Milestone

REGULATORY & FINANCE TRANSFORMATION

SALES & TRADING ANALYSIS & REENGINEERING (STARSM)

Assessment and response to the challenges and constraints presented by the evolving global regulatory framework:

  • Provide management with an overall assessment of the impact current and evolving global regulation on Capital Markets businesses’ ROE. This ROE assessment serves as the basis for determining the required changes to both the Target Business and Target Operating Model by:
    • Highlighting businesses with unviable future state ROE’s;
    • Identifying RWA mitigation opportunities;
    • Identifying opportunities to reduce direct and allocated costs.
  • Within the mandated conformance period, assist in the development of a comprehensive Volcker Rule Compliance Program.
  • Develop an Operations/Technology/Finance and Compliance remediation program that is conducive to satisfying the requirements imposed by Dodd Frank regulation in the US and EMIR/MiFID regulation in Europe.
  • Develop a strategic business and operating model for clearing activities, including an appropriate pricing structure.

ENTERPRISE DATA MANAGEMENT

Business-Aligned Enterprise Data Management Strategy and Architecture:

  • Current state assessment of data management program
  • Definition of future state architecture aligned with business objectives
  • Data governance
  • Business Intelligence and Data Warehousing
  • Master data management
  • Meta data management
  • Data integration and quality
  • Program mobilization and planning
  • Program implementation

REGULATORY REPORTING TRANSFORMATION

Designing and implementing an optimal cost/profitability reporting framework:

  • Data models and data sourcing strategies
  • Regulatory reporting application/process strategy and implementation
  • Developing detailed accounting and consolidation processes (Multi-GAAP accounting, Swinging, Netting, Consolidated Equity Calcs etc) to support core regulatory reporting criteria

TRANSFORMATION & PROCESS IMPROVEMENT

Stabilize, support, transform and optimize the finance function to reach key short and long term goals:

  • Strategic transformation: transformation of a functional unit to satisfy the requirements of an evolving organizational, business, or sourcing model
  • Business process improvement: enhancement of the operational efficiency, control effectiveness, and tangible output relative to a business process
    • Financial reporting and MIS process analysis, redesign and enhancement
    • Business process reengineering
  • Functional support and stabilization: enabling of process continuity during periods of business disruption or staffing instability
    • CFO, Controller and Business Area Controller daily functional support with embedded Continuous Process Improvement SM

SOURCING ADVISORY

Develop a comprehensive sourcing strategy around financial business processes:

  • Sourcing strategy development: captive (onshore / offshore, Shared Service Models), Outsource (onshore / nearshore / offshore)
  • Portability assessments: functionally decomposing processes and analyzing portability to a new model via risk / return dimensions
  • Vendor selection and transition management

COST & PROFITABILITY OPTIMIZATION

Design and implement an optimal cost / profitability reporting framework:

  • Assessment of current expense allocation methodology
  • Business-driven activity model design
  • Tailored allocation methodology and model requirements
  • Client hierarchy design and rationalization plan
  • Product and client intersection / dimensional design
  • Client and product profitability reporting
  • Technical solution installation and configuration

RELEVANT TEAM QUALIFICATIONS

  • Implemented the STARSM Program for the Fixed Income, Commodities and Currencies businesses at a global bank. The multi-phase project included: 1. a current state analysis of the Rates business; 2. an impact analysis of Dodd-Frank Title VII on the client’s derivatives franchise; 3. an impact analysis of global regulatory changes (e.g. Dodd-Frank, Basel 3) to specific client businesses.
  • In response to significant issues raised by the institution’s primary regulator, assisted a leading U.S. based commercial finance organization in the development and execution of an enterprise level data architecture program that would support all enterprise level data needs as well as provide a common and validated source for critical reporting data elements for each business segment to reference.
  • Led a multi –year regulatory and finance transformation initiative at a global financial institution in the following key areas while providing overall program management:
Finance Data Sourcing
  • Accountability for the sourcing and integrity of granular accounting data, transactional data and reference data. The implementation specifically includes delivery of data requirements to support US CCAR Reporting, Call Reporting, and FBO reporting requirements.
  • Development of current state and target state front to back Data Flows.
  • Development of business and functional requirements for data sourcing solutions.
  • Validating the linkage of accounting balance data, transactional data, and reference data across all data entities within the finance data warehouse.
  • Delivery and monitoring of reconciliations to prove data integrity between Financial, Local Regulatory and Group Regulatory reporting.
  • Identification of data quality issues, and root cause analysis.
Accounting and Consolidations Process
  • Developing detailed accounting and consolidation processes (Multi-GAAP accounting, Swinging, Netting, Consolidated Equity Calcs etc) to support core regulatory reporting criteria.
  • Supported a Global Financial Institution through a multi-year global finance function Smart-Sourcing Initiative. The program mandate included three phases: 1) transitioning over 1000 finance roles to captive centers in Manila and Mumbai; 2) transitioning over 800 onshore Finance roles into a newly expanded onshore Middle Office; and 3) supporting the transformation of the retained onshore Finance capability into a highly analytical, business decision support driven organization. The program streams that were supported included: Current State Functional Decomposition, Functional Assessment Scoring, Process Configuration Assessment, Functional Prioritization, and Offshoring Transition Project Plan and Checklist Design and Management.
  • Assisted the Office of the CFO at a large global investment bank in a program of Continuous Process Improvement SM and functional support throughout the organization including: identification and implementation of short and long term process / control improvements, and identifying and developing reporting solutions for a wide spectrum of sales and trading capital markets products.
  • Reviewed the current state processes, reports and IT architecture of an IPV team dedicated to two specific Investment Manager asset groups. The final deliverable was a Project Initiation Document for the implementation of future state process and IT architectures.
  • For a global investment bank, provided both project management and business analyst support for a strategic global change management program dedicated to transforming and aligning the bank’s Daily Risk and P&L production and management reporting processes.
  • For a Tier 1 U.S. Based Global Custodian, implemented all components of the allocation solution. Implementation included the definition of an enterprise-wide activity and function model applied globally across 4 regions, ~1,500 cost centers, 14 product categories, and ~12,500 employees. This implementation also included volume data integration from > 60 global source systems, rationalization and consolidation of multiple client hierarchies into a single master, and resolution of calculation issues impacting revenue computations at the client account level of detail. The primary driver for this initiative was the desire to better calibrate contractually driven new and existing business pricing decisions to a global effort and volume driven allocation process.

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