Under the Dodd Frank Act, UK swap dealing entities are required to report annually to the Commodities Futures Trading Commission (CFTC) in the US. The process to support this reporting involves a vast and detailed attestation process, whereby control owners are held accountable for their part in regulatory compliance, providing information on the processes they are […]
An international tier-one bank was implementing a Trade Data Repository (TDR) and required advice, management and expertise across a variety of problem spaces. A large team had been assembled to work on various aspects across the platform and Brickendon was asked to provide expertise to develop solutions across the entire range of activities. The original […]
In this final part of our series of articles on change, we look at technology-related factors that contribute to the failure of change initiatives. We will specifically focus on the less obvious perspectives, from hidden complication, through to loss of control and how consumers generally determine how, or indeed whether, to embrace technology-led change. Firstly […]
Failure to acknowledge the importance of technology in today’s financial services sector will leave some large incumbent banks fighting for survival, a top banker has said. Speaking to an audience at Chatham House late last year, former Barclays head Anthony Jenkins said the financial services sector was reaching its ‘Uber’ moment. He said this would […]
XML (Extensible Markup Language) is widely used as the lingua franca for information exchange in banks and financial institutions but its importance is often overlooked. Failure to adopt XML and its related tools could cost banks large amounts of money and time. “XML is a language that enables banks to communicate with each other and […]
This is the second in a series of three articles published in our Brickendon Journals. The articles explore some of the underlying patterns associated with change failure by looking at the problem from three distinct perspectives – people, process and technology. For the first article click https://btcwebdev.wpengine.com/?post_type=article&p=5484 The third will appear in the first journal of […]
XML (Extensible Mark-up Language) is the lingua franca for the exchange of information in the banking industry, but many institutions are struggling to use it effectively. Failure to correctly translate RAW trading message data into XML-related languages could cause banks to miss regulatory deadlines and incur large fines. Brickendon were engaged to develop a system […]
A large international bank was struggling with the reconciliation between assumed and the actual settlement of trades, which was costing them large amounts of money and considerable man hours. Brickendon were engaged to assess the existing situation, devise a programme to remove operational risk from the current process and to provide a strategic solution going […]
A major US Custodian bank was undertaking a full front-to-back build out of an entirely new equity derivative product, which needed to be integrated into the organisation’s existing infrastructure. The product required an operating model to be defined for multiple areas of the bank across several workstreams. Brickendon was brought in to assess the existing […]
The client needed an experienced programme manager with strong soft skills to help reorganise and reinvigorate a team seeking to recover from recent issues and deliver large-scale reference data change. The Challenges A need to have change accepted within the broader group of stakeholders A team structure was required to scale to meet the demands […]