Client: Global Financial Services Company
A leading financial services company with over $550 billion in total managed assets serving individual and institutional customers worldwide and offering a variety of products and services including mutual funds, annuities, real estate brokerage franchises and relocation services.
Challenges
- The tax and actuarial department was under a corporate directive to have its mission-critical applications SEI CMM Level 3 compliant. Several applications were undocumented and had no formal processes in place and were therefore considered at risk.
- Lack of a formal process for managing software maintenance resulted in applications that were difficult to maintain and costly to support.
- Information from these systems that was used to make business decisions was unreliable, negatively impacting the reputation of the department and consequently the bonuses of senior management.
RMK Solution
- Provided an SEI specialist who worked with the tax and actuarial systems stakeholder as well as the corporate software engineering productivity group to develop a formal process, templates and reports.
- Developed a means of communicating these best practices to the rest of the department.
Results
- The applications achieved CMM Level 2 compliance and are scheduled for a Level 3 audit.
- The RMK professional transferred knowledge to the client’s staff so they can continue to maintain and improve processes internally.
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