Engagements completed by the Sentinel Project Management team (partial list)
Core system contract review, risk assessment and conversion project management
The SPM team conducted a review of a bank’s core system invoices going back nearly six years and discovered over $950,000 in erroneous charges that were subsequently confirmed by the vendor. Continued overcharging attempts and service issues caused the bank to expand the engagement to include a comparison of other core vendor offerings, which led to the successful conversion to a new core system that more closely matched the bank’s long term strategic plan. The new core system and ancillary products delivered improved efficiency and competitiveness with significant cost savings.
Credit Union application for expansion of its field of membership
A Los Angeles based credit union was seeking to expand its field of membership to San Diego County and engaged SPM team members to complete the risk assessment, expansion business plan, impact research in the credit union market and pro forma financial impact on the credit union. The result was the approval of the application to expand the field of membership by the credit union’s regulatory authority.
Upgrade internal and regulatory reporting, budgeting and forecasting system
A bank had purchased a license for a reporting application but did not have the internal capacity to oversee the project or provide data required for the new system. SPM was engaged to fulfill the formatting of core data extracts needed for the new application. SPM worked with bank staff and the vendor to provide the data and format output reports that significantly reduce the need for manual reports.
Enterprise business continuity plan
A credit union that had expanded its product offerings to businesses engaged an SPM team member to update and expand its business continuity plan program. A risk assessment was completed, as well as business impact analyses for each department and product. From this work, specific procedures were completed to ensure that all risks identified in the risk assessment were adequately addressed. The BCP program was approved by the credit union’s regulatory authority.
