The financial crisis of 2008-2009 caused a great deal of turmoil. I remember reading about the collapse of Lehman Brothers and the alarmist media coverage following that event. During the crisis, regulatory authorities did what they could to cope with events. After further reflection, legislators decided to implement sweeping changes. In today’s interview, we will learn about how new laws and regulations have reshaped the capital markets industry.
Today’s featured guest is Susan Mannella, PMP. She is self-employed project management consultant. She is currently working with Scotiabank Global Banking and Markets. Prior to Scotiabank, Susan worked on projects at CIBC, Bank of Montreal and other financial firms.
Bank of Nova Scotia At A Glance (“Scotiabank Global Banking and Markets” is one part of the Bank of Nova Scotia)
- Founded in 1832 in Halifax, Nova Scotia.
- 2013 Profit: $6.6 Billion Canadian
- 2013 Global Banking and Markets Profit: $1.4 Billion Canadian
- 86,000 employees serve over 20 million customers
- Bank of Nova Scotia (BNS) is Canada’s most international bank with operations in over 40 countries, including much of the Americas
1) What is your favourite project?
I worked on the project to implement the Dodd-Frank Act at Bank of Montreal in 2012-2013. The complexity and scope of the regulatory reform and the impact it had on large financial institutions was an opportunity to participate first hand in the broad and deep impact the act at the organizational level. The scope of the project expanded beyond technology and operations to the front office staff, middle office groups, compliance, legal and trade floor supervision areas of project management that I was interested in pursuing.
The project gave me an understanding of how the legislation impacted the bank. In that case, I worked closely on the effort to update and improve the reconciliation process to achieve compliance with the regulations.
2) How did you get started in project management?
I became attracted to project management because there were excellent opportunities to do interesting work in a constantly changing environment.
One day, the light just came on – I enjoy the world of capital markets. Earlier in my career, I was the business lead on a large project. During that time, I learned the importance of project skills to supervise staff and stay organized.