Product Taxonomy (PT) Controls Review – Top Tier Global Investment Bank
Broadgate partners were engaged by our client on a 6 month assignment to work within their Product Taxonomy BAU team to provide functional expertise and deliver enhanced Product Taxonomy controls
- Products covered: Cash Equities, Equity Derivatives, FX Derivatives, Mortgage Backed Securities (MBS), Asset Backed Securities (ABS) and Collateralised Debt Obligations (CDO)
- Conducted trade sampling and testing: data extraction and modelling and attributed data to defined testing strata
- For the strata in-scope of the control, a random instrument sample was selected in line with the client’s agreed sample size
- Sourced term-sheets and confirmations
- Tested PT classification vs term-sheet / confirmation and focussed on key control objectives (4-5 main attributes)
- Captured test metrics including passes and fails and in the case of test failures, completed route cause analysis and documented them
- Organised test results and test closure meetings
- Completed test closure documentation and managed the sign-off process
- Updated process documentation and procedures
- Worked with client’s staff to improve and streamline control processes
Malcolm Clark
Director and co-owner
Malcolm has over 35 years of financial services recruitment and management consulting experience. After graduating from the University of Exeter in 1989, he initially worked in the accountancy and media sectors before moving into the recruitment industry in the early 1990s. As an investment banking operations and change management specialist, he has worked with some of the world’s leading financial services institutions across the globe.
Malcolm moved into management consulting in 2013.
Martin Perkins
Director and co-owner
Martin has over 35 years financial services logistics experience with 21 of those years spent in investment banking operations. The majority of his career was spent at UBS, where as a Director, he managed a number of departments including: Cash Management, Equity Derivatives Middle Office and Settlements, OTC Equity Control, BAU Process Change, Credit Derivatives Settlements and the cross-asset class ISDA OTC Documentation area.
Martin moved into financial services recruitment in 2006 and management consulting in 2013.
Julian Crow
Director
Julian has over 30 years of financial services recruitment and management consulting experience. After graduating from the Newcastle Business School in 1994, Julian initially worked in the FMCG sector before moving into the recruitment industry in 1996. As an investment banking, asset management, finance and change management specialist, he has worked with some of the world’s leading financial services institutions in the UK, US and Asia.
Julian moved into management consulting in 2013.