Back Office Client Challenges
List of Challenges Our Clients Face in the Back Office
Accurate and Timely Consolidated Positions
Our clients are increasingly demanding more from their back office data. Our global clients are looking to consolidate position data across regions and our UK clients are looking for a similar consistency where they have more than one legacy platform and/or have multiple external managers.
We are engaged to assist our clients to create a consolidated and harmonious view of their position and transaction data. The requirement is driven in the first instance by regulation and the need to comply with the various and seemingly never-ending reports demanded by UK, EU, US and Asia-Pacific regulators. There is an equivalent demand internally. The centres of excellence that our clients are creating to service their clients are asking for consistency, accuracy and timeliness associated with consolidated high-quality records to assist client reporting, performance measurement and risk analytics.
Once requirements are agreed we help our clients deploy bespoke, client-facing yet pragmatic solutions to these problems by focusing on the target operating model and the timings and dynamics of the data itself. These two pictures provide a repeatable template for disparate data to begin its journey on a roadmap to become useful, reliable and business-critical.
Since formation ISC has been asked to assist its clients in delivering new products to market. Product delivery requires a multi-disciplinary skill set comprising disciplined project management coupled with an understanding of the end-to-end investment management process, investment vehicles and regulation. It is our belief that product teams add the greatest value when allowed to focus on product strategy and design. But far too frequently product teams have to focus time and resource on project management of the 'build' phase, resulting in missed opportunities to launch commercially attractive products.
ISC helps resolve capacity shortfalls in the product team by providing change managers with product delivery experience, allowing the product team to focus on the high value-add activities of product strategy and design.
Our consultants are ideally placed to assist as we understand the unique requirements of product development and the individual characteristics of investment vehicles and regulation. We increase the 'speed to market' by influencing and interpreting the project environment and creating positive relationships with all stakeholders.
Outsourcing the Back Office
Over the last decade ISC has assisted many providers and users of outsourced services. Outsourcing received a very bad press after the turn of the century as many deals were poorly constructed and created for the wrong reasons. The market has matured and we continue to help our clients enter into long-term, viable partnerships with the providers of outsourced services.
Our work has helped the providers establish best of breed operating models and standardised services. Assignments have prepared investment managers for outsourcing and delivered change for them whilst outsourced. We have improved service delivery by emphasising the need for a partnership and we help identify and construct appropriate points of isolation (the functional and technical division between the administrator and outsourcer).
Our approach has assisted in deepening the relationship between administrator and outsourcer by helping the administrator to construct a broader service, demonstrating an ability to service more functions and to provide an extended range of post-accounting functions such as; collateral management, OTC derivative servicing, performance measurement, risk analytics and client reporting.
ISC Back Office Capabilities