Case study: Global compliance operating model
A new global compliance operating model for a sustainable future
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A top five global Asset Manager wanted to input a new order management system but its complex operating model was a barrier to efficient implementation. At the heart of the problem lay the complex business structure which was made up of a number of legacy boutique businesses, all set up with different processes and systems that had been quickly patched together. We recommended a full re-engineering of the structure and a smooth transition to a single global compliance operating model.
Our client had set a tight deadline of just 18 months for project delivery. We immediately saw that its complex organisational structure and number of stakeholders was a major roadblock, so we set about creating a detailed project plan that would break down barriers in communication. We also held global workshops to bring together stakeholders from each office and key function.
Then we delved deep into the existing systems and specific challenges of each area, creating a bespoke global operating model that would iron out the existing inconsistencies across locations. We not only made sure our client’s systems and controls were robust enough to meet regulatory standards in each jurisdiction, we tackled the structural inefficiency that was proving to be a huge burden for our client – both financially and operationally.
But our work wasn’t over. A new compliance operating model of this scale needs careful and strategic implementation. Drawing on our unique mix of compliance and technology expertise, we rolled out robust testing of the new systems and processes, taking the pressure off our client’s small internal IT team. What’s more, we spent a lot of time on the ground to train key staff and respond quickly to any teething issues.
The TCC Difference
- Experienced in delivering large-scale change management programmes, we easily achieved the 18 month deadline for a fully operational compliance model.
- We know working smarter makes processes more efficient, teams more productive and reduces duplication. Our solution reduced operational risk and created a more cost-effective compliance model that would work for the client’s commercial goals.