Dodd-Frank IA Compliance 2017-03-21T13:10:14+00:00

Project Description

Project Description

For a Fortune 100 Financial Services firm, Midtown Consulting Group managed the planning and project execution of a project to satisfy Dodd-Frank Title VII non-clearing house swap independent amount collateral compliance.

Business Case

Our client, as a Major Swap Dealer in the US market, was required by Dodd-Frank regulation to begin collecting collateral on non-clearing house derivative swaps. The project required coordination between front office teams, technology, compliance and modeling teams to ensure the solution met government regulatory requirements while maintaining the company’s ability to remain a cost-effective option in the market.

Project Objectives

Provide project management assistance to ensure successful completion of initiatives while maintaining corporate standards for project delivery. Identify and raise risks associated with project execution and help our client achieve a working system that met all business requirements.

Services Provided

Midtown Consulting Group provided Program and Project Management services, along with specific regulatory and compliance related expertise, including:

  1. Created a regulatory requirements Rules Tractability Matrix which aided in assessing overall draft rule compliance and became an easily accessed reference for project resources.
  2. Provided a rules interpretation and compliance review of proposed regulations (4 different issuing bodies) to summarize the need for model back-testing requirements.
  3. Developed a Risk and Control Matrix and provided suggested controls to address noted risks.
  4. Provided consultation on the appropriate method for developing and recording business requirements, enabling requirement traceability through the program.
  5. Developed a Traceability Matrix to map built functionality to business requirements.
  6. Led and managed the process of defining and documenting the end-to-end (E2E) testing process.
  7. Established enterprise program governance which spanned Capital, Risk Management, Front Office, Back Office, LOB Model Governance, and Technology groups.
  8. Reviewed all requirements documents against client standards to ensure compliance with established corporate guidelines.