Top tier bank
- A complex operational process surrounding the management of periodic tasks across thousands of transactions on an individual basis
- The StructureIt solution led to the centralization of automated transaction specific task creation and management including 4-eyes and Management Reporting transformed the business – moving from an unconnected manually intensive process to a systemized consolidated control
- Implemented globally to ensure consistency and scale across the organization
Our customer managed thousands of transactions across multiple asset classes, each with their own unique operational requirements such as
- Periodic Reporting
- Periodic Payments
- Corporate Actions
- Annual Reviews
- Know-Your-Customer (upfront and recurring)
- Key Dates such as AGM
Each team managed its set of transactions using spreadsheets that were manually maintained and distributed. During a period of strong growth, more transactions were brought under management creating additional maintenance overhead and the operational risk associated with it.
Our customer identified the opportunity for automating and centralizing transaction task management and engaged StructureIt to design and implement a solution.
How StructureIt helped
We analysed the operational needs of the business, detailing the common recurring tasks by transaction type. These became task templates which could be applied to transactions based on type and included flexible date logic for the forward calculation of key dates.
We then designed and deployed a centralised platform that integrated with:
- Their core deal management platform as the golden source for transactions
- Their core date calculation engine in order to accurate project key dates based on the date logic applied to the task in the transaction set up
- Additional internal and market data feeds to trigger the automated creation of transaction tasks based on certain conditions
The system allowed for ad hoc or custom tasks to be created by the client services manager allowing for the holistic management of all transactions operational needs.
The client services team could now log into the system on a daily basis and plan based on the upcoming activity as dictated by the tasks on the transactions that they were responsible for. When the activities were completed, tasks were marked as complete including links to supporting documentation with additional 4-eyes confirmation as needed based on task sensitivity.
With a centralised and standardised task management system, consolidated stakeholder reporting was simple to generate, including exception and aged reporting allowing management to quickly focus on areas of attention.
Operational task management became a highly automated process:
- Transaction tasks are now managed on an exception only basis across the business through a centralised platform
- Improved upfront communication around key date planning and occurrences created a better customer experience
- Following a successful regional implementation of this solution, it was adopted globally: rationalising and standardising processes globally
With each transaction now having a complete set of current and forward looking operational tasks attached to it, a 4-eyes completion control and rich summary and detail reports, management had confidence that key tasks and dates would not be missed.
Collaboration, on your terms
We collaborate with you to develop personalized software solutions that contribute to your business growth in the capital markets