Business Consulting
PROJECTS
DEVON SOLUTIONS
PARAGON CREDIT SOLUTION PLATFORM
PREMIER US HEDGE FUND
While consulting for one of the largest US hedge funds, Devon Solutions project-managed the implementation of Paragon's Credit Risk Solution including integration to ALLEGRO ETRM trading system and a proprietary CRM reference database, created with the project. The new system managed all aspects of daily credit exposure monitoring including calculation of Potential Future Exposure (PFE) using 7 stress scenarios and a monte carlo simulation using historical price, volatility and correlation data at a 95% confidence interval. We created 7 new counterparty credit scorecards, which were incorporated into the model to determine internal credit ratings. The project included creating a ratings based credit management policy and desk procedures. The system was up and running within two months and refined using Agile methodology.
WHITE LABEL ELECTRONIC PAYMENT & REPORTING SYSTEM
AIG BUSINESS PARTNERS
While consulting for American International Group, Devon Solutions' principal co-project-managed development of a payment and reporting platform using BOTTOMLINE TECHNOLOGIES Web Series to replace AIG's disparate electronic banking system connections. The new system is a cost-effective solution to increase compliance controls, improve payment visibility, better manage payment approval authorities and allow AIG to become more bank agnostic to leverage lower pricing schemes from competitor banks.
The platform is rolled out in their European treasury center of excellence and is expected to be rolled out worldwide in 2016. Our principal handled overall project management and executive stakeholder and compliance group communications.
(See BottomLine Technologies' case study - Opens New Window)
SHAREPOINT INTERACTIVE BANK RELATIONS PORTAL
AIG BUSINESS PARTNERS
While consulting for American International Group, Devon Solutions' principal managed a project to design a dynamic 2-way interactive communication platform for senior management and business executives so that they along with the Bank Relations team can more effectively manage AIG's commercial and investment banking relationships including:
Interactive Bank Meeting Calendar with email notifications
Document Repository – Bank Relationship Summaries, Presentations, etc.
Interactive Relationship Contact database (internal and external by bank)
AIG Marketing Materials Repository
Internal Blog / Meeting Notes
Bank Media / News Stories Archiving
AIG and Bank Stock Tickers and Summaries
Yahoo/Google News Feeds
OPENLINK TMS BANK RELATIONS MODULE
AIG BUSINESS PARTNERS
While consulting for American International Group, Devon Solutions' principal managed a project to redesign and enhance the bank relations management module within OpenLink's treasury management system, Findur. The module provides comprehensive tracking of loans, letters of credit and credit facilities extended to AIG subsidiaries, with reporting on credit, capital market and transaction fees, credit exposure and credit ratings.
APPIAN CREDIT WORKFLOW TOOL
AIG BUSINESS PARTNERS
While consulting for American International Group, Devon Solutions' principal managed a project to redesign and enhance a credit request workflow using Appian to provide an end-to-end audit and interactive communication platform ensuring compliance with delegated approval authorities, reporting and integration into AIG's treasury management system. Delivered business critical systems integration 1 month ahead of schedule by reprioritizing development schedule and reorganizing developer resources.
PROPRIETARY COLLATERAL MANAGEMENT SYSTEM
MAJOR ENERGY TRADING COMPANY
While an employee at a major commodity trading company based in CT, Devon Solutions' principal mitigated credit and operating risk by developing over-the-counter margin policies and processes and specifying, designing and building a semi-automated platform to store financial exposure data, calculate margin requirements, generate required letter notifications and calculate monthly interest. Over the counter margin system supported growth of more than 100 new buisness relationships with no increase in administrative fulltime employees, while maintaining credit risk discipline.
INFOR B4B PAYMENT FACTORY
NOBLE AMERICAS CORP.
While an employee at Noble Group Ltd, Devon Solutions' principal led a team which identified payment automation opportunity and implemented a payment factory (Infor B4B) for Noble Group that processes more than 4,000 payments per month in North America while simultaneously creating associated accounting journal entries with 472% first year ROI from reduced costs of 2 FTEs.
ARIBA P2P GLOBAL IMPLEMENTATION
NOBLE GROUP LTD.
While an employee at Noble Group Ltd, Devon Solutions' principal specified, selected and implemented ARIBA as the group’s global indirect spend platform, which is expected to create more than $4 million in annual savings from 7 FTE resource reduction and strategic spend management, and closed 23 control gaps, delivered 1 month ahead of schedule at 67% of budget despite expanded objectives. Rolled out to 5 international finance hubs - Stamford CT, Hong Kong, Singapore, London and Geneva.Supported the transition of Finance overhead control and invoice processing operations to a shared service center in Montevideo, Uruguay for 3 global centers – Stamford CT, London, and Geneva. Resulted in a 2 FTE reduction, over $200,000 in estimated cost savings, and improved process discipline.