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

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