About Client
The client is an American registered investment advisor based in Malvern, Pennsylvania, with about $7 trillion in global assets under management. The client is considered one of the Big Three index fund managers that dominate corporate America. It is one of the largest providers of mutual funds in the US and the second-largest provider of exchange-traded funds (ETFs) globally. In addition to mutual funds and ETFs, the client offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services.
Client’s Problem Statement
The client had a complex system with many aspects that needed to be integrated into a cohesive portfolio management system. They needed help to upgrade its legacy investment management system with Charles River Investment Management System (Manager Workbench, QOE, Compliance, Order Life Cycle, Reference Data, etc.) and the asset classes such as Equity, Fixed Income, Equity Futures, and Options across all geographies where they operate. The project also required seamless solution integration with its existing communications and order management systems.
Solutions Offered
Tx worked closely with the client business team in an onsite/offshore arrangement and assisted with the following:
Developed an agile solution model which included a detailed test plan and high-level test scenarios for each phase of the project implementation.
- Performed functional testing to validate the functionality of the system.
- Performed integration testing to ensure the functioning of all interfaces.
- Performed data migration testing to import data from legacy systems into the new system
- Performed defects reporting and management to track the progress consistently
Results Achieved
- Successfully implemented CRIMS system with minimal defects in the provided timelines
- Developed reusable test assets for future use and reduced the required man hours
- Delivered 40% QA cost savings with an onsite/ offshore execution model
