Delivering Innovation to Banks and Asset Managers
RCloud is a management consultancy specialising in delivering large scale transformation for investment banks and asset management firms.
In the current climate financial institutions have to fundamentally transform their business and IT processes due to multiple drivers such as increased regulation, eliminate inefficiencies in legacy processes or embrace new technologies such as Big Data, Block Chain, Machine Learning to maintain the competitive advantage.
RCloud, with its large network of industry leading practitioners and SMEs, is well positioned to partner with financial institutions and implement their transformation agenda. Our core areas of expertise are ‘Risk and Regulatory Change’, ‘Process and Operation Efficiency’ and ‘Innovation’. Click below to find out more!
Financial services have entered an era where the viability of legacy business processes and IT systems is being continuously challenged by innovative technology concepts and solutions. With the advent of blockchain, AI, Machine learning and ongoing improvements in application of Big Data; we believe the financial services will undergo a radical transformation to deliver better client outcomes, minimise operating cost and offer innovative products and services.
RCloud is committed in helping its clients realise the true potential of latest technology. We have ongoing partnerships with firms specialising in Blockchain, Big Data and Machine learning and have started applying these technologies to re-engineer legacy processes and deliver innovative solutions.
Risk and Regulatory Change
RCloud is well equipped in helping our clients transform their core operations and business strategies to achieve regulatory compliance. With knowledge and experience of working on major regulations such as MiFID II, EMIR, CCAR, FRTB, Dodd-Frank and SFTR; we can help our clients conduct impact analysis, structure delivery programmes, execute by required deadlines and setup BAU and Assurance Models.
RCloud has also extensively worked with CROs and CFOs at Tier 1 Investment Banks and delivered strategic changes to better manage Market Risk, Credit Risk and Operational Risk. Some of the projects we have delivered include implementation of Risk Based PnL across the Bank, Front to Bank Standardisation of Market Data and Sensitivity calculation, overhaul and automation of Risk reporting by on-boarding cutting edge vendor solutions.
With experience in a broad range of organisations and a proven track record of delivering risk and regulatory change in a well-defined but pragmatic manner, RCloud delivers a powerful combination of expertise, leadership and advice that is tailored to the specific requirements of each engagement.
Process and Operational Efficency
Organisations are under increasing pressure to ensure that their processes are as efficient as possible in order to maintain a strong advantage. Customers and regulators alike have come to expect well run, lean operations in the quest for greater transparency, better service and a higher return on investment.
Identifying and dealing with inefficiencies is more than just cost-cutting and often requires smarter adoption of technology, streamlining redundant processes and implementing an optimal resource or location strategy.
At RCloud, we have a team of consultants who are experts in operational excellence, with a track record of working within the financial services sector to help businesses achieve their strategic goals around customer satisfaction, revenue growth and cost reduction.
How We Can help
At RCloud, We are passionate about change. Our philosophy is that even the most complex of Transformation Projects can be successfully delivered by never losing sight of its key objectives and pursuing simple and pragmatic solutions. We can help with various stages of Programme Management and Delivery, which include the following:
- Programme Initiation and Mobilisation
- Programme Planning & working out an efficient delivery structure
- Business Analysis
- Mangaing Programme Delivery including IT Development lifecycle – Build, Testing, UAT and Go Live
- Programme Closeout & Transition to BAU
In addition to above we can also conduct a Health check and Assurance of an existing Programme and validate if it is on track to meet the stated objectives. Below are some examples of the work we have completed in the past on MiFID II delivery, FRTB impact assessment and TOM Design.
We have been advising various buy side and sell side firm on specific topics ranging from Product Governance, Transaction Reporting, Best Execution, Inducements, Investor Protection and Cost Disclosures. We were enaged to deliver the full end to end implementation of MiFID II for a leading UK wealth manager and successfully achieved full compliance by 03-Jan-2018 deadline by completing the following programme stages:
- Set up the governance model and steering committee and appointed key stakeholders as agreed with the Chief Exec and COO.
- Documented the level 1 MIFID II requirements in a business friendly text relevant to the organisation and conducted the gap analysis
- Socialized the Key issues and impact with business heads across IM, FP, CIO, Operations, IT, Legal and Finance
- Delivered a full Solution design and detailed implementation plan agreed with all suppliers
- Executed the delivery and manged the IT development, Testing, UAT and Go Live.
We have successfully completed a high profile FRTB analysis for a leading European Bank identifying the key impacted areas. This included definition of trading books/desks, Risk Factor classification, implementation of technical sandbox solution to run the P&L attribution test and Risk Theoretical P&L.
At the time of engagement, our programme sponsor was keen to understand the desks that would fail the FRTB tests. Our lead consultant conceptulaised the ideas of a sandbox where the FRTB tests can be run for each desk and worked closely with traders, quants and risk management teams to implement the required infrastructure in a 12 week period providing a visual dashboard and heatmap of the results of FRTB tests for each desk.
Our investment banking client wanted to review the business processes, organizational model, location strategy and technology supporting its Rates business. The goal was to improve control, while increasing the scalability and agility of the business. Our objective was to develop a roadmap with costs that would drive investments into this business.
We deployed four senior consultants with in-depth Rates business experience — for a three-month review. Our team developed clear measures of success for the target state, and reviewed weaknesses of the current state. Using these data points, the RCloud team facilitated a number of working sessions to design the target state business processes. We then overlaid this with organizational design details before crafting a multiyear technology roadmap that successfully delivered benefits over a three-year time frame.
Gaurav Bansal (Founding Partner)
Gaurav is the founding partner at RCloud. He is a Transformation expert, specialising in Risk and Regulatory Change. Over the years, he has successfully led and delivered large scale change programmes, managing annual budgets of up to 30 MN dollars, for industry leading organisations such as Goldman Sachs, Credit Suisse & Fidelity. He is an expert at designing Target Operating Model for various business functions such as Market Risk, Operational Risk, Finance, Front Office, Trading and Investment Research.
Piyush Jain (Risk Delivery Lead)
Piyush is the Risk Delivery lead at RCloud. He has around 20 years of experience in Programme/Project management, Business Analysis and Software Development in investment banking, financial, eCommerce and government organizations. He has successfully coordinated and executed projects in geographically diverse and multi-group organizations under given budget, resource and time constraint. He has a solid track record of delivering large scale transformation in Market Risk and Credit Risk for leading investment banks
RCloud is always on the look-out for talented, high calibre people with experience of working in financial sector. If you believe you have the necessary skills and qualities we are seeking and your work ethic and values match those of our own, please send your CV to: