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Contingent Labour IT Managed ServicesAchieving your delivery goals in the financial sector through managed service

2 CONTINGENT LABOUR IT MANAGED SERVICES – ACHIEVING YOUR DELIVERY GOALS

These are unprecedented times. The challenges facing financial institutions are huge and constantly changing. Change is required within the financial institution in a cost efficient way and yet with a high degree of flexibility.

Grant Thornton is able to provide the right resource blend in addition to your permanent employees of embedded consultants and associates. Through our Contingent Labour Managed Service your resourcing can be optimally mixed and controlled at highly competitive rates. The best possible mix of cost and flexibility for large projects simplifies your delivery model leaving you to focus on building the business.

Executive summary

3 CONTINGENT LABOUR IT MANAGED SERVICES – ACHIEVING YOUR DELIVERY GOALS 3

The current challenges faced by financial services institutions are multi-dimensional

The current pressures:

Financial institution’s ability to meet regulatory requirements in a cost effective manner whilst enabling the business has never been more challenging.

Mandatory regulatory change

Deliver regulatory compliance with the numerous and often conflicting and/or overlapping national, regional and global regulatory pressures.

Cost optimisation

Business steering

Operate in a continual state of change across the policy, governance, people, process and systems dimensions, to be compliant in a cost effective manner.

Once effectively compliant, add business value by enabling enhanced management information for decision making and improved control, as well as facilitating the provision of new products and services.


Addressing these challenges is further complicated by numerous issues

Complexity of relationshipsWith an increasing reliance on consultancy and contract staff, the management overhead complexity increases where multiple vendors must be liaised with, monitored and governed.

Greater control requiredLinked to the insatiable requirements of regulators is the need to ensure the good conduct of your team members. Conduct risk has been highlighted as a severe risk to the financial services community resulting in a flow of fines and reputational damage.

Attracting and retaining talentThe cost to attract, develop and retain talent has never been higher. A high turnover of permanent staff is wasteful and increases the risk of poor delivery.

Required flexibilityThe project resourcing mix must remain agile to respond to cost pressures and ensure the correct specialist resource is available at the correct time. To maintain this flexibility a financial services institution must rely on a high proportion of contract or consulting staff to maintain its agility within its change function. This has pros and cons when compared to an established permanent team:

Cost Flexibility Expertise

• Predictable cost• Requires management overhead

• Can be cost effective if managed properly

• Can accommodate permanent headcount freezes

• Not efficient if contractors are retained for too long

• Can be expensive for protracted periods of time

• Consultancies will often consider different pricing models beyond just time and materials

• Difficult to ramp up and down quickly

• Teams tend to be stable in terms of turnover

• Has a high degree of flexibility• Can result in high rates of team

turnover

• Has a very high degree of flexibility

• Teams can be stable in terms of staff turnover

• Institutional experience can be very high

• Appreciation of market developments can be poor

• Institutional understanding can be lost in short time periods

• Contractor knowledge can be patchy and put delivery at risk

• Teams will have market leading knowledge in their field

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To enable the right resource mix, a number of questions should be posed:

• What is the ideal mix of permanent, contractor and consultant personnel in your team?

• What is the ideal mix of resource provided from vendors, agencies or consultancies?

• How is corporate understanding retained within your team without that knowledge leaving every six months?

• How can the management overhead of your team be simplified leaving you to run your business?

• How do you get the degree of resource flexibility you require without paying a premium for expensive resource?

• How can you leverage best practice in the market place while maintaining a core competence in-house?

• How do you decrease your reliance on key contractors and key permanent members of the team?

• How do you cost optimally deliver change whilst de-risking individual projects?

These questions need to be answered if the financial services institution is to deliver against its mandatory regulatory requirements and achieve its business growth plans in a cost constrained environment.

Demand

Deployment

Execution

Handover

ResourceAugmentation

Key pointof contacts

Partner team

Client Relationship Manager/Account Director

Project and programme managers, architects, business and data analysts, PMO, test managers and developers

HR

QA

MI

Communication

Gove

rnan

ce and reporting


How Grant Thornton can help

Contingent Labour Managed Service

Grant Thornton can supply specialist project and programme management, architecture, business and data analysts, test management, PMO and developer resource to you. For large programmes, Grant Thornton utilises our Contingent Labour Managed Service approach. Utilising our consultants and one of the largest associate pools in the UK of over 2,500 contractors, we are able to provide the right resources to enable you to deliver the appropriate teams to meet your challenges. Grant Thornton staff can utilise our consulting accelerators, tools and enablers to allow you to better achieve your business outcomes.

Client Change

GovernanceHuman Resources (HR) | Quality Assurance | Management Information

Demand Deployment Execution Handover

Areas include:• Demand management• Operational planning

Areas include:• Resource readiness• Speed of response/scalability• Rapid recruitment (where

necessary)• Mobilisation checklist

Areas include:• Business outcomes• Delivery• Accelerated delivery• Execution Management

Information

Areas include:• Skills transfer and training• Exit strategy


A flexible, scalable serviceOur Grant Thornton managed service is a model that we use for several of our strategic and largest clients. This provides an overarching framework that allows you the use of flexible project resources and allows you to focus on your strategic ambitions. The following pages detail the key components of this service.

Single point of contactEvery Managed Service will be appointed a dedicated account director who is the single point of contact for you for all of Grant Thornton’s delivery within the Managed Service. In this capacity they will work with you to ensure that our service meets your needs.

Human Resources (HR)Grant Thornton will take full responsibility for people management and issue resolution. Our task is to deploy the right resources at the right time to achieve the right results, managing any issues ourselves ensuring no detriment to you.

We will manage the onboarding and offboarding of staff, ensuring that newly deployed staff are fully up to speed on their role, and our latest consulting accelerators, tools and enablers (should they be useful to you). We will also manage all staff HR issues including holiday cover, performance management and suitability.

We typically provide a 20 day SLA for onboarding new staff, however as our joint demand management process matures during the engagement, we would look to reduce this period substantially. Both our robust associate and permanent staff onboarding processes will help this.

Quality assuranceOur quality assurance processes are designed to ensure that all of our services meet the highest professional and ethical standards. These processes include, but are not limited to:• adhering to the policy of ‘right people for

the right job’• subjecting all work to Grant Thornton’s

partner/director review• actively seeking feedback from clients to

enhance the quality of our service• seeking to agree key performance

measures with you in order to demonstrate and report on the quality of our service offering.

By providing oversight for our staff, we aim to ensure that all issues are raised and addressed in as timely a manner as possible in order for you to focus on your change agenda.


On-going support

Throughout the duration of the engagement we will look to maintain and reuse as many of the same consultants and associates on assignments, when their skill sets allow, such that continuity of knowledge and experience is maximised. However in the circumstance when the individual is no longer on site we will ensure that direct access/contact can be made for any questions or follow up.

Any issues with quality of work will be prioritised and addressed by the management team as a matter of immediate priority, and in the instance of proven under performance suitable substitutes will be deployed in as timely a manner as possible.

ReportingAs part of the governance process provided by our service we envisage providing you with management information to enable both parties to jointly manage the service. This will include the following:• Financial tracking of actuals and projections• Staff breakdown reporting including utilisation,

type of resource, anticipated duration and performance reviews

• Risks, issues, assumptions and dependencies tracking and management

• Quality assurance reporting• Handover reports where our staff are rolling

onto another work stream and/or other engagement


Our approach – Demand

Effective demand management will be an important consideration in establishing our service to you. This diagram details the varying stages of maturity of capacity planning and we anticipate working with you to develop a tailored Operational Planning Model to ensure that we are best able to meet your needs.

The Operational Planning Model will be closely aligned to your requirements to ensure that the organisation is able to extract the most value out of our service. We will work with you to bring our standard 20 day on boarding period down as our processes mature. As our demand management processes develop, our capacity to implement a more sophisticated managed service increases.

Where possible, we will look to resource staff on successive projects wherever their skills are suitably aligned. We believe this approach allows resources to increase their understanding of your organisation, establish credibility with stakeholders and allows us to efficiently contribute across the spectrum of projects.

Intra-day Resourcing Model• Intra-day planning• Demand matching

Operational Planning Model• Recruitment planning• Resource scheduling• Intra-day planning

Operational Budgeting Model• Financial planning• Activity-based costing

Strategic Planning Model• Operating model evaluation• Business Case development

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Day Week Month Year Multi-year

Demand management: Grant Thornton Capacity Planning Maturity Model


Resource readinessTo ensure effective project delivery from the outset, all of our resources will be project ready upon arrival onsite. Our deep knowledge of firms like yours, combined with our delivery experience across the financial services sector, will allow us to speed up the integration of the resources we provide to you.

All resources being assigned to you, including associates, will be provided with a full-day’s induction, including topics such as: • overview of your firm• overview of the change framework • our methodology and templates• key contacts within Grant Thornton and

your firm• summary of portfolio of current projects.

This will be provided free of charge and means that they will have a good working knowledge to be able to ‘hit the ground running’.

Speed of response/scalabilityWe have a large resource pool available to us with over 500 consultants in the UK plus a wide

associate pool of over 2,500 contractors, who can be resourced on projects as required. We will ensure that the initial demand for staff that have been requested can be easily accommodated, and if demand increases at short notice we are typically able to respond and accommodate this in a timely manner. We have frequently demonstrated our ability to get resources on site and ready to go with only a few days’ notice.

Rapid recruitment (where necessary)In addition to our consultants and associates we are proud to have a proven recruitment process to ensure we are able to provide access to the best people, onboarded in the shortest possible time, with the highest level of cultural fit. Utilising both innovative and proven processes we are able to respond to increased demand expanding our fully integrated team.

Mobilisation checklistPrior to the onboarding of any staff, we have a pre agreed checklist of criteria to ensure all HR and suitable requirements are met. This checklist also ensures that all deployed staff are ‘resource ready’ and as such, provide value to you as quickly as possible.

Our approach – Deployment

Operational Planning: Maturity Model

Sporadic Reactive Proactive Managed Optimised

• Process disorganised, undocumented and in state of change – unstable

• Lack of core capabilities

• Ineffectual insight leading to poor decision making

• Success rare and due to individual capabilities

• Excel used extensively

• Some basic processes in place and repeatable but not consistently and rigorously followed

• Some standards applied

• Outcomes increasingly predictable – stabilised

• MS Project used partially

• Standard PPM processes and standards fully adopted with some improvement

• Increasing accuracy in predicting outcomes

• Improved decision making through improved insight

• SharePoint and collaboration tools

• Project success is high, predictable and consistent

• Process metrics measured

• improved investment decisions and strategic alignment

• Foundation portfolio management capabilities

• PPM tools deployed

• Strategically aligned investments

• Value focused

• Continuous improvement

• Advanced portfolio management capabilities

• Integrated PPM tools and models

Reactive Proactive


Business outcomesGrant Thornton prides itself on our focus on achieving the best possible business outcomes for our clients. You will benefit from our service which is focused on providing business outcomes above and beyond providing a resource pool. This focus will be brought to every project and be embedded in each staff member. Each resource deployed at your firm will have full access to all of our consulting accelerators, tools, enablers and methodologies that a firm like Grant Thornton can provide. We would welcome the opportunity to take responsibility for agreed business outcomes.

DeliveryOur delivery capability is proven and we have a wide range of enablers, training programmes and quality assurance. Each of our staff members will bring the same consultancy based focus to our delivery of quality outcomes as part of our service to you. This also enables us to adapt to your specific requirements rapidly.

We have also developed a resourcing methodology that enables analysts to effectively contribute to successive phases of delivery, including design, build and test facilitating accelerated mobilisation for each phase.

Our oversight and management team will reinforce our individual staff’s dedication to delivering quality outcomes to give you additional peace of mind and assurance.

Accelerated deliveryWith specific reference to project management and business requirements development we have repeatedly delivered in a number of financial services institutions.

We are proactive in our approach to working with stakeholders, and always focus on building strong relationships across our clients. Maintaining our reputation and proven ability to deliver on your programmes is very important to us.

Where desirable, our consulting accelerators, tools and enablers can be utilised to assist delivery. These tools include but are not limited to our:• transformation programme planning

methodology• project management office templates• resource, cost and benefits analysis toolkit• model target operating models• industry and vendor benchmarks• data management and governance framework• regulatory data models• controls heat map and risk register• third party technology providers, including

Erudine and AutoRek

Execution management informationProject management and business analysis and requirements development are highly detailed activities. As such it is critical to maintain an objectivity and perspective on progress and to facilitate efficient issue resolution. As such we ensure that we have regular and effective reporting and management information, typically provided on a weekly basis. We can integrate these into your environment seamlessly.

Our approach – Execution

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Hub

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Financial Benefit Milestones

Major issues or slippage, may delay or reduce Milestone achieved and complete

On schedule / on target, no issuesMinor issues or slippage, will not impact overall

Operational Milestones

Major slippage or dilutionMinor slippage or dilution

Cost incurred

DependenciesOn schedule / on target, no issuesMinor issues or slippage, will not impact overall Major issues or slippage, may delay or reduce Milestone achieved and complete

On schedule / on target, no issues

Assess call volumes and agree Headcount

Agree Customer Service strategy

Telephony implemented for Region 1 (IT)

Telephony implemented for Regions 5 and 6 (IT)

Region 1 Go-live Regions 3 & 4 Go-live

Regions 5 & 6 Go-live


Integrated processes designed

Interim customer service solution developed (IT)

End-state processes implementation

Single phone system (IT)

Go-live of Sales through CS

Single PICARD solution (IT)

Reporting periods for combined business agreed

Integrated KPI reporting implemented (IT)

Combined Finance system go-live (IT)

Single reporting suite (IT)

Centralised cashbook (close all Target accounts)

Communicate structure to staff (HR)

Interim structure implemented (HR)

End-state structure implemented (HR)

Transfer of assets to one company

Pricing for 1 May delivered (Marketing, Sales, IT)

New marketing structure implemented (HR)

2007 Marketing plan signed off

Proposition signed off

Channel strategy implemented (Ops, Sales, IT)

Channel strategy signed off

Launch Phase 1 proposition (Ops, Sales, IT)Launch full proposition (Ops, Sales, IT)

Comms plan signed off

Begin re-branding

Launch sector propositions

Implement new sales force structure (HR)

Implement new processes

Quick sales wins implemented New performance management framework Implement new performance

management framework

Interim CRM solution implemented (IT, Customer Service)

Cross-sales activity initiated

Detailed structure communicated to staff (HR) Structure implemented (HR)

Receive 1 May SORs from all workstreams (All))

Project prioritisation complete Scanners implemented

in Target (Ops)

Agree SLAs with the business (all)

ISO 200 Service Management certification

Co-location of data centre Implementation of new

data centreImplementation of new

Infrastructure

Plans and Financials finalised (All)May 1 Plans finalised

Integration progress reported to the City

Integration Financial ‘run-rate’reported to the City

End state CRM solution implemented (IT, Customer Service)

Telephony implemented for Region 2 (IT)Region 2 Go-live

Redeployment strategy agreedKey employees identified for retention package agreed

RDs’ Assessment CentresSales & Finance Mgrs’

assessment centres

DGMs’ assessment centresSingle HR policies & procedures

Single Payroll processes identified Payroll integration (IT)

Incentive schemes communicatedComplete comms of culture/change

Induction training developed

Agree performance review system HR structure completed

Depot rationalisation plan complete

Begin pilot integration – Bristol & Swindon

Begin Phase 1 depot rationalisation- South West region

Begin Phase 2 depot rationalisation

Complete depot rationalisation(Phase 8)

Integrated label design completed (IT)

New trailers and cages implemented

Coventry hub changes implemented

Implement line haul changes

Integrated International & Ireland operations

Integrated label implemented (IT)

Dynamic Gazetteer updates live (IT)

Major contracts for re-negotiation identified Facilities management

policies implemented

Year 1 Procurement savings realisedSupplier database

completedSupport Services Organisational Design Agreed

HSE full compliance confirmation

Mixed C&D Driver model fully implemented

All sub-contactor vehicles City Link branded

Mixed Driver Model Trial Complete

May 1 Delivered

1 May IT development completed

6 August Ops development completed

Management conference

Org structures for all Workstreams

31 Mar 07 31 Dec 07 31 Mar 0830 Jun 07 30 Sep 07 30 Jun 08

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Skills transfer and trainingOur collaborative approach has always focused upon knowledge transfer between Grant Thornton and our clients. Our consultants are proactive and always willing to ‘go the extra mile’ to ensure a fuller understanding. Furthermore we integrate with your resources to form one team and ensure there is up-skilling and skills transfer via a combination of on-the-job learning, shadowing, a formal buddy system, mentoring and informal training.

Enabling each of our consultants and associates to realise their full potential is critical to the success of our firm. We help and enable each of our staff to take ownership of their career. We have developed a sector training programme for financial services that is available to all of our staff and is divided into the three levels shown below.

Our training programmes will be open to your staff or alternatively we can provide training from our partners at your offices.

Our approach – Handover

Foundation courses• Industry overview• Capability development• Banking sector dynamics

Developments and hot topics• Regulatory challenges• Cost optimisation • Business steering

Technical• Process training: project management,

business analysis, architecture design, target-operating model design, testing etc

• Functional training: finance, risk management, compliance, operations etc

• Toolset training: Excel, Access, SQL, RUP, data management, business intelligence etc


Exit strategyThe exit strategy must be considered and managed during the project and not just at the end. However, assuming a well-managed and planned exit strategy has been pursued this will become an active closure/transition process in the final few weeks.

At the conclusion of our service we will provide you with a report from all the exit interviews of every resource outlining the common themes and lessons learned in providing resources to you. This helps to inform and improve your on-going recruitment approach and ensure you enjoy on-going benefits and further develop your resourcing strategy.

Ideally project deliverables and delivery will be aligned such that there is minimal transition or handover required. However where this has not been possible then the priority focus is upon ensuring that the identified resources who are continuing the work are fully briefed on the work performed to date, to include:• key decisions made and the business rationale• clear identification of those involved in the

decision made• evidence of approvals (ideally confirmation

emails)• details of stakeholders engaged• all documentation that has been prepared with

sign off and approval status clearly highlighted• supporting analysis and documentation• handover notes of outstanding activity.

All documentation will be clearly structured in a central repository/SharePoint site for future reference. In addition time and effort will be made in ensuring a full handover and knowledge transfer has occurred, which will require formal confirmation from the recipient that this has been completed.


How we can make it happenWe can provide a broad range of resource rationalising vendor management under a common governance framework. The resource can range from junior business analysts (BA) with accredited qualifications through to specialist BAs with niche platform experience. Our specialisation is the provision of highly experienced programme and project managers. From an IT perspective we can provide accredited system analysts, specialist testers and technical architects.

We can also approach the provision of our Contingent Labour Managed Service in a number of ways:

Standard serviceThis is where we follow the approach described in this document to provide a resource augmentation solution without directly taking accountability or responsibility for deliverables as a firm. This tier utilises a time and materials charging construct.

Extended serviceThis service is where we take active accountability and responsibility for deliverables, work streams and business outcomes. In addition to simply providing consulting resource, we take an active management role within your organisation to manage the desired business outcomes. This extended service can utilise a number of commercial constructs such as a balanced scorecard or fixed monthly fees with periodic ‘true-up’ to ensure our commercial interests are more fully aligned to your business objectives.

Potential to extend to a full managed serviceIn addition to the standard service, Grant Thornton is able to increase the amount of involvement in selected projects. We can take active accountability and responsibility for deliverables. To enable this we would pre-agree a RACI (responsible, accountable, consulted, informed) construct and would take increased responsibility and ownership of the projects on your behalf and be involved in assisting you on actively leading the programme of work and reporting into your overall governance processes.

To perform this role project priority and success criteria would be agreed with your change management teams and project sponsors. The delivery would then be planned and managed to ensure successful achievement of the criteria and ensure that the focus remains on the desired business outcomes.

Key performance indicators (KPIs) could be chosen to create a balanced scorecard, and variable fees could be dependent on such KPIs. Examples of these include:• timeliness of delivery• quality of deliverables• sign-off• value-added insights• long-term capability development


Enhanced commercial arrangementsThis extended service can utilise a number of commercial constructs such as a balanced scorecard or fixed monthly fees with ‘true-up’ and requires agreed KPIs, management constructs and SLAs to be agreed.

Depending on your appetite, given appropriate scale and tax-efficient constructs, it is also possible to pass on significant tax savings too.

Services provided in the UK would normally be liable to a UK VAT charge of 20%. With the support of our finance and VAT advisory teams we could work with you to develop a supply structure which minimises the sales tax cost. In doing so we can adopt a flexible approach, including the creation of specifically designed vehicles dedicated to you. Our advisory teams have worked with many clients seeking to minimise the tax impact on UK and global outsourcing contracts.

Awards

Best Tax Team in a National Firm National Employer Solutions

LexisNexis Awards 2012

Best International Tax Team Large Corporate & International Tax, LexisNexis Awards 2012

Ranked most active corporate finance adviser 2012

(Thomson Reuters Small Cap)

Corporate Finance Adviser of the Year ACQ Global

Awards 2012

International Accounting Bulletin Network of the Year 2013

Private Client Practitioner Top 25 Most Admired Companies

2012, 2011, 2010

UK Leading Deal Maker Acquisition International M&A

Awards 2012

Ranked number one corporate finance adviser in the UK

(Source: Experian Corpfin 2011)

Corporate Financier of the Year 2012 unquote British Private

Equity Awards

No.1 auditor of AIM companies and the leading independent

nominated adviser to AIM


Grant Thornton UK LLP• UK member firm of Grant Thornton

International Limited

• Turnover of £471 million

• Led by over 200 partners, with 4,400 people

• Operates from 25 officesGrant Thornton International Ltd

• One of the world’s leading organisations of independently assurance, tax and advisory firms

• Combined turnover of $4.2 billion

• Over 35,000 people based in over 100 countries

About Grant Thornton


Grant Thornton’s multi-disciplinary Financial Services Group uses its deep knowledge of the sector to provide robust, independent and professional advice on today’s most important issues.

About usGrant Thornton’s Financial Services Group (FSG) is a market-focused financial advisory and assurance practice, concentrated on delivering unbeatable client service. Be it a major issue, a complex problem, an unforeseen crisis or just a straightforward technicality, we are there to guide you through it.

We align our core competencies to established industry challenges, ensuring the services we offer match the problems our clients face. We select our teams from a large pool of industry specialists to align subject matter expertise to the issue at hand. Furthermore, we are able to supplement our delivery capability by leveraging our professional service teams, including Regulatory Advisory, Forensic Investigations and Data Analysis, Risk Management, Business Consulting and Information Technology.

Our track record is proven and testament to our delivery capability. We have over 200 clients in the financial services sector, most of which are repeat customers, that benefit from our value-add engagements that have a lasting legacy.

Collaborative approach, quantitative outputWe bring proven methodologies and processes which have been employed successfully across the industry and, where necessary, we adapt them accordingly. We adopt a highly collaborative approach, with a focus on: • Accountability – establishing buy-in and

ownership from all parties to ensure we deliver genuine business benefits

• Quantitative outputs – our methodologies are driven by thorough analysis and formulaic assessment to deliver genuinely useable outputs

• Efficiency – we are nimble, deploying teams which allow us to react quickly to change

• Sustainability – all our deliverables offer long-term benefits and we conduct a thorough handover of all knowledge capital.

Financial Services Group


Grant Thornton can help you assess and improve how technology enables the business in an effective and efficient manner.

How we can helpIT process transformation• Enhance the value of the IT portfolio throughout

a transformation or transaction. Services include assessing the current environment, defining the target operating model and executing the transformation or integration program

IT strategy• Establish a business-driven vision and strategy

for IT systems, processes and infrastructure. Services include IT strategy and roadmap development and application portfolio planning and management

IT sourcing• Implement an IT sourcing model by which an

organization procures IT goods and services in accordance with its strategic objectives, while simultaneously aligning its retained IT organization to extract value out of the new sourcing model

Enterprise architecture • As technology becomes increasingly critical in

delivering competitive advantage in Financial Services, developing the right solution and end-to-end architecture becomes increasingly important. We provide our clients with relevant industry expertise, prior hands-on experience of the key packages, and the necessary insight, judgement and objectivity so that we provide the best advice

Infrastructure and operations• Help you manage and operate IT effectively

and efficiently to get the most from technology investments. Services include IT process maturity assessments, control-driven process improvement, data-center consolidation planning, business continuity planning and advisory services on project management life cycle (PMLC), software development life cycle (SDLC) and IT controls

CIO Advisory

Your objectives• Simplify the IT environment to support a growth agenda• Improve business value delivery with globally

standardised, integrated IT services• Package and measure IT services in business terms• Drive efficiencies through a renewed focus on

operational discipline• Provide greater visibility into critical business systems

and infrastructure • Translate complex business problems into implementable

technology solutions


Grant Thornton has developed a range of proven methodologies, tools, enablers and accelerators that can be used to assist clients.

Model Bank and Model InsurerFunctional decomposition of an institution to facilitate mutually-exclusive and comprehensively exhaustive analysis and mapping

Model operating modelsTo accelerate target operating model (TOM) design, planning and cost tracking

Industry and Vendor Benchmarking DataFunctional and operational performance indicators benchmarked against competitors and/or peer groups

Transformation Programme Planning Detailed change methodology based on Prince2

Project Portfolio Management PMO tools to assess, prioritise and monitor projects across the organisation, including financials, risks, issues, assumptions and dependencies

Resource, Cost and Benefits AnalysisDefining financial and operational targets of transformation effort

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Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 10Activity 14-May 21-May 28-May 04-Jun 11-Jun 18-Jun 25-Jun 02-Jul 09-Jul 16-Jul

Steering group meetings ▲ ▲ ▲ ▲ ▲Programme updates ▲ ▲ ▲ ▲ ▲ ▲ ▲ ▲ ▲ ▲

2.0 Operational Efficiency2.1 Cost base analysis

Collate existing cost and headcount data ▲Management interviews ▲Cost allocation review and challenge ▲Key cost driver analysis ▲Develop cost base output ▲Identify cost reduction opportunities ▲Overlay cost and headcount analysis with process mapping ▲Cost reduction recommendations ▲

2.2 Process analysis and opportunityComponent Model definition ▲Core process definition - Level 0 ▲End-to-end Process Analysis - Level 1 ▲Process improvement recommendations ▲

2.3 Technology FootprintManagement interviews ▲Application walkthrough ▲Service process walkthroughs ▲Cost / efficiency assessment ▲Process/ systems requirements mapping ▲

▲2.4 Software Business Assessment

Management interviews ▲Product walkthrough ▲Software delivery process review ▲Cost base lining - per product ▲Scenario analysis based on commercial input

▲

Phase 1 Phase 2 Phase 3Project Portfolio Summary 20/07/2012

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PM Start_

date

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omp_

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Fore

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Comp_

Date

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ory

Sta

tus

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ase

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/Ext

ern

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Comments

1 Global salesforce enforcement as CRM tool

CD 7/30/12 7/30/13 7/30/13 Mkting On-hold 1 E 1 Comment 1

2 Standardized project and time tracking IJ 7/30/12 7/30/13 7/30/13 Other Active 5 E 2 Comment 2

3 Data warehouse / reporting architecture GH 7/30/12 7/30/13 7/30/13 IT Active 2 I 3 Comment 3

4 Corporate Reporting Standardisation GH 7/30/12 7/30/13 7/30/13 Quality Active 1 I 2 Comment 4

5 e-File Checking Automation CD 7/30/12 7/30/13 7/30/13 IT Active 2 I 1 Comment 5

6 Back office / Financial improvements IJ 7/30/12 7/30/13 7/30/13 IT Active 3 I 2 Comment 6

7 Agent led growth plan GH 7/30/12 7/30/13 7/30/13 Sales On-hold 4 E 3 Comment 7

8 Productised corporate services offering EF 1/8/12 7/30/13 7/30/13 Sales Active 5 I 2 Comment 8

9 Immediate corporate software upgrade CD 1/9/12 7/30/13 7/30/13 IT Active 4 I 1 Comment 9

10 Low cost S/Med selling proposition IJ 1/10/12 7/30/13 7/30/13 Mkting Active 3 I 3 Comment 10

11 Project 11 GH 1/11/09 3/11/09 3/11/09 Cust A Active 3 E 2 Comment 11

12 Project 12 GH 1/12/09 3/12/09 3/12/09 Cust B Active 3 E 1 Comment 12

13 Project 13 CD 1/13/09 3/13/09 3/13/09 IT Active 2 I 1 Comment 13

14 Project 14 KL 1/14/09 3/14/09 3/14/09 Fac Active 1 I 1 Comment 14

15 Project 15 KL 1/15/09 3/15/09 3/15/09 Mkting Active 1 I 3 Comment 15

16 Project 16 CD 1/16/09 3/16/09 3/16/09 Mkting On-hold 2 I 3 Comment 16

17 Project 17 CD 1/17/09 3/17/09 3/17/09 Cust A Active 1 E 3 Comment 17

Business-take-on (BTO)

Client Service Centers (CSC)

Managed Services

(MSS) Data Entry

Supplier Compliance

(SC)

Systems Integration

Business Support

15 43 54 42 15 18 FTE's

£738k £1,802k £3,002k £1,060k £162k £926k Employment costs

£0k £0k £0k £0k £0k £0k Contractor costs

£33k £172k £561k £63k £38k £834k Non-Employment costs

£771k £1,974k £3,563k £1,123k £199k £1,761k Total costs

Labour Arbitrage BTO CSC MSS SC Sys. Int Bus Sup.Labour Arbitrage (India) Maybe Yes Yes Yes Maybe

Delivery Efficiency BTO CSC MSS SC Sys. Int Bus Sup.Increase of span of control Yes Yes Maybe YesReduce manual data input Yes Yes Maybe Yes

Reduce master data rew ork Yes Yes YesReduce hand-offs Maybe Yes Yes Yes Maybe

Improve capacity planning Yes Maybe Yes Yes MaybeIncrease multi skilling Maybe Maybe Maybe Yes Maybe

Improve performance measurement Yes Yes Yes Yes Yes YesBusiness Simplification BTO CSC MSS SC Sys. Int Bus Sup.

Increase service simplif ication Yes Yes Yes Yes Yes YesIntroduce/increase automated rules Yes Maybe Yes Yes Yes

Consolidation of duplicated activities Yes Yes YesQuality control optimisation Maybe Yes Yes Yes MaybeImprove Systems Reliability Maybe

Service consolidation / aggregationIT Automation / IT Footprint Enhancements BTO CSC MSS SC Sys. Int Bus Sup.

Project Veritas / case verif ication Yes Yes YesYes Yes Yes YesYes Yes Yes

TM1 replacementStandardized time tracking (Replicon) Yes

Integration of FIP w ith Inprotech / MemotechGlobal salesforce enforcement as CRM tool

e-billing (e.g. Serengeti or other) Yes Yes

Direct Debit: direct agent / PTO payment YesData Governance / Data model changes Yes Yes Yes Yes YesData w arehouse / reporting architecture

PRS enhancement / Rebuild Yes Yes Yes Yes Yes

ECM replacement

Patent Renewals

Employment costs

Methodologies, tools, enablers and accelerators


Data ProfilingExperience of a range of tools including Trillium to profile data from both a business and technical viewpoint

Analytics and Business IntelligenceWe are Oracle Hyperion Essbase specialists with capabilities globally, however we have experience in a range of other tools including Spotfire

Data Quality ManagementOur proven DQ framework covers all aspects of establishing, embedding and maintaining effective information management

Development We specialise in building analytic models and integrating with and/or building related reporting and workflow tools. C#, Java, Java script, SQL, Perl & XML are focus areas

TestingWe have a proven set of tools to ensure test definition, requirements traceability, non-functional testing, test governance and test management are completed to the highest standards

Hosting and Post go-live supportWe partner with a leading provider of hosting services to offer cloud hosting, managed hosting and private clouds at unbeatable service levels at the most competitive rates

Identify Risk

Validate Risk

Identify Owner

Assign Responsibility

Review Mitigation

Recommend Mitigation

Approve

Mitigate

SatisfiedMonitorDetermine Alternative Mitigation

Verify Mitigation

Close

Yes

Escalate

No

Review & Modify

Mitigation

Yes

No

Monitor Escalate

Operational committee

Steering Committee

No

Yes

1. Escalation includes if the Risk has materialized and a contingency plan is warranted, as well as the aging process

1

Tool

Record risk description

Update and record status

Monitor

Monitor

Update and record status

Monitor

No

Yes

TEA

MPr

ojec

t Man

ager

Prog

ram

Man

ager

Accept

No

Determine H/M/L

Run the Risk

Yes

Cyber Security benchmarkingAssessment Matrix for benchmarking against industry standards such as ISO 27002, ISF, NIST

Heat MapsAssess the cyber security risks and determine the impact of those risks to the organisation. The heat map defines the priority for the organisation to mitigate the key risks

Risk RegisterWe have an extensive operational risk register that can be used to test, augment or create control functions and MI

Regulatory data element mapsBCBS239, Finrep, Corep, CCAR, FDSF, EMIR, Mifid2… we have cross referenced an idealised data model to each regulation, and have the ability to quickly assess your data models

Methodologies, tools, enablers and accelerators


Large scale managed service provided to a government agency

Grant Thornton is leading the Government and EU backed managed service aimed at assisting dynamic high growth Small and Medium sized enterprises (SMEs). Titled Growth Accelerator (www.growthaccelerator.com) Grant Thornton runs the service that has over 8,000 companies signed up to receive services from over 1,000 experienced professionals. Grant Thornton provides the various levels of expertise but also manages the overall interactions between the client companies and the advisors.

The Outcomes

Grant Thornton has provided numerous advisors across the managed service:

• Business Development expertise that works with the business owners and boards to challenge their working processes and help and support them with aspects of their risk

• Access to Finance advisors that work with companies to finance their growth ambitions, whether getting their business plans in order, helping them pitch or connecting them to sources of funding (traditional and alternative)

• Through 1-2-1 coaching we focus on the business owners and provide the support and challenge they need to drive their business and personal objectives, while Grant Thornton ensure they are financially in a position to achieve their ambitions

• Through innovation and business development coaching companies can take a step back from their business and ensure they are as efficient as possible, ensuring that they get more out of less to help realise their growth ambitions

• Using leadership and management matched funding to train and support the management teams and empower them to support their workforce they can win the talent battle and achieve their growth ambitions

• Using coaching we are able to offer another layer of challenge and support to SMEs from coaches who have real experience in their sector or with a particular business challenge and are able to coach them through to help achieve their growth ambitions, while we work alongside them

Client name: GrowthAccelerator

Case study

Government and EU backed provider of managed services (2014)

“Businesses are growing over 4x faster with the help of GrowthAccelerator.”

“Research shows 97% of participants would recommend GrowthAccelerator.”


BankingTier 1 Global Bank• Establish a change function responsible for all people,

process and systems change within the ‘bad bank’ entity which covered risk management, finance and operations

Universal Global Bank• KYC/AML impact assessment for the Retail and Corporate

Bank. Design and build out of global KYC Utility

Large UK Bank• Project management and implementation of PEGA as a

credit decisioning workflow tool

Tier 1 Global Bank• Strategy, planning and programme management of a mixed

client and consulting team to transform the banks risk, finance and treasury systems and processes. The solution used Oracle OFSA

Tier 1 Global Bank• Implementation of a group IT risk reporting function.

Development of a control framework, alignment of IT policy and standards, and development of an IT risk reporting dashboard

Asset and Wealth ManagementHedge Fund and Asset Manager• Risk Transformation and P&L Explain change management

including technical architecture, vendor assessment & package configuration and test management

Global Asset Manager• Provide the client with the ability to continually monitor

their fund manager’s actions by creating side-by-side analysis. This was achieved by reviewing current processes and creating an analytic tool to monitor and manage portfolio managers

Capital MarketsTier 1 EU Bank• Full lifecycle Risk & Finance integration across two

merging banks, covering all market, credit and liquidity risk systems and reference data migrations

Tier 1 US Investment Bank• Basel II programme management throughout full-life

cycle including architecture design and operating model & process change

Tier 1 Japanese Brokerage• Self-Assessment and subsequent project management

and delivery of remediation activities for BCBS239. The principles for effective risk data aggregation and risk reporting

UK Bank• Project rescue and delivery of the e-trading platform

‘Reuters Electronic Trading MarketsLink’, for FX Spot, Forwards, Swaps & Options and Money Market Deposits

InsuranceLarge UK Insurer• Led the Risk technology stream of the assurance review

in relation to regulatory concerns. Conducted managing director and C-suite interviews to ascertain current state issues and provide target state recommendations. Key recommendations covered regulatory compliance, cost optimisation and business steering dimensions

Global Insurer• Improved the user experience for accessing and managing

unstructured data, while reducing the complexity and inherent risk presented by sensitive, unstructured data at rest

We have over 200 repeat customers from all sectors of the financial services industry. Select credentials are detailed below:

Credentials

© 2014 Grant Thornton UK LLP. All rights reserved.

‘Grant Thornton’ refers to the brand under which the Grant Thornton member firms provide assurance, tax and advisory services to their clients and/or refers to one or more member firms, as the context requires.

Grant Thornton UK LLP is a member firm of Grant Thornton International Ltd (GTIL). GTIL and the member firms are not a worldwide partnership. GTIL and each member firm is a separate legal entity. Services are delivered by the member firms. GTIL does not provide services to clients. GTIL and its member firms are not agents of, and do not obligate, one another and are not liable for one another’s acts or omissions.

This publication has been prepared only as a guide. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material in this publication.

grant-thornton.co.uk

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Derek TaylorPartner – Financial Services AdvisoryT +44 (0)20 7865 2800 E [email protected]

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