Implementing new market abuse & conduct surveillance operating model for global bank

Key challenges
  • > False positive alerts overwhelming workforce
  • > Siloed existing IT solutions affecting efficiency, sustainability and effectiveness
  • > Lack of experience in performing enhanced surveillance, analytics or detection
Key outcomes
  • > Transformed global operating model including organisational design, people skills and capabilities

  • > Kick-started integrated analytics initiative to tackle silos

  • > Defined capability framework for staff skills development

  • > Implemented new investigative and analytical ways of working

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The challenge

> DMW worked for a global banking group, defining and communicating the strategic vision and target operating model for the global market abuse surveillance function. The group were also in the process of further technical rollouts and system replacements across communications (email, chat and voice) and trading systems.

> Their existing surveillance operations were overwhelmed with alerts, many of which were ‘false positives’ that required a significant workforce to process. The existing IT had been implemented in a siloed manner, each focusing on a specific area of data or a subset of the overall risk, creating effectiveness, efficiency and sustainability issues.

> Their workforce was used to operating binary detection systems and escalating or closing the ‘alerts,’ but less experienced at performing enhanced surveillance, analytics or detection.

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How we helped

> DMW presented a vision of a more integrated future, transforming the entire operating model across people, process and technology. We led on communicating the vision, soliciting collaborative inputs from across the function, as well as briefing and showcasing the new model through a variety of innovative techniques.

> We kick-started the integrated analytics initiative, providing programme and technical leadership to deliver a more integrated technology stack, tackling siloed technology implementation.

> Our team defined a new capability framework for staff skills development and new analytical and investigative ways of working. We also supported the broader change programme on compliance, privacy, and data sharing to accelerate delivery across the portfolio of poorly understood processes.

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The results

> We delivered a coherent vision to the global management team, enabling them to reorganise their teams. We re-prioritised change initiatives including staff skills development, integrated analytics delivery and business process review and optimisation. 

> We managed cross border data approvals for the programme across 60 countries and defined the Target State architecture along with producing a multi-year roadmap for the journey to Integrated Analytics.

> We also increased staff awareness, engagement and commitment as a result of increased communications and transformation showcases we held at major hubs and sites around the globe.