Insight through relevant research and measurement
LEARN MOREStrategy through cutting-edge consulting
LEARN MOREExecution through seamless implementation
LEARN MOREYour Challenges.
Our Solutions.
Realize the benefits of membership
LEARN MOREUnrivaled buy-side expertise
LEARN MOREOur client, a State Treasury, manages nearly USD 90 billion in assets for several state agencies. The organization had significant gaps and risks in their infrastructure including the people, processes, and technology to support these investments.
The firm sought Cutter’s expertise to perform an Investment Operations review, arrive at a target operating model that would best meet their requirements, select the vendor solutions, develop an implementation roadmap, and provide assistance implementing the solution.
Client Type: Public Fund
Assets Under Management: Over USD 90 billion
Location: North America
Cutter Practice:
In the first phase Cutter performed a current state assessment. We identified gaps, risks, and opportunity for improvement using our standard Cutter assessment framework and Cutter Benchmarking collateral (Operational Costs and Allocation of Resources survey) to present peer firm comparisons concerning staffing levels across functional areas.
In phase two, Cutter designed a target operating model, leveraging leading industry practices for the use of technology, data management, and workflow, that would remove the gaps and risks in their existing environment. We then developed a roadmap, identifying discrete project initiatives and milestones, with high-level timelines, costs, and resource requirements.
In the third phase of the engagement, we conducted a detailed fit assessment of the options identified in the target operating model. These were further refined to two finalists.
Cutter then facilitated an evaluation of the options; work included defining the evaluation criteria, developing a detailed list of demo scenarios, facilitating demonstrations and subsequent site visits, making a final recommendation on the solution, reworking the roadmap and resource requirements for implementation and on- going maintenance. Cutter further assisted the client in contract negotiations.
Finally, Cutter provided assistance in implementing the the preferred solution, providing project management, detailed business requirements, testing, and deployment support.
In the first phase, in a span of five weeks the client was able to get an objective and expert assessment of their entire investment operations function across all divisions. A key component of the assessment, comparing staffing levels to industry averages, revealed that the agency was significantly understaffed across the board. Cutter provided empirical benchmarking data that supported the case for increased resourcing.
In the second phase, the client was able to get a target technology and operational solution to meet their investment objectives. Additionally, they were able to understand resource projections and high-level costs of investments that they could present to the state legislative sessions for approval.
At the end of the project, the firm was able to get an objective recommendation that set them on course for a transformative change that enables them to meet their long term goals. With the implementation of the new system solution, they are positioned to transition more smoothly into a “Business as Usual” operating mode.
CutterResearch content is the proprietary property of Cutter Associates and our members who have entered into confidentiality agreements. It contains information that is proprietary and confidential to Cutter as well as to the vendors discussed within the reports (the "Vendors"). Disclosure of the information contained in the reports could cause irreparable harm to Cutter and/or the Vendors.
By selecting "I Agree" below, you agree to safeguard this information with the same care as your firm affords its own confidential information. You will not provide access to this information to anyone who is not an employee of your firm and will not distribute this information outside your firm. Furthermore, you will not provide access to this information to any employee of any subsidiary, unit, department or division of your firm that is engaged in any aspect of the software business involving third parties, including, without limitation, selling or otherwise providing software to third parties, assisting third parties in the selection or implementation of software, or providing investment related software information to third parties (collectively, the "Prohibited Recipients").