project.(See above).
Comment: All three ‘top’projectsare active endof autumn2015.
Nordea
Name: CIMSSA
Role: Program Manager
Size: 4 local projectsin3 streams(Procurement,BusinessChange ManagementandIT)
35-45 persons.
Period: 05/2009 – 12/2010
Purpose: If possible,the entirecard businessinNordeawasgoingtobe outsourcedto
external vendors,bothregardingIssuing(creatingandissuingthe cards) and
regardingAcquiring(handlingpaymentsrelatedtothe cardtransactions).
Approach: The outsetwasto establishwhetheror notthe outsourcingthoughtwasviable or
not.First thingwasto identifyandevaluatepossiblevendorsandtheirproposals.
I.e.withoutvendorsnooutsourcing.
However,tree differentprojectswasestablished:A projecthandlingthe
procurementpart – handlingthe differentvendorsforIssuingandAcquiring - a
projectpreparingthe change managementpartsinbusinessandfinallyaproject
preparingthe IT implicationswithinNordea.
An RFP(RequestforProposal) andRFPprocessincl.acceptance criteriawas
established.AS-ISandTO-BErequirementsdocumented.
Responsibilities: Responsible forthe overall approach.
Result: A setof 8-10 differentvendors wasidentifiedandapproached. However,the issuing
part didnot findanystraightforwardoutsourcingsolutionsasthe startingpointwas
quite differentinthe differentcountries.

6. 6
The Acquiringpartwas eventuallyoutsourced.
Nordea
Name: MIS
Role: Program Manager
Size: 4 local projects – one ineach countryand 3 streams(Reporting,Invoicingand
bookkeeping).ITdevelopmentwasoutsourced –exceptfordatamanagement.All in
all 10 personsineach countryand 6 from the external vendor.
Period: 03/2006 – 02/2009
Purpose: Establishingastraightthroughprocessingsystemforhandlingreporting,invoicing
and bookkeepingforthe whole of Nordea'ssub-custodybusiness.(I.e.international
banksusingNordeacustodyservicesfortradingin Nordicequities,bondsetc.)
Approach: The programutilizedthe SWIFTset-up. All tradingordersetc.wasestablishedand
documentedviathe SWIFTmessages.
The program wasdividedintothree differentareas:Reporting,Invoicingand
Bookkeepingandfurthermore approachedcountrybycountry(Sweden,Denmark,
Norwayand Finland).
Responsibilities: Responsible forthe overall approachandimplementation.
Result: The systemwasimplementedinall Nordiccountrieswithsuccess. Afterwards,the
customers(Majorinternational bankslike UBS,MorganStanley, Deutsche Banketc.)
usedthe MIS-reportstofinderrorsin theirownsystems.
Comment: The total programcost was paidback one yearafter closure,due toincreasesin
numberof customers.
Assignmentfor Nordeaand ATP.
Name: Funds offunds. (Særlige pensionsopsparing)
Role: ProjectManager
Size: One projectinNordeaand anotherprojectinATP. I was responsible forthe Nordea
part. All inall some 10-15 personsinthe Nordeapart.
Period: 01/2005 – 03/2006
Purpose: Nordeaactedas CustodianforATP – Denmark’slargestpensionfund.
It was decidedby'Folketinget'(Danishparliament) thatATP shouldmake itpossible
for all Danesto administertheirownsavingsinthe so-calledSP - 'Særlige
Pensionsopsparing'. Nordeawastomake thispossible forATPbyendof 2005. If we
failedtomake thispossible itwouldbe apublicrelationsdisasteras the projectwas
highon the agendainthe dailypress.
Approach: The projecthada Nordeapartand an ATP part. Inorder to succeedco-operation
was needed,andinordertomake the solutionasa STP solution,several new
approacheshadto be invented.Asanexample;non-existing‘shadow’tradeshadto
be reportedinorderto make the IT communicationworkfaultlessbetweenNordea
and ATP.
Responsibilities: Responsible forthe Nordeapartsof the solution.
Result: A STP set-upwasputintoproductioninDecember2005. Officiallyclaimedopenby
the Ministerof Trade and Industry.Some minorcorrectionswherehandledduring
the firstthree monthsof 2006.
Comment: SP workedtechnicallyperfectforsome years.Waslatercloseddue tolack of
interests fromthe public.

7. 7
Nordea.
Name: Basel II
Role: Projectparticipant
Size: In Nordeaassuch it wasa ratherlarge project.My involvementwaslimitedto
Period: 03/2003 – 08/2004
Purpose: Prepare Nordeaforthe Basel IIrequirements.
Approach: Handleddata conversionsinordertobe able to use a thirdparty system(Wall
Street) forBasel IIreporting.
Responsibilities: Responsible forconversionsof derivativeproducts.
Result: Conversionswasasuccess.
Comment: Afterleavingasa line managerinthe Finance departmentIhadseveral different
assignments –Basel IIbeingthe mostsignificant.
Nordea/Unibank.
Name: Head of IT in the Finance Department in Denmark
Role: Headof department
Size: 35 persons
Period: 01/2000 – 03/2003
Purpose: Ensure that all IT aspectsof the Finance DepartmentinNordeaDenmarkwas
handled –i.e.yearlyaccounts,external andinternal reportingetc.
Responsible managerfor35 persons.
Approach: Line management.
Responsibilities: Nordeachose to relocate mostof the Finance operations –includingthe ITparts - to
Stockholmbyendof 2002. Managed a controlledscale downfrom35 employeesto
12 employeesinDenmark.
Result: The scale downwas a successas all redundantemployeesinDenmarkwasrelocated
to otheremploymentwithinNordea.
BG Bank/Realkredit Danmark.
Name: Mortgage backed loans withinterestrate guarantee
Role: ProjectManager (BG Bankside)
Size: 3-6 people onthe BG Bankside.
Period: 01/1998 – 12/1999
Purpose: Enable RealkreditDanmark(RD) toissue a new product:mortgage backedloans
withinterestrate guarantees.(Flexlånmedrentegaranti).
Approach:
The responsibilitieswasdividedinto the marketing/sellingpartsof the new product
and the fundingandriskhandlingparts.RD handledthe marketingpartsandBG
Bank handledthe fundingandriskmanagementparts.
Responsibilities: Was responsibleforthe entire set-upinBGBank. The main challenge beinghowto
avoidlosseswhenpaymentsfromthe customershadbeenguaranteedatafixed
rate.On top of that all communicationetc.wasto be handledSTPbetweenRDand
BG Bank.

8. 8
Result: The implementationwasasuccess.FundingandRiskhandlingwasworking
perfectly.However,the product - the interestrate guarantee wasneverasuccess.
The price for receivinganinterestrate guarantee wasprobablytoohigh.
BG Bank
Name: FixedIncome research
Role: Headof FixedIncome research
Size: 8 academicemployees.
Period: 01/1996 – 01/1998
Purpose: Enable BG Bank to provide solidfixedincome (rente)analysisandadvice toexternal
and internal customers.
Approach:
Writingresearchpapersregardingfixedincomeissues. Tradingpropositions,risk
managementreportsetc. Bothregularmonthlyandweeklyreportsandadhoc
reports.
Responsibilities: Was responsibleforthe professionalcontentof the reportsandadvice.
Result: Accordingto Prospera, BG Bankhad a good reputation regardingFixedIncome
Research duringthe time.
Garantifondenfor Danske Futuresog Optioner
Name: Central Clearing- and Margin system
Role: ProjectManager
Size: Three mainstakeholders:VP,The stockexchange and the Guarantee Fund.All inall
30+ People involved.
Period: 07/1994 – 12/1995
Purpose: Enable the Danishfinancial sectortotrade and control listedfinancial futuresand
options.
Approach:
A projectset-upinvolvingthreecentral stakeholders –The Guarantee Fundfor
DanishFuturesandOptions,The StockExchange and the registrationplatformfor
securitiesassuch(VP) hadbeenestablished.A ProjectBoardinvolving
representativesforthe remainingstakeholderslike the central bank,commercial
banks,brokers,soft-ware vendorsandotherfinancial institutionswasestablished
as well.
Responsibilities: Was responsibleforthe overall projectpartsinvolvingthe Guarantee Fundfor
DanishFuturesandOptions.
Result: The projectwas delayed once for3 months.Was setinproductionwithoutany
problemsearlywinter1995.

9. 9
BikubenBroker
Name: FixedIncome risk management
Role: FixedIncome DerivativesMarketMaker
Period: 1992 – 1994
Purpose: Enable BikubenBørstobe part of the fixedincome establishmentinDenmark.
EnablingBikubenBørstohandle risktakinginthe fixedincome market –andto
make a profitdoingso.
Approach:
Used 8-10 hoursa dayfollowingthe price movementsinDanishandforeignfixed
income markets. Buyingandsellingpositions.
Responsibilities: Had a grosspositionlimitof 800 mill.DKK
Result: Overall asuccess.Especiallyaswe managedtomake a profitduring16/9 1992 when
the Britishpoundwas‘broken’byGeorge Soros.
Comment: I foundis extremelyexhaustingtolookat screensforthe whole day.
BikubenBroker
Name: Head of FixedIncome research
Role: FixedIncome Derivatives researcher
Period: 1990 – 1992
Purpose: Enable BG Bank to provide solidfixedincome (rente)analysisand advice toexternal
and internal customers.
Approach:
Writingresearchpapersregardingfixedincomeissues. Tradingpropositions,risk
managementreportsetc. Bothregularmonthlyandweeklyreportsandadhoc
reports.
Responsibilities: Was responsibleforthe professionalcontentof the reportsandadvice,andat the
same time handling4academicemployees.
Result: BikubenBørs hada goodreputationduringthe time.
DEMO Aps
Name: Financial Futures and Options
Role: Consultant
Period: 1988 – 1990
Purpose: Enable DEMO Aps to become acentral soft-ware vendorwithinfinancial Futuresand
OptionsmarketsinDenmarkandSweden.
Approach:
Performingeducationregardinghow touse FuturesandOptionsfortradingand
hedging(riskmanagement).DevelopedSoft-Ware systemsforthe same purposes.
Responsibilities: Accountmanagerand educational consultant.
Result: DEM existedfortwoyearsandthenthe owner(KjeldScherfig) scaleddownthe
business.

10. 10
Priorto the above I have beenemployedfortwoyearsat DagrofaA/S andfour yearsat the Institute for
FuturesStudiesinCopenhagen.