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Wealth Advice

A major Australian financial institution determined to divest its wealth management business. A large program was mobilised to separate the processes, systems and people, establishing a stand-alone entity in preparation for the sale. To support the legal separation, processes interlinking the two entities needed to be re-designed. Reliance by either company on the personnel, systems or data of the other, had to be updated in-line with their Corporate Services Agreement. Armour was engaged to re-design the Advice Referral process.

The Advice Referral process focused on Consumer and Corporate referrals between the two entities. A ‘Use Case’ approach was leveraged to help describe the interactions and the detailed steps between teams and systems in the referral process.

Updates to the Advice Referral Process were delivered with the following artefacts:

A major Australian financial institution determined to divest its wealth management business. A large program was mobilised to separate the processes, systems and people, establishing a stand-alone entity in preparation for the sale. To support the legal separation, processes interlinking the two entities needed to be re-designed. Reliance by either company on the personnel, systems or data of the other, had to be updated in-line with their Corporate Services Agreement. Armour was engaged to re-design the Advice Referral process.

The Advice Referral process focused on Consumer and Corporate referrals between the two entities. A ‘Use Case’ approach was leveraged to help describe the interactions and the detailed steps between teams and systems in the referral process.

Updates to the Advice Referral Process were delivered with the following artefacts:

Current State Advice Referral Process Use Cases
  • Facilitated the design and document a future state process
  • Enabled requirements to be derived with a key focus on ensuring:
    • System access (ability to view/access data) is removed from users to systems
    • The Wealth business can continue to operate efficiently and productively
Current State Advice Referral Process Level 2/3 Process Maps
  • Facilitated an easy way to interpret key interactions between businesses
  • Highlighted key process steps that would need to change in order to support separation and assist with Change Management activities
Note. The document remains a living artefact that can flex with the business
 
Future State Advice Referral Process Use Cases
  • Provided detailed steps highlighting changes to the role a user or system
    • Use Case format helped to explain real life scenarios simplifying complex problems highlighting steps changed to support separation
Note. The document remains a living artefact that can flex with the business
Future State Advice Referral Process Procedure Guides
  • Provided clear instructions for users to understand how to complete business as usual (BAU) tasks and associated interactions between businesses
Note. The document remains a living artefact that can flex with the business
Plan for Legal Separation
  • Identified key steps that will be impacted as part of Legal Separation
  • Flagged areas considering Procedure, System, Policy and Branding impacts
  • Identified considerations to be taken into account for each process step impacted
  • Assessed the impact severity
  • Identified key challenges
Image4
Current State Advice Referral Process Use Cases
  • Facilitated the design and document a future state process
  • Enabled requirements to be derived with a key focus on ensuring:
    • System access (ability to view/access data) is removed from users to systems
    • The Wealth business can continue to operate efficiently and productively
Image8

Current State Advice Referral Process Level 2/3 Process Maps

  • Facilitated an easy way to interpret key interactions between businesses
  • Highlighted key process steps that would need to change in order to support separation and assist with Change Management activities

Note. The document remains a living artefact that can flex with the business

use-case-example-online-shopping

Future State Advice Referral Process Use Cases

  • Provided detailed steps highlighting changes to the role a user or system
    • Use Case format helped to explain real life scenarios simplifying complex problems highlighting steps changed to support separation

Note. The document remains a living artefact that can flex with the business

Image10
Future State Advice Referral Process Procedure Guides
  • Provided clear instructions for users to understand how to complete business as usual (BAU) tasks and associated interactions between businesses
Note. The document remains a living artefact that can flex with the business
Image11
Plan for Legal Separation
  • Identified key steps that will be impacted as part of Legal Separation
  • Flagged areas considering Procedure, System, Policy and Branding impacts
  • Identified considerations to be taken into account for each process step impacted
  • Assessed the impact severity
  • Identified key challenges

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