26-06-2015 | CASE STUDIES
Index Remediation and Migration for Major European Investment Bank

Parker Fitzgerald was engaged by a major European investment bank, following an IOSCO compliance certification review, to take responsibility for all the necessary management and delivery requirements associated with the remediation of published index issues and with the outsourcing of indices to a third party purchaser.

The team provided training on the implications of outsourcing for the bank’s business operations function, negotiated outsourcing arrangements with the third party and implemented key control points, such as an annual survey of indices, to meet ongoing IOSCO and ESMA-EBA requirements.

Trusted Delivery

  • Target Operating Model Design and Transitional Management Parker Fitzgerald mobilised quickly to support both run-the-bank and change-the-bank activities, including the definition of: the target operating model following the outsourcing of indices; an interim operating model during the transitional phase; and governance, controls and a policies framework. To further support the transition, Parker Fitzgerald provided management coaching and support to the leadership teams.
  • Technical Infrastructure Design and Delivery Parker Fitzgerald led the definition of the technical infrastructure required, both tactically during transition and also for the strategic run-the-bank environment. The team also defined the SLA parameters with the third party outsourcer to ensure the bank’s long term interests were protected.
  • End-to-End Delivery Expertise The team provided training on the implications of outsourcing for the bank’s business operations function, negotiated outsourcing arrangements with the third party and implemented key control points, such as an annual survey of indices, to meet ongoing IOSCO and ESMA-EBA requirements.

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