Challenge
An industry-wide regulatory and compliance ruling required significant changes in how our insurance client needed to calculate and report key financial information. Additionally, our client faced ongoing large increases in assets under management, necessitating a thorough reexamination of their internal processes and systems. The challenge was to address both the new regulatory requirements and the growing complexity of asset management through a comprehensive strategy.
How TEKLEIGH helped
- Assessment: Conducted a detailed assessment and developed a target operating model to meet new compliance and reporting requirements.
- Target Operating Model: Assessed and developed a target operating model for a new investments platform to manage all asset classes.
- Request for Proposal: To address current and future needs, TEKLEIGH created and executed a Request for Proposal process for 10 applications and service providers.
Benefit
TEKLEIGH’s comprehensive approach enabled the insurance client to meet new regulatory requirements and enhance financial reporting accuracy. The new business processes and technologies, supported by thorough testing, ensured compliance and operational efficiency. This strategic implementation not only addressed immediate challenges but also supported the client’s long-term growth strategy, achieving successful outcomes on-time and on-budget.
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