IBOR transition and risk platform uplift for non-linear rates trading

In detail

Bank of America · August 2022 to present · Programme Manager, Global Non-Linear Rates Trading, Risk and PnL

Leading the regulatory and platform programmes for the front-office non-linear rates technology team, from the LIBOR cessation deadline to same-day risk attestation.

Scale: 3 lines of business: rates, secured trade financing and FX

The challenge

The IBOR transition meant finding every reference to an IBOR across the organisation, assessing the impact and migrating all OTC trades before LIBOR ceased in Q1 2023. In parallel the desks needed stronger risk reporting, an auditable same-day risk-attestation process, and platforms lifted off ageing technology stacks.

What I did

• Led the IBOR transition programme across rates, secured trade financing and FX, migrating all OTC trades ahead of the Q1 2023 cessation deadline.

• Drove the global rollout of same-day risk attestation for the non-linear rates desks, with legal-entity exposure visibility and compliance-aligned approver workflows on the strategic risk platform.

• Directed technology uplift programmes, including retiring legacy risk tooling and migrating platforms to a current, supported Python stack across the global application inventory.

• Strengthened risk reporting by resolving systemic gaps in decomposed credit-spread and sovereign-spread data, restoring dropped sensitivities and issuer-level transparency.

• Ran SAFe programme-increment planning for the desks and led risk and control self-assessment actions, including spreadsheet retirement and platform stabilisation, with standardised agile tracking and business-value-focused stakeholder reporting.

Outcome

• All OTC trades migrated to meet the LIBOR cessation deadline in Q1 2023, reducing overall risk exposure.

• Same-day risk attestation adopted across the desks; operational risk reduced through control remediation and spreadsheet retirement.

• Clearer visibility of progress and earlier detection of issues through the standardised tracking and reporting framework.

Skills: Regulatory programme delivery · IBOR and LIBOR transition · Risk and PnL platforms · SAFe · Operational risk and controls