In today’s global financial services market, strong and effective project management is critical. The ability to successfully manage risk while delivering business value is essential, and emphasizes the importance of high-quality governance and business controls.
TwoFour Consulting recognizes the challenges our clients face in managing a complex portfolio of technology-related projects across the organization. We offer a selection of services designed to reduce operational risk and ensure successful project delivery, ongoing quality and compliance with regulatory requirements.
Project Management Office (PMO) Services
Objective: Establish a sustainable support structure for ongoing, successful project delivery.
Client Profile: For organizations managing a complex project portfolio and looking to maximize project delivery success rates.
Approach: A well-coordinated Project Management Office (PMO) is essential when managing a complex portfolio of projects. An effective PMO can boost departmental efficiency and deliver a steady stream of cost-effective, high quality IT services.
We can help your organization establish and run a central PMO, or can restructure an existing PMO to deliver measurably greater value. Our experienced consultants work collaboratively to implement PMO methodologies and define organization-specific processes and interfaces that ensure a continual review of project priorities and resource allocation. The result is a sustainable environment for achieving superior project results.
We offer co-management of ongoing PMO operations on an interim basis in order to transfer knowledge and effectively empower internal resources.
Software Development Lifecycle (SDLC) System Deployment
Objective: Improve delivery management capabilities in order to increase project implementation success rates and system effectiveness.
Client Profile: For organizations deploying IT systems and looking to reduce implementation costs and timeframes through better delivery management.
Approach: Software Development Lifecycle (SDLC) methodologies support on-time, on-budget, on-‘functional scope’ project delivery. A well-established SDLC will save an organization valuable time and improve return on investment.
Our software development experts work with proven methodologies, ranging from Waterfall to Agile, to manage application development projects. Our exclusive focus on financial services ensures the most effective SDLC implementation.
We can partner with your IT department to introduce SDLC controls and methodologies for enhancing internal project delivery, and establish appropriate interfaces to the PMO.
Quality Management System (QMS) Deployment
Objective: Improve overall product and service delivery in a tangible and sustainable way, while reducing associated costs and overhead.
Client Profile: For organizations seeking to optimize key processes related to existing or new product and service delivery.
Approach: Quality Management Systems (QMS) streamline core business processes and practices for product and service delivery, raising quality levels and increasing potential throughput.
Our business consultants work with proven QMS methodologies, including ISO9000, Six Sigma’s Design for Six Sigma (DFSS) and DMADV (Define – Measure – Analyze – Design – Verify) Methodologies, and the Capability Maturity Model (CMM). We can select and implement the right QMS for your organization, and draw on our expertise to help (re)design key operational processes within the system.
Regulatory Compliance Design
Objective: Reduce organizational overhead associated with (changing) regulatory demands and embed compliancy practices into product and service delivery lifecycles.
Client Profile: For organizations seeking more efficient and cost-effective ways to meet regulatory requirements.
Approach: Increasing regulatory requirements have resulted in the need for stricter workflow compliance and greater data and transaction automation. Shareholders and other stakeholders looking to reduce risk have driven a corresponding demand for more transparency.
We can help your organization identify ways to more efficiently and cost-effectively manage operational risk and meet regulatory and stakeholder requirements. Following an assessment of current processes, our consultants will deliver a recommendation for streamlining compliance efforts.
We will work with you to implement new operational practices and systems, enhancing compliance in addition to overall effectiveness.
Dodd-Frank Technology & Data Compliance
Objective: Ensure client’s trading, reporting, data warehouse systems comply with the extensive requirements of the Dodd-Frank regulations.
Client Profile: For broker-dealers, hedge funds and investment firms looking to lessen the potential disruption of Dodd-Frank and identify competitive advantages by acting early to analyze their data, systems and business processes in light of the legislation and the evolving rules and regulations.
Approach: Financial institutions can ensure compliance of Dodd-Frank by evaluating and enhancing their systems and data based on the regulations and the evolving rules being issued by the SEC, CFTC and Financial Stability Oversight Board (FSOB) and the Office of Financial Research (OFR).
A number of Dodd-Frank’s 16 titles have a direct impact on many financial institutions systems and on the flow of data through those systems. Data will require extensive analysis and system enhancements will need to be implemented over the next several years. Of Dodd-Frank’s 16 titles, TwoFour has identified 4 titles and 4 resulting areas where our extensive financial services consulting experience can help our clients achieve compliance:
- Messaging/Connectivity: Enhance messaging gateways between internal trading and operational systems and multiple Swap Execution Facilities (SEFs)
- Data Warehousing: improve the master reference data and normal data across front, middle and back office systems to allow for regulatory reporting and risk management.
- Business Analytics and Decision Support: Develop standard and ad-hoc reporting, analytics and decision support for risk management, compliance, reconciliation and surveillance.
- Automated Workflow: Analyze, design and automate new workflows for straight through processing, compliance, issue tracking and management.
TwoFour Dodd-Frank 364 KB
Reporting and Controls
Objective: Provide clearer insight into business performance and operational direction.
Client Profile: For organizations wanting to gain more insight into operational performance in order to make better informed business decisions.
Approach: Organizations typically operate in complex environments where multiple people and systems are involved in completing a single transaction or process flow, making it difficult to manage, control and maintain transparency.
We are experienced in creating flexible and comprehensive reporting and control mechanisms that span underlying applications, people and processes. Our consultants can help your organization implement tools to access and view operational data essential for effective management and regulatory compliance. By taking a comprehensive approach to reporting and controls, we deliver deeper insight into current business performance and provide the basis for sound decision-making.
Metrics and Measures
Objective: Drive tangible and measurable performance by establishing organization-specific business indicators.
Client Profile: For organizations looking to enhance decision-making by using up-to-the-minute operational data.
Approach: We work with our clients to transform unprocessed data into tangible, measurable and actionable information. We provide the insight and sector expertise necessary to benchmark and measure data against industry and corporate norms.
Objective: To ensure that management controls within a firm’s IT organization are safeguarding assets, maintaining data integrity, and operating effectively to achieve business objectives and goals.
Client Profile: For organizations requiring consulting resources, TwoFour can help in the following areas:
- Application Audit and Controls Review
- Technology Infrastructure Audit
- IT Governance Audit
- Data Analysis/Data Analytics
- CAATTs/Continuous Audit
Approach: We partner with your IT department to assess the overall technology control environment in order to minimize risk to your IT applications and infrastructure. Our consultants combine strong backgrounds in capital markets with IT audit expertise.
We partner with your IT department to help with development processes, IT governance and oversight, security protocols and data analytics and general controls review.
IT Strategy Development
Objective: Establish a clear path for successful long-term delivery of all IT projects and services.
Client Profile: For organizations introducing new technology, updating IT support systems to deal with changing business dynamics or looking for longer-term clarity concerning IT direction and expenditure.
Approach: Drawing on our deep sector expertise, insightful analysis and industry best practice, we help to align technology and processes with overall corporate goals to create a comprehensive IT strategy.
Through a mixture of workshops, stakeholder interviews, workflow analysis and future state mapping we deliver an IT roadmap for the coming years, including program, project and resource planning, budgeting, risk management and contingency plans. Together, we define and establish a clear path for long-term success.
Strategic Alignment Blueprint
Objective: Successfully reestablish cohesion between long-term IT services delivery and business needs.
Client Profile: For organizations whose IT planning is no longer in sync with overall business direction.
Approach: Shifting industry dynamics, new leadership priorities and evolving client demands necessitate continual reevaluation of corporate strategies. We partner with our clients to drive rapid realignment of in-flight IT strategies that have become disconnected from overall business goals.
Using a structured approach of facilitated workshop sessions and stakeholder interviews, our business consultants work to achieve a shared business and IT vision across the organization. We deliver a comprehensive IT roadmap and action plan for strategic convergence.