Global Middle Office & Collateral Management
Parts of the BofAML collateral operations executed on a "swivel chair" process, where key CounterParty data were manually entered into a system that had downstream dependencies. This would often result in inaccurate CP information and calculations, resulting in dispute calls and escalations.
MY CONTRIBUTIONS
- Project management
- Business analysis
- Requirements gathering
- Change adoption
How I Helped
I led the client onboarding automation initiative around Portfolio Reconciliation for CFTC and EMIR under Dodd-Frank regulations.
Through a series of requirements gathering sessions with key stakeholders and end users to first understand what their pain points were.
Once we understood what the issues were, I created Visio flowcharts to outline how the data would flow along with integration points in-between systems.
Once requirements were signed off, I created a Project Plan containing deliverables, key milestones, dates, and responsible POCs.
We then tracked and reported to relevant stakeholders and collateral management with a combination RAG status reports, and a RAID log.
This allowed us to continue to move the project forward while providing a bird's eye view of how well it is progressing.
Outcome
- Mitigated CounterParty data inaccuracies
- Reduced the number of dispute calls and escalations due to improper manual work
- Improved operational efficiency across the Portfolio Reconciliation team
Outcome
- Mitigated CounterParty data inaccuracies
- Reduced the number of dispute calls and escalations due to improper manual work
- Improved operational efficiency across the Portfolio Reconciliation team
Can I help streamline your bank operations?
Let's have a friendly chat and find out
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