Written by Michael McAlary
Service Area: Program and Project Management
Industry Sector: Financial Services - Retail Banking
The main responsibilities were:
- Build a loan serviceability calculator for retail and business banking that would comply with Australian Prudential Regulatory Authority's (APRA) standards.
- Develop scorecards and benchmarks that could be universally applied.
- Develop workflow and web forms to support data entry and reporting.
- Install the serviceability calculator across multiple branches.
The main challenges were to:
- Overcome differences in overseas lending practices.
- Work to an APRA imposed deadline.
- Manage a relatively unsophisticated client with regard to the IT development process.
The main achievements were:
- Developed, tested and implemented an effective solution within deadlines and budget.
- The new software system greatly improved the uniformity of credit policies across branches.
- The reporting included alerts for data integrity issues to ensure correctness of reporting.