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DML to SLX Integration: WPI Contribution

December 14, 2006. DML to SLX Integration: WPI Contribution. Presented by: Michael Kristan. Agenda. Introduction & Background. Data Mapping Exercises. Capacity Planning. Recommendations. What is Securities Lending?.

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DML to SLX Integration: WPI Contribution

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  1. December 14, 2006 DML to SLX Integration: WPI Contribution Presented by: Michael Kristan

  2. Agenda Introduction & Background Data Mapping Exercises Capacity Planning Recommendations

  3. What is Securities Lending? • Securities Lending is the market practice whereby securities are temporarily transferred from a lender to a borrower. • Collateral is collected to protect against default. • Collateral is reinvested and profit is shared by all.

  4. DML to SLX Integration • SLX will be the sole front-end trading platform • DML will be used for loan maintenance only • SLX needs updates during the day from DML • DML will send intraday messages to SLX

  5. JPMorgan Traders DML to SLX Integration • New loans • Cancelled loans • Price changes • Lender swaps • Loan returns DML SLX • Utilizations are updated

  6. Data mapping exercises Loan in DML Same loan in SLX

  7. Analyzing DML loan data • A Microsoft Access database was created to run data field queries on real loan data • Problem: Too many loans in import into Access at once (220,000 loans)

  8. Parsing DML loan data • A Java utility was written to • Break the large loan file into smaller files that could be processed by Excel & Access • Remove loans which contained errors

  9. SLX server analysis • Based on analysis and estimations, recommendations were made for SLX hardware upgrades • Looked at how messages from SLMU impacted performance on SLX • Projected how many messages would be sent from DML during the day

  10. SLX server analysis

  11. Number of SLMU messages has an influence on processor usage & processing time

  12. Intra-day peak of DML messages will impact processing time

  13. Impact • Utilizations will not be updated within two minutes of arriving in SLX • Processors torn between feedback loop and normal activity • Lost opportunity each day • $10 million in manual loan bookings daily • $3 million in auto borrow loans • Reputation losses

  14. Recommendations • Establish contact with a member of the infrastructure team and maintain regular contact for the rest of the project’s duration. • Modify the 2 minute SLA for 3:30PM – 6:00PM & from 10AM - noon • Investigate further the need to increase file storage capacity on two volumes

  15. Establishing an Efficient Process for Project Management December 14, 2006 Presented by: Megan Slonski

  16. Agenda Introduction Problem Statement Evaluation of Current Practices Recommended Process and Benefits Financials Acknowledgements

  17. Introduction I have been busy… • Creating a thorough and cohesive project plan to act as the basis for a critical path analysis • Gathering information for E2 estimates • Helping implement the Action Item Tracking Sheet in a way that maximizes its value

  18. Problem Statement There is not a defined process based on best practices in place for managing projects. Recommendation: I have developed a process that I recommend either be implemented or be used as a starting point for the development of an efficient project management process

  19. Recommendation Details • Focuses on 4 Aspects of Project Management • Preparing estimates for Investment Council • Holding status meetings • Creating a project plan and managing tasks • Tracking action items • Based on inefficiencies of current practices and project needs that project managers are responsible to meet

  20. Evaluation of Current Practices General Observations • Fluidity of deadlines • Lack of accountability • Poor sense of team and communication • Lack of a clear, big picture throughout the team of how the project will be executed

  21. Evaluation of Current Practices Creating the project plan • Task List, Estimated Durations, Predecessors • Determining predecessors is time consuming • Tasks do not align between team members • Highly technical tasks hinder understanding of dependencies

  22. Using the project plan Evaluation of Current Practices • Tracking vs. Planning • Team members do not refer to plan • Not aware of critical tasks • Cannot prioritize work load accordingly

  23. Recommended Process

  24. The Estimation Workbook Recommended Process • Hold meeting to identify project milestones and deliverables • Team works offline to develop lists of tasks • Hold meeting to compile comprehensive task list and dependencies

  25. The Estimation Workbook Benefits • Clearer understanding of project tasks by all team members • Cost and duration totals broken down in several ways • Need for the PM to manually merge estimates is eliminated • Simpler design and linked worksheets reduce time spent by all resources

  26. Microsoft Project and the CPM Recommended Process • Create initial project plan with information from Estimation Workbook • Take a Microsoft Project training class to leverage all capabilities • Post project schedule on wall • Team use schedule to prioritize and manage work load

  27. Microsoft Project and the CPM Benefits • Substantially less time to create plan • More accurate sense of project end date • More likely on-time delivery because team recognizes and gives priority to critical tasks • Fewer project delays due to increased accountability and awareness of due dates

  28. Action Item Tracking Sheet Recommended Process

  29. Benefits Action Item Tracking Sheet • Action items all housed in 1 location eliminating need to search emails • Tracking ensures more thorough completion of action items and mitigation of risks • Due dates and updates at status meetings will help keep project on schedule

  30. Recommended Process Weekly Status Meetings • Weekly Status Meeting Agenda • Bring team up to date on status of project milestones • 2) Determine strategy for how to reach the next project milestones • 3) Identify next steps • 4) Discuss status of action items with pressing due dates or those pending closure through reports from each team member • 5) Come to a consensus to close any action items • Regards, Your Delivery Manager

  31. Weekly Status Meetings • All team members are aware of status of all areas of the project • Boost in communication and flow of ideas • Bring problems or roadblocks to forefront • Increase accountability and adherence to deadlines Benefits

  32. Recommended Process Main Points • Use the Estimation Workbook in place of STMate • Take full advantage of Microsoft Project and the critical path method • Use the Action Item Tracking Sheet • Hold status meeting where team reports on progress • Conduct a more in depth study to identify project management best practices

  33. Financials • 3 billion on technology projects • 1.2 million on DML/SLX Integration • 153,000 on project management • 205,000 each month over schedule • 14 million in International Non-custody revenue

  34. Acknowledgements We would like to thank the following people for their continuous support and help with this project: Danielle Rumore Brian Kenney Vitoriana Morais Arthur Gerstenfeld Mike Ciaraldi Marisa Giliberti Besley Nelson Reynaldo Generoso Peter Ennis Mike Salamina

  35. Questions and Comments

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