System Selection

Our well tried and tested system selection methodology utilises our standard templates which can significantly shorten the selection process, it also provides a well-structured, documented and disciplined process that is auditable.

Types of systems our consultants have selected include:

• Portfolio Management
• Order Management
• Post – Trade Compliance
• Middle & Back Office Administration
• Client Reporting & Communications
• CRM & Workflow
• Private Banking
• Capital Gains Tax

Based on our extensive knowledge of the vendor landscape we are also well placed to assist our clients with commercial negotiations to help them to get the best possible terms and service levels.

Following the selection of a new system we are often retained by our clients to help with the implementation, we can help in a number of ways:

• Programme and Project Management
• Target Operating Model
• Assisting our clients and the system vendor to understand any gaps and assist both parties in agreeing and putting in place a mutually satisfactory solution
• Dispute resolution and remediation
• Working with our clients and the vendor to ensure that the detailed requirements are accurately gathered and that the system configuration progresses smoothly
• Data migration and archiving
• Test planning and test management
• New operational procedures
• Model office test planning and testing, simulated ‘real life’ testing of the system, the procedures, and the operational teams. This is an important final step in any system implementation and is based on simulated business events to ensure that they flow correctly from the start of the process to the end

Please do get in touch with us to discuss how we can assist you to fast-track your system selection initiative

Case Study – Offshore Private Bank

We then produced an Executive Summary encompassing:

• Details of the high level costs and implementation timelines for each system vendor
• An implementation and transition roadmap
• A risk matrix for each operational team
• A high level data quality assessment

Case Study – European Retail Bank

• Gather requirements
• Produce the future state Operating Models
• Prepare, issue and score a Request for Proposal (RFP)
• Plan and organise due diligence workshops with the short-listed vendor
• Assist with commercial negotiations

Our assignment was then extended to manage the programme to implement the system and to work with the bank’s selected service provider to outsource the middle and back office operations for the Custody business