Digital Transformation

Helping a Tier 1 European investment bank improve its client data op model

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The Challenge

A Tier 1 investment bank was facing heavy regulatory scrutiny around its client data management op model. Client data is the bedrock of maintaining regulatory compliance. It drives risk decisions, trading decisions and is fundamental to anti-financial crime. The investment bank was under pressure to get its client data under control and demonstrate that good governance was in place.

The Ask

We were asked to design and implement a new client data governance op model, that demonstrated to regulators that the investment bank had best-in-class client data management.We were chosen over larger consultancies as we offered both senior full-time financial services experience and delivery expertise. We combined pragmatic thinking around business processes with building our own tools on-site to educate, support and guide adoption of the change roadmap.

The Approach

To ensure the bank was able to control their client data and demonstrate best in class governance, we realised that a complete change roadmap was needed, as well as a data overhaul. But to ensure long lasting success, we knew that the implementation was just as important as the design.

We committed to delivering not only a target state operating model vision, but the roadmap to get there, as well as the implementation of the first transition state.

To ensure that the bank’s client data was under control, we reviewed over 2,000 client data elements, to see how they were used by the business, and identified the 100 most critical elements. This aided the implementation of governance through the new operating model.

We delivered:

  1. Client data capability model, showing business capabilities with a maturity heatmap
  2. Target state data governance process, including key control points linked to data policies
  3. Transition roadmap with interim states, covering process change, organisation restructuring and application implementation
  4. Successful implementation of first interim state

The Results

We delivered a change roadmap which enabled business and IT teams to understand exactly what would be required of them on a month-by-month basis.By creating a granular roadmap, it enabled better planning and resource management, as well as more lead time for system implementation discussions.

We enabled:

  1. Proof of adherence to data policies, with named data owners and data stewards
  2. Improved data quality through measurement & dashboards, leading to less time spent fixing data quality issues
  3. Easier reporting to regulators and audit teams about business processes

FS experts consulted

FS user cases analysed

new data sources identified

value propositions designed

partner companies reviewed

recommendations made

projects to kick-off

partner companies reviewed

recommendations made

projects to kick-off