Global Markets – Target Operating Model & Program Delivery
- Global Markets Operations; FICC business – post-trade
- London, New York, Paris, Hong Kong footprint. Rates, Credit, Repo markets. Full Securities Operations scope including Asset Servicing.
- Software package selected. Greenfield program.
- Multiple critical F2B interfaces including Finance and Group Treasury feed
- Governance : Setup three tier model: Advisory Board; SteerCo; Working party – covering all stakeholder groups
- Team : Mobilised core team from scratch, blending experienced internal and external resources – 25fte
- Vendor delivery : Included vendor Product SME in working party – partnership approach. Designed commercial construct to establish first ever ASP contract (on
demand, transaction pricing) for the vendor despite their well established product (licence, onsite) model
- Scope : All cash fixed income products across 5 booking centres with approximately 25 interfaces. Significant Balance Sheet impact
- Financials : Total program cost circa $25m; controlled Year 1 costs to ensure validated TOM in place prior to implementation launch
- Roadmap : Detailed roadmap and global phasing designed and approved. Delivered full Target Operating Model including Application Architecture, future state process catalogue, Operations/Finance boundary (sub-ledger); Operations control environment; and Inter-company booking model
- Domain Matters took on Program Management role from Day 1.
- Full program team mobilised including Operations SMEs, PMO; BA; TA and Application Architect roles
- Vendor ASP contract designed in conjunction with in-house Legal and Technology teams
- Full TOM prepared, delivered and approved by COO and CFO of Global Markets
- Primary booking centre live (London) and application service is stable and performant
- Long term roadmap (phasing, per booking centre)
Domain Matters Ltd
Registered in England and Wales
Company number 10682935
58 Burnt Ash Road
London, England, SE12 8PY