Middle Office Operations teams today are faced with four key difficulties:
- Outdated systems and processes that are heavily reliant on manual user input, support, and maintenance.
- A cost cutting environment with more being expected to be done with less.
- An ever changing regulatory environment resulting in a significant increase in workload.
- With investment banks searching for ever more innovative ways to enhance P&L , front office teams continue to create new products to boost revenue, meaning operations are being asked to own new processes with no corresponding boost to operational infrastructure to support them.
We helped one of the largest asset managers in the world manage these difficulties using the following 5 step process:
Working closely with operations management we created a priority order for each process that we intended to automate.
We analysed each process to ensure all inputs, outputs, logic steps and process nuances were understood by our development team.
We developed prototype solutions for each process, continually testing and verifying process outputs.
Once prototypes were signed off, we conducted prod-parallel testing to confirm the outputs were 100% accurate.
Solutions released into production, new SOP documentation was completed and the previous process was decommissioned.
We transformed the daily activities of an entire operations team resulting in dramatically less time spent processing data, leaving the team to focus on their core activity – managing operational risk.
- Processes heavily reliant on user?
- Simple BAU processes?
- Scalable BAU processes?
- Embedded data validation?
- Embedded reconciliation checks?
- Business logic applied programmatically?
- Consistent data output?
- Previous Processes
- Redesigned EDI Processes