Cases

Implementing processes for an Asset Management Company

Background and Challenge

The client, an Asset Management Company (AMC) is a subsidiary of an international financial services institution. UC had conducted a study to design the processes for their operations 2 years ago. As part of its growth strategy, the AMC had partnered with two leading private banks. In light of the changed environment, top management sought assistance in redefining and implementing the following:

  • Standard Operating Procedures for all processes
  • MIS reporting of all key processes
  • Cost cutting initiatives

Approach and Recommendations

To implement processes, UC adopted the following approach:

  • Interviewed key personnel to understand all processes

    1) Analysed gaps, weaknesses in the process, interdepartmental issues

    2) Communication gaps between branches and HO

  • Defined Standard Operating Procedures including exception reporting for the following:

    1) Front-end processes: Sales, marketing and CRM processes

    2) Back-end processes: Transaction processing, treasury, custody and fund accounting

    3) Other processes: Payments processing, compliance etc.

  • Implemented all processes defined, eliminated gaps/ weakness, improved interdepartmental co-ordination and general efficiency levels within the organisation
  • Monitored efficiency of all key activities post implementation
  • Defined and implemented key MIS formats with corresponding frequency of generation and monitored implementation of the same
  • Recommended cost cutting initiatives and initiated quick wins

Results

UC implemented all the key processes that led to improved organisation alignment and efficiency. The client also received cost cutting initiatives to further improve efficiency.