AFTAs 2018: Best Risk Management Initiative—Barclays Investment Bank
![Barclays-Risk-AFTAs2018](/sites/default/files/styles/landscape_750_463/public/2019-01/Barclays-Risk-AFTAs2018.jpg.webp?itok=lkH93mEu)
One of the key features of modern banks that come across loud and clear in any submission to the AFTAs is the extraordinary scale that the most successful institutions operate at. The numbers that are tossed around casually by operations staff, in particular, are often the most remarkable for their sheer size—and, for those staff in question, their enormity.
Take Barclays Global Market Operations (GMO) as an example. The unit looks after around 40 exceptions processes—which the bank says are mostly structured in Microsoft Excel—which in turn generates 5 million monthly emails. As if that number wasn’t large enough, try this on for size: The unit is also tasked with processing around 300,000 exceptions on a daily basis. Simply handling this in spreadsheets isn’t an option. For this, Barclays needed Delphi. Working with the Technology unit, GMO helped develop a platform designed to reduce Excel dependency and email generation, while enhancing transparency in decision-making—after discovering that, frankly, there wasn’t much available off the shelf.
“Delphi was conceptualized after a series of risk events within GMO with the management team not having clear transparency over risks and action owners,” says Asis Tewari, vice president, strategy and optimization at Barclays Investment Bank. “We started speaking about due diligence capabilities with vendors and platform providers to resolve this issue. What was clear was that there is a glaring gap in the industry on exception management platforms specifically for investment banking. Delphi started as a pilot to address four different exception management use-cases and easy onboarding allowed for new types of exceptions to be onboarded quickly.”
It integrates both home-grown technologies, such as an Angular5 grid, with external tech, including Tableau dashboard architecture, all predicated on Agile development and delivery, with the ability to onboard three distinct types of exceptions per day. “As we had a chance to build and design this product from scratch, it provided a blank canvas for us to incorporate design principles and layout, from the analysts on the ground up to the leadership team. The key objective is to drive operational excellence via efficient risk management by introducing behavioral and cultural change on the platform,” says Tewari.
The growth of Delphi within Barclays has been impressive, with a demand list of over 100 further types of exceptions for on boarding. The platform is set to eliminate costs of over £2.4 million and remove over 400 internal applications. Looking ahead, the bank says it sees applications for Delphi’s continued growth, by expanding into segments such as managed services oversight, investor transparency, and as a platform for a modular operations management team.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Awards & Rankings
Sell-Side Technology Awards 2024 winner’s interview: Broadridge
In this year’s Sell-Side Technology Awards, Broadridge Financial Technology won Best outsourcing provider to the sell side thanks to its hugely successful business process outsourcing offering
Waters Rankings 2024: Best market risk solution provider (highly commended)—FactSet
Product/service: FactSet Multi Asset Class Risk Solutions
Waters Rankings 2024: Best portfolio management system provider (highly commended)—FactSet
Product/service: FactSet PM Hub
Waters Rankings 2024 winner’s interview: IPC Systems
IPC Systems won the Best cloud infrastructure provider category in this year’s Waters Rankings. Tim Carmody, CTO of IPC, discusses his firm’s recent success in the rankings
Waters Rankings 2024 winner’s interview: Vneuron
Vneuron Risk & Compliance won the best AML compliance solution provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: Cloud9
Cloud9, part of Symphony, won Best trading floor communication system provider category in this year’s Waters Rankings.
Waters Rankings 2024 winner’s interview: AI Risk
New York-based AI Risk won the Best cyber security provider category in this year’s Waters Rankings.
Waters Rankings 2024: Best performance measurement and attribution system provider—FactSet
Product/service: FactSet Performance Solutions