Insurance company deploys Blackrock Aladdin and Eagle and brings investment operations in-house
Client Profile
The Investment Management division of an insurance company with multiple subsidiary entities and total invested assets comprised of fixed income, derivatives, and private placements exceeding $30 billion.
Business Situation
Leading up to this project, our Insurance client outsourced their operations and trade support functions to a 3rd party Investment Manager. The client was embarking on a strategic growth initiative to create an Insurance Services platform that would support asset servicing for a consortium of insurance companies. To accomplish this business objective, the client sought to internalize investment operations, which required them to implement multiple systems and build out an Operations organization from scratch.
Grandview’s Role
Grandview provided strategic advisory and project delivery resources to ensure our client was successful in meeting their objectives. In support of this engagement, Grandview provided thought leadership and expertise to design the organizational model, define roles and responsibilities, document processes and procedures, implement Blackrock Aladdin and Eagle PACE, migrate historical data, perform QA and risk assessments, and hire and train the new team.
Business Results
Stood up a fully operational team and systems supporting $30 Billion AUM.
Reduced annual investment operations costs by $1.5 million by internalizing previously outsourced functions.
Implemented Blackrock Aladdin in 15 months
Migrated legacy Accounting Books and Records from ePAM to Aladdin.
Integrated Aladdin with Eagle PACE to provide a centralized data warehouse and reporting function across multiple underlying Insurance Companies.
Created a Data Governance structure to define enterprise data standards for asset sectoring, pricing hierarchy, security and portfolio analytic assumptions and methodologies, and reporting workflows.
Implemented a risk controls framework that was well received by auditors and yielded ZERO exceptions.
Using JIRA and Confluence, deployed a knowledge sharing center that documented policies, procedures, meeting minutes, and rationale for key decisions made throughout the implementation process. The site was successfully transition to the BAU teams and continues to be used today as a primary collaboration site.
