Xcina Case Study

Implementing change for UK-based Global Asset Manager

The client

UK Based Global Asset Manager

The work

Our Client engaged us at short notice because of staff changes, to identify an experienced Change Manager with an Asset Management background, to take stock of their overall change process, advance it to the next level and move the Client’s change agenda forward.

How we helped

We engaged with senior stakeholders to define the requirements into (1) a skill set requirement map which would deliver and (2) an agenda of deliverables. At a high level, this consisted of a mixture of managing regulatory projects including MiFID2 and PRIIPs, as well as increasing the bench-strength of Business Administration Reporting. The regulatory projects succeeded by breaking down the substantial volume of requirements into logical workstreams. Regular meetings were held involving detailed planning beforehand, developing and allocating robust actions fairly, and rigorous stakeholder engagement prior to reporting to the Steering Committee. Workstreams actions were drawn from MiFID guidelines and included, amongst other requirements, Costs and Charges, Governance, Policies and Procedures and Inducements. Key stakeholders were satisfied that Critical Success Criteria were met and that a clear roadmap had been provided for the Client to complete the remaining improvements. Business Administration Reporting was an exercise in evolving an ad-hoc change reporting activity into a formal monthly process designed to capture all forms of Change across the Company. This included department-led initiatives, leading to a transparent set of individual project updates, with verbal updates as necessary at Business Administration Committee meetings. The reporting drew out key themes to assist Senior Management in evolving the Client’s Risk Appetite, and enhancing its Risk Culture. Extracts from this Administration Committees reporting are now used for supplying updates to other Committees e.g. audit as well as Fund Boards.

Value added

By engaging with different levels within the Client organisation, the efficiency of transitioning major programmes from vision to planning, Client approval and implementation was vastly increased. Recommending that the majority of the projects headcount requirements were resourced from the business, the Client benefited with substantial cost savings. By only supplying expert consultants to guide the Client staff, the post-live transition to business as usual was also made more effective. Strengthening the Business Administration Committee provided the Client with a scalable platform for managing Corporate Change, and offering improved Governance and transparency across the organisation.

Industry and sector:

Financial Services

Solutions and service area:

What our clients say

"Xcina is always responsive to any question we have during the time we are implementing data protection remediation activities, they keep us informed and understand what we need and what we’re trying to do. "

Getac Technology Corp, Legal Affairs Center

"Xcina is always responsive to any question we have during the time we are implementing data protection remediation activities, they keep us informed and understand what we need and what we’re trying to do."

ParkMobileUK, Managing Director

"Xcina Consulting performed an annual review of our card data environment, and ensured that we are compliant with the PCI-DSS. We continue to work with their experienced QSAs, leveraging their guidance and best practices so we have the highest possible level of security controls in place."

DKB Brands, Data Protection Officer

"Xcina really helped us to kick start our data protection compliance process. They took the time to speak to all departments of the business and outlined our highest risk to lowest risk areas. The insight and guidance they provided was essential for our business to become GDPR compliant."

Portman Settled Estates Limited, Estate Secretary

"Xcina’s ongoing support has ensured that our employees feel confident when dealing with data protection matters, with best practice knowledge and expertise from consultants who have taken the time to get to know our business and our industry."

National Bank of Kuwait, Compliance Officer

"Xcina worked with us on a number of data protection matters, including subject access requests and gave helpful, practical advice which reflected their understanding of technology issues as well as legal matters."

Your World Recruitment, Group IT Director

"We have worked with with Xcina successfully for two years, initially on internal GDPR GAP analysis. We now have them engaged as our ‘Virtual DPO’ provider and regularly receive useful, pragmatic and, more importantly, actionable advice on all areas of Data Protection."

Quadrangle Research, Group Chief Operating Officer

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