Core Banking System Implementation Consultation – Flexcube

1. Introduction

NBS Bank Plc would like to request for proposals for a competent consultant or consultancy firm with relevant experience in implementing banking solutions to support the Bank in the implementation of the new core banking system Oracle Flexcube.

2. Objectives

The overall objective of this assignment is:

• To work with the ICT and other banking departments, the Project Steering Committee, Project Managers, and Management of NBS Bank to ensure the successful implementation of the identified core banking solution.
• To assist, support, and advise the project team and management on best practices in implementing such a project to ensure the successful delivery of the new core banking system.

3. Tasks

The tasks outlined will be as follows:

 

1. Assist and support the project manager to ensure success in project management and delivery.

• Work with the Project Manager to identify potential risks and develop mitigation strategies.
• Monitor project progress and provide regular updates to the Project Manager and management of NBS Bank.
• Ensure that project objectives are met on time and within budget.

 

2. Work with the selected vendor and implementation committee to develop an implementation plan for installing, testing, and rolling out the new Core Banking Solution and other functions (Back office and delivery channels).

 

• Coordinate with the Project Managers and implementation committee to develop a detailed implementation plan.
• Ensure that the plan includes adequate testing, user acceptance testing, and data migration processes.
• Collaborate with the implementation committee to identify potential implementation issues and develop mitigation strategies.

 

3. Develop a transition plan from the current working environment to the new environment with due consideration for NBS Bank resources.

• Work with the ICT and other banking departments to identify resources required for the transition.
• Ensure that the transition plan includes a communication plan for stakeholders.
• Develop contingency plans for any unforeseen issues that may arise during the transition.

 

4. According to the new system’s requirements, ensure that the data in the old MIS systems can be transferred to the new BI system.

• Work with the implementation team to ensure that data migration is properly planned and executed.
• Develop a plan to verify the accuracy and completeness of data transferred from the old system to the new system.

5. Review the vendor’s training plan to ensure that staff receive the appropriate training and guide where need be.

• Evaluate the CBS training plan to ensure that it meets the requirements of the project.
• Provide feedback to the vendor on any gaps or deficiencies in the training plan if necessary.

 

6. Provide appropriate templates for both the business and technical teams to define their end-user test scripts and support the end-user certification of the core banking system.
   • Work with the project team to develop templates for the business and technical teams to define their test scripts.
   • Ensure that the test scripts cover all requirements and scenarios.
   • Develop a process for end-user certification of the core banking system
7. To Assess vendor’s user manual for completeness and understandability
8. Support the ICT and other banking departments on proper rollout of the system to all branches.
9. Evaluate the project and conduct system audits to determine full compliance of the new MIS with laws and regulations.
10. Any other assignment: The consultant may be assigned additional tasks from the Management of NBS Bank when necessary, in order to fill gaps, quickly respond to vendor requirements and meet deadlines.
11. Guide NBS Bank on project risk identification and management

• Work with the project team to identify potential risks.
• Develop a risk management plan that includes mitigation strategies.
• Ensure that the risk management plan is regularly reviewed and updated as necessary.

 

4. Required Skills

• Relevant experience in Banking/Core Banking area.
• FLEXCUBE product knowledge and project management experience
• Strong Domain knowledge in Banking
• Mix of Technical and Functional skills in Core Banking
• Experience with full lifecycle implementation of FLEXCUBE covering areas like Requirement Gathering, Business Process Definition (Parameterization), Testing, Data Migration, Development / Customization, Support – UAT, SIT, Production… etc.
• Experience in handling external vendors and third-party providers
• Experience in change control and should be able to coordinate with multiple business units of the Bank in order to execute a successful implementation.
• Proactively manage changes in project scope, identify potential crises, and devise contingency plans.
• Excellent communication and interpersonal skills