Enhancing PMO functions and consider/introduce efficient project promotion system
It is necessary to analyze the ISO 20022 related services in each country, the schedules of those services, the number of customers using them, etc., as well as to consider developing a system that can track the situation accurately. Then, it will be communicated to top management and stakeholders at an appropriate granular level.
PMO at the bank's head office plays a high-level role in coordinating requirements and issues in each country, while the local PMO provides support for the migration which includes identifying requirements for systems specific to each branch and coordinating the migration schedule with the head office to further ensure the success of the project.
Furthermore, we believe that setting a local PMO in each country instead of a centralized PMO in a single location will allow for early detection of issues in each country and seeing the entire world from a higher perspective. At the same time, separating the information collection functions of a local branch moving to ISO 20022 will enable the creation of an environment where they can concentrate on collecting information that does not miss anything.
Figure 8 shows an illustration of how the reginal PMO will take the lead in managing the progress of the European migration. It is important to design materials that convey information to the head office and top management in a straightforward manner based on progress in each country. However, we need to customize our services for the requirements of each bank because the services and indicators vary from bank to bank.