HomeCapabilities & ExpertiseClient Impact StoriesDesigning a New Operating Model for Leading Brokerage Firm

Designing a New Operating Model for the Entire Middle Office of a Leading Brokerage Firm and Redefining Transaction Processing

Client Background & Challenges

The COO of one of the world’s leading brokerage firms wanted to double its margin in three years. The firm’s service and staffing models had built up over time, resulting in high degrees of variability in customer value (what the customer feels), service delivery (how it is delivered), and economics (profitability, risk and cash by client). The brokerage engaged SSA to solve its most vexing problems and fundamentally re-define how it operates. Key challenges included: a large and expensive workforce, no standardization of processes, archaic and inefficient IT, and low productivity.

Approach & Analysis

To provide a clear and concise understanding of the current state performance and key issues plaguing the business, SSA conducted a bottoms-up process mapping of key activities to economics (e.g. how much value/cost sales generated) and organizational structure. We identified multiple gaps in the system and functional groups, and utilized fact and data-driven assessment to break through institutional resistance in a complacent organization.

We also evaluated the brokerage against a determined world-class operating model through external benchmarking, particularly focused on bringing in the best practices, and providing PMO oversight to the transformation process.

Results & Value to Client

We identified $100M in benefits and defined a new operating model for the entire middle office, redefining how every transaction is processed.
SSA provided a powerful case for change, bringing our innovative and high-impact analytical rigor to the initiative. We leveraged our execution expertise to turn opportunities into sequenced actions to yield results. By analyzing opportunities for dependencies, lead times and critical paths to understand the big picture, we crafted a multi-tracked roadmap with shorter quick wins and better transformational changes. Our execution road map detailed project plans, resource estimates, deliverables, as well as identified risks mitigation strategies.

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