Client: A Global Leader in Investment Management with AUM of $240 Billion

  • Client Need: An immediate need for a team of rule writing and business analysis experts in the compliance testing space experienced with vendors who offer trading and compliance solutions as a hosted cloud-based Software-as-a-Service (SaaS).
     
  • Why IMP Was Chosen: IMP has an expert understanding of the client’s existing order management and compliance system as well as a proven testing methodology to support converting from in-house vendor based systems to a SaaS model.
     
  • IMP Solution: IMP assembled an immediate team to deploy on-site and work directly with both vendor and client, off-loading much valuable time and energy from the compliance front office.  By leveraging IMP, the compliance front office could continue with their critical day to day tasks while IMP took responsibility for all unit testing, use case testing, reporting, and compliance workflows. 

    The unique challenges of this project included the complexity of the rule types being coded and the differences in technology and workflows between the new and old systems.  As a hosted compliance solution, there is also little transparency into the process of how things are designed, developed, and implemented. With IMP's decades of combined experience working with and for vendors, that transparency gap was tightened, ultimately leading to better vendor accountability, a better product, and ultimately a quality implementation.
     
  • Outcome: From day one, IMP’s compliance and testing expertise provided the client with a clear assessment of the current state of the project, as well as the future path. As a result of this engagement, IMP was able to catch a significant amount of mis-configured rules and gaps in the system. By resolving these issues with product enhancements and better defined workflows, IMP helped mitigate the risk of future trade errors and manual processes on the system.  As a result the go-live was a success.

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