Quantum Strategic Advisory

Background

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This bank had approximately 7,500 Finance staff located across the world with 7% of staff in tertiary locations.  The migration of Finance activities to global service centers was ad-hoc and inconsistent.  Finance wanted to increase operational efficiency by centralizing functions to facilitate the elimination, automation and simplification of processes.   Finance wanted to build a dedicated Shared Service center which was not just focused on routine transaction processing but could also be a Center of Excellence where the next CFO could come from. 

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Our Role

 

• Perform a country analysis for the optimal location of a Finance Center of Excellence.  Consider existing captive locations and the potential for a brand new site.

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• Assess key people and business drivers, stakeholder needs, activity and functional parameters in order to identify and prioritize a Center of Excellence strategy

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• Determine the Target Operating Mode including legal, tax and HR considerations

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• Benchmark against offshore operating models and locations from other major banks

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• Develop a Business case for the strategy including options,  costs, benefits, risks

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• Gain buy-in from Finance Senior Management and Board approval for the spend​

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Outcome

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• Performed a headcount analysis of all of Finance globally to determine cost base, who does what and deployment potential

• Mobility assessment of what can move by legal entity/business process given regulatory and system constraints

• Defined country selection criteria including talent pool, local incentives, country risk, accessibility, labor costs, real-estate costs and execution difficulty

• Perfomed local country visits to evaluate other financial service operations

• Developed indicative roadmap of what can move when

• Evaluated operating model options - global hub, regional COE's, proces hubs, hybrid

• Presented a global sourcing strategy and gained agreement for a new Finance COE site location