CRISIL's solution

• CRISIL GR&A manages the ‘first line of support’ for the Front Office and all quant model users of the equities desk. The team consists of 8 members working in 3 time zones – the UK, Poland and India 
• Extend intraday pricing request support and undertake quick initial valuation reviews for new trades. The products covered by the team include all Vanilla and Exotic Derivative Trades across 6 Desks 
• Explain FO and other users valuation differences between various risk systems and quant pricing tools
• Test new models introduced by the quant team globally, explain valuation differences and coordinate release
• Create PDFs and presentation material for the Sales and Structuring team using Automation tools
• Geographies – EMEA with the US and APAC, 6 desks and 40 books
• Teams closely involved: FO, Quant, Product Control, MO, Risk Mgmt., IT, Structuring and Change Mgmt
• Added new workstreams that were offshored, leading to rationalization of the onsite team
  

Client impact

• Support response time has dropped from 1 hour to 15 minutes
• Mix of onshore-offshore extends coverage on support. Approximately 50% increase in offshore team’s coverage (released 40 models in one year, covering 2,000 exotic positions)
• Trade migration time-scale has reduced to 3 days from the earlier 5 days
• Effective and on-time resolution of support issues given the geographical coverage advantage
• Quant team in any location is able to release models with quick turnarounds and minimum overheads
  

Questions

Looking for high-end research and risk services? Reach out to us at: