PROCESS AND IT TRANSFORMATION
Background & Challenges
As part of a multi-year transformation program, the selection of an internal tool to optimize and secure the Markets Bank’s accounting chain has significant implications in terms of costs, staffing requirements, work methods, and objectives; in this context, our client’s project team sought support throughout all phases of the business analysis process.
The challenges of the project were as follows:
- Maintain comprehensive daily accounting records for the Markets Bank’s operations
- Reduce the time required to close the trading desk
- Optimizing the accounting process for the Markets Bank
Solution
Our methodological approach was based on collaboration with our client’s front- and middle-office teams for derivatives, the project management office, and the accounting department. It drew on our operational expertise in Agile methodologies, our proven track record in delivering high-stakes projects, and our experience in governing this type of project.
The proposed measures and actions taken were as follows:
- Participation in defining the project scope and identifying a feasible and achievable development plan
- Participation in the establishment of governance bodies
- Establishing an Agile process (Scrum Master) for managing the backlog and leading sprints
- Validation of User Requirements (Backlog)
- Formalization of functional and technical specifications (use cases)
- Formalization of the acceptance testing process for the Real-Time and End-of-Day (sprint) scopes
- Formalization of the deployment strategy (access, schedule, launch report, post-launch support, rollback, etc.)
- Deployment and Post-deployment Support
- Standardization and centralization of project documentation
- Presentation of the summary of the work to top management
Benefits for the customer:
Our structured approach, developed in collaboration with all stakeholders, enabled our client to manage the first expected batch and automate some of the acceptance testing processes for subsequent batches.
Effective governance and strategic leadership, taking into account the challenges involved, have enabled the implementation of the first phase of the CDS, TRS, and CCDS products.
In summary: Oversaw and managed Phase 1 through to operational deployment, resulting in a demonstrable improvement in processing times.
Quanteam’s expertise makes all the difference
- Extensive knowledge of financial products (derivatives)
- Expertise in the client's technologies and environments.
- Proven experience in project management
- A multidisciplinary and integrated team.
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