Banks are required to comply with the FRTB regulations by 2019. In 2016, the regulations were still developing and our client had launched a simplification programme, with the FRTB project given the highest priority. Risk, as business sponsors, wanted to accelerate the pace of delivery. A new permanent Head of Strategic Projects had been hired but was due to start in three months. Following a decision to adopt an Agile methodology, a re-structuring of the project was required and given the large scope of change and tight deadlines, they needed help to coordinate, communicate and implement the new approach as quickly as possible.
What We Did
Our client, a leading UK Investment and Retail Financial Services firm, faced numerous challenges around vendor governance, policies and process alongside a wider remit to reduce overall spending on IT by 20-30%.
Over time our client had reduced operational management and resourcing of the software estate. Outsourcing strategies had led to a dilution of accountability for software asset management within the firm and across the key supplier base.
Outcome & Results
TORI was engaged to undertake a strategic high-level review of the software asset management estate and supporting processes.