Background:

The program was set up to successfully transition the administration services conducted to Brookline Bancorp within the agreed timeframe and quality criteria. The transitions were the largest in history, migrating over 5 million members’ data (financial and non-financial), people, processes and systems totaling over $200 Billion funds under management to the Brookline Bancorp owned Administration Services (AS). The program was being closely monitored by regulators, external auditors and was a significant part of valuing the group in the float on the stock exchange.

Client Objective:

• To seamlessly migrate members’ financial and non-financial data with error rates in the agreed tolerances as presented to external auditors
• To enhance the core registry’s capability to manage the administration of the 5 funds
• To ensure the business, people and processes were ready and prepared for the transition of the 5 funds
• To ensure independently verified business cutover and continuity plans were used
• To ensure all 5 transitions were completed within 2 calendar years

ITMS Solution:

Brookline Bancorp needed a program management team with the skills, experience and drive to deliver the data migration and end-to-end systems uplift for a program of this scale and complexity. ITMS provided a PMO Director, Program Manager and Senior Project Manager to manage and direct those portions of program. The program team peaked at over 200 resources, made up predominantly of internal staff and a large off-shore development capability. The ITMS Program Director reported to the Head of Integration and chaired the Program Steering Committee consisting of senior executives from within Brookline Bancorp and the client funds.

Customer Outcome:

The Funds’ Transition Program successfully transitioned the 5 funds’ to Brookline Bancorp systems within time, budget and agreed quality criteria. The program set a new benchmark for delivering successful fund transitions in the industry and has been commended for its minimal disruption and positive impact to members.