Financial Services

Whether operating in the commercial or government sectors, organizations in the financial services industry face a diverse set of challenges and can learn a great deal from one another.

MorganFranklin works with clients ranging from credit card and retail banking companies to secondary mortgage and regulatory agencies. We place great value in the diversity of our clients and always look for opportunities to leverage lessons learned and best practices from different sectors within the financial services industry to craft long-lasting solutions.

Financial Management Solutions

Client: Large U.S. Retail Bank
Solution: Governance, Risk, and Compliance

Assessed GRC risk tool for effectiveness in meeting ERM principles and practices. Conducted a review to evaluate the application’s ability to support compliance, regulatory, and operational risk components, and benchmarked market-leading products. Recommended a realignment of the OpenPages GRC software to optimize existing modules, enhance reporting, and improve user satisfaction.

Client: Global Credit Card Company
Solution: Legal Entity Management

Developed a business case to evaluate the existing legal entity structure and scenarios for eliminating entities without impacting the business while also removing business support costs. Planned, coordinated, and project managed the merger, liquidation, or deregistration of approximately 80 entities around the world. Reduced the entity structure by nearly 40% and created a repeatable process to ensure timely resolution of issues and appropriate management reporting.

Client: Federal Agency
Solution: Audit Readiness

Developed a framework for executing the annual evaluation and certification of internal supervisory controls as required by Title IX, Subtitle F, Section 961 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Provided assistance with developing the annual report and certifications required in preparation for a GAO audit.

Client: Global Financial Institution
Solution: Enterprise Risk Management

Developed and implemented a GRC framework and provided a turnkey internal control framework and implementation strategy. Reduced variation in internal control documentation, enhancing the identification of risks and mitigating controls to lower the overall unmitigated risk.

"MorganFranklin's work product is detailed and accurate, and they infuse themselves into the client's environment without disrupting other mission objectives."
— Agency Representative
MorganFranklin Customer Experience Survey conducted May 2011

 

Performance Improvement Solutions

Client: Investment Services Company
Solutions: ERP Optimization, Business Process Improvement, Program Management

Managed migration of procure-to-pay (P2P) processes from Ariba to Oracle E-Business Suite. Developed key business requirements and created to-be business process flows mapped to Oracle functionality to migrate to standard functionality where possible, and identified potential workarounds and customizations. Configured and implemented Oracle E-Business Suite, which increased the top-line potential derived from reducing time spent closing the books by 40% to 60%, allowing more time for analysis of market opportunities.

Client: National Financial Institution
Solutions: Business Process Improvement, Data Management

Reviewed existing processes for HAMP loan modification program data received by the client from its servicers. The review included an assessment of the data sources, data quality, types of data, timing of receipt, and needs of downstream data users. Also provided recommendations for remediation of identified data quality deficiencies.

Client: Financial Services Provider
Solution: Data Management

Supported design and implementation of a data scorecard, including managing and tracking line-of-business efforts to adhere to data compliance plans and creating data quality reporting tools.

Client: Asset Management Firm
Solutions: ERP Optimization, Business Process Improvement, Program Management

Developed commercial and financial systems strategy and roadmap, resulting in the selection of a finance enterprise tool. Assisted with the evaluation and selection of the software vendor, and participated in contract negotiations on behalf of the client. Designed future-state process and reporting for multiple finance functions.

Client: Government-Sponsored Enterprise
Solution: Analytical and Reporting Process Improvement

Analyzed end-to-end process for monthly and quarterly analytic review in securities and trust debt accounting, including identification of current processes, reports, and presentations to stakeholders. Determined stakeholder needs and reviewed how data was accumulated for purposes of analytic review and related timing of processes. Recommended improvements and efficiencies in analytic review reporting package, data accumulation, and presentation of results to stakeholders.