Success Stories

Financial Services

Financial Services has been an area of specialty for us for over 12 years, Capital Markets, Risk Management, Wealth Management and Insurance (Life and P & C) are areas that we've concentrated on - and had the greatest success.

We are approved vendors with 5 Canadian Banks, and 4 major Life and P&C Insurance companies, and are actively working with their IT organizations placing full-time and contract resources. The following are some examples of our recent work:

Mid Office, Integrated Credit System
Provided technical resources to a Canadian Bank to design, develop, integrate, test and support changes to a Global Integrated Credit System and related applications.  The team Interacted with Middle Office and Risk Management personnel to identify solutions to credit risk and related functions.  Application system extracts derivative trade, market, client, and other data from various source systems and calculates/reports the daily credit exposures and weekly capital requirements of the Capital Market trading portfolios.  

Derivative Trading and Risk Management
For an Analytics Software vendor partnered with one of the large Canadian Banks, ProVision was engaged in the development of a new Global Cross-Asset Trading platform. Component-based object design and development used C#, .NET architecture and incorporated functionality for managing credit, fixed income and equity derivatives, and provided real-time risk management features. Our role encompassed the provisioning of a team of technical resources including: Architect, .Net Environment Specialist, Financial Subject Matter Experts, C#, .Net Developers and Software Testers.

Universal Life Insurance
Business Systems Analysts were provided for an implementation of Ingenium enhancements to support Universal and Term Life Insurance policy management and administration. The assignment involved gathering and documenting detailed business requirements, translating them into functional specifications, and preparing system technical design documents and test plans.

Global Foreign Exchange Trading & Funding - Wall Street Systems project
ProVision was engaged to provide a number of resources with specialized subject matter expertise in the areas of Foreign Exchange, Actuate forms/report development, and J2EE/Java program design and development skills. This multi-year project involved changes to replace an existing system with the customized implementation of a vendor solution from Wall Street Systems.

Credit Risk Management System
ProVision participated in the implementation of a Credit Risk Measurement and Management system. Team members applied leading-edge credit risk measurement methodologies and solved challenging systems integration and quantitative issues. This included modeling pricing functions for equities, commodities and credit derivatives. This project required research into the pricing functions and the building / testing of a system that calculated credit risk on various exotic credit derivative products. Technical environment consisted of Unix, C++, Perl and Risk++ (Algorithmics Risk Object Library).

Market Risk Support
ProVision provided talent to take on responsibility for maintaining change within the Market Risk system -- supporting mid and back office users and coordinating problem management issues. Communicated with quantitative analysts and programmers to resolve problems and prepared test plans to test the resulting patches. Utilized Linux-based problem logging tool, Unix technical skills and extensive Unix shell scripting.

Basel II
Senior Business Analysts, Project Manager and Quality Assurance specialists were utilized on this major project to provide enterprise wide Risk Weighted Asset and Capital Adequacy Reporting implentation related to the implementation of a Basel II reporting solution.

Wealth Management
ProVision provided resources to develop solutions enabling investment selection, real-time trading and straight through processing of equity, option, fixed income and mutual fund transactions. Resources were engaged to develop Financial Order Management and Trading applications using C++ and object-oriented design and development, in this distributed,  n-tier environment for Unix and Windows NT/2000/XP platforms.

J2EE/Java Developer
Development resources with subject matter knowledge in capital markets, were provided for this major project custom implementing a new Calypso Derivative trading application. The first product to be implemented was for Credit Derivatives replacing the existing vendor solution (Atlas).