Program: FMCC Harmonisation Financial Markets and Group Treasury

Client type: Large Dutch Bank

Complication: Global implementation of a Target Operating Model (TOM) in 28 countries

Role Seventrees: End to end responsibility for program delivery

Duration: Approximately 2 years

Size: 2 FTE (program manager and project manager), 450k

Seventrees helped one of the mayor Dutch banks with harmonizing their client control activities for Financial Markets and Group Treasury globally, covering 28 locations. Faced with continuing regulatory pressure, the client established a central department that aims to be in control of all regulatory and internal requirements during the full client lifecycle. After extending the local mandate to a global one, a program was initiated to harmonize all client control activities globally and extend the scope to start covering Group Treasury as well.

Seventrees created a standardized approach to harmonize all locations (covering the analysis phase, an agreement on the solutions, the remediation of all gaps between the former situation and the TOM and the closure and handover to the business as usual) and executed this for all locations. Reporting ultimately into the global head of Business Management for Financial Markets and the COO of Group Treasury, Seventrees built the program around 4 waves to ensure focus and completion of locations before starting up new ones. In some instances an on-site visit was required to gain in-depth knowledge on the situation and to overcome pushback and in others it was possible to complete the full harmonisation using conference calls. Given the scope of the program and the TOM (which covered everything from policies, procedures, processes, work instructions, communication, training and technology), a lot of dependencies had to be managed. The standardized approach that was reusable (including standard documentation) has helped greatly in overcoming this.

This program has helped our client in severely reducing non-financial risk globally while maintaining the cost level. Seventrees and the client have together harmonised and where possible centralized all client control activities, leveraging technology and data and building a true global network throughout the business management organisation. A true lesson in how collaboration across cultures, across time-zones can bring tangible results.