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Robotic process automation and its implications for programme management office
Journal of Digital Banking,
4
(3),
244-253
(2019)
Abstract
Robotic process automation (RPA) is being adopted across various industries to ease employee workloads while cutting costs. It automates a host of tasks such as monotonous data entry, answering simple customer service requests and developing management reports, to name a few. Financial services are no exception, and RPA has made its way into this industry as well. Using this technology, financial workers can avoid having to spend time on repetitive, labour-intensive tasks and focus on value-added tasks. Programme management office (PMO) has historically been a critical area within the financial services domain where resources have invested a lot of effort to ensure timely project delivery in order to deliver value to stakeholders. As the RPA programme scales beyond Proof of Concept, it promises to significantly improve the PMO function by accelerating time to market on project execution and migrating from manual operations to a technology-driven capability.
Keywords: robotic process automation (RPA); emerging technologies; financial services; programme management office (PMO)
The full article is available to subscribers to the journal.
Author's Biography
Manan Shah is Director at PricewaterhouseCoopers. He is a global leader with over 15 years of experience in transforming the largest financial organisations from strategy through execution. In his role, he has identified and cultivated client relationships, identified opportunities and managed delivery teams. Manan has expertise delivering solutions across all functions of trade capture, middle office processing, settlement, clearing, collateral and counterparty risk management, liquidity, risk management and compliance. He has expertise in digital transformation, business and technical architecture development, business process redesign, vendor selection and implementation, and programme management. Manan is recognised as a market leader in the collateral and counterparty risk management field. He has been invited to participate in ISDA (International Swaps and Derivatives Association) working groups to provide guidance and expertise in order to make financial markets safer, more transparent and operationally efficient. He has published a number of papers in major publications and industry journals. Manan works actively with numerous financial services publications and serves on the editorial boards of many of them. In view of his expertise and professional services to the industry, Manan was honoured as one of 25 Global Consulting Leaders for 2018 by Consulting Magazine, the flagship publication of the consulting profession. Manan holds a double master’s degree (City University, London and Carnegie Mellon University, Pittsburgh).
Rajbir Samra is a manager in the Banking and Capital Markets practice within Financial Services Advisory. He has over twelve years of experience in technology consulting, project management, process and operations for large financial services firms. He has led successful PMO transformation projects across different geographies. He has managed Op-model function as part of a major back/middle office transformation program and has successfully led cross-functional business and IT projects towards successful delivery and implementation within the financial services industry.
