An Asset Management Company of one of UK's largest Life Insurers selected Aptivaa to conduct a validation of the GAP analysis performed by them. A MiFID project team of six to eight people, lead by a program manager, had already completed a GAP Analysis for Mifid compliance.

Our Approach

Aptivaa followed a structured methodology to define the constituent business units and their inter-relationships amongst the complex network of entities performing different functions in the value chain of the organization. The comprehensive mapping of the organization's units were documented and were validated by the client. This allowed for a precise definition of the MiFID

The client organisation structure has evolved over a period of time as a result of rapid growth which has created complex inter-linkages. The existing work produced was incorporated into our highly structured, methodical approach. On analysis of the business assessment previously completed, it emerged that certain business units had been excluded from the previous assessment. We also identified that certain MiFID areas were also inadequately analysed as the inter-linkages between the excluded business units effected the results. Our analysis did not go into the quality and evidence of responses; our methodology requires these to be taken from the business line and backed by documentation in evidence. This approach highlighted to the client the need for further work in areas already covered.

The review of seven months of effort by a team of eight was completed by Aptivaa in two working weeks, reflecting high productivity levels. This productivity is reflected in the total consulting costs to the client and has established us as a vendor which delivers value for time and money.

Business Benefits

Our approach showed up significant blind-spots in the existing work:

• Excluded a US$ 500 million proprietary portfolio;
• Excluded a US$ 5 billion conflict of interest situation.

We created a more nuanced context for their work, which the client adopted for handling the project going forward. The client used our services for specific modules that needed greater technical depth and competence.