Derivatives systems migration
Our investment bank client wanted to retire a legacy credit-derivatives application and migrate the trades onto their strategic platform. The product set was complex and the legacy system was undocumented. Further, the new system was not fully functional: the migration required complex requirements definition by resources that had a detailed understanding of the credit-derivatives business.
We deployed two consultants for a nine-month review. The team consisted of a senior project manager, who had solid experience of this client; and a business analyst, with industry-leading knowledge of the sub-category of credit derivatives involved in the migration. Our consultants worked closely with the client’s in-house team of developers, testers and program manager.
Mosaic’s consultants established a plan and an approach to gather requirements — choosing to adopt the Scrum methodology to allow multiple iterative phases to the project. This enabled the team to provide visible progress to the user community, which was initially skeptical of the validity of the time frames. The migration is still in progress, with all milestones having been met.