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Reimagining the future of securities operations: The time for change is now
Journal of Securities Operations & Custody,
12
(2),
161-166
(2020)
Abstract
This paper focuses on the need for change in the financial services industry and leveraging and implementation of technologies to transform the front-, middle- and back-office functions. The paper explains the pressures and needs of the industry and identifies the different technology solutions that can collectively change the operations landscape to better address evolving client needs, changing organisational models and increasing global regulatory compliance requirements. It highlights the drivers for change in the era of digital disruption and provides insights into tools, approaches and techniques that progressive operations leaders are adopting.
Keywords: future of broker dealer operations; advance technologies; the future of work; capital markets operations
The full article is available to subscribers to the journal.
Author's Biography
Bob Walley has more than 30 years of experience in financial services and currently leads Deloitte’s Risk and Financial Advisory Capital Market practice. He works with clients to help them become more secure and resilient by operationalising rules, regulations and controls. Bob leads a number of industry transformation programmes, including the project office for the consortium of exchanges, to implement SEC Rule 613 Consolidated Audit Trail, Regulation Best Interest and Shortening the Settlement Cycle (T+2). Bob is currently focused on helping clients strategise and implement operational change under the ‘The Future of Operations’ campaign.
Sriram Gopalakrishnan is a managing director in Deloitte’s US banking & securities practice with more than 15 years of experience in leading technology and operations transformation programmes for Investment banks. Sriram focuses on helping broker/dealers with large-scale initiatives related to regulatory reform (eg living wills, EMIR, T+2, CAT), cost reduction and simplification (automation, application rationalisation, process optimisation) and building enterprise capabilities (settlement, clearing and collateral management).
Mike Wade advises major financial services firms on operations strategy, securities clearing operations, broker/dealer outsourcing, merger integration, systems conversion and regulation implementation. Before joining Deloitte & Touche, Mike spent eight years at Wachovia Securities where he was a managing director and held positions as chief operations officer and chief administrative officer.
