If you’re in the finance industry, there’s a good chance that you’ve heard of SCRUM. It’s a popular framework for managing projects, and it can be very effective when used correctly.

But Scrum is not easy to learn, and it takes time to get the hang of it. If you’re not familiar with the basics of Scrum, or if you’re struggling to implement it successfully in your own organization, then hiring a scrum master may be the answer.

But how do you find the right person for the job? And once you’ve found them, what should you expect from them? This post will help answer those questions. Keep reading to learn more!

What is SCRUM?

At its core, Scrum is based on the idea of ‘sprints,’ which are time-limited periods (usually two weeks) during which the team works hard to accomplish a specific goal. It also places great emphasis on self-organizing teams. That is, the team members themselves are responsible for deciding how best to perform their work.

This can be a bit of a shock for those who are used to more traditional management structures, where the manager tells the team what to do. But in fast-paced industries like banking, Scrum can be a godsend. It allows teams to move quickly and adapt to change easily.

The principles of Scrum are:

  • Empiricism: This means that decisions are based on experience and observation rather than on assumptions.
  • Transparency: All aspects of the work should be open to inspection by anyone on the team at any time.
  • Value-based Prioritization: The team should always work on the most critical tasks first.
  • Iterative and Incremental Development: Work is delivered in small, incremental batches rather than all at once.
  • Adaptation: The team should be prepared to change their approach if it is not working.
  • Self-organization: The team members are responsible for deciding how best to accomplish their work.

These principles may sound simple, but they can be challenging to implement in practice. Also, remember that Scrum was initially developed for software development projects, so it may need to be adapted to fit the needs of your specific industry.

Scrum Master Services

What Does a Scrum Master Do?

A scrum master is responsible for ensuring that the team adheres to the principles of Scrum. They also act as facilitators, helping the team communicate and collaborate effectively.

Scrum masters are responsible for ensuring that the team’s sprints are successful. They are responsible for helping the team define their sprint goals and ensuring those are met.

While your consultant might not know as much about your specific industry as you do, they should have a good understanding of broader business principles like:

  • Psychology
  • Agile methodology
  • Project management
  • Organizational development
  • Soft-skills
  • Change management
  • Technological adaptability (RPA, Legacy systems, etc.)

👉 Learn more about RPA in banking here!

The Qualities of a Good Scrum Master

So, which qualities should you look for in your scrum master?

First and foremost, the scrum consultant should have a deep understanding of the principles of Scrum. They should also be able to explain these principles to others in a clear and concise way. There are certifications available that can help you to identify qualified candidates. A good teacher will undoubtedly have experience leading successful sprints. They should be able to provide examples of times when they’ve helped the team achieve their goals.

The Scrum master should also have a deep understanding of the product development process. They should be able to work closely with the product owner to ensure that the team is always working on the most important tasks.

From setting up workshops, to helping team members get to know each other, to bringing out the best in each individual, the scrum master plays a vital role in ensuring the success of the team.

Finally, a good scrum master will be a good listener and an effective communicator. They should be able to understand the team’s needs and help them find solutions that work for everyone. Their personality should reflect that of the team – they should be open, flexible, and willing to adapt to change.

How to Find a Scrum Master

If you’re looking for a scrum master in the banking industry, look no further than CPQi. We are a digital transformation, managed services, and staff augmentation company with a team of experienced scrum masters who can help you achieve your goals.

We’ll work with you to understand your specific needs and develop a plan that is tailored to your unique situation. We’re also experienced in working with agile teams, so we can help you to transition to this new way of working.

Contact us today to learn more about how we can help you.

Book a Consultation Today