Posts Tagged ‘Analysis


Organisation of a Financial Advisory Firm

I had been working on 1 year project that to setup a new Financial Advisory (FA) firm locally in Singapore.  There are lots of discussions with the parent Company, setting up the new FA’s organisation structure, the agents’ structure and roles & responsibilities between FA and parent financial institution.

Lots have been working on and today, I like to share the high level target operational model for this FA.  The organisations required are:

  1. Distribution Support (Agency Management, Compensation)
  2. New Business
  3. Client Services
  4. Claims Services
  5. Product Development
  6. Training & Competency
  7. Compliance
  8. Finance Accounting
  9. Human Resources
  10. Risk Management (includes Business Continuity planning)
  11. Technology Services
  12. Shared Services (outsource, if any)

Reflect on managing vendors’ projects – when needing to protect each vendor’s own liability

A discussion were made on Monday Dec 31 to draft out the proposed process for managing the Phase B implementation for Vendor B. Our IT manager make it very clear that in any cases we have to protect the liability of the Company and to get the revised implementation to be as close to initial solution that we already had in place, with minimum impact/efforts required if necessary. Further the discussion, I was brainstorming to understand the situation on the client and vendor B on the option 1 that they preferred to have.

I further analyzed and see it has something to do with the current operational process between the client and vendor B. Taking away the views of technology, we identified that the possible reason is on the current SLA performance that vendor B needs to fulfill should they are to use the current implementation.  I can’t say much here but this is an area that the Client will have to manage with their vendor as we are only looking into the possible alternative to get this out, with minimum impact and cost to the current solution.

What we are doing right now is drafting out the proposed alternative, the pros and cons (that also includes additional cost if required) of it in regards with our understanding from their current process and requirements.  The rest is up to the Client to work it out with their vendor on the best approach.

June 2018
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