Establishment of a stand-alone bank
The client was an internationally operating bank. As a result of a forced demerger, the client asked Double Effect to analyse 12 different aspects of the Treasury Department. The aim was to determine where the demerger would create gaps in the front-to-back processing of various product groups. Subsequently, different scenarios were devised to offer a solution to bridge these gaps, so that the client could continue with business as usual. In order to achieve this, business cases were drawn up.
approach
Double Effect worked in teams consisting of Double Effect employees, internal staff and external specialists to achieve an optimal result for the client. All parties involved were consulted during the one month analysis phase. Through the analysis insight was obtained into the gaps, which served as a basis for recommendations.
Then, a project team was set up consisting of Double Effect employees, internal employees and external specialists. This meant liaising with different departments and cultures to bring together subfields to form an overall picture. Costs and benefits of different scenarios were compared.
This eventually resulted in 12 projects varying in duration from three to 12 months. Examples of projects commenced:
- The implementation of a new collateral management system.
- New Market Reference Data (MRD) processes and systems were established.
- Back Office staff was trained to process Futures.
- An IT application in use in Singapore was duplicated and installed in Amsterdam.
- Client Valuation Reporting was rolled out.
result
As a result of the project, the Finance Department of our client was now fully equipped to provide reporting and be legally compliant in connection with overnight working in the Front Office. All this was realised in just over a year.
go to expertise: financial markets
