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Offshoring: Sydney A Live Example April, 2005 FX JSC Operations Managers Sub Group Operations Managers Conference.

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Presentation on theme: "Offshoring: Sydney A Live Example April, 2005 FX JSC Operations Managers Sub Group Operations Managers Conference."— Presentation transcript:

1 Offshoring: Sydney A Live Example April, 2005 FX JSC Operations Managers Sub Group Operations Managers Conference

2 2 c:\my documents\wordmark\a2powerproject\bbstart.pot Global Operations Managers Conference Table of Contents 2 Centre Model Section 1 Section 2 Section 3 Why Sydney Section 4 Section 5 The other side of Sydney The Reality Support Model & Structure

3 3 c:\my documents\wordmark\a2powerproject\bbstart.pot Why  Opportunity to create a dual processing centre model outside of the major financial centres  Reduced Operational headcount from four centres to two  Centralised functions  Reduces costs in supporting our core vanilla businesses How  FX was specifically chosen as the test group for the two centre approach due to similar processing streams  A review was conducted to identify the functions which could be covered in Sydney during an extended working day.  Services provided in this location directly supports the entire Asia region and half of London working day.  Client Service Groups remained in the trading centres Global Operations Managers Conference 2 Centre Model

4 4 c:\my documents\wordmark\a2powerproject\bbstart.pot Global Operations Managers Conference Why Sydney Ability to leverage experienced Morgan Stanley managers on site Low geo- political risk Language skills (including Japanese) Higher cost differential Sydney earliest time zone Established financial centre CLS best supported in the Pacific Rim region

5 5 c:\my documents\wordmark\a2powerproject\bbstart.pot Global Operations Managers Conference Support Model & Structure Based on the functional review the following sub-groupings were developed.  Pre-settlement services  Account Maintenance  CLS  Trade Maintenance  Payment Processing  Phone confirms  Post-settlement support  Reconciliation  Investigations  Compensation Sydney Support Structure  2 x 10 Hour shift structure – 1 Day and 1Night  Day shift comprises staggered start times to facilitate all time zones  Night shift work a 4 day week  Documentation & Payments  Payment processing  Incoming confirmations  Chasing Primarily supported in 2 nd location Global coverage supported in Sydney Primary functions Limited functions

6 6 c:\my documents\wordmark\a2powerproject\bbstart.pot People  Good pool of skilled people in relevant products / processes  Graduate population is keen to get into the financial industry  Higher than expected attrition rate  Market is buoyant in Sydney, similar organisations are competing for FX skill set  Supporting Shift structures Processes  CLS support well established in Sydney, in-depth expertise / knowledge base now in place  Centralisation of reconciliations, creating economies of scale, improved ability to service our clients with earlier fail information  Centralisation of other functions (e.g. SSI maintenance) resulted in enhanced global standards in how we supported our businesses Global Operations Managers Conference The Reality

7 7 c:\my documents\wordmark\a2powerproject\bbstart.pot Global Operations Managers Conference The Reality contd…… Business Unit Relationships  Working remotely has made it difficult to establish strong relationships with the Business Unit for new staff, a new and different approach was required. Global Operations Communication  Getting people to think differently in the way they communicate in a global operations with support offices now outside of traditional financial centres

8 8 c:\my documents\wordmark\a2powerproject\bbstart.pot Global Operations Managers Conference The other side of Sydney……


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