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Successfully implementing and scaling automation programmes in securities operations
Journal of Securities Operations & Custody,
11
(4),
303-316
(2019)
Abstract
This paper will first discuss the key drivers leading to a rapid adoption of automation and the challenges faced in scaling automation programs across Capital Market firms. Secondly, it discusses five critical strategies that firms have adopted for successfully scaling their automation programs (1) incorporate process excellence in automation playbook, (2) create a risk and compliance–centric programme, (3) infuse automation within the human operating model, (4) build capacity to enhance unique skill sets and (5) boost scaling velocity using partner ecosystem; and finally conclude that given the manual nature of many of functions within securities processing, there are tremendous opportunities to scale automation, however, achieving scaled automation requires considerable discipline and process rigor.
Keywords: scaled automation; automation playbook; securities; trading; broker dealer; operations; RPA; AI
The full article is available to subscribers to the journal.
Author's Biography
Cormac Dinan is a Director in Financial Services Consulting, focusing on the investment management and asset servicing sectors. Cormac works closely with leading global clients on strategic and challenging issues in the areas of regulatory change, many aspects of operations and technology, strategy, merger integration and client onboarding. He also serves as Deloitte’s co-head of the EMEA Asset Servicing Centre of Excellence and has developed deep international CXO relationships right across the industry.
Sridhar Rajan leads the robotic and cognitive automation efforts in financial services for US Deloitte Consulting. With over 20 years’ experience and specific focus in the securities and capital markets area, he has advised senior clients on a range of strategic and operational issues, including robotic and cognitive automation, M&A, process reengineering and corporate strategy. Specific to robotic and cognitive automation, Sridhar has led — and is leading — some of the largest automation efforts within financial institutions, with such efforts ranging in scope from strategy to rapid prototyping to organisational capability building.
Kakul Sinha is a leader in Deloitte’s robotic and intelligent automation practice and focuses on the financial services industry. He has advised many capital markets and securities operations clients on implementing large-scale automation programmes, intelligent automation strategies for automating core business areas like middle/back-office operations, finance and procurement. Kakul also focuses on developing intelligent automation solutions in Deloitte’s Cognitive Automation Lab to address some of the financial services industry’s current challenges.
