Data has been one of the main topics on the agenda of financial services firms for over a decade - and yet still, most firms are battling through many of the same challenges around data management, accessibility, data veracity, the ability to unlock value-adding analytics and achieve efficiencies through AI and automation.
With the current market environment adding pressure to firms to ‘do more for less’, data is now being viewed by Boards as not only as a key transformation objective, but a necessity through which firms can deliver the company’s strategy whilst reducing costs and increasing operational effectiveness.
We approach our clients data challenges differently. We have a unique blend of data subject matter experts that have decades of industry experience leading the largest and most complex transformation and technology programmes – coupled with an in-house team of data engineers, scientists, and developers that can provide technical perspective and architectural oversight.
The Novatus team has been deeply involved in our client's data challenges and has supported programmes across the full enterprise data lifecycle. We are uniquely positioned to advise and provide SME support as well as support as programme implementation partners. We provide our clients with meaningful advice that goes beyond a transformation roadmap and deliver actionable solutions that embed substantial change.
Recent examples of work:
Asset Manager: Novatus conducted a full review of the firms EUC landscape, including detailed analysis of several models used by the Investment teams to quantify internal ‘model risk’ and develop a robust control framework with auditable model governance.
Major Global Asset Manager: A major global asset manager needed to lower operating costs, with rising cost base and no internal controls around cost centres to enable quick action. Novatus performed a ‘Zero cost’ bottom-up assessment over the cost base & annual cost increases and provided a detailed breakdown of spend with a strategic roadmap of recommendations for material reductions.
UK Asset Manager: Against a backdrop of net outflows, the firm needed to reduce Distribution FTE and total cost, whilst defending assets and reversing rising outflows. The Novatus team conducted data driven analysis of sales & marketing activity to identify asset defence strategy and in parallel developed a machine learning algorithm for predictive analytics & insights to enable the team to do more with less.
Leading Asset Manager: Our team managed all workstreams under the ‘data’ domain on one of the industry’s highest profile mergers to deliver the business to a target end state data architecture.