Global Pension Fund Electronic Funds Payment Process Diagnostic and Design

A Global Pension Fund settled its trade transactions with counterparties through electronic funds payments, or wires.  The process to prepare, approve and release the wire payments was non-standardized, resulting in 13 distinct value streams across the organization, involving 7 operations teams.  The current state processes also had poor controls allowing the operations teams to approve in batches and release the funds directly in the banking application system.

Most of the processes involved Treasury Operations, however there were 5 processes that Treasury Operations had little to no oversight on.  These involved daily wire transactions made with counterparties.  An internal project team had been launched to move processes onto a standardized Treasury workflow system.  However, the operations teams were concerned with the potential of increasing time spent on administrative tasks associated with wire payments.

Global Pension Fund Electronic Funds Payment Process Diagnostic and Design

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