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Electronic Execution Systems – Risk Controls Assessment

Client

Australasian Investment Bank

Function

Compliance; Front-office trading; Risk; Technology

Asset Class

Algorithmic Trading

Geography

Asia

Duration

5 months

The Ask

Following a preliminary GreySpark-run pre-trade risk review, the client, a leading Australasian investment bank, asked GreySpark to perform the full assessment for the entirety of the client’s Electronic Execution Systems (EES).

GreySpark conducted a full-scope assessment including all streams involved in EES execution flow for the bank covering: Governance, Quality & Change Management, Availability, Performance & Scalability and Pre-Trade Risk controls.

GreySpark then cross-referenced the final assessment against proprietary information and industry best practices to advise the client on control improvements.

Methodology

  1. The GreySpark team first completed detailed reviews with key stakeholders.
  2. The team then completed a gap analysis in the context of execution flow and measured it against industry benchmarks.
  3. All findings and recommendations were reported to the EES Risk Operating Committees.
  4. The GreySpark team ensured that all actions were flagged for follow through by the bank’s ORM.

Outcome

GreySpark delivered:

  • EES systems execution flows by region;
  • EES application cartography by business line and information systems architecture  layers;
  • A global RACI matrix and preliminary
    organizational model; and
  • A heat map, gap analysis and recommendations by stream and by business line.

GreySpark Delivered Benefits

  • GreySpark delivered an independent assessment of the client’s risk management capabilities on all streams globally for the APAC region, including Australia.
  • GreySpark provided a clear schematic and architectural representation of global exec systems flow, cartography and heat maps.
  • The client gained a comprehensive series of recommendations that were integrated into their ORM process.

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