Client:
Brokerage subsidiary of consumer bank

Engagement:
Client had made a decision to change clearing services provider. Our role was to establish a Program Management Office (PMO) to identify and track projects that would evolve from this decision.

Deliverable:
A team of client staff representing impacted departments was assembled under our direction. Projects and associated tasks and schedules were determined and assigned to projects teams. We provided oversight, advice and direction to the individual project teams as required. Much of our focus was coordination of cross project activities and problem resolution.

As part of our PMO responsibility, we aggregated and reported on the individual projects status and schedules to senior management. Individual projects included:

• Analysis, evaluation and selection of new clearing firm
• Interface requirements for internet order entry, order management system, general ledger and firm reporting systems
• Preparation for change of services such as maintenance of activity, ad-hoc reporting and daily down-loads
• Technology issues, including interface to bank’s ATM system for inquiry and order entry
• Development of new internet client information and order entry system

Result:
Conversion to the new clearing services provider was completed in nine months from onset, including three internal system development efforts. Clearing costs were reduced 35% as a result of this change. Enhanced internet capabilities increased new business by 15% during economic downturn.

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