Wm Platform Requirements Template Concept V1
- 1. WM Platform requirements workshop HK / SG / Regional July 10-11 51F Hopewell center
- 2. Regional Hong Kong - Logistics Singapore Appointed scribe - Fast typer !!!! Deliverable – Agreed HL Platform Requirements for vendor RFP Dinner 9-6 Thursday , 9-2:30pm Friday WM Functional Requirements – Next two days
- 3. WM Platform template concepts Regional WM template will have all necessary components except local unique requirements. Known localization requirements will be setup with corresponding parties cooperation. Document- ation WM Platform Components Regional Common Development Objects Organization Structure Master data Country Version Local Add-On Objects Regional Integrated Processes & Reports Local Processes Local Requirements Local taxation and Regulations Local Customer & Distributor specific requirements Local business custom Interface with local systems Common Requirements (=AIA WM Template) 80 ％ Local Requirements 20 ％ When rollout to the local entities, no rework in Regional template design will be required because of the standardization design for regional implementation Hong Kong Singapore Regional
- 4. Wealth management – Agreed platform strategy Source: BCG analysis On-line access to information, research, statements and transaction instructions Advisor services Market news & research Quotes Product comparisons APL Financial planning, risk profile, fact find, asset allocation tools Commission updates Training Compliance Product aggregation Full set of products (saving, transactions & borrowing, investing & insuring) Ability to transfer funds between products Client admin & servicing New business processing Transaction servicing CRM Policy documentation Trust deeds Customer & Advisor Life companies and fund managers Electronic links Administration platform Customer & advisor website We are seeking to partner with a leading platform provider to deliver our wealth management solution and achieve efficiency and economies of scale
- 5. Wealth management – agreed product strategy Savings, transaction and borrowing Customers’ financial needs Fact finding Risk profiling Financial planning Portfolio design & product selection Life insurance A&H P&C insurance VA Tax planning Estate planning Tax filing Investment tracking Payment management The product strategy aims to significantly broaden the range and move from a single product focus to an integrated wealth solution Investing Insuring Planning Management Deposits Cash mgt Credit Card Mortgage Mutual funds Stocks & bonds Structured notes
- 6. WM To-Be Business Scenario Framework
- 7. WM Product Requirements Level 2 1.0 Order mgmt & post trade comp. 3.0 Banking 4.0 Investing 2.0 Insurance 5.0 Trade confirmation settlement clearing Product Deposits Cash Mgmt Credit Card Mortgage Mutual funds Stocks Structured Notes Life Insurance P & C insurance Variable Annuities
- 8. WM Customer Requirements Level 2 Customer 23.0 Easy Access to products Account Information Client and advisor information 6.2 Information Asset and Portfolio Overview Market Information Product information Advisors proposals Research Investment and financing recommend. 7.0 Advisory Financial planning tools Education Application Mgmt Payment and account transfers Market transaction 8.0 Transaction Assets / liabilities Provision / tax reporting Advanced asset analysis 9.0 Reporting 24.0 Trendy and Relevant
- 9. WM Advisor Functional Requirements Level 2 Advisor 23.0 Easy Access to products Account Information Asset and Portfolio overview Market info and research Product information / APL Risk Profiling Financial Analysis Portfolio construction Investment Recommendations Tax and estate planning Payment and account transfers Applicant management 6.2 Information Market transactions Auto rebalancing Nominee accounts Payment Calculation Tracking 7.0 Advisory Marketing support Prospect Management Appointment management Proposal Management 8.0 Transaction Performance management Assets / Liabilities Provisions and tax reporting Advanced asset analysis Education, training, compliance 9.0 Reporting 24.0 Trendy and Relevant 6.1 Information 10..0 Advisory and Planning 14.0 Commission engine 11..0 Transaction 13.0 CRM Relationship 12.0 Client reporting
- 10. WM Client Admin Requirements Level 2 6.2 Information 8.0 Transaction 9.0 Reporting 24.0 Trendy and Relevant 10..0 Advisory and Planning 11..0 Transaction 13.0 CRM Relationship 12.0 Client reporting Client administration and servicing 16.0 Client Info and account mgmt 17.0 Client reporting 20.0 Workflow 21.0 Security and Audit 15.0 Custody and corporate actions 19.0 Documentation 18.0 Compliance, tax & regulatory reporting 22.0 Localization (Country) 23.0 Trust Deeds
- 11. WM To-Be Business Scenario Framework Product Customer Advisor Client administration and servicing 1.0 Order mgmt & post trade comp. 23.0 Easy Access to products 24.0 Trendy and Relevant 3.0 Banking 4.0 Investing 16.0 Client Info and account mgmt 17.0 Client reporting 20.0 Workflow 21.0 Security and Audit 15.0 Custody and corporate actions 19.0 Documentation 2.0 Insurance 5.0 Trade confirmation settlement clearing 18.0 Compliance, tax & regulatory reporting 22.0 Localization (Country) 6.2 Information 7.0 Advisory 8.0 Transaction 9.0 Reporting 6.1 Information 10..0 Advisory and Planning 14.0 Commission engine 11..0 Transaction 13.0 CRM Relationship 12.0 Client reporting
- 12. Appendix
- 13. WM To-Be Business Scenario Framework V1 Product Aggregation Customer Advisor Client administration and servicing Deposits Easy Access to products Easy Access to services Cash Mgmt Credit Card Mortgage Mutual funds Stocks Structured Notes Life Insurance P & C insurance Variable Annuities Regular Statements of activity Trendy and Relevant Regular Communication Easy Access to services Fact Finding Portfolio design Risk Profiling Admin efficiency Financial Planning Payment Management
- 14. WM To-Be Business Scenario Framework The framework of the business scenarios WM Platform project covered is as follows. *Out of Scope Financial Planning Tools Wealth & Risk Products 1.0 Order to Cash X.0 PSI Planning (Forecast) X .0 Key Parts Sourcing Plan 9.0 Accounts Receivable 4.0 Customer Master 2.0 Purchase Management Product Aggregation Assets in Trust / Individual Direct Securities 3.0 Manage Logistics 8.0 Accounts Payable 10.0 Period End Closing & Tax Accounting 11.0 Asset Management 13.0 Financial Planning, Control & Reporting 12.0 Treasury 5.0 Vendor Master 6.0 Material Master 7.0 Price Masters Multiple Regulatory Sites 15.0 Consolidation
- 16. WM Business Process Overview & Scope AIA Life AIA Risk Products Product supplier Distributors Development & Design AIA WM Business Unit Sales Plan (Forecast) Finance Risk product Sourcing Daily Prod. Plan R&D Wealth Suppliers Vendor Issued Product Mgmt. Product Issue Process Products issue Parts P/O Products availability M/O Parts Receipt Production Delivery Products Information Actual vs Budget Ctl/ Firm P/O Operatons Mgmt. MRP Pull Data Blanket P/O Order Mgmt. PSI Planning Products Purchase Marketing Operations Inventory Mgmt. Controlling Finance/Controlling QA Sales Sales In Japan Actuarial PSI Planning Finance Budget vs. Actual Ctl. Controlling Finance/Mgmt. Control Consolidation Sales Plan (Forecast) Delivery Mgmt. Production Mgmt. Life Operations Product training Sourcing Risk Products Sales/Marketing Product Dev PSI Planning Production Planning Order Processing Invoicing Product Delivery P/O Order Entry Invoicing Export Funds Manager, Securities Finance Finance Product order Product Inquiry Local Customers Product order Product Inquiry Local Customers Distributors (Regional) Order Pull Data Blanket Order A A B B B C C A D D Warehouse Mgmt. AIA Life Customers (Regional) Customers (Global) Phase 1 Phase 2 Phase 3 A