Operations Risk

Operations Risk

Established, agreed and implemented the ‘Global De-Commissioning Process’ across 237 legal entities in 37 countries following the merger of two investment banks.

Performed a position audit of the integrity and adequacy of the key performance indicators (KPI’s) covering all product groups and major locations around the globe including London, New York, Frankfurt, Tokyo, Sydney, Hong Kong and Singapore.

Implemented an Activity Based Management Programme – identifying significant procedural and system enhancement opportunities, yielding headcount reductions of 25% in the first six months and fuelling productivity gains of 50% over 12 months.

Developed the Minimum Control Model, identifying and documenting key controls throughout the life cycle of a trade including asset servicing cash dividend.

Assisted in the development of a Global Operational Risk policy.

Implemented and supported the Operational Risk Management process in London and North America, including the establishment of a formal global management process.

Analysed trade flows and key reconciliations across all business groups. Produced gap analysis against Global Best Practice.

Developed a process map for European operations, resulting in significant reduction of costs.

Managed the significant business, financial and regulatory risk arising from the transfer of business to a rival bank. This involved the review of the appropriateness and adequacy of the data storage, retention and retrieval processes.

Project managed the implementation of and optimisation of match engines for the control of nostro and depot reconciliations.

Performed the UAT testing and Programme Management for the Y2K date change upgrade for confirmation, settlement, accounting systems and desktop applications.

Led the team to ensure that system functionality for a custody department was Euro compliant.

Developed definition documentation, minimum standards and measurement criteria for KPI’s to help assess the level of control within the transaction chain. Developed methodology to help make assessments of risk using benchmarks, target setting and actual levels.

Developed and implemented a Transaction Processing Risk model to help demonstrate to regulators an effective risk management process thereby easing the burden on capital requirements.

Project managed, for a number of clients, the implementation of the Smartstream system, designed to automate the nostro and depot reconciliations and funding processes. This included the re-engineering of processes to optimise utilisation of the technology.

Conducted a review to identify the gaps in the segregation of duties against the Global Operations Control policy, for all methods of moving cash and securities.

Successfully developed and implemented a validation methodology to prove the correctness of balance sheet accounts for exchange traded futures and options. This included the testing of the automatic reconciliation of comparing the settlement system to the general ledger.

Designed and documented middle and back office operating procedures for the development of an Internet bank based in Luxembourg.

Review of client money / segregation of funds implications of operational balance sheet accounts.

Extensive reviews of intersystem reconciliation processes throughout the trade processing life cycle and including accounting / general ledger systems.

Various static data reviews to ensure quality and consistency of logic across the data processing environment.