| The Typical Client Situation
The current challenges faced by financial services institutions are multi-dimensional:
Mandatory Regulatory Compliance:
Deliver regulatory compliance with the numerous and often conflicting and/or overlapping national, regional and global regulatory pressures at an ever increasing pace
Operate in a continual state of change across the policy, governance, people, process and systems dimensions, to be compliant in a cost effective manner, always trying to do more for a given budget
Once effectively compliant, add business value by enabling enhanced management information for decision making and improved control, as well as facilitating the provision of new products and services
| Questions clients need to address
To enable a firm to meet these challenges and issues, a firm has to address a series of related questions:
• How can you leverage external best practice knowledge whilst building and maintaining a core in-house competence?
• How do you cost-optimally deliver change whilst de-risking individual projects?
• How can the management overhead of your team be simplified leaving you better able to run your business?
• How is corporate understanding retained within your team without that knowledge leaving every six months?
| Client challenges are compounded by further complication
Addressing these challenges is further complicated by numerous issues:
The need to remain agile and the ability to respond to cost pressures necessitates that the correct specialist resource is available at the correct time. To maintain this flexibility a financial services institution must rely on a high proportion of contract or consulting staff within its change functions
Complexity of relationships:
With an increasing reliance on consultancy and contract staff, the management overhead increases where multiple vendors must be liaised with, monitored and governed. Obtaining discretionary effort and ensuring all parties irrespective of heritage act as one team can often be challenging
Increased standards expectations:
Conduct risk has been highlighted as a severe risk to the financial services community resulting in a flow of fines and reputational damage. Linked to the unflinching requirements of regulators is the need to ensure the good conduct of all of your team members
Attracting and retaining talent:
The challenges to attract, develop and retain talent have never been higher due to there being only a finite number of qualified resources available. Retaining institutional knowledge is of critical importance and is frequently challenging in the current environment
TGP Verified™ is the brand of our TGP delivery model for complex regulatory, risk and compliance transformation.TGP Verified™ is one of the core differentiators for TGP in the market.
TGP Verified™ is designed to address our clients most challenging problems in a structured, timely, effective, cost efficient and quality assured manner. In short,TGP Verified™ forms the basis for how engaging TGP looks and feels from a client perspective.
Each TGP Verified™ engagement is:
• Focused solely on client priorities
• Practitioner centric bringing proven experience
• Personally managed and overseen by a TGP partner, and
• Leverages our proprietary SME database
TGP Verified™ covers all aspects of the client engagement lifecycle:
• Demand Management
• Execution, and
| TGP Verified™ – The TGP Delivery Model
TGP Verified™, our TGP Delivery Model enables us to effectively meet your needs in a cost effective, timely and quality assured manner. TGP Verified™ consists of a proven methodology to client delivery with appropriate processes and controls that leverage core intellectual property to deliver at all stages of your needs:
TGP will take full responsibility for people management and issue resolution. Our task is to deploy the right resource at the right time to achieve the right results for you. We manage on and off boarding and ensuring newly deployed staff are fully up to speed on their role and use of our consulting accelerators, tools and enablers as appropriate. Our approach can allow you to retain built up institutional knowledge. Our approach can allow you to retain built up institutional knowledge via our TGP eVal™ model. TGP eVal™ enables you to recruit consulting staff on a case by case basis as and when required in a commercially sensible manner.
Our QA procedures are designed to ensure that all of our services meet the highest professional and ethical standards. Our processes include, but are not limited to adhering to the policy of ‘the right people for the right job’; subjecting all work product to TGP partner oversight and review; and, actively seeking ongoing feedback including agreeing key performance measures where appropriate
As well as obviously obtaining and acting upon your specific client feedback, we actively provide you with information to enable both parties to manage the engagement. This information can include financial tracking of actuals (cost to date) and cost projections; staff breakdown including utilisation, anticipated duration and performance reviews; risk, issues, assumptions and dependencies tracking and management; and handover reports where appropriate
As you would expect, our demand management is designed to ensure you get most value out of our service. In addition we will work with you to ensure capacity and timeliness are rigorously catered for, working proactively with your procurement stakeholders to meet your specific needs. Where possible we will re-use resource on successive engagements to retain institutional knowledge, and indeed, our TGP eVal™ model enables you to recruit consulting staff on a case by case basis as and when required in a commercially sensible manner.
All our resources will be project ready from the outset. From full background checking to being brought up to speed on your firm, your specific current engagement status and their role, to use of appropriate TGP accelerators, and key engagement stakeholders. We aim to ensure everyone ‘hits the ground running’
Speed of Response/Scalability:
We have a large group of known and verified consultants available to us via our proprietary SME database, all of whom go through a rigorous TGP Partner interview prior to being deployed on-site. We maintain regular contact with these consultants to ensure we know who is most appropriate for your needs. In conjunction with our senior TGP partners and permanent consulting capability, we can scale to meet every need
Prior to the on-boarding of any resource we ensure all HR and client credential and accreditation requirements are met
Our approach puts delivery of your desired business outcomes first. No up-sell, no cross-sell and no product positioning. We listen and deliver to your specific needs
Our delivery experience is proven. Each senior TGP Partner brings decades of delivery experience in organisations just like your own. We are practitioners and our TGP Partners ensure our service is continuously managed for you to the highest professional consulting standards
We have developed many consulting tools, enablers and accelerators including but not limited to: PMO toolkit templates; model control frameworks, policies and procedures; model banks and insurers; model delivery and test methodologies; model cost/benefits analysis templates; industry & vendor benchmarks; data management and governance models; regulatory data models; and controls heat maps and risk registers
Execution Management Information:
Typical weekly progress, status and issues reporting are seamlessly integrated into our engagements and are available for your review
Skills Transfer & Training:
Our collaborative approach focuses on ensuring our resources are proactive and always willing to provide that extra discretionary effort. We fully integrate into your teams and ensure up-skilling and skills transfer via a combination of on-the-job learning, shadowing, a formal buddy system, mentoring and more formal class room style training where required
Our exit strategy will be considered upfront and reviewed during the engagement to ensure an active closure and transition process with full handover to your BAU team, which may include retention of built up institutional knowledge. We will provide a summary exit report detailing common themes & potential lessons from our exit interviews with all resources. Also, all work products will be clearly structured in a central repository for future reference. Lastly, additional time and effort will be made to ensure a full handover and knowledge transfer has occurred, which may include use of our TGP eVal™ model which enables you to recruit consulting staff on a case by case basis as and when required in a commercially sensible manner.
For more information regarding TGP eVAL™ please hover over the image above