The Opportunity
A leading global asset manager launched a reinsurance subsidiary, with a bold vision of fast paced multi-billion dollar acquisitions to build up their book of business.
The firm had the following three challenges, which they needed help to address:
- Time-To-Market Pressure as the company needed fully operational IT systems to meet their demanding strategic acquisition vision
- Integration Complexity as the acquisition scope was global, which could involve multiple accounting frameworks and regulatory bodies, compliance gaps,
and integration of legacy systems into their IT ecosystem - Scalability Demands as the IT ecosystem needed to be able to accommodate rapid business expansion without impacting security and performance
The firm engaged FINARCH to help advise and ensure their bold vision could be met.
The Solution
FINARCH guided the asset manager on their journey and successfully implemented a best of breed IT ecosystem, and supported their growth agenda through IT integration of acquisitions
New Target Operating Ecosystem
Front Office OMS/EMS
Blackrock Aladdin
Front Office (Privates)
Bloomberg
IBOR/ABOR
Clearwater
Middle Office
Risk (Blackrock Aladdin), Performance (Blackrock Aladdin)
Reporting/Cloud
Clearwater
System Implementation
The team helped to implement Blackrock Aladdin, Bloomberg and Clearwater as the foundation of their investment platform.
Acquisition Integration
The team provided technical and operational support to integrate acquisitions into their new IT ecosystem.
Accounting Frameworks
Several accounting frameworks were implemented, including IFRS, USTAX, NAIC, and USGAAP in order to accommodate potential acquisition targets in various regions.
Cloud-Based Data and Analytics Hub
Implemented Clearwater Analytics as the Reporting hub to provide insights into risk and exposures and improve investment and insurance liability hedging decisions.
FINARCH helped in the implementation of the project, including process design, gathering requirements, steering committee representation, and liased with vendors to identify gaps and resolve issues.
The Impact
The impact for this initiative paid huge dividends to the organization. The firm was able to successfully complete several billion dollar acquisitions and onboard them successfully. As part of the onboarding process, they were able to decommission old legacy systems, and integrate successfully into their best of breed platform.
Through implementing a modernized cloud and reporting infrastructure, and best of breed investment management systems, the company achieved a future-ready ecosystem where company executives had confidence they could continue their growth trajectory and ambitious plans.
