For the IT function of a financial institution or retailer that is implementing a compliance technology initiative, the availability of knowhow and resources in the available time are the most critical success factors.
The level and depth of knowhow required varies considerably over the phase of the program and with time. Taking a simple waterfall SDLC process as an example, the Requirements definition and analysis phase requires compliance SME and business knowledge coupled with the ability to do systems analysis. Design on the other hand require technology design and architecture skills alongwith some functional knowledge of the regulation/industry. Development, be it application level or BI/data level requires hands on programming knowledge. System Integration and Functional Testing on the other hand require testing skills and QA experience alongwith some experience in the compliance arena. User Acceptance Testing Support requires business and compliance process knowhow
The availability of scale and quality of resources in the compliance technology space is usually a big challenge for most financial institutions and retailers. Hiring specialist skills for a short or medium duration project brings with it a number of logistics and effort related overheads which can impact implementation timelines
SCS specializes in the Compliance technology space and has access to a wide pool of resources through its own team as well through its partner network throughout UK & Europe. SCS has a range of engagement models to service the Technology solution requirements of our clients and can provide skilled compliance technology consultants for short, medium or long term requirements to cater to your overall program or specific project phase requirements.
· On Demand resourcing model
· Core team + flexible capacity model
· Program specific Managed Services model
· Compliance technology outsourcing model