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Emily Trustram Eve

MAPI, Prince2 Practitioner, Lean/SixSigma




Commercial Due Diligence - Financial Services


The Assignment
I was recruited as an Associate by Troika (now Navigant) as a result of being involved in some client side due diligence, to select a supplier to set up and run a Business Process Outsourcing Benchmark.
The assignment was to conduct a full commercial due diligence exercise on the Indian IT vendor that Skandia was about to appoint as its outsourced IT provider.  I wrote the Executive Summary, for the Board and wider stakeholder group, which highlighted the risks and mitigations covering aspects such as Financial, Legal, Technical and HR.


Company Information
Skandia is one of the world's leading independent providers of solutions for long-term savings and investments. They offer products and services that cater for various financial needs and security.
In 2007, Troika were acquired by global consultant firm Navigant Consulting. Troika was a UK financial services consultancy providing consultancy services to the financial services industry covering operations performance improvement, product and distribution strategies, organization, people, IT effectiveness and transaction support. Troika’s UK clients include 13 of the top 15 life companies, nine of the top 15 banks and building societies and 10 of the top 15 investment management firms.


The Challenges and Solutions
The IT Vendor was already integrated into IT delivery within Skandia’s so it was important to ensure that any risks were mitigated and that senior stakeholders were aware prior to the finalising of the report.
The provider also had few established UK / European clients at the time so finding similar sized client references was critical.  Gathering sufficiently validated financial data on the supplier was initially challenging along with understanding any inherent risks in their corporate governance and ownership structure.  Local business experts were found to help interpret and validate findings.

The Value Add
Being a qualified management accountant, with experience selecting suppliers for HR systems and for a Business Process Outsouricing Benchmark provider, I was able to interpret both the hard and soft evidence and help find commercial and practical mitigations to any risks.
I also managed to persuade the Group IT Director from a major European IT retailer to be interviewed by the Due Diligence Team and senior Skandia stakeholders.  This helped resolve a number of sensitive issues which had previously been unresolved.