Managing Investment Banking Processes with TIBCO Nimbus

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A leading UK global investment bank needed to quickly overhaul its operational controls capability following a failed audit by the FSA. They used TIBCO Nimbus® and Nimbus professional services to capture around 14,000 process diagrams together with policies and business controls. TIBCO Nimbus is now used for on-going control certification across 37 business areas, affecting 5,500 staff in 20 locations.

The ChallengeRapid expansion through acquisitions in the US had created a siloed organizational structure, which caused severe challenges for control oversight and monitoring. Audit failings identified by the FSA made this an urgent priority. The bank quickly realized that historical ways of working (heavily dependent on manually maintained spreadsheets) was a significant risk factor. The bank instated a program to establish more rigorous centralized control.

Capturing and standardizing processes and instituting rigorous governance of this process information was the obvious start point. The quantity of process and its distribution across over 30 business units in 20 locations presented a significant challenge, particularly as each process needed to be cross referenced and aligned with appropriate policies, procedures, and controls.

SolutionThey selected TIBCO Nimbus as their process management platform, with the specific goals of facilitating regular effectiveness testing and gap analysis against their control standards as well as enforcing communication and attestation of all changes. A key selection criteria was that the resulting framework of processes and controls should be easy to sustain and part of day-to-day operations for all staff, not a technical toolset only referred to by a few process or control specialists. The bank needed to make progress quickly in order to address FSA findings. Nimbus Professional Services was therefore an important enabler in alleviating internal resourcing constraints and accelerating the development of a robust methodology approach. Nimbus provided consultants with banking experience as well as expertise with TIBCO Nimbus.

Managing Investment Banking Processes with TIBCO Nimbus

S O L U T I O N B R I E F

exported30Apr2014

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ResultsThe key achievements throughout the project were:

• Establishing a center of excellence, based on Nimbus best practices, to govern quality, provide training, and ensure consistency

• Capturing as-is processes to ensure alignment of control standards, thus enabling future changes to be properly controlled

• Consolidating global control standards

• Enabling subsequent change projects for shared services, knowledge management, and re-engineering.

The bank’s global operations function now has over 14,000 processes aligned to appropriate policies and controls. This serves as a sustainable reference for all staff to understand the processes and controls they must adhere to.

TIBCO Nimbus provides a platform for assessing control effectiveness and gaps and ensuring that a rigorous and pragmatic controls environment is sustained. Importantly, this is not a typical centralized service but part of a business owned and governed control function.

Overall, these changes will improve agility, as the bank now has the ideal change management and communication platform needed to successfully implement business process improvement initiatives in the future.

“In a few months we have been able to achieve what has taken similar organizations well over a year, and that has only been possible with your help and process mapping expertise.”

— VP Program Manager, Global Operations

S O L U T I O N B R I E F

TIBCO Software Inc. (NASDAQ: TIBX) is a global leader in infrastructure and business intelligence software. Whether it’s optimizing inventory, cross-selling products, or averting crisis before it happens, TIBCO uniquely delivers the Two-Second Advantage®— the ability to capture the right information at the right time and act on it preemptively for a competitive advantage. With a broad mix of innovative products and services, customers around the world trust TIBCO as their strategic technology partner. Learn more about TIBCO at www.tibco.com.

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