Our experience in the market shows: There are some hurdles and pitfalls to overcome when selecting a new custodian. Mastering these wisely in order to work with the most suitable partner at the end of the process requires a good selection process. We are happy to support you in this with our approach, which is based on comprehensive knowledge from a large number of projects.
Our advising model takes into account the following steps:
- Analysis and definition of requirements: When selecting a new custodian, we first ascertain the functional, procedural and technical requirements by way of interviews and workshops.
- Creation of the tender documents: After eliciting the requirements and defining the client-specific requirements, we use either a quick-check tool or a fully comprehensive due diligence questionnaire (depending on the complexity of the selection process). Our standard questionnaire, which comprises approximately 250 questions, serves as the basis.
- Evaluation of potential custodians: Based on the client’s individual requirements for a custodian, KPMG draws up a long list of suitable partners. The tender documents are sent to them. The documents that are returned are evaluated via a prepared scoring model so that a ranking of the most suitable custodians can be obtained.
- Workshops & management decision: Generally, the responses to the call for tenders already provide a good indication of whether a potential custodian fulfils the specific requirements. However, it is necessary to hold workshops to carefully and purposefully examine the services offered and compare them with better-practice approaches. This forms the basis for the management decision on the final selection of the custodian.
- Implementation and migration: Our experts are also happy to advise you throughout the entire implementation and migration process. Important milestones are the definition and implementation of a target model, the setup of framework agreements and SLAs, as well as test management and the final migration. This approach enables stumbling blocks to be identified at an early stage, risks to be highlighted and appropriate action to be taken.
Our holistic approach, across all phases of the custodian selection process, provides you with the professional and methodical security you need to enter into a custom-fit business relationship with a new custodian.
Have we got you interested? Then feel free to contact us!
