Institutional Technology Group of Financial Services Institution

Develop Short-term and 3-year Strategies

Client Challenge

  • 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.

Our Approach

  • 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.

Solution/Client Benefit

  • 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.

Gartland & Mellina Group — A Management Consulting Company