Institutional Technology Group of Financial Services Institution
Develop Short-term and 3-year Strategies
- The technology group responsible for supporting the Rates, Risk Treasury and Finance desks of the Institutional division needed to develop a strategy that would result in initially aligning with and ultimately surpassing competitors in key market areas.
- We were engaged to manage the overall process for developing a short-term/full-year and long-term/3-year strategic roadmap.
- Our responsibilities included producing a competitive analysis to confirm group’s current status against industry leaders and opportunities for improvement in the marketplace.
- Developed a comprehensive matrix of key initiatives against business priorities.
- Documented current state and future state processes which resulted in identifying gaps that required resolution in order implement key initiatives.
- Facilitated workshop sessions which provided a forum for key personnel within the Technology group to confirm key initiatives, discuss risks and issues, determine potential dependencies and address resourcing needs.
- Created a competitive analysis that self assessed performance by product by region by function against industry standards and benchmarks.
- Formalized monthly forum whereby representatives from business and technology would meet to confirm agreement on key initiatives and discuss resolution of resourcing issues/needs. This forum was preempted each month by a series of working group meetings consisting of business and technology personnel discussing items related to specific functional areas.
- Developed process to track outstanding issues/action items to completion and created an escalation process to ensure that outstanding items critical to completion of strategy were addressed in a timely manner.
- Documented and confirmed with business and technology, a 3-year strategic roadmap that aimed at improving the company’s position in the marketplace.
- Established formalized processes for initial prioritization of key initiatives, reviewing progress against the strategic roadmaps and reconfirming project portfolio.
- Created key criteria and activities for reviewing and updating the competitive analysis on a regularly scheduled basis.