Markets
Technology
& Compliance
Project Brief
Regulatory Program Management
Legal and Compliance Data Warehouse PMO
A major diversified financial services firm commenced an aggressive program to enable unified data acquisition and management capability for legal, compliance, and reporting functions across all major business lines, including broker-dealer, retail brokerage, and wealth management. The program needed a Program Management Office (“PMO”) to define and operate a structured program.
Approach
A Markets Technology & Compliance consultant established a PMO to define and organize multiple initiatives under a single coordinated program. During the engagement, we:
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Compiled and prioritized various projects under the data warehousing initiative, including solution architecture, warehouse schema and master data definition, data source identification, data quality analysis, extraction and translation, staging requirements.
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Assessed relative business priorities and dependencies, including related compliance application development initiatives which would compete for program resources
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Defined a Program Operating Model and budget management processes
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Created a PMO projects tracking and reporting solution on SharePoint
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Defined reporting needs at the project and program levels
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Ran weekly project leads communications and issues tracking
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Held bi-weekly executive communications sessions
Additional staff was added to the PMO as the number of initiatives grew, and our efforts continued until the PMO had established an operating rhythm which could be adopted by client staff.
Results
The structure provided the initiative through the PMO enabled the program to gain momentum, and work through potential program barriers such as historical data ownership and balancing operating scale and efficiency with immediate data access. The data warehousing initiative has since flourished and is supporting analytical and compliance models at reduced cost and improved efficiency.