Improving Charles River Data

The Case

A large asset management firm with a varied investment strategy investing in a range of products and outsourcing much of their fund administration to a third party service provider, had been using Charles River v.8 for a number of years. A system upgrade had been delayed due to the number of non-standard customisations that had been made to the product. We were asked to participate in a large and complex project focusing on upgrading the system to its most current version while at the same time removing a number of the customised elements and replacing these with best practice solutions. In particular, we were requested to provide expertise for the data operating model.

Our Approach

We focused on improving the data operating model for Charles River with particular focus on the exchange of data with Markit EDM. We clarified and developed the data requirements and processes in close collaboration with the firm. We also liaised closely with the product vendor to analyse the product functionality in order to ensure a smooth and efficient transition to the new version.

We defined all elements of the data model including security, position, account, benchmark and cash and ensured the effective migration of the existing data to the upgraded product version. This required us to establish effective change, release and vendor patch management procedures as well as collaboration between the support and project teams.

The End Result

Implementing the enhanced operating model and overall product upgrade has given the firm a modern and scalable order management system which has improved the firm’s portfolio management processes and reduced operational risk. Following this project, we have provided continued support for the new system and managed regular change requests.