Managing Technology in the Operations Function'Managing Technology in The Operations Function' looks at issues in technology from the operations function rather than from an IT perspective. It explores the use of technology for processing, provision of client services, risk management and business management. The authors analyse the benefits of straight through processing and the practical implications of managing technology products in operations. System risk and opportunities are explored and case studies are examined along with industry trends to assess upcoming developments and their impacts. The use of technology is one of the key drivers of growth in the volumes of business in the financial markets today. The impact that technology has had, and is still having in the operations function is truly substantial. Technology now reaches into just about every aspect of the business. Electronic trading, messaging systems, and information distribution have created a global market that is, relatively speaking, instantly accessible and available. For operations this manifests itself in two ways: the automation of processes and the automation of information gathering and distribution. For operations managers this period of change has elevated the function from a pure support service into a dynamic revenue protector/generator, with a heavy client service and risk management focus. The reliance on technology to drive this progression forward and to meet the challenge is therefore of crucial consideration for the operations manager. The challenge for the operations teams and managers is to embrace technology and maximize the use of this vital and powerful tool within the business. A failure to do so will inevitably have a negative impact on the operations function and ultimately damage the whole business. The definitive series of professional references for those finance professionals concerned with "Back office" or operations management unique to this industry. Presents concise references on the essential management functions such as technology, client services, and risk management for financial operations management professionals.A comprehensive resource from a leading financial management consultant for global banks and institutions. DMS has also developed a wide range of financial management courses, materials and programs over the last seven years. |
Contents
What IT can deliver | 51 |
Working with technology processes and information | 81 |
The project life cycle | 149 |
Technology risk | 181 |
Glossary | 195 |
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achieve additional agent banks asset benefit bond broker broker/dealers budget cash clearing and settlement clearing house Clearstream client completed confirmation corporate actions cost cost-benefit counterparty database delivery Depository Trust Company dividend efficiency electronic enhancements ensure equity errors Euroclear example failure Figure firms fixed fund managers futures contract Gantt chart going impact implementation increase industry infrastructure initiatives interest interface internal investment issue London Stock Exchange look manual monitoring Operations department Operations function Operations managers Operations teams option overall payment position prioritization problems procedures progress project management regression test requirements result savings schedule securities settlement cycle settlement date settlement instruction shares specific staff static data Stock Exchange STP environment suppliers system risk tasks technology risk test scripts TowerGroup trade transaction volumes underlying Unit testing User acceptance testing