My first project with this consulting firm threw me into the midst of regulatory changes occurring within the finance sector. With no financial background, I had to learn about a complex industry very quickly. The reforms that are about to take place were directly affecting the project I was working on, so with the help of colleagues Guy and Joe, I spent most of my first few weeks absorbing as much information about the industry as I could.
Quite a few of the issues encountered were in relation to industry experts still attempting to understand the regulatory changes themselves, and how those changes would directly affect certain aspects of the sector and divert certain plans already in place.
In addition to this, Wilmington was a unique project in that it was working towards a global event date that meant we had to approach the project differently, and that time management was of key importance for the duration of the project. Attempting to stick to this timeline was a struggle as the nature of the project would change from week to week as we delved further into the issues of the regulatory changes.
Looking at this project from an academic perspective, I found a lot of similarities between the time dimension and the influence on international business decision making, as suggested in As-Saber’s 2001 Geopolitical Paradigm of International Business. The way that businesses had to adapt really highlighted that the financial industry was really focusing in on what could be considered a new time dimension, a post Global Financial Crisis period where technology was at the forefront of regulatory changes.