Financial Data Operating Model Transformation Program

Engagement Summary

In 2021, a leading global bank engaged Monticello Consulting Group (Monticello) to support a bank-wide remediation effort surrounding its data standardization process.  The goal of the remediation program was to improve the bank’s data quality, data governance, and internal controls, ensuring operational resilience and regulatory compliance.

Monticello responded to the client’s needs by setting up a remediation program governance structure to better facilitate program meetings, drive alignment, manage milestones, forecast resource allocation, and track deliverables. Monticello also helped to design and implement a comprehensive Data Operating Model. The model has three activity groups and 10 steps: Consumer Activities (steps 1-4), Provider Activities (steps 5-9), and Consumption of Data Requirements (step 10).

Case Study Detail

PROJECT BACKGROUND

Our client set up a risk remediation program in direct response to data governance and internal control gaps found in its systems and operations.  Several stakeholder groups were involved, including Finance, Risk & Controls, Compliance, and HR. Monticello was brought on to assist the Finance group in their response to Phase 1 of the four-phase remediation action plan.

The objectives were to improve data quality & governance and reduce regulatory reporting risks by focusing on known data & system issues, processes and controls surrounding manual adjustments, and end-user computing applications The comprehensive Data Operating Model was created to provide an appropriate level of risk data capture and aggregation on the bank’s balance sheet across their products such as Wholesale Loans, FX Derivatives, Retail Deposits and Branded Cards. It provided a step-by-step process to identify and fix the known systems, data, and operational issues.

ENGAGEMENT OBJECTIVES

Program Management & Governance: Assisted the PMO to engage program stakeholders, manage dependencies and maintain management reports

• Facilitated workshops and meetings, driving alignment on milestones and deliverables

• Produced weekly status reports, monitored RAID logs, and updated project plan  

• Maintained a consistent line of communications, ensuring agreements were met for audit review

• Packaged deliverables, meeting minutes, approvals, and working group materials for submission to Internal Audit

Resource Management: Created the resource plan to forecast cost, utilization, and headcount on the program

• Created resource scenarios and costing models

• Forecasted headcount and resource utilization, ensuring a sustainable workload allocation

• Provided periodic resources & financial updates to program sponsors

BUSINESS VALUE

As a result of Monticello’s expertise in program and change management, our client saw an improvement in program decision making, stakeholder communications, and adoption of the new Data Operating Model. Most importantly, the client saw a substantial reduction of risk around data transformation, manual touchpoints, adjustments, and reconciliation breaks. This reduction of risk allowed our client to successfully close many data and control gaps.

SKILLS & KNOWLEDGE (Level of Difficulty)

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Implementing Trade Monitoring Controls for a Leading Financial Institution

Engagement Summary

Monticello Consulting Group (Monticello) recently partnered with a leading financial institution to support the delivery of a large-scale data remediation and controls program. The goal of the program was to 1) transform the list of external trading venues into a digital platform 2) build detective controls to discover broker and electronic activities being placed on an external trading venue that is not recorded on the inventory list, and 3) develop an escalation management process for the exceptions. These deliverables enhanced the client’s transaction monitoring and trade surveillance capabilities while ensuring regulatory compliance.

The Monticello team combined their proven project management toolkit and effective stakeholder communication to ensure key program risks and dependencies were successfully mitigated and delivered. By leveraging strong data analytics skills and capital markets knowledge, Monticello was able to quickly identify data quality issues and provide sound data remediation plans to eliminate the gaps identified across dozens of source systems and multiple asset classes globally. By applying an Agile methodology and working closely with the client’s SMEs from various functional groups, Monticello successfully implemented the solutions on time, on budget, and with the highest quality.

Figure 1 – Project Workflow

Case Study Detail

PROJECT BACKGROUND

Monticello’s client was looking to implement a digital platform for their trading venues inventory and establish appropriate controls within the year. Given the immense amount of data across various asset classes, systems, geographies and jurisdictions, numerous critical dependencies were required to be completed within a tight timeframe before the controls could begin to be built out:

• Assess accuracy and completeness of critical data elements in the trading source databases and remediate data gaps.

• Verify and document pre and post-trade data flow via multiple channels: portal, electronic, and voice/chat.

• Create mapping tables to accommodate various internal and external product taxonomies used by the institution.

• Build a relational data model to demonstrate data hierarchy in the new system.

• Provide evidence of data alignment and demonstrate the concept of controls between the trading venues inventory system and trade repository system.

Upon delivering the key dependencies, the technology solution for the trading venues inventory system and detective controls needed to be completed in eight weeks, thus proving the effectiveness of the controls.

ENGAGEMENT OBJECTIVES

Program Management

Implemented a project management structure to facilitate effective communications across key project teams, manage project scope and track project progress.

1. Communicated project goals and objectives with key global stakeholders across sales & trading, the first line of defense, the second line of defense, technology, and operations.

2. Tracked project risks, issues, and dependencies and held weekly project working sessions to ensure stakeholder engagement and early escalations.

3. Developed KPIs and reporting metrics for executive management communications.

Data Management & Analytics

Collaborated with the development team to deliver system solutions of the trading venues inventory and build automated control processes to detect any circumvented activities.

1. Identified the key data points to locate global markets trading activities such as trading venues, Volcker desks, and traded products from dozens of source systems.

2. Designed and tested data queries in coordination with technology and operations teams to facilitate complex trading flows across multiple asset classes: equities, rates, spreads, commodities, and financing.

3. Conducted a 5-week “proof of concept” exercise before development started to demonstrate the logic and the effectiveness of the detective controls by using data analytics tools such as SQL, Tableau, and Python.

4. Supported User Acceptance Testing by creating test plans, remediating data quality issues, and creating matrices for SLA verification.

5. Created a centralized SharePoint to manage documents and store data records to suffice audit requirements.

Agile

Improved the delivery capability of the technology team by following an Agile methodology through multiple iterations.

1. Managed the progress of the code delivery and incorporated end users’ feedback to the working code on a daily basis.

2. Tracked data quality issues through Jira to ensure the transparency of data remediation progress.

3. Organized daily stand-up meetings to address development issues and highlight delivery priorities.

4. Created burn down charts to present weekly development progress to key stakeholders.

BUSINESS VALUE

Monticello Consulting Group provides services across the financial services industry to establish compliance and reduce regulatory risks. By applying expertise in project management, data analytics, Agile methodologies and strong stakeholder communication, the Monticello team successfully implemented a sustainable solution for this large-scale global data controls project to successfully enhance its client’s trade monitoring and surveillance processes. By working collaboratively across sales & trading, first line of defense, second line of defense, technology, operations and audit, Monticello aligned all stakeholders to ensure the timely delivery – ultimately allowing the client to maintain competitive advantage over industry peers while exhibiting sound market conduct and compliance practices.

SKILLS & KNOWLEDGE (Level of Difficulty)

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Leveraging Digital Tools During Process Redesign to Accelerate Large-scale Transformations

Engagement Summary

IBOR transition – it’s been an exciting 18 months – but we are not done yet.  One aspect of this transition that has been largely absent from the discussion is the need to ensure that teams executing this once-in-a-lifetime change have the technology and tools that they need to successfully transition to the alternative rates. The wholesale banking technology organization of a top 10 global commercial bank engaged Monticello Consulting Group in late 2019 to spearhead the design and development of digital tools to support the IBOR transition. Monticello kicked off the engagement with a current state assessment of functional processes (credit, technology, operations, and fulfillment) that were in place. Next, Monticello redesigned the functional processes to ensure they were comprehensive and scalable. To support this process redesign, Monticello created a new digital tool to enable systemic intervention in the repricing process to greatly accelerate the LIBOR migration. The tool captured all of the necessary data elements, created a workflow process engine to identify and track the required steps on the process, interfaced with downstream systems to change any needed data elements, and reduced the manual time required to implement change. Ultimately, the Monticello team ensured that the client: (1) effectively engaged and communicated with internal and external stakeholders regarding the transition requirement and timeline, (2) maintained legal integrity of each credit agreement, and (3) demonstrated the effectiveness of each step taken to clients and regulators.

During the process review and discovery, Monticello identified opportunities where the tool and process redesign could support initiatives beyond the IBOR transition. The client had a broad need for a portfolio tool that could be used for all portfolio review activities. As such, the tool was designed to be modular and easily changeable to allow for future workflow processes to be included while being interconnected with the entire system stream. Taking a holistic approach to a singular problem, allowed Monticello to identify a broad-based solution that met the needs of IBOR transition and beyond.

Case Study Detail

PROJECT BACKGROUND

The cessation of IBOR rates has a broad impact on financial services. From technology, sales, internal funding operations, and beyond, this change impacts almost every functional area of a bank. The IBOR cessation is a critical global transformation that requires a bank to demonstrate robust operational readiness. To accomplish this, areas such as process redesign and data consolidation through to regulatory reporting needed to be reviewed and adjusted in order to facilitate a comprehensive end-to-end transition from IBORs to replacement rates. Monticello, in coordination with its client, was tasked to drive success across two significant workstreams. The first mandate was to capture all required data points in relation to wholesale credit exposures from the downstream accounting systems. The second mandate was to create a workflow tool designed to identify priorities and actions to be taken as well as track results while integrating with other applications and systems. Together, these mandates were necessary to streamline the process and accelerate the path to support a successful transition from IBORs to replacement rates. entities based on their overall risk and impact.  

ENGAGEMENT OBJECTIVES

Data consolidation and workflow tool creation included four components:

• Identify all data points required to (a) locate all credit facilities that have the ability to use an IBOR rate (b) contact internal partners that work with the client to migrate away from IBOR and (c) enable a rate change process that is stable and scalable.

• Redesign the end-to-end credit process to facilitate a mix of manual and automatic rate change activities in coordination with technology and operations. Ensure that the redesigned process is robust enough to handle the large-scale volume, approvals, and documentation. Create solutions for any gaps in the new process utilizing internal tools and activities to reduce time to market and increase adoption by end-user groups.

• Build a tool that can aggregate the required data and present it to users in a graphical interface that is complete and user-friendly. As part of the tool development process, the Monticello team ensured that the tool was able to interface with upstream and downstream systems to reduce the manual time required to reprice the credit facilities.  Additionally, the tool needed to leverage the redesigned end-to-end credit process.

• Ensure end-user and technology testing completeness, accuracy, and stability.

BUSINESS VALUE

Monticello Consulting Group, through a continuous partnership with our client, embarked on an ambitious process redesign and digital transformation engagement to accelerate the transition from IBOR to reference rates. By leveraging our data analysis and automation expertise, the Monticello team was able to develop a tool that supported data collection and workflow management of all transition activities. Ultimately, the tool enabled our client to complete large-scale changes to portfolios with minimal manual interventions. Our rigorous program management and testing governance methodologies, end-to-end process understanding, and timely execution helped support readiness for this monumental shift in interest rate benchmark reform.

SKILLS & KNOWLEDGE (Level of Difficulty)

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Deploying Program Governance & Stakeholder Communication Toolkit to Remediate Market Conduct Risk

Engagement Summary

In early 2021, Monticello Consulting Group (Monticello) partnered with the Change Management team at a leading financial institution to support the delivery of a large-scale market conduct risk remediation program to comply with Consent Order directives from the Federal Reserve Bank of New York (FRBNY). This program was initiated by the client in response to a regulatory examination, which found the bank lacked sufficient internal controls to mitigate misconduct across designated market activities of in-scope businesses. The goal of the program was to transform and enhance the following frameworks and capabilities:

• Conduct Risk Framework

• First Line of Defense Controls Testing Capability

• Transaction Monitoring Capability

• Trade Surveillance Capability

• Supervisory Framework

• Accountability Framework

• Order and Execution Data Management Solution

Monticello deployed resources across numerous program workstreams to support the delivery of control solutions, as well as the Program Management Office (PMO) to track project plans, key milestones, risks, issues, and dependencies. The Monticello team combined their proven program governance toolkit and effective stakeholder communication to ensure key program risks and issues were successfully mitigated and resolved through sound governance. Given the public nature of Consent Orders, there is heavy scrutiny and oversight from senior management up to the Board and C-suite executives. By implementing a dedicated Program Management Office to centrally manage the governance structure across program workstreams, Monticello was in a position to effectively hold stakeholders accountable, execute a clear communication strategy and maintain project momentum towards meeting major milestones in a timely manner.

Additionally, Monticello managed all program reporting obligations and supported senior leadership and program sponsors through bi-weekly program status updates to the program’s working groups and Steering Committee. The team also produced comprehensive reports for the bank’s compliance executives and the FRBNY on a monthly and quarterly basis, respectively, to present progress made against the firm’s regulatory commitments.

Case Study Detail

PROJECT BACKGROUND

The FRBNY assessed a substantial civil penalty to Monticello’s client, a leading financial institution. Regulators concluded that the bank lacked sufficient firm-wide governance, risk management, compliance, and audit policies and procedures to effectively mitigate misconduct across banking practices.

ENGAGEMENT OBJECTIVES

Program Management & Governance

Managed program governance under the change management function for the Global Markets business. Monticello supported the Program Management Office to drive the timely delivery of Consent Order mandates through stringent execution of project plans, timely risk and issue management, and robust governance standards. The PMO function included the following responsibilities:

• Define reporting routines and effective program governance processes to satisfy requirements and align with business needs.

• Chair program-wide meetings to liaise with workstream PMOs on project statuses

• Identify and manage program key issues, risks, and internal/external critical dependencies.

• Ensure adherence to enterprise-wide program management standards.

• Maintain end-to-end book of project attributes in central tracking and risk management tool for stakeholder visibility

Stakeholder Communication & Reporting

Leveraged a strategic communication structure to provide tailored updates to stakeholders at varying levels of seniority and accountability for program deliverables. Critical program information was communicated through a dashboard that highlighted program status, the path to green plans, and key risks, issues, and dependencies. In addition, the PMO tracked key performance indicators (KPIs) to measure workstream progress against books of work. The team also raised all off-track and at-risk milestones for review and guidance from senior program executives.

BUSINESS VALUE

Monticello Consulting Group provides services across the financial services industry to establish compliance and reduce regulatory risks. By leveraging our program governance toolkit and strong stakeholder communication, Monticello enables clients to successfully navigate complex regulatory directives and turn challenges into opportunities to build effective business solutions. Our team partners with cross-organizational client teams and oversees the end-to-end execution for Consent Order remediation. With deep regulatory knowledge, change management expertise, and proven governance standards, Monticello successfully ensures global financial institutions can maintain a competitive advantage over industry peers while exhibiting sound market conduct and compliance within the regulatory landscape.

SKILLS & KNOWLEDGE (Level of Difficulty)

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Enhancing Mortgage Trading Revenue and Market Share by Integrating Digital Tools

Engagement Summary

Monticello Consulting Group (MCG) was engaged by a leading global bank to oversee the implementation of eTrading tools on its Non-Agency Mortgage-Backed Securities desk. This addition of cutting-edge digital tools and new data sources to one of Wall Street’s top Mortgage Trading desks enabled traders to identify and act on a greater number of trading opportunities. By building the tools to harness additional sources of market data and streamline lengthy manual trading processes into a quick automated solution, the desk was able to greatly increase the productivity of its traders, aiding both market share and revenue.

MCG managed the project from initiation through to completion: developing project timelines; managing delivery and communications; and identifying and documenting dependencies, risks, issues, and accomplishments. By working closely with both development teams and traders, Monticello was able to enable a smooth transition to the future state. Monticello’s expertise in complex financial products, project management, digital transformation and Agile methodology were key to the success of this strategic initiative.

Fig 1. Current State and Future State

Case Study Detail

PROJECT BACKGROUND

Mortgage-Backed Securities (MBS) trading is a highly manual process, particularly in the Non-Agency space where bonds are backed by mortgages that fail to qualify for agency backing and are therefore much more heterogeneous than in the larger Agency-Backed market. A typical process involves a buyer calling or emailing a dealer asking for a quote, the trader then checking his inventory, looking upmarket data manually, inputting it into a pricing model (often run via spreadsheet), then copy the output to a new message to reply. A typical trader involved in making markets may only be able to respond to a handful of buyer inquiries per day.

Likewise, automating MBS trading is more complicated than many other fixed-income securities, given the number of variables in the pricing model which themselves require models to determine (such as prepayment risk). These models are also more frequently updated as economic and market conditions change, requiring a flexible and seamless integration process with trading tools. 

Our client was looking to expand their MBS market-making business by implementing new tools across their Mortgage desks to enable automation and integration of this process. The goal was to improve productivity and reduce the potential for errors to allow traders to execute more trades while reducing operational risk. In addition, the desk wanted to integrate additional market data feeds from FINRA into their data visualization software to better identify trading opportunities. They expect total revenue growth of $3M over three years following completion of the multi-year program across all desks. MCG was contracted to manage the rollout of these tools to the Non-Agency MBS desk.  

ENGAGEMENT OBJECTIVES

Program Management

Implemented a project management structure to facilitate effective communication across key project teams, manage project scope, and track progress.

1. Determined project timeline in accordance with resource constraints, external dependencies, and commitments to senior management

2. Managed execution through clear communications, detailed progress tracking, and effective problem-solving

3. Documented and escalated all risks, issues, and dependencies as required

Digital Transformation

Helped development team deliver cutting-edge technology tools to transform and automate the Non-Agency MBS trading process.

1. Ensured complete understanding of dependencies and system requirements prior to the start of implementation

2. Verified that testing plan was robust and complete to ensure the system was functional, reliable, and secure

Agile

Enabled development team to follow Agile model of delivering working code, then prioritize features and fixes based on feedback from end-users.

1. Managed process of continuous delivery and updates to working production software and tracked changes to planning as feedback was received from end-users

2. Tracked project delivery through Agile tools (Jira) to ensure that all stakeholders had up to date information on current progress and priorities

BUSINESS VALUE

The Monticello team applied expertise in project management, digital transformation, Agile delivery and MBS product knowledge to ensure a seamless implementation. The team was able to quickly get up to speed given their extensive experience with trading technology and technology integration. By facilitating communication between stakeholders and efficiently managing the software delivery lifecycle, the team helped the client achieve their goals in increasing trader productivity, reducing operational risk and supporting a strategic digital transition of the MBS trading desk.

SKILLS & KNOWLEDGE (Level of Difficulty)

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Enhancing Business Controls for Surveillance Data at a Leading US Bank

Engagement Summary

As a result of an internal audit, our client’s equities and fixed income technology groups recognized that their applications that send trade data to surveillance systems lacked data completeness, defined SLAs, and sufficient monitoring and escalation protocols. As a result, first and second line of defense trade alerts were at risk of delay and not aligned with internal policies or external regulations. Monticello’s Financial Services Advisory and Change Management practice areas were brought in to lead the program and eliminate the gaps that existed in the legacy controls to ensure compliance.

The Monticello team performed an assessment of the current state and developed a strategic roadmap that aligned people, process, and technology. The team provided project governance and implementation support that allowed the client to meet regulatory and internal deadlines for the complex global stakeholder initiative. A key factor in the project’s success was the team’s prior experience collaborating with project partners across multiple geographies and their experience with the complex system landscape. By leveraging their capital markets, trade surveillance, and technological domain knowledge, Monticello was able to quickly assess the situation and make recommendations based on industry accepted best practices. In conjunction with the client’s SMEs, Monticello was also able to define and implement solutions on time, on budget, and in a manner that considered the future state landscape – ensuring that the solution was able to handle new systems and products as they are rolled out in the years to come.

Case Study Detail

PROJECT BACKGROUND

In today’s data driven world, financial institutions are monitoring trading activities on more markets than ever before, which in turn requires enhanced visibility across multiple trading venues, sources, and asset classes as the pool of data grows exponentially. Along with this growth comes greater scrutiny from regulatory authorities who apply systematic controls and surveillance procedures to ensure compliance.

As a result of an internal audit, our client identified an issue centered around data completeness within their surveillance data repository during periods of enhanced trade volume which was initially uncovered during the Covid-19 pandemic induced trading craze. Given the vast number of systems, geographies, and jurisdictions involved, it was determined that a current state assessment was required.  This would include a review of the fixed income, currencies, commodities and equities applications that send trade data to internal supervision and surveillance systems to clearly map the existing controls, review for adequacy, identify areas of weakness, and define enhancements and solutions.  Once implemented, the bank could ensure confidence that their surveillance monitoring models are complete, accurate, and future-proof.  

ENGAGEMENT OBJECTIVES

Program Management

Actively engaged stakeholders from 50+ teams and implemented a scope management plan and associated work breakdown structure for applications within the realm of the asset classes outlined for this program.

• Managed and communicated overall project goals and objectives with the technology owners of the 50+ applications in scope.  Collaborated on the timelines, benefits, and format of the program rollout to ensure stakeholder engagement.

• Developed KPIs and reporting metrics for executive management communications.

• Addressed and escalated risks at the earliest possible point while attaining necessary sign-offs required for completion of audit remediation.

Data Management & Analytics

Designed application analysis templates to capture the current state of the client’s system architecture.

• Documented data flows utilizing Visio to illustrate the data journey from source/origination, enrichment, and through to the surveillance applications along with each associated hand off point along the way.

• Created matrices to easily provide visual summaries of gaps identified and trends across the system landscape.

• Created a centralized SharePoint to manage the document store, reporting process, and to provide automated program and workstream level RAG status.

BUSINESS VALUE

Monticello Consulting Group is a trusted partner serving the financial services industry with a consistent track record of helping clients reduce their regulatory risks while improving operational efficiencies. By working with our client to successfully translate complex regulatory requirements into effective business solutions, the Monticello team implemented the risk management and technical controls to ensure trading and system of record applications were robust. The Monticello team partnered with the owners of approximately 50 applications across 5 business areas to identify issues for remediation.  Monticello utilized our proven Agile project management and project governance approach that allowed the client to roll out solutions faster and with quality resulting in significant time and cost savings.

SKILLS & KNOWLEDGE (Level of Difficulty)

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Driving Efficiency in Client Onboarding Through Standardization and Automation

Engagement Summary

In late-2019, Monticello Consulting Group (Monticello) partnered with the change management team at a leading U.S. financial institution to support the strategy and operations of a new client onboarding program. This program was initiated by the client to consolidate and standardize their previously disjointed and highly manual onboarding processes. The goal was to create an efficient and centralized core platform to be used globally across the organization. The Monticello team was brought in midway through the three-year implementation in order to enhance the strategy and drive the project to a timely completion.  The team provided the client with the necessary leadership and program management to achieve their ambitious timeline and meet global stakeholder needs for a successful implementation. The Monticello team created and delivered a revised strategic roadmap, taking into consideration changing business and regulatory needs. Next, the team leveraged their client onboarding expertise to ensure a quality implementation and that all stakeholder needs were properly assessed. Finally, the team ensured that the data management aspect of the program was designed to provide stakeholders and senior leadership teams with clear and insightful KPIs in order to facilitate more efficient decision making in the years to come.

In order to ensure that the client onboarding platform was being efficiently utilized, the Monticello change management team, operations excellence, and automation experts partnered cross-functionally with business and technology groups to strategically prioritize high impact areas for improvements. The team recommended and implemented automation to streamline the end-to-end process, reduce onboarding cycle times, and improve customer satisfaction. In conjunction, the team enhanced existing proprietary applications within the bank to ensure connectivity between all platforms and downstream systems.

Front-to-Back Client Onboarding Workflow

Monticello’s focus was also to redesign the client onboarding program’s manual reporting process. By defining robust JIRA labeling standards, the team was able to create a dashboard within JIRA to provide real-time insights and business intelligence needed to spot trends, mitigate risks, and make informed decisions.

Case Study Detail

PROJECT BACKGROUND

Client onboarding is the process by which a financial institution introduces new clients to its business. Onboarding is a complex and time-consuming process that involves negotiations and agreements, account setup, and regulatory compliance with Anti-Money Laundering, Know Your Customer, and the Foreign Account Tax Compliance Act (FATCA). The onboarding process is unique to the client’s needs and the country specific regulations which add significant complexity and time to the onboarding process. Over time, our client’s processes became disjointed and inconsistent due to the highly manual nature of the process that were in place. There was a clear business need to centralize and streamline the process, accelerate client onboarding times, and meet regulatory mandates. A robust global dashboard was also required to support leadership decision making.

ENGAGEMENT OBJECTIVES

Program Management

Implemented a customized governance model to align program and project execution with business objectives and enhanced metric development for transparent and effective communication and decision-making.

1. Worked with business owners and users to develop strategy and business cases for new product features

2. Liaised with stakeholders to gather business and functional requirements for streamlining and automating business processes

3. Supported release management including end-to-end go-live planning, testing, and execution

Data Management & Analytics

Drove tangible business outcomes through intelligent capture, analysis, and reporting of Key Performance Indicators (KPIs).

1. Defined labeling standards for JIRA tickets to provide clear insights in development work and defect resolution

2. Created a centralized JIRA dashboard to replace the manual reporting process and provide automated program and workstream level metrics

3. Developed KPIs and reporting metrics for management communications. Addressed and escalated risks and issues while attaining necessary sign-offs required for completion of documentation and processes

BUSINESS VALUE

Monticello Consulting Group provides services across the financial services industry to collaborate with business and technology to reduce costs, manage risks and seize growth opportunities. By working with clients to understand the complex nature of client onboarding and assess the impact it has on both existing and new business models, Monticello enables clients to target the pain points with the highest return on investment. Our team partnered with onboarding managers, reference data teams and technology to develop business requirements and oversee the end-to-end implementations of enhancements to the new client onboarding platform. By leveraging our client onboarding subject matter expertise, program and project management toolkit, and data management and visualization capabilities, Monticello ensured the platform was adopted across all lines of business globally while simultaneously providing more robust insights into program health to the senior leadership team. Most importantly, the client experience was enhanced and transformed as onboarding volumes increased 28% and cycle times were reduced by 47%.

SKILLS & KNOWLEDGE (Level of Difficulty)

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