FX Settlement Firm

PROJECT DETAIL	FX settlement firmFinance TransformationDuration: 9 months
DESCRIPTION	The Client had recently recruited a new CFO who sought independent assessment and help in transforming an underperforming finance function. The three broad phases were: 1. Mapping and documenting the current work processes of the finance teams. 2. Evaluating options for improvement3. Implementing a series of changes to the finance organisation.
APPROACH	During the project’s first phase, we worked in partnership with the Client team to map the processes, assess organisation efficiency, improve the understanding of finance stakeholder requirements and identify improvement opportunities. Quick wins in relation to structure, roles and process were identified with our team taking the lead in the implementation. In parallel, the longer term strategic transformation continued to progress, particularly focusing on the Client’s organisational structure and the offering of the finance team. We realigned the finance organisation structure, provided clarity of roles and a more focused engagement with the business.
BENEFIT AND OUTCOME	As a result of the new processes and clear accountabilities, the finance team accelerated month end close by eight (8) days, addressed significant internal audit control issues and improved the transparency of reporting, budgets and forecasts. Providing the business with greater insight and timely information.