Integration of BCBS IOSCO Framework on margin requirements, streamline processes and architecture to improve efficiencies
Objective
- Assist the bank in efficiently delivering process, infrastructure and organisational Change
Objective was to establish a BCBS IOSCO framework on margin requirements, streamline processes and Architecture to improve efficiencies; Also to enable support to other regulations viz. CFTC, ESMA, FinFrag, Mifid, HKMA, MAS and at various stages of the compliance life-cycle
CRISIL's solution
- Execution Strategy
- Formed a central co-ordination team comprising CRISIL and client representatives
- Worked closely with bank’s hiring managers in for defining requirements and skillsets; built a pool of 150 candidates to select from
- Implementation
- Engagement signed in June 2015 for 25 consultants with deep domain expertise
- Bank stakeholders had an opportunity to interact with candidates and provide an in-principal go ahead.
- Governance and Quality Control
- Intensive In-house Trainings: Up-to 6 week of domain intensive training (topics include: IB Derivatives, Regulations, stakeholder management, trade life cycle, BA processes and Bank specific systems)
- Weekly and monthly governance on project progress with regional and global client stakeholders
- Continuous performance assessment for consultants and feedback loop with bank managers
CRISIL impact
- 75% of team on boarded in Poland within 3 months of signing SoW and 100% within agreed SLA timeframe
- All team members have received excellent feedback from key stakeholder and have also contributed by training bank team members
Questions