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IT Advisory Services for the Financial Services industryDriving business success through IT
Contents
3 IT Advisory
7 Industry challenges
11 How Grant Thornton can help
23 Appendices
– About Grant Thornton
– Financial Services Group
– Methodologies, tools, enablers and accelerators
– Credentials
– Notes
– Contact us
3 FINANCIAL SERVICES IT ADVISORY
IT Advisory
Why Grant Thornton?
• We are truly content rich, for example we provide deep domain risk and regulatory advisory services to financial institutions, national regulators and governments
• We have the full range of end-to-end change capabilities across the Policy, Governance, People, Process and Systems dimensions
• Throughout the software development lifecycle (SDLC) we deploy only experienced client delivery consultants, in the most cost effective manner
• We have a range of proven methodologies, tools, enablers and accelerators that genuinely differentiate our services
• We have the ability to ‘build’ bespoke analytic, reporting and workflow tools, in addition to broader IT consulting capabilities
FINANCIAL SERVICES IT ADVISORY 4
IT Advisory
Grant Thornton IT Advisory works with our policy, governance, people and process change capabilities to deliver a full lifecycle service.
Financial Services IT AdvisoryGrant Thornton has built a global technology advisory practice dedicated to the financial services industry. We help clients manage increasing complexity, using a sector-focused approach and global delivery capabilities to address clients’ needs to manage risk and regulatory compliance, optimise costs and facilitate business steering by building capability to enhance decision making and control.
Our technology advisory teams have deep experience in managing many of the industry’s most challenging IT programs and have supported clients with their comprehensive program implementation needs by providing the services required to help drive success while maintaining full objectivity towards industry solutions and delivery partners.
Technology is central to the ability of a financial services company to serve its customers, earn revenue, manage risk, conduct operations and drive bottom-line results. At the heart of Grant Thornton’s technology advisory strategy is its highly experienced team, quality actionable work products and objectivity. Our teams deliver the appropriate solutions (vendor agnostic) based on the specific needs of our clients’ business requirements. We help our clients bridge the gap between business issues and technology solutions to address specific challenges.
Global capability, personal approachWe draw upon our global network to assemble integrated teams with proven industry experience, functional knowledge and technical proficiency.
We connect business and technology to address complex issues.
Examples include:• IT strategy and operations
• Front-to-back operations enablement across FS sectors (Capital Markets, Banking, Insurance and Asset and Wealth Management)
• Target state architectures (business, application, data, and infrastructure)
• Regulatory and accounting change implementation
• Regulatory and management reporting
• Financial risk management and regulatory compliance
• Enterprise information management
• Business Intelligence
• Data protection and security
• Our independence and record of objectivity will empower you to make well-informed decisions based on your distinct challenges and priorities.
5 FINANCIAL SERVICES IT ADVISORY
Mobilise
Analyse and evaluate
Design and transform
Execute and control
IT Advisory
Grant Thornton brings customized cross-functional teams, with a deep understanding of business drivers, regulatory reform and IT enablers, to work with our clients to address their needs.
Our IT Advisory Capability ModelOur clients choose Grant Thornton for complex transformation programmes. Our engagement model is to deliver well defined advisory projects, implementing a teaming strategy for ‘extended enterprise’ alongside incumbent system integrators and client development staff.
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CIO Advisory
IT Risk & Assurance
How best to use Grant Thornton’s IT Advisory servicesGrant Thornton has developed a robust IT delivery methodology to provide our clients with the independent support needed to prepare, manage and optimize the delivery of IT programs.
Mobilise Analyse and evaluate
Design andtransform
Execute and control
• Program and project management• Program mobilisation• Stakeholder management
• Communication strategy• Budget management• PMO
• Risks, issues and dependencies management• Benefitstrackingandrealization
• Business strategy
• Industry study/ benchmarking
• Operating model design
• Business case
• Project Initiation
• Quality planning
• Enterprise architecture
• Conceptual/ reference architecture
• Maturity model & capabilities assessment
• Design Authority implementation
• Target architecture (phased interim states)
• Build or buy decisions
• Vendor & package selection
• Teststrategydefinition
• Businessprocessdefinition&mapping
• Data Analytics
• Business requirements
• Functional requirements
• Technical requirements
• Packageconfigurationandtesting
• Bespoke analytic, reporting and workflowimplementation
• Data governance, management
• Business Intelligence
• Migration planning and execution
• Test plan development
• Test case development
• Management of test execution and reporting
• Reconciliation
• Documentation and training
• IT/Cyber security
• IT risk management
• Post-implementation support
• IT assurance
FINANCIAL SERVICES IT ADVISORY 6
To address the common challenges of regulatory compliance, cost optimisation and business steering, multi-disciplinary capabilities need to be brought to bear. Our integrated IT delivery methodology provides for this across the policy, governance, people and process change capabilities.
Our IT delivery methodology is driven by fundamental analysis of the operating modelAn operating model is used to break down an organisation’s complex system of process, organisation and technology into logical components.
Vision and
strategy
A picture of the future that is relatively easy to communicate and appeals to customers, investors and employees. It helps clarify the direction in which an organisation needs to move.
Guiding principlesThe guiding principles set out how theBusinessModelwillbedefined,
operated and implemented
Business service modelTheBusinessServiceModeldefinestheBusinessPartners(‘customers’) and stakeholders of the business area and the
services they require
Process levels
1 and 2The Functions are mapped out at a
detailed process level, with controls embedded
into processes and enshrined in procedure
documentation
Technical architecture
The Technology architecture and data models are aligned to the service delivery needs, the required STP levels and the interactions with various
partners
Governance and organisational
modelsRoles and responsibilities aredefinedwithinaclear
organisational structure, which is overlaid with the Governance
Model for wider decision-making
Location modelLocations of
the functions are determined within the context of the
sourcing decisions for the business
Change management, IT delivery and continuous improvement
A major focus will be identifying the interaction model between Business and IT.
Business-led: for innovation
Business and IT engage directly
IT-centralised: for efficiency
IT funnels demand through one person or body
Demand-supply: for responsiveness
Demand organisations manage IT supply for Business
How it works• BUs solicit IT groups directly to
deliver projects
Benefits• ‘No middleman’ can mean faster
deliveryandmoreflexibility
Issues• Redundant systems may be built to
support each business• The BU that ‘screams the loudest’
may get priority• Poor supplier management can
take projects over budget and off schedule
How it works• The CIO or a governance board
reviews all requests
Benefits• ITspendisscrutinisedandefficient• IT supply can be focused on delivery• BUs have a single point of contact
Issues• Central body can be a ‘middle layer’
bottleneck• BUsmaylackinfluenceinfunding
decisions
How it works• BU-aligned IT demand prioritises
projects, drafts requirements, and oversees delivery
Benefits• BUs have an advocate within IT• Demand organisations can prioritise
projects effectively• Supply organisations can focus on
efficiency
Issues• Demand can be an ‘order taker’
rather than thought partner• Supply can treat demand as a
‘middle layer’
Functional modelThe Functional Model outlines the
functions that will be required to deliver the services
Interaction modelThe Interaction Model depicts the
inter-relationships, dependencies and linkages
7 FINANCIAL SERVICES IT ADVISORY
Industry challenges
The current pressures
FINANCIAL SERVICES IT ADVISORY 8
Business steering• Once effectively compliant,
add business value by enabling enhanced management information for decision making and improved control, as well as facilitating the provision of new products and services
Cost optimisation• Operate in a continual
state of change across the policy, governance, people, process and systems dimensions, to be compliant in a cost effective manner
Mandatory regulatory change• Deliver regulatory
compliance with the numerous and often conflictingand/oroverlapping national, regional and global regulatory pressures
Industry challenges
Financial institutions ability to meet regulatory requirements in a cost effective manner whilst enabling the business, has never been more challenging.
9 FINANCIAL SERVICES IT ADVISORY
Industry challenges
• Regulatory change is preventing 88% of organisations from addressing their business priorities
• 3/5 projects are regulatory change initiatives
• The average return on equity for the world’s 13 largest investment banks may fall to 6-9% by 2017
• More than half of organisations have regular duplication of activity across departments
• Banks’ IT costs: 7.3% of revenues. Average of other industries: 3.7%
• Total cost of misconduct for 10 major banks: $100 billion
• Estimated industry savings from the adoption of mutualisation solution: $1.5-3 billion
• Estimated cost of conduct breaches over the last 5 years: $30-40 billion
Why are they hard to addressThese challenges are not easy to address:
• Regulations are applied at varying levels i.e. national, regional and global levels
• Regulations often overlap and/or conflict in scope, geography, business line and timeliness
• Manual process and legacy infrastructure are both costly and non-scalable in both volume of existing products and in adopting new products, in a controlled manner.
Capital Markets challenges
Banking challenges
• $15-20 billion, prospective annual saving for European banks leveraging online services
• Over 75% of personal current account market held by UK’s 4 largest banks
• Banks closed 2,267 branches in 2013, and opened only 1,149
• Branches represent 40-60% of retail banks’ operating costs
• 6.6 million complaints over PPI since July, 1 2009
• 10-30% of customers contribute 90% of profits
• 7-13 points ROE reduction due to increasing regulatory demands
• Shortfall of funding of between £84-191 billion from 2012 - 2016
• Banks sold 45 out of 53 million PPI policies
FINANCIAL SERVICES IT ADVISORY 10
• The price of Solvency II implementation is estimated at £3 billion for UK insurers alone
• The UK general insurance sector is now paying well over £730 million every year on the direct costs of regulation and compliance
• Insurers said that the direct cost of regulation to them has now hit an average of 1% of gross written premiums
• Approximately 50% of surveyed insurers indicate theirsystemsalreadyarebetweenfiveand10years old
• 48% of surveyed insurers indicated they’ll be lookingatanoutsourcedcomponentfiveyearsfrom now
• 64% reporting that their current operational infrastructure systems are successfully meeting regulatory requirements. However, when asked about the ability of their current systems to meet future regulatory requirements, more than 70% of respondents reported they are either concerned or unsure about whether to be concerned
Technologies ImportanceGrant Thornton professionals help execute enterprise-wide business transformation initiatives by identifying risk management and business performance improvement opportunities. We provide the regulatory insight, business intelligence, planning and analysis to help enable our clients to make practical, informed decisions about business direction and the technology needed to enhance processes.
In particular, technology plays a critical role in financial institutions ability to meet regulatory requirements in a cost effective manner and enable the business to make decisions as well as facilitate the ability to provide products and services in a controlled manner. This journey from regulatory compliance, to being compliant in a cost effective manner, to enabling the provision of management information and facilitating products and services; all within the current environment of numerous and often seemingly conflicting national, region and global regulatory pressure; is each institutions acute challenge.
Insurance challenges
Asset and Wealth management challenges
Assets Managed in the UK by client type:
• Retail Clients 17.4%
• Private Clients 1.6%
• Institutional Clients 81%
• £5.2 trillion: Total Asset Management in the UK 2013
• Overseas clients account for 40% of total UK assets under management
• £500 million is the estimated cost of regulatory compliance for the investment industry
• Emerging markets now possess an 8% of global AuM
• 9% of the UK Asset Managers outsource some part of their business activity.
11 FINANCIAL SERVICES IT ADVISORY
How Grant Thornton can help
FINANCIAL SERVICES IT ADVISORY 12
CIO Advisory
Grant Thornton can help you assess and improve how technology enables the business in an effective and efficient manner.
Your objectives• Simplify the IT environment to support a growth agenda• Improvebusinessvaluedeliverywithgloballystandardized,integratedITservices• Package and measure IT services in business terms• Driveefficienciesthrougharenewedfocusonoperationaldiscipline• Provide greater visibility into critical business systems and infrastructure • Translate complex business problems into implementable technology solutions
How we can helpIT process transformation• Enhance the value of the IT portfolio
throughout a transformation or transaction. Services include assessing the current environment, defining the target operating model and executing the transformation or integration program
IT strategy• Establish a business-driven vision and strategy
for IT systems, processes and infrastructure. Services include IT strategy and roadmap development and application portfolio planning and management
IT sourcing• Implement an IT sourcing model by which an
organization procures IT goods and services in accordance with its strategic objectives, while simultaneously aligning its retained IT organization to extract value out of the new sourcing model
Enterprise architecture • As technology becomes increasingly critical in
delivering competitive advantage in Financial Services, developing the right solution and end-to-end architecture becomes increasingly important. We provide our clients with relevant industry expertise, prior hands-on experience of the key packages, and the necessary insight, judgement and objectivity so that we provide the best advice
Infrastructure and operations• Help you manage and operate IT effectively
and efficiently to get the most from technology investments. Services include IT process maturity assessments, control-driven process improvement, data-center consolidation planning, business continuity planning and advisory services on project management life cycle (PMLC), software development life cycle (SDLC) and IT controls
13 FINANCIAL SERVICES IT ADVISORY
Finance systems
Grant Thornton can help you support internal decision-making and your responses to a changing regulatory environment with integrated, transparent and flexible financial systems.
How we can helpPerformance Management• We help our clients define their strategic goals
and then measure and manage performance against those goals. Our Performance management services include detailed analytical modelling activities that focus on operational performance, sophisticated cost, and profit planning analysis
Integrating risk and finance• Whether at the point of data sourcing, storage
or reporting we can help clients develop an integrated view of their finance and risk data. We have the data models and process frameworks that show the points of integration across the architecture
Management information and decision support• Information is considered to be an important
asset for any Financial Services institution in the modern world. Data quality and the
ability to compile information from a wide range of sources to solve problems and make decisions can both differentiate in the market place and improve global competiveness. Our experience and vendor independent approach to MI and data management helps our clients implement ‘best fit’ solutions. Our Regulatory Architecture solution helps clients address the ‘regulatory spaghetti’ and data related regulations such as BCBS239, FinRep, CoRep, FDSF & CCAR directly
Finance systems efficiency and effectiveness• We can help drive improvements to your core
finance and reporting capabilities. We work regularly with Tier 1 organisations to develop strategies for ledger consolidation, complex reconciliations and reducing reporting/close time frames
Your objectives• Understand the drivers for change and how to effect solutions that address these, including regulatory changes,
organizationalchanges,andcostchallenge• Scope,DesignandImplementaflexible,scalableandsustainablesolutionforthefinancefunction,includingERP
(ledger and sub-ledger), consolidation and Statutory and Management Reporting capability• FacilitateintegrationwithRisk&Treasury,increaseoverallefficiency,generatecostsavingsoverthelongtermand
improve data quality by implementing process and software solutions
FINANCIAL SERVICES IT ADVISORY 14
Risk systems
Grant Thornton can help you measure, monitor and manage financial risks that apply to your organization. We can also help you respond to new risks and regulatory developments as they emerge.
How we can helpOperational Risk/Conduct Risk• From remediation to the design of major
change, we deliver conduct risk health checks, governance and control reviews, new product assessments, optimising complaints and disputes management, horizon scanning, capital assessments and management information dashboards
Credit Risk• Improving how credit risk is identified,
measured, managed and reported. We design and implement robust technology solutions to complex credit risk and capital issues, including enterprise credit, economic capital management and regulatory mandates, such as Basel II/Basel III requirements, Dodd–Frank, CVA, Counterparty Credit Risk, and Credit Decisioning
Liquidity Risk• Improving liquidity measurement and
management by establishing a strategic, stable and scalable liquidity risk and asset-
liability management architecture. We deliver frameworks that support changing regulatory requirements (such as LCR and NSFR), better coordination with treasury and capital planning, and increased demands for more granular & accurate management reporting
Systemic Risk/Prudential Supervision• Enhancing the stress testing framework and
facilitating the development of risk appetite framework through transparent linkage to enabling architecture. We help you to achieve an enterprise view of risk through rationalization and consolidation of distinct risk platforms and development of appropriate data taxonomies and related governance and quality regimes
Market Risk• Delivering solutions to support the front office
and trading activities in the calculation and reporting of value-at-risk and other market risk measures, including data architectures to support the ever-increasing desire for faster, ‘closer to execution’ risk management
Your objectives• Realign capabilities to support rapidly changing regulatory requirements• Maintain high levels of service in an environment with shifting priorities and escalating costs of compliance• Achievegreatertransparencyandconsistencythroughrationalizationandconsolidationofdistinctriskandfinance
platforms• Streamline fragmented risk management systems and data to develop an enterprise view of risk
15 FINANCIAL SERVICES IT ADVISORY
Compliance systems
Grant Thornton can help you prevent financial and reputational loss and improve operational and regulatory compliance.
How we can helpAnti-Money Laundering (AML)• Provide globally consistent, regulator reviewed
methodologies to manage and enhance AML programs. End to end review of KYC, transaction monitoring, case management, OFAC and sanctions screening, AML data analytics, and MI reporting. Aim to improve operational maturity and establish positive and negative feedback loops to continually improve quality and align monitoring to perceived AML risk
Know Your Customer (KYC)• Identification of cost reduction opportunities
in the end to end KYC process through establishment of shared services centres of excellence, analysis of client on-boarding, document collection, screening, due diligence, enhanced due diligence, and customer risk scoring processes. Data analytics to identify minimum KYC data requirement gaps and quality issues. Tools to support remediation and workflow based activities
OFAC & Sanctions Screening • Delivering sanctions based solutions to
assess and improve customer and transaction based screening platforms. Focus on global
consistency in implementation with assessment tools to identify gaps in screening capability from a rule and watch list perspective
Trade surveillance• Achieve greater transparency with a trade
compliance and fraud program that includes market abuse, sales practices, fraud, control room and employee trading. Framework based approach focused on governance of trade surveillance programs, process review to identify gaps in the risk control framework
Regulatory and trade reporting• Improve the accuracy and efficiency of
regulatory and trade reporting through better integrated information sources and automated report production and filing solutions
Fraud prevention and monitoring• Improve the effectiveness and efficiency of
both internal and external fraud monitoring and prevention through the better use of investigative data and intelligence, automated surveillance engines, and innovative solutions using tools such as network science, link analysis and data profiling
Your objectives• Protecttheorganization’sbrandandreputationbyavoidingdisciplinaryactionsandfines• Reduce overall cost of compliance through streamlining automation of costly compliance processes• Implement a globally sustainable framework for managing compliance with global corporate policies, regulatory
requirements and industry best practices• Eliminate redundancies in activities performed to manage risk and comply with multiple regulations and standards• Proactivelypreventlossthroughappropriatelyleveragingtechnologytofacilitatefinancialcrimeandfraudsurveillance• Improvetheefficiencyandeffectivenessofalertgeneratingplatformstomaintaincoverageandreducehighincidence
of false positive review
Banking systems
Grant Thornton help out retail and corporate banking clients to improve and integrate technology platforms and operating processes, reduce costs and enhance customer experience.
How we can helpDigital channels• Customers want to see their Bank embrace new
technologies and provide online and mobile channels that deliver a rich set of products and services. We have experience delivering some of the market’s largest retail and corporate banking digital channel transformation programmes; integrating channels to provide a rich customer experience, designing the solutions, developing ‘the digital agenda’ roadmap and implementing market leading digital banking offerings with our clients
Core banking• As banks deliver against a broad transformation
agenda driven by the need to put the customer at the centre of their operations and by increasing regulatory scrutiny, the easy cost reduction and tactical incremental initiatives are often done first leaving core banking in the ‘too difficult’ category. Our team has broad, deep experience delivering core banking transformation across geographies to remove inflexible, costly legacy systems and increase the business’s ability to rapidly respond to market changes. We have multi-platform knowledge, close vendor relationships, reference architectures and requirements sets to bring our
teams collective experience to bear. We work with our clients selecting platforms, designing solutions and supporting the full delivery lifecycle of the most business critical of banking technology change programmes
Payments & Cards• Electronic payment volumes are growing
significantly and the scalability and flexibility of legacy solutions struggle to cope. Payment processors and banks increasingly need to reconsider how they run their payments operations to drive more efficiency, address regulatory requirements, support new revenue streams and meet increasing customer expectations for alternative payment methods, reduced costs and more flexible products. These combined pressures require complex IT and operations change programmes. Our team has extensive, recent experience supporting such programmes for leading banks in the UK and further afield to deliver modern payments systems that improve STP, integrate across legacy and modern digital channels and serve retail, corporate and investment banking businesses
Your objectives• Differentiating customer experience through implementation of enhanced online and mobile digital channels to
provide a rich, integrated set of products and timely accurate information• Adding innovation to core banking solutions while delivering a traditional package implementation• Improvingtheefficiencyofpaymentsprocessestolowercostswhilstimprovingtheagilityofsystemstorapidly
adapt to dynamic customer needs and respond to increasing regulatory scrutiny• Meeting regulatory scrutiny and improving decision making with more insight through increased data transparency
across banking systems from ‘front to back’
FINANCIAL SERVICES IT ADVISORY 16
17 FINANCIAL SERVICES IT ADVISORY
Capital Markets systems
Grant Thornton provide practical services with experience in cash, OTC and exchange-traded derivatives products, regulation, operations, technology, risk management and compliance.
How we can helpTrading operations• We assist with complex trading and operational
transformation programmes. Examples include developing a cross-asset class architecture to streamline usage of trade and cash information and re-engineering and migration planning for a legacy trade, risk and finance data as part of post merger integration
Collateral management• Collateral management is an integral part of
effective risk management and our services cover operational and process improvement, valuation model review, capital optimisation, portfolio reconciliation and reporting
OTC derivatives reform• We provide practical OTC derivatives advisory
services to our clients based on a global, cross-functional team of dedicated professionals with experience in OTC and exchange-traded
derivatives products, regulation, operations, technology, risk management and compliance. Our team has developed proven approaches to help both sell-side and buy-side clients identify and address the key issues raised by the changing OTC derivatives markets
Commodities• We design and implement target operating
models and application architectures for Commodities business which support achievement of the organisation’s strategic business objectives. To accelerate this process, we have developed a leading practice maturity model specific to commodities, covering the entire trade lifecycle and nuances of each product type
Your objectives• Refocusoncustomergrowthandprofitability• Evaluate new business structures through merger and acquisition and organic growth • Maintain or improve market position versus peer group• Efficientlyandseamlesslyscaletradingvolumesupordown• Recognise that customer service is a key differentiator in winning new business• Respond to and comply with mandatory, regulatory initiatives such as Dodd-Frank• Improve the performance, accuracy and relevance of reporting and operational processes• Realign capabilities to support rapidly changing business requirements
FINANCIAL SERVICES IT ADVISORY 18
Insurance systems
Grant Thornton can help you deliver end-to-end technology to assist with developing effective architectures, strategies and requirements to select, implement and test operating models, processes and systems.
How we can helpClaims management• Firms are challenged to improve delivery
certainty and manage claims costs. We assist with a wide range of claims management solutions and so we bring valuable insights across technology, business practices and programme delivery that support successful implementations
Underwriting (UW) management• Helping you to achieve excellence across
your data, MI and reporting capabilities, thus enabling timely UW pricing accuracy and decision support, governance and control. and auditable UW and pricing processes
Policy administration• Improve insurance contract processing,
recording, control and costs by supporting you in the adoption and implementation of systems and solutions such as workflow. These drive standardization and controls whilst reducing cycle times and costs
Distribution• Improve customer analytics, channel
integration and remote processing in support of your multi-distribution/access strategies, through helping you make better use of current technologies and in modifying your architectures to drive lower-cost sales
Platforms• Platform optimization and vendor selection
including information architecture optimisation, in support of agile product re-design, controlled investment management and profitable operations
Regulatory reporting and compliance (Solvency II, IFRS, PRIPS, RDR and FATCA)• We can help you achieve cost effective
regulatory compliance by improving the clarity of regulatory vision, interpretation of flexing requirements and the validation and delivery of your solution design and architecture
Your objectives• Understand and control the impacts of regulation, eg SII, IFRS, FATCA and RDR/PRIPS• Reducethecostofclaims,byimprovingclaimsefficiency• Refocusoncustomergrowth,productdesignandprofitability• Evaluate new business structures through M&A or organic growth • Improve the performance, accuracy and relevance of reporting and operational processes• Realign capabilities to support rapidly changing business requirements• Adapt to the rapidly changing distribution landscape - eg New entrants and aggregators• Improve operations to manage risk and regulatory reporting and control associated investments
19 FINANCIAL SERVICES IT ADVISORY
Asset and Wealth Management systems
Grant Thornton can help you improve and integrate operating processes and controls, enhance productivity and reduce operating costs. Our services span the investment management value chain.
How we can helpFront office• Our front office operating model experience
helps clients reduce risks of trading and compliance errors; improve efficiency of research management, decision support and trading functions; trading in new asset classes or strategies; and implement new decision support and trade order management systems
Accounting and operations• Accounting and operations are often at the
core of an investment manager’s technology and data architecture. The vendor systems that support these functions are complex and can be hard to differentiate. We can help clients select the systems that are most appropriate to their business and design the operating models and architectures that support their implementation
Performance and risk• Seen as one of the key functions within an
investment firm, performance and risk measure the rates of return achieved, estimates of the risk taken and analysis of the skill of fund managers. It is also one of the most data intensive and sensitive areas within an asset manager. We can help clients select the most appropriate systems for their organisation, advising on the business processes needed to support the function and managing challenging implementations
Data management• We help clients develop and implement data
governance strategies that engage the right stakeholders and align business and IT. We have experience across the value chain of specific data management challenges including: market data sourcing and vendor management; fund and product master; security and price master management; index and benchmark management; front to back integration; data warehousing; data warehousing and Solvency II
Your objectives• Refocusoncustomergrowthandprofitability• Evaluate new business structures through merger and acquisition and organic growth • Improve the performance, accuracy and relevance of reporting and operational processes• Realign capabilities to support rapidly changing industry requirements and opportunities • Protectyourbusinessfromfraudulentactivityandotherbreachesthatcausereputationalandfinancialdamage• Timely and continual delivery of change that supports business strategy• Reduce the adverse impact of regulatory change and costs to business growth• Establish operational excellence for data and management information
FINANCIAL SERVICES IT ADVISORY 20
Business Intelligence and Data Analytics
Grant Thornton can help you manage the collection, storage, use and quality of information and enable information intelligence to meet business needs.
How we can helpInformation Delivery• Delivering the right information to the right
people at the right time. With extensive knowledge of the Financial Services sector coupled with deep technical knowledge and expertise in Business Intelligence (BI) we are uniquely placed to advise our clients on the practical application of BI technologies and approaches
Data warehousing (DW)• Our data warehousing capability helps Financial
Services firms to better understand their business, and better explain it to regulators, because we understand how to capture, structure and store data from complex, disparate systems. Our DW practitioners, without ties to specific product vendors, can architect and help to deliver solutions specific to needs, but founded in experience
Application Rationalisation • Delivery of high value advisory services
which enable our clients to improve business performance by removing technological complexity
Data strategy, quality and governance• Enabling clients to benefit from their current
and future data assets by ensuring that the organisation, process and technology is in place to monitor, improve and manage data quality, data standards, master data and data architectures across the enterprise and throughout the data lifecycle. Enabling clients to deliver value from their investments in data intensive change programmes by containing and managing down the risk presented by data quality
Master data management• Helping clients to identify and manage the
golden sources of specific reference data elements (eg customer, org structure, product & instrument, geographies) such that changes are controlled by appropriate data stewardship, and propagated to systems and processes effectively and correctly
Your objectives• Implement an integrated enterprise-wide reporting solution to transform data into insights and deliver at the point of request• Perform complex data analytics to make intelligent decisions and solve business challenges• Achieve data automation, reconciliation, traceability, lineage and transparency• Simplify analytics environments to provide actionable, timely and accurate data to drive business insights around customer,
regulatoryrisk,compliance,operationsandfinance• Rationalizeandmaximizetheexistingdatainfrastructuretoachievegreaterreturnoninvestment
21 FINANCIAL SERVICES IT ADVISORY
Cyber and IT security
Grant Thornton can help you manage the cyber risks from the network to the board room and keep you up to date on the increasing regulatory and reputational risks of doing business in the current climate.
How we can helpCyber Target Operating Model• We can develop the target operating model for
cyber security to meet the needs of business to mitigate risks effectively by having appropriate skills, policies and security products. We recently assisted an online gaming company develop a target operating model which resulted in cost saving and resources deployed effectively to mitigate risks
Data privacy• Our Data Privacy assessments can help you
ensure regulatory and legal compliance across the locations your firm operates in. We will also help you understand how personal data is collected, stored and used in your environment. This in turn would enable us to help you develop or update an appropriate Privacy governance model to ensure you meet your legal, regulatory and business needs
Cyber technical services• We have a dedicated and experienced Penetration
Testing team who help organisations assess their IT infrastructure, networks and applications to identify angles of attack, vulnerabilities and
weaknesses in the operating controls. Penetration testing is part of the wider integrated assurance framework, and results from penetration testing are analysed in the business context for the organisation
Security transformation• Regulation on information security is increasing
both within the United Kingdom and from Europe. The Financial Conduct Authority (FCA) has highlighted concerns over the aspects of digital channels and there are both cyber security and data protection directives emerging from Europe. Our transformation services can help organisations:
Consolidate information security operations across the organisation and creating a single, scalable, governance framework. Ensure that organisations’ Information Security Management System (ISMS) meets regulatory and industry standards. Aligning information security policies, standards and procedures across the Group, identifying where refresh/re-writes are required and ensuring controls are current and appropriate. Improving management of information security by implementing a standard set of Key Performance Indicators across all business areas
Your objectives• Develop a strong cyber security framework to mitigate the key information risk• Ensure that your organisation understands and is prepared for the cyber and data privacy risks it is exposed to• Establishing processes, systems and governance approach to effectively monitor, assess and manage the cyber threats• Raise staff awareness to identify and deal with Cyber security risks• Meet regulatory and compliance requirements around Cyber security• Gain competitive advantage and business growth by keeping data secure, accurate and available
FINANCIAL SERVICES IT ADVISORY 22
IT Risk and Assurance
Grant Thornton can help you to understand the regulatory and compliance technology landscape in which you operate and help you to manage the associated risks. Services include:
How we can helpIT risk governance• We can help you understand the various
regulatory and governance demands on your IT environment. Our IT risk specialists can help you assess the often overlapping demands of stakeholders like the FCA, PRA, SEC, your audit committee, your clients and your auditors alongside good practice defined by frameworks such as CObIT, ISO, ISF and ITIL
• We can help you establish a project structure that meets your IT governance and reporting requirements in terms of policy, regulatory requirements and risk reporting
Management risk control• Our technology risk specialists can project
manage or undertake IT risk related activities as part of your team, ranging from supporting process re-engineering and controls rationalisation to IT controls testing for management reporting of SOX/JSOX
ERP risk reviews• Our SAP and Oracle E-Business Suite
specialists have real world experience of implementing systems in both the public and private sector and can provide detailed risk reviews associated with ERP application and infrastructure security, implementation project assurance and support, process improvement, data mining and fraud analysis and broader governance, risk and compliance support
Your objectives• Understand the regulatory and good practice governance expectations on your technology environments• Establish systems, processes and organisational structures to proactively identify and manage your technology risks
in a timely and cost-effective manner• Effectively manage the burden on management to provide assurance with Sarbanes Oxley, JSOX, and auditor
assurance requirements (eg ISAE 3402, SSAE 16 reports)• EnsurethatERPapplicationsareconfiguredeffectivelyandassociatedrisksofmisuseandfraudaremanaged
23 FINANCIAL SERVICES IT ADVISORY
Appendices
About Grant Thornton
Awards
Best Tax Team in a National Firm National Employer Solutions
LexisNexis Awards 2012
Best International Tax Team Large Corporate & International Tax, LexisNexis Awards 2012
Ranked most active corporate financeadviser2012
(Thomson Reuters Small Cap)
Corporate Finance Adviser of the Year ACQ Global
Awards 2012
International Accounting Bulletin Network of the Year 2013
Private Client Practitioner Top 25 Most Admired Companies
2012, 2011, 2010
UK Leading Deal Maker Acquisition International M&A
Awards 2012
Ranked number one corporate financeadviserintheUK
(Source:ExperianCorpfin2011)
Corporate Financier of the Year 2012 unquote British Private
Equity Awards
No.1 auditor of AIM companies and the leading independent
nominated adviser to AIM
Grant Thornton UK LLP• UKmemberfirmof
Grant Thornton International Limited
• Turnover of £471 million
• Led by over 200 partners, with 4,400 people
• Operates from 25 offices
Grant Thornton International Ltd• One of the world’s leading organisations of independently
assurance,taxandadvisoryfirms
• Combined turnover of $4.2 billion
• Over 35,000 people based in over 100 countries
FINANCIAL SERVICES IT ADVISORY 24
25 FINANCIAL SERVICES IT ADVISORY
Financial Services Group
FINANCIAL SERVICES IT ADVISORY 26
Financial Services Group
Grant Thornton’s multi-disciplinary Financial Services Group uses its deep knowledge of the sector to provide robust, independent and professional advice on today’s most important issues.
About usGrant Thornton’s Financial Services Group (FSG) is a market-focused financial advisory and assurance practice, concentrated on delivering unbeatable client service. Be it a major issue, a complex problem, an unforeseen crisis or just a straightforward technicality, we are there to guide you through it.
We align our core competencies to established industry challenges, ensuring the services we offer match the problems our clients face. We select our teams from a large pool of industry specialists to align subject matter expertise to the issue at hand. Furthermore, we are able to supplement our delivery capability by leveraging our professional service teams, including Regulatory Advisory, Forensic Investigations and Data Analysis, Risk Management, Business Consulting and Information Technology.
Our track record is proven and testament to our delivery capability. We have over 200 clients in the financial services sector, most of which are repeat customers, that benefit from our value-add engagements that have a lasting legacy.
Collaborative approach, quantitative outputWe bring proven methodologies and processes which have been employed successfully across the industry and, where necessary, we adapt them accordingly. We adopt a highly collaborative approach, with a focus on:
• Accountability – establishing buy-in and ownership from all parties to ensure we deliver genuine business benefits
• Quantitative outputs – our methodologies are driven by thorough analysis and formulaic assessment to deliver genuinely useable outputs
• Efficiency – we are nimble, deploying teams which allow us to react quickly to change
• Sustainability – all our deliverables offer long-term benefits and we conduct a thorough handover of all knowledge capital.
27 FINANCIAL SERVICES IT ADVISORY
Methodologies, tools, enablers and accelerators
FINANCIAL SERVICES IT ADVISORY 28
Methodologies, tools, enablers and accelerators
Grant Thornton has developed a range of proven methodologies, tools, enablers and accelerators that can be used to assist clients.
Model Bank and Model InsurerFunctional decomposition of an institution to facilitate mutually-exclusive and comprehensively exhaustive analysis and mapping
Model operating modelsTo accelerate target operating model (TOM) design, planning and cost tracking
Industry and Vendor Benchmarking DataFunctional and operational performance indicators benchmarked against competitors and/or peer groups
Transformation Programme Planning Detailed change methodology based on Prince2
Project Portfolio Management PMO tools to assess, prioritise and monitor projects across the organisation,includingfinancials,risks,issues, assumptions and dependencies
Resource, Cost and Benefits AnalysisDefiningfinancialandoperationaltargetsof transformation effort
IT
HR
Marketing
Management
Services
Finance
Support Services
Hub
Branch
Programme
Today
Financial Benefit Milestones
Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issuesMinor issues or slippage, will not impact overall
Operational Milestones
Major slippage or dilutionMinor slippage or dilution
Cost incurred
DependenciesOn schedule / on target, no issuesMinor issues or slippage, will not impact overall Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issues
Assess call volumes and agree Headcount
Agree Customer Service strategy
Telephony implemented for Region 1 (IT)
Telephony implemented for Regions 5 and 6 (IT)
Region 1 Go-live Regions 3 & 4 Go-live
Regions 5 & 6 Go-live
Telephony implemented for Regions 3 and 4 (IT)
Integrated processes designed
Interim customer service solution developed (IT)
End-state processes implementation
Single phone system (IT)
Go-live of Sales through CS
Single PICARD solution (IT)
Reporting periods for combined business agreed
Integrated KPI reporting implemented (IT)
Combined Finance system go-live (IT)
Single reporting suite (IT)
Centralised cashbook (close all Target accounts)
Communicate structure to staff (HR)
Interim structure implemented (HR)
End-state structure implemented (HR)
Transfer of assets to one company
Pricing for 1 May delivered (Marketing, Sales, IT)
New marketing structure implemented (HR)
2007 Marketing plan signed off
Proposition signed off
Channel strategy implemented (Ops, Sales, IT)
Channel strategy signed off
Launch Phase 1 proposition (Ops, Sales, IT)Launch full proposition (Ops, Sales, IT)
Comms plan signed off
Begin re-branding
Launch sector propositions
Implement new sales force structure (HR)
Implement new processes
Quick sales wins implemented New performance management framework Implement new performance
management framework
Interim CRM solution implemented (IT, Customer Service)
Cross-sales activity initiated
Detailed structure communicated to staff (HR) Structure implemented (HR)
Receive 1 May SORs from all workstreams (All))
Project prioritisation complete Scanners implemented
in Target (Ops)
Agree SLAs with the business (all)
ISO 200 Service Management certification
Co-location of data centre Implementation of new
data centreImplementation of new
Infrastructure
Plans and Financials finalised (All)May 1 Plans finalised
Integration progress reported to the City
Integration Financial ‘run-rate’reported to the City
End state CRM solution implemented (IT, Customer Service)
Telephony implemented for Region 2 (IT)Region 2 Go-live
Redeployment strategy agreedKey employees identified for retention package agreed
RDs’ Assessment CentresSales & Finance Mgrs’
assessment centres
DGMs’ assessment centresSingle HR policies & procedures
Single Payroll processes identified Payroll integration (IT)
Incentive schemes communicatedComplete comms of culture/change
Induction training developed
Agree performance review system HR structure completed
Depot rationalisation plan complete
Begin pilot integration – Bristol & Swindon
Begin Phase 1 depot rationalisation- South West region
Begin Phase 2 depot rationalisation
Complete depot rationalisation(Phase 8)
Integrated label design completed (IT)
New trailers and cages implemented
Coventry hub changes implemented
Implement line haul changes
Integrated International & Ireland operations
Integrated label implemented (IT)
Dynamic Gazetteer updates live (IT)
Major contracts for re-negotiation identified Facilities management
policies implemented
Year 1 Procurement savings realisedSupplier database
completedSupport Services Organisational Design Agreed
HSE full compliance confirmation
Mixed C&D Driver model fully implemented
All sub-contactor vehicles City Link branded
Mixed Driver Model Trial Complete
May 1 Delivered
1 May IT development completed
6 August Ops development completed
Management conference
Org structures for all Workstreams
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08
Sales & Account
Customer
30 Sep 08 31 Dec 08 31 Mar 09 +
Operations -
Operations -
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08 30 Sep 08 31 Dec 08 31 Mar 09 +
Programme
IT
HR
Marketing
Management
Services
Finance
Support Services
Hub
Branch
Programme
IT
HR
Marketing
Management
Services
Finance
Support Services
Hub
Branch
Programme
TodayToday
Financial Benefit Milestones
Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issuesMinor issues or slippage, will not impact overall
Operational Milestones
Major slippage or dilutionMinor slippage or dilution
Cost incurred
DependenciesOn schedule / on target, no issuesMinor issues or slippage, will not impact overall Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issues
Assess call volumes and agree Headcount
Agree Customer Service strategy
Telephony implemented for Region 1 (IT)
Telephony implemented for Regions 5 and 6 (IT)
Region 1 Go-live Regions 3 & 4 Go-live
Regions 5 & 6 Go-live
Telephony implemented for Regions 3 and 4 (IT)
Integrated processes designed
Interim customer service solution developed (IT)
End-state processes implementation
Single phone system (IT)
Go-live of Sales through CS
Single PICARD solution (IT)
Reporting periods for combined business agreed
Integrated KPI reporting implemented (IT)
Combined Finance system go-live (IT)
Single reporting suite (IT)
Centralised cashbook (close all Target accounts)
Communicate structure to staff (HR)
Interim structure implemented (HR)
End-state structure implemented (HR)
Transfer of assets to one company
Pricing for 1 May delivered (Marketing, Sales, IT)
New marketing structure implemented (HR)
2007 Marketing plan signed off
Proposition signed off
Channel strategy implemented (Ops, Sales, IT)
Channel strategy signed off
Launch Phase 1 proposition (Ops, Sales, IT)Launch full proposition (Ops, Sales, IT)
Comms plan signed off
Begin re-branding
Launch sector propositions
Implement new sales force structure (HR)
Implement new processes
Quick sales wins implemented New performance management framework Implement new performance
management framework
Interim CRM solution implemented (IT, Customer Service)
Cross-sales activity initiated
Detailed structure communicated to staff (HR) Structure implemented (HR)
Receive 1 May SORs from all workstreams (All))
Project prioritisation complete Scanners implemented
in Target (Ops)
Agree SLAs with the business (all)
ISO 200 Service Management certification
Co-location of data centre Implementation of new
data centreImplementation of new
Infrastructure
Plans and Financials finalised (All)May 1 Plans finalised
Integration progress reported to the City
Integration Financial ‘run-rate’reported to the City
End state CRM solution implemented (IT, Customer Service)
Telephony implemented for Region 2 (IT)Region 2 Go-live
Redeployment strategy agreedKey employees identified for retention package agreed
RDs’ Assessment CentresSales & Finance Mgrs’
assessment centres
DGMs’ assessment centresSingle HR policies & procedures
Single Payroll processes identified Payroll integration (IT)
Incentive schemes communicatedComplete comms of culture/change
Induction training developed
Agree performance review system HR structure completed
Depot rationalisation plan complete
Begin pilot integration – Bristol & Swindon
Begin Phase 1 depot rationalisation- South West region
Begin Phase 2 depot rationalisation
Complete depot rationalisation(Phase 8)
Integrated label design completed (IT)
New trailers and cages implemented
Coventry hub changes implemented
Implement line haul changes
Integrated International & Ireland operations
Integrated label implemented (IT)
Dynamic Gazetteer updates live (IT)
Major contracts for re-negotiation identified Facilities management
policies implemented
Year 1 Procurement savings realisedSupplier database
completedSupport Services Organisational Design Agreed
HSE full compliance confirmation
Mixed C&D Driver model fully implemented
All sub-contactor vehicles City Link branded
Mixed Driver Model Trial Complete
May 1 Delivered
1 May IT development completed
6 August Ops development completed
Management conference
Org structures for all Workstreams
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08
Sales & Account
Customer
30 Sep 08 31 Dec 08 31 Mar 09 +
Operations -
Operations -
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08 30 Sep 08 31 Dec 08 31 Mar 09 +
Programme
IT
HR
Marketing
Management
Services
Finance
Support Services
Hub
Branch
Programme
Today
Financial Benefit Milestones
Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issuesMinor issues or slippage, will not impact overall
Operational Milestones
Major slippage or dilutionMinor slippage or dilution
Cost incurred
DependenciesOn schedule / on target, no issuesMinor issues or slippage, will not impact overall Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issues
Assess call volumes and agree Headcount
Agree Customer Service strategy
Telephony implemented for Region 1 (IT)
Telephony implemented for Regions 5 and 6 (IT)
Region 1 Go-live Regions 3 & 4 Go-live
Regions 5 & 6 Go-live
Telephony implemented for Regions 3 and 4 (IT)
Integrated processes designed
Interim customer service solution developed (IT)
End-state processes implementation
Single phone system (IT)
Go-live of Sales through CS
Single PICARD solution (IT)
Reporting periods for combined business agreed
Integrated KPI reporting implemented (IT)
Combined Finance system go-live (IT)
Single reporting suite (IT)
Centralised cashbook (close all Target accounts)
Communicate structure to staff (HR)
Interim structure implemented (HR)
End-state structure implemented (HR)
Transfer of assets to one company
Pricing for 1 May delivered (Marketing, Sales, IT)
New marketing structure implemented (HR)
2007 Marketing plan signed off
Proposition signed off
Channel strategy implemented (Ops, Sales, IT)
Channel strategy signed off
Launch Phase 1 proposition (Ops, Sales, IT)Launch full proposition (Ops, Sales, IT)
Comms plan signed off
Begin re-branding
Launch sector propositions
Implement new sales force structure (HR)
Implement new processes
Quick sales wins implemented New performance management framework Implement new performance
management framework
Interim CRM solution implemented (IT, Customer Service)
Cross-sales activity initiated
Detailed structure communicated to staff (HR) Structure implemented (HR)
Receive 1 May SORs from all workstreams (All))
Project prioritisation complete Scanners implemented
in Target (Ops)
Agree SLAs with the business (all)
ISO 200 Service Management certification
Co-location of data centre Implementation of new
data centreImplementation of new
Infrastructure
Plans and Financials finalised (All)May 1 Plans finalised
Integration progress reported to the City
Integration Financial ‘run-rate’reported to the City
End state CRM solution implemented (IT, Customer Service)
Telephony implemented for Region 2 (IT)Region 2 Go-live
Redeployment strategy agreedKey employees identified for retention package agreed
RDs’ Assessment CentresSales & Finance Mgrs’
assessment centres
DGMs’ assessment centresSingle HR policies & procedures
Single Payroll processes identified Payroll integration (IT)
Incentive schemes communicatedComplete comms of culture/change
Induction training developed
Agree performance review system HR structure completed
Depot rationalisation plan complete
Begin pilot integration – Bristol & Swindon
Begin Phase 1 depot rationalisation- South West region
Begin Phase 2 depot rationalisation
Complete depot rationalisation(Phase 8)
Integrated label design completed (IT)
New trailers and cages implemented
Coventry hub changes implemented
Implement line haul changes
Integrated International & Ireland operations
Integrated label implemented (IT)
Dynamic Gazetteer updates live (IT)
Major contracts for re-negotiation identified Facilities management
policies implemented
Year 1 Procurement savings realisedSupplier database
completedSupport Services Organisational Design Agreed
HSE full compliance confirmation
Mixed C&D Driver model fully implemented
All sub-contactor vehicles City Link branded
Mixed Driver Model Trial Complete
May 1 Delivered
1 May IT development completed
6 August Ops development completed
Management conference
Org structures for all Workstreams
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08
Sales & Account
Customer
30 Sep 08 31 Dec 08 31 Mar 09 +
Operations -
Operations -
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08 30 Sep 08 31 Dec 08 31 Mar 09 +
Programme
IT
HR
Marketing
Management
Services
Finance
Support Services
Hub
Branch
Programme
IT
HR
Marketing
Management
Services
Finance
Support Services
Hub
Branch
Programme
TodayToday
Financial Benefit Milestones
Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issuesMinor issues or slippage, will not impact overall
Operational Milestones
Major slippage or dilutionMinor slippage or dilution
Cost incurred
DependenciesOn schedule / on target, no issuesMinor issues or slippage, will not impact overall Major issues or slippage, may delay or reduce Milestone achieved and complete
On schedule / on target, no issues
Assess call volumes and agree Headcount
Agree Customer Service strategy
Telephony implemented for Region 1 (IT)
Telephony implemented for Regions 5 and 6 (IT)
Region 1 Go-live Regions 3 & 4 Go-live
Regions 5 & 6 Go-live
Telephony implemented for Regions 3 and 4 (IT)
Integrated processes designed
Interim customer service solution developed (IT)
End-state processes implementation
Single phone system (IT)
Go-live of Sales through CS
Single PICARD solution (IT)
Reporting periods for combined business agreed
Integrated KPI reporting implemented (IT)
Combined Finance system go-live (IT)
Single reporting suite (IT)
Centralised cashbook (close all Target accounts)
Communicate structure to staff (HR)
Interim structure implemented (HR)
End-state structure implemented (HR)
Transfer of assets to one company
Pricing for 1 May delivered (Marketing, Sales, IT)
New marketing structure implemented (HR)
2007 Marketing plan signed off
Proposition signed off
Channel strategy implemented (Ops, Sales, IT)
Channel strategy signed off
Launch Phase 1 proposition (Ops, Sales, IT)Launch full proposition (Ops, Sales, IT)
Comms plan signed off
Begin re-branding
Launch sector propositions
Implement new sales force structure (HR)
Implement new processes
Quick sales wins implemented New performance management framework Implement new performance
management framework
Interim CRM solution implemented (IT, Customer Service)
Cross-sales activity initiated
Detailed structure communicated to staff (HR) Structure implemented (HR)
Receive 1 May SORs from all workstreams (All))
Project prioritisation complete Scanners implemented
in Target (Ops)
Agree SLAs with the business (all)
ISO 200 Service Management certification
Co-location of data centre Implementation of new
data centreImplementation of new
Infrastructure
Plans and Financials finalised (All)May 1 Plans finalised
Integration progress reported to the City
Integration Financial ‘run-rate’reported to the City
End state CRM solution implemented (IT, Customer Service)
Telephony implemented for Region 2 (IT)Region 2 Go-live
Redeployment strategy agreedKey employees identified for retention package agreed
RDs’ Assessment CentresSales & Finance Mgrs’
assessment centres
DGMs’ assessment centresSingle HR policies & procedures
Single Payroll processes identified Payroll integration (IT)
Incentive schemes communicatedComplete comms of culture/change
Induction training developed
Agree performance review system HR structure completed
Depot rationalisation plan complete
Begin pilot integration – Bristol & Swindon
Begin Phase 1 depot rationalisation- South West region
Begin Phase 2 depot rationalisation
Complete depot rationalisation(Phase 8)
Integrated label design completed (IT)
New trailers and cages implemented
Coventry hub changes implemented
Implement line haul changes
Integrated International & Ireland operations
Integrated label implemented (IT)
Dynamic Gazetteer updates live (IT)
Major contracts for re-negotiation identified Facilities management
policies implemented
Year 1 Procurement savings realisedSupplier database
completedSupport Services Organisational Design Agreed
HSE full compliance confirmation
Mixed C&D Driver model fully implemented
All sub-contactor vehicles City Link branded
Mixed Driver Model Trial Complete
May 1 Delivered
1 May IT development completed
6 August Ops development completed
Management conference
Org structures for all Workstreams
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08
Sales & Account
Customer
30 Sep 08 31 Dec 08 31 Mar 09 +
Operations -
Operations -
31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08 30 Sep 08 31 Dec 08 31 Mar 09 +
Programme
Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10Activity 14-May 21-May 28-May 04-Jun 11-Jun 18-Jun 25-Jun 02-Jul 09-Jul 16-Jul
Steering group meetings ▲ ▲ ▲ ▲ ▲Programme updates ▲ ▲ ▲ ▲ ▲ ▲ ▲ ▲ ▲ ▲
2.0 Operational Efficiency2.1 Cost base analysis
Collate existing cost and headcount data ▲Management interviews ▲Cost allocation review and challenge ▲Key cost driver analysis ▲Develop cost base output ▲Identify cost reduction opportunities ▲Overlay cost and headcount analysis with process mapping ▲Cost reduction recommendations ▲
2.2 Process analysis and opportunityComponent Model definition ▲Core process definition - Level 0 ▲End-to-end Process Analysis - Level 1 ▲Process improvement recommendations ▲
2.3 Technology FootprintManagement interviews ▲Application walkthrough ▲Service process walkthroughs ▲Cost / efficiency assessment ▲Process/ systems requirements mapping ▲
▲2.4 Software Business Assessment
Management interviews ▲Product walkthrough ▲Software delivery process review ▲Cost base lining - per product ▲Scenario analysis based on commercial input
▲
Phase 1 Phase 2 Phase 3Project Portfolio Summary 20/07/2012
Nu
m
Projec
t
PM Start_
date
Targ
et_C
omp_
Date
Fore
cast_
Comp_
Date
Categ
ory
Sta
tus
Ph
ase
Inte
rnal
/Ext
ern
al
Pri
ori
ty
Sco
pe
Tim
e
Co
st
Qu
alit
y
Ris
k
Comments
1 Global salesforce enforcement as CRM tool
CD 7/30/12 7/30/13 7/30/13 Mkting On-hold 1 E 1 Comment 1
2 Standardized project and time tracking IJ 7/30/12 7/30/13 7/30/13 Other Active 5 E 2 Comment 2
3 Data warehouse / reporting architecture GH 7/30/12 7/30/13 7/30/13 IT Active 2 I 3 Comment 3
4 Corporate Reporting Standardisation GH 7/30/12 7/30/13 7/30/13 Quality Active 1 I 2 Comment 4
5 e-File Checking Automation CD 7/30/12 7/30/13 7/30/13 IT Active 2 I 1 Comment 5
6 Back office / Financial improvements IJ 7/30/12 7/30/13 7/30/13 IT Active 3 I 2 Comment 6
7 Agent led growth plan GH 7/30/12 7/30/13 7/30/13 Sales On-hold 4 E 3 Comment 7
8 Productised corporate services offering EF 1/8/12 7/30/13 7/30/13 Sales Active 5 I 2 Comment 8
9 Immediate corporate software upgrade CD 1/9/12 7/30/13 7/30/13 IT Active 4 I 1 Comment 9
10 Low cost S/Med selling proposition IJ 1/10/12 7/30/13 7/30/13 Mkting Active 3 I 3 Comment 10
11 Project 11 GH 1/11/09 3/11/09 3/11/09 Cust A Active 3 E 2 Comment 11
12 Project 12 GH 1/12/09 3/12/09 3/12/09 Cust B Active 3 E 1 Comment 12
13 Project 13 CD 1/13/09 3/13/09 3/13/09 IT Active 2 I 1 Comment 13
14 Project 14 KL 1/14/09 3/14/09 3/14/09 Fac Active 1 I 1 Comment 14
15 Project 15 KL 1/15/09 3/15/09 3/15/09 Mkting Active 1 I 3 Comment 15
16 Project 16 CD 1/16/09 3/16/09 3/16/09 Mkting On-hold 2 I 3 Comment 16
17 Project 17 CD 1/17/09 3/17/09 3/17/09 Cust A Active 1 E 3 Comment 17
Business-take-on (BTO)
Client Service Centers (CSC)
Managed Services
(MSS) Data Entry
Supplier Compliance
(SC)
Systems Integration
Business Support
15 43 54 42 15 18 FTE's
£738k £1,802k £3,002k £1,060k £162k £926k Employment costs
£0k £0k £0k £0k £0k £0k Contractor costs
£33k £172k £561k £63k £38k £834k Non-Employment costs
£771k £1,974k £3,563k £1,123k £199k £1,761k Total costs
Labour Arbitrage BTO CSC MSS SC Sys. Int Bus Sup.Labour Arbitrage (India) Maybe Yes Yes Yes Maybe
Delivery Efficiency BTO CSC MSS SC Sys. Int Bus Sup.Increase of span of control Yes Yes Maybe YesReduce manual data input Yes Yes Maybe Yes
Reduce master data rew ork Yes Yes YesReduce hand-offs Maybe Yes Yes Yes Maybe
Improve capacity planning Yes Maybe Yes Yes MaybeIncrease multi skilling Maybe Maybe Maybe Yes Maybe
Improve performance measurement Yes Yes Yes Yes Yes YesBusiness Simplification BTO CSC MSS SC Sys. Int Bus Sup.
Increase service simplif ication Yes Yes Yes Yes Yes YesIntroduce/increase automated rules Yes Maybe Yes Yes Yes
Consolidation of duplicated activities Yes Yes YesQuality control optimisation Maybe Yes Yes Yes MaybeImprove Systems Reliability Maybe
Service consolidation / aggregationIT Automation / IT Footprint Enhancements BTO CSC MSS SC Sys. Int Bus Sup.
Project Veritas / case verif ication Yes Yes YesYes Yes Yes YesYes Yes Yes
TM1 replacementStandardized time tracking (Replicon) Yes
Integration of FIP w ith Inprotech / MemotechGlobal salesforce enforcement as CRM tool
e-billing (e.g. Serengeti or other) Yes Yes
Direct Debit: direct agent / PTO payment YesData Governance / Data model changes Yes Yes Yes Yes YesData w arehouse / reporting architecture
PRS enhancement / Rebuild Yes Yes Yes Yes Yes
ECM replacement
Patent Renewals
Employment costs
29 FINANCIAL SERVICES IT ADVISORY
Methodologies, tools, enablers and accelerators
Data ProfilingExperience of a range of tools including Trilliumtoprofiledatafrombothabusiness and technical viewpoint
Analytics and Business IntelligenceWe are Oracle Hyperion Essbase specialists with capabilities globally, however we have experience in a range ofothertoolsincludingSpotfire
Data Quality ManagementOur proven DQ framework covers all aspects of establishing, embedding and maintaining effective information management
Development We specialise in building analytic models and integrating with and/or building relatedreportingandworkflowtools.C#, Java, Java script, SQL, Perl & XML are focus areas
TestingWe have a proven set of tools to ensure testdefinition,requirementstraceability,non-functional testing, test governance and test management are completed to the highest standards
Hosting and Post go-live supportWe partner with a leading provider of hosting services to offer cloud hosting, managed hosting and private clouds at unbeatable service levels at the most competitive rates
Identify Risk
Validate Risk
Identify Owner
Assign Responsibility
Review Mitigation
Recommend Mitigation
Approve
Mitigate
SatisfiedMonitorDetermine Alternative Mitigation
Verify Mitigation
Close
Yes
Escalate
No
Review & Modify
Mitigation
Yes
No
Monitor Escalate
Operational committee
Steering Committee
No
Yes
1. Escalation includes if the Risk has materialized and a contingency plan is warranted, as well as the aging process
1
Tool
Record risk description
Update and record status
Monitor
Monitor
Update and record status
Monitor
No
Yes
TEA
MPr
ojec
t Man
ager
Prog
ram
Man
ager
Accept
No
Determine H/M/L
Run the Risk
Yes
Cyber Security benchmarkingAssessment Matrix for benchmarking against industry standards such as ISO 27002, ISF, NIST
Cyber security maturity modelAssessment of the maturity of the security framework. The framework isclassifiedasinformal,documented,integrated, strategic or optimised
Heat MapsAssess the cyber security risks and determine the impact of those risks to theorganisation.Theheatmapdefinesthe priority for the organisation to mitigate the key risks
FINANCIAL SERVICES IT ADVISORY 30
ERP assessmentsWe have experienced specialists and tools to help assess the risks associated withSAPconfiguration
ERP implementation supportOur ERP specialists can help identify and analyseSoDconflictswithinyourERPapplications quickly and effectively
Database toolsOur data specialists use leading tools touncoverconfigurationmistakes,identificationandaccesscontrolissues, missing patches, or any toxic combination of settings that could lead to escalation of privileges attacks, data leakage, denial-of-service (DoS), or unauthorizedmodificationofdataheldwithin data stores
Risk RegisterWe have an extensive operational risk register that can be used to test, augment or create control functions and MI
Dashboards and heat mapsWe have a number of pre-developed risk, financeandcompliancedashboardsthatcan be readily deployed using desktop technology
Regulatory data element mapsBCBS239, Finrep, Corep, CCAR, FDSF,EMIR,Mifid2…wehavecrossreferenced an idealised data model to each regulation, and have the ability to quickly assess your data models
31 FINANCIAL SERVICES IT ADVISORY
Credentials
FINANCIAL SERVICES IT ADVISORY 32
Credentials
We have over 200 repeat customers from all sectors of the financial services industry. Select credentials are detailed below:
BankingTier 1 Global Bank• Establish a change function responsible for all people,
process and systems change within the ‘bad bank’ entity which covered risk management, finance and operations
Universal Global Bank• KYC/AML impact assessment for the Retail and Corporate
Bank. Design and build out of global KYC Utility
Large UK Bank• Project management and implementation of PEGA as a
credit decisioning workflow tool
Tier 1 Global Bank• Strategy, planning and programme management of a mixed
client and consulting team to transform the banks risk, finance and treasury systems and processes. The solution used Oracle OFSA
Tier 1 Global Bank• Implementation of a group IT risk reporting function.
Development of a control framework, alignment of IT policy and standards, and development of an IT risk reporting dashboard
Asset and Wealth ManagementHedge Fund and Asset Manager• Risk Transformation and P&L Explain change management
including technical architecture, vendor assessment & package configuration and test management
Global Asset Manager• Provide the client with the ability to continually monitor their
fund manager’s actions by creating side-by-side analysis. This was achieved by reviewing current processes and creating an analytic tool to monitor and manage portfolio managers
Capital MarketsTier 1 EU Bank• Full lifecycle Risk & Finance integration across two
merging banks, covering all market, credit and liquidity risk systems and reference data migrations
Tier 1 US Investment Bank• Basel II programme management throughout full-life
cycle including architecture design and operating model & process change
Tier 1 Japanese Brokerage• Self-Assessment and subsequent project management
and delivery of remediation activities for BCBS239. The principles for effective risk data aggregation and risk reporting
UK Bank• Project rescue and delivery of the e-trading platform
‘Reuters Electronic Trading MarketsLink’, for FX Spot, Forwards, Swaps & Options and Money Market Deposits
InsuranceLarge UK Insurer• Led the Risk technology stream of the assurance review
in relation to regulatory concerns. Conducted managing director and C-suite interviews to ascertain current state issues and provide target state recommendations. Key recommendations covered regulatory compliance, cost optimisation and business steering dimensions
Global Insurer• Improved the user experience for accessing and managing
unstructured data, while reducing the complexity and inherent risk presented by sensitive, unstructured data at rest
33 FINANCIAL SERVICES IT ADVISORY
Notes
FINANCIAL SERVICES IT ADVISORY 34
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