Worldwide system implementation
The asset manager of a Dutch insurer decided to implement a new trade system in order to centralise the usage of multiple systems. The new system would be used in both the USA and Europe for processing OTC derivatives, for the full trade life cycle; from deal capture to accounting. The objective of this project was to increase the quality of deal processing, create more transparency for management and decrease operational risk.
approach
During this project Double Effect worked on the side of the system supplier. Within the team, Double Effect was represented at different levels, from junior to partner, and with different responsibilities including PMO tasks, testing and project management. The project covered the various locations of both the system supplier and asset manager; the Netherlands, United Kingdom, France and the USA. Double Effect played a leading role in translating the requirements of the asset manager into system requirements. In addition, Double Effect managed the development team of the system supplier, while taking care of timely feedback to the end user. Our consultants also acted as sparring partners for the asset manager, using their extensive experience within the field of asset management.
result
A phased approach was used during the project. System parts were implemented in different phases, tackling one location at a time. In the Netherlands, the system has already been successfully implemented. During the write up of this case, the project is in progress in the USA. The current way of working will be amended for using the new system. When the system implementation has been completed, the current systems will be phased out.
go to expertise: asset management
