#Securitiesand derivatives #Valuation #Markto market #Payments #Accounting #Fastclosing

Background & challenges

As part of a multi-year transformation program, the choice of an in-house tool to optimize and secure the accounting chain of the Merchants bank has major implications in terms of costs, human resources, working methods and objectives. In this context, our customer's project team wanted to be supported throughout all the project management phases.

The challenges of the project were as follows:

  • Complete daily accounting for the Market Banking chain
  • Reduce time to market bank closure
  • Optimizing the accounting chain for the Markets bank

Solution provided

Our methodological approach was based on collaborative work with our customer's Front and Middle Derivatives business teams, project management and accounting. It drew on our operational expertise in Agile mode, our mastery of high-stakes projects and our experience in the governance of this type of project.

The proposed system and the actions carried out were as follows:

  • Participation in project framing and definition of a relevant, achievable allotment
  • Participation in setting up governance bodies
  • Formalization of an Agile process (scrum master) for backlog processing and sprint management
  • Validation of Requirements Expressions (backlog)
  • Formalization of functional and technical specifications (use cases)
  • Formalization of the acceptance process for Real Time and End Of Day (sprint) perimeters
  • Formalization of deployment strategy (access, planning, PV launch, After care, roll back...)
  • Deployment and After care
  • Formalizing and centralizing project documentation
  • Presentation of work summary to top management

Customer benefits:

Our structured approach, shared with all the players involved, enabled our customer to pilot the first batch and automate some of the acceptance processes for subsequent batches.

Good governance and management, respectful of the issues at stake, have enabled us to implement the first batch of CDS, TRS and CCDS products.

In summary: Steering and management of batch 1 through to operational deployment, proven improvement in processing chain and turnaround times.

Quanteam expertise makes the difference

  • Very good knowledge of financial products (derivatives)
  • Mastery of the customer's technologies and environments.
  • Proven project management experience
  • An integrated, multidisciplinary team.

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