Reorganisation of Onboarding team

Client Needs & Objectives

Our client, a global CIB, wanted to redesign its New York Office Client Onboarding organization.

The objectives were as follows:

  • Align with Paris Head Office organization
  • Prepare for compliance with new regulations such as FATCA, MIFID and Dodd Frank
  • Improve client satisfaction

Our Approach

  • In a constrained environment with reduced budget the objective was to create a centralized onboarding team with a process closely aligned to those of the Head Office taking into account local specificities
  • Current set-up analysis
    • Cartography of current state process flows defining key tasks and responsibilities
    • Gap analysis with Head Office structure
  • Target Operating Model
    • Target process mapping (temporary and long term)
    • Transition roadmap definition
    • Roles and responsibilities description and allocation
  • Scenario validation and roadmap
    • Implementation and resourcing plan
    • Strategy presentation to C-Level management (COO, CFO &CRO) and work initiation on quick-wins

Client Benefits & Main Results

Transparency on the onboarding process

Accountability and ownership of compliance functions

Identification of future requirements and process implications of upcoming regulatory initiatives

Alignment of the regional organization to Head Office when and where possible

Consistency of tools by leveraging on those of the Head Office