Functional Consultant Transaction Banking

4 days ago

Singapore Tech Aalto Full time $120,000 - $200,000 per year
Domain Consultant – Transaction Banking

We are looking for experts with around 10 years experience in Transactional banking as Functional consultant for
  • Payments
  • Credit
  • Limit Management
  • Pricing (Corporate & Retail)
  • Deposits
Product Rationalization:
  • Work closely with business stakeholders, system integrators, and core banking vendors to assess the current product catalogue across retail, SME, and corporate segments.
  • Identify products to be sunset, products to be migrated to the new core system, and new products to be introduced.
  • Refine and redesign products selected for migration to ensure alignment with the new core banking platform's product architecture and conceptual model.
  • Advise on simplification, bundling, and innovation opportunities, incorporating capabilities from the core banking vendor (e.g., pricing engine, rule configurator).
Process Re-engineering:
  • Focus on re-engineering core banking-related processes directly tied to the product scope.
  • Target processes include: accounting flows, control and fund reservation mechanisms, management of value-bearing instruments such as deposit books and term certificates, and end-to-end product lifecycle processes.
  • Product lifecycle processes include the definition of new product codes, product tree structures, pricing and fee schemes, and procedures for sunsetting obsolete products.
  • Identify automation opportunities and pain points within these areas and propose lean, scalable process improvements.
Target Operating Model (TOM):
  • Define the future-state TOM across key domains such as Core Banking, Lending, Payments, Pricing, Limit Management.
  • Include governance and operational processes for managing the full lifecycle of financial products, from launch to retirement.
  • Align TOM with business strategy, cloud-native architecture, and future product/service offerings.
Requirement:
  • 8–15 years' experience in transaction/corporate banking, with focus on Payments/Credit/Limits/Pricing
  • Prior involvement in large transformation programs or strategic product design
  • Exposure to platforms like T24, Finastra, Oracle FLEXCUBE, FIS, or in-house banking platforms
  • Strong business analysis, stakeholder management, and documentation skills
  • Experience working with consulting firms, banks, or fintechs on strategic initiatives
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