A French international group specializing in insurance and asset management entrusted PALMER with the management of its custody business. The aim of this strategic assignment was to optimize and formalize service level agreements (SLAs) to ensure efficient management of back-office operations, while guaranteeing rigorous control of economic performance. At the same time, the transition had to be managed smoothly and in a controlled manner, taking into account the social impact associated with the transfer of activities. Thanks to a structured PMO approach, PALMER supported the group in setting up SLAs, coordinating teams and managing change for a successful roll-out.
Project management expertise (PMO): implementation of rigorous project management to coordinate the migration and optimize processes.
Team skills analysis: in-depth assessment of internal and external team skills to ensure alignment with new requirements.
Back-office process optimization: continuous improvement of operations to maximize the efficiency of business management processes.
Implementation of control mechanisms: post-changeover monitoring with SLA performance control mechanisms to ensure continuity and quality of operations.
Controlled change management: coordination of social and organizational change as part of the transfer of back-office activities to minimize the human impact and ensure a smooth transition.
Clear definition of migration principles: development of migration criteria for an orderly and controlled transition of asset/liability management activities.
Meticulous preparation of changeovers: rigorous testing and detailed preparation of changeover weekends to minimize interruptions and ensure a smooth transition.
Post-migration monitoring: regular checks to assess ongoing SLA performance after migration, enabling real-time adjustments.
Effective coordination between stakeholders: smooth management of interactions between the parties involved to ensure clear, frictionless communication throughout the process.
Taking social impact into account: proactive management of the social impact of business transfers, ensuring a respectful transition for the teams involved.
Development of migration principles: definition of migration criteria, asset management processes and TSOs, to ensure an orderly transition.
Definition of reporting and monitoring tool requirements: identification and implementation of the tools needed to monitor SLA performance, providing clear, usable information.
Coordination of switchover preparation: organization of in-depth tests and switchover weekends to ensure a seamless transition.
Creation of a post-migration organizational structure: setting up a monitoring committee to supervise operations after migration and quickly resolve any malfunctions.
Post-change monitoring and control: implementation of control mechanisms to assess SLA performance and adjust processes in line with feedback.
Changing organization of custody business: the complexity of the organization of custody business during the assignment called for an agile and adaptable approach.
Social impact of the business transfer: managing the human consequences of the business transfer represented a major challenge, requiring particular attention to ensure a controlled social impact.
Coordination of internal and external teams: synchronizing actions between the teams involved required rigorous management and constant communication to avoid dysfunctions.
Improving the performance of back-office operations: optimizing operational processes to ensure smoother, more efficient management of operations.
Formalize SLAs: set up clear service level agreements, guaranteeing measurable commitments and better performance management.
Smooth transition, respectful of the social impact: proactive management of the business transfer ensured a controlled transition, with minimum disruption to teams.
Post-changeover performance monitoring: regular checks to guarantee ongoing SLA performance and adjust actions if necessary, thus ensuring lasting quality of service.
