Detailed Client Case: SimCorp Implementation
Client Background – Global Asset Manager
Client Challenges:
The client faced significant challenges in integrating Sentinel, a global asset manager’s proprietary system, into SimCorp Dimension. Understanding the functionalities and intricacies of SimCorp Dimension, posed a significant challenge for the client, particularly in terms of data integration and system upgrades. The migration process required extensive recoding and enhancement of all rules based on the legacy system, necessitating a comprehensive parallel run to validate outputs and ensure a seamless transition. The absence of an updated system posed limitations and complexities in managing investment compliance effectively.
Our Approach:
To address these challenges, we established and maintained coding standards to ensure consistency and reliability in rule implementation, leveraging standard web coding practices. Comprehensive testing protocols were devised, including standardised test names and procedures, to validate the accuracy and efficacy of rule implementations. A global guideline coding project was initiated to migrate mandates from LZ Sentinel into SimCorp Dimension, involving interpreting mandates from multiple geographies, coding, testing, and conducting parallel runs of investment compliance rules prior to go-live. Investment guidelines were meticulously re-coded to incorporate the client’s new IM asset tree, enhancing coding standards and improving overall compliance processes. A close collaboration with Data Management teams was also maintained to review data exceptions and enrich securities data where necessary, ensuring seamless integration and data integrity.
Client Benefits:
The integration of SimCorp Dimension resulted in enhanced monitoring capabilities, providing the client with greater insight and control over investment compliance. The successful upgrade streamlined trading processes, increasing operational efficiency and reducing manual effort. Expanded rule coverage enabled the client to address a broader range of compliance requirements and scenarios effectively. The robustness of the new system reduced the risk of regulatory breaches and safeguarded the firm’s reputation. By aligning with best practices and industry standards, the client achieved greater confidence in its investment management processes and operating model. The transition not only addressed immediate challenges but also positioned them for future growth and success.