Brickendon helped a global European bank deliver front-to back contingent liability capabilities. The bank had a number of credit problems and the aim was to manage the risks associated with the downgrade of the bank’s own credit rating across various parts of the business. Specific areas needing to be addressed included global derivatives, SPV, CCP, SFT and other businesses.
Client Challenges
The client had many challenges to ensure their contingent liabilities risk are segregated according to
the credit ratings. These included:
A lack of in-house expertise to drive the programme and meet the required deliverables.
A need to expand the subject matter expertise of the client’s own employees.
A lack of agile working practices slowing down developments and preventing quick reactions to
short-notice changes in the business requirements.
The need for a more innovative and strategic based approach to resolve issues encountered as
part of the project.
Brickendon Solution
The client engaged Brickendon to stand up a team of experts at short notice to implement
tactical changes whilst preparing a more strategic approach. The work included:
Provide a team of Management Consultants, Project Managers and subject matter experts/Business Analysts to help drive the programme to meet the required deliverables.
Help the client expand its own subject matter expertise, whilst ensuring the team working
on the programme are agile enough to react to changing and short-notice business
requirements.
Collaborate with the client’s treasury, liquidity management, and legal teams to value the
monetary impact triggered by the downgrade and develop the appropriate valuations and
calculations.
Collaborate with the client’s IT architecture team to identify the necessary data attributes for
the valuations and to define the data source.
Client Benefits:
The benefits realized by the client were as follows:
A contingent liabilities programme created allowing work to be appropriately prioritised and dependencies aligned accordingly.
The production of project artefacts to best-practice standards, with transparent management and regional resourcing.
The alignment of stakeholders to project plans, with ongoing support for all processes in the production environment.
The identification of appropriate contingent clauses for trades in all geographies and creation of a full impact assessment for the analytics process.
Assurance that the data quality requirements are met and maintained through a revised control framework.
Engagement of stakeholders in the delivery process, enabling relationships across the
organisation to be leveraged to ensure appropriate support, awareness and scheduling
Why Choose Brickendon
Our track record: We have demonstrated a long, proven track record since 2010 of transforming
our clients through our innovative bespoke solutions.
Our innovative approach: No one client is the same, therefore our intelligent, experienced and
focused consultants use their industry experience to address each challenge in an innovative way.
Our Specialist Teams: Our in-country, nearshore and offshore capabilities mean we are well
placed to cater for all our clients’ needs, making the best use of our consultants’ 10 years-plus
industry experience.
Our passion: We love what we do and thrive on improving our clients’ profitability, efficiency and
increasing their competitive edge. We are driven to see the tangible benefits at our clients.