Guggenheim is a privately held global financial services firm with more than $200 billion in assets under management, providing asset management, investment banking and capital markets services, insurance, institutional finance, and investment advisory solutions.
Guggenheim was experiencing rapid growth due to their strong reputation within the financial markets. As a result of ongoing expansion, operational headcount was rapidly increasing, and they began to outgrow many of their operational and technology processes. This resulted in the need to implement new technologies and processes to enhance key operational functions across the front, middle, and back office. Maven Wave and Guggenheim have a longstanding partnership in which Maven Wave is called upon to deliver complex and mission-critical projects.
Maven Wave led the vendor system implementations for Guggenheim’s Investment Performance, Investment Accounting, and Equity Trading systems (StatPro, ePAM, and Charles River). In addition, Maven Wave led the data quality assessment to recommend and implement operational and technology improvements across the front, middle, and back office. This process included gathering requirements, business systems analysis, QA/testing, and report development for implementation of an enterprise-wide data warehouse. Finally, several processes were re-engineered to increase automation and standardization of cross-departmental workflows.
- Reduced processing time from weeks to hours for core reporting functions. This allowed management to re-allocate resources to focus on revenue-generating tasks.
- Implemented daily straight-thru-processing of order management system and accounting system into a centralized data warehouse.
- Increased reporting frequency from monthly to daily for a set of critical reports needed by the Chief Investment Officer.
- Identified and resolved over 100,000 data anomalies by implementing new data quality policies and controls.