Deals

Amazing Savings

Barclays capital

McAfee waived 100% of software maintenance fee of $260K for Smart Filter.
How: Read More

Consolidated and led negotiations for Barclays Capital, Barclays Bank PLC and Barclaycard (UK). Analyzed contracts and aligned parties across the supply chain from OEM (McAfee) to Reseller (Vistorm) to Parent Company (HP). Leveraged massive technical failures at Barclays Bank PLC for lower maintenance rates and a complete waiver of costs at Barclays Capital.

The Bank of New York Mellon

Supplier provided a cost avoidance of 83% for license fees of $374K for its H&W SYSB-II mainframe software.
How: Read More

The supplier had priced the product for the entire mainframe. It was only needed on 1 partition!

The Bank of New York Mellon

Supplier provided a cost avoidance of 66.8% ($1.56M) for the $3.2M printing and mailing of Pershing Account Kits.
How: Read More

Procurement identified a low-cost BNYM overnight mailing contract and found a way to use it at the Broadridge supplier site without re-shipping. The use of this contract also created a revenue opportunity of $1.25M for BNYM services to broker dealers.

The Bank of New York Mellon

Supplier reduced by 80% its proposed changes in software licensing for its Business Performance Management Software.
How: Read More

Infor sought to substitute a “named user” licensing model for a long-established “concurrent user” model. Procurement escalated to the top executive for North American Sales to hold the line.

Audit Gems

In Internal Audit, Jay uses his expertise, creativity, and diligence to provide breakthrough insights to executives and stakeholders in information technology, regulatory compliance, and financial operations.

Leading Chinese Bank

Remediated portfolio of Foreign Correspondent Banks. Used guidelines from FFIEC, SWIFT, and Wolfsberg to address data-integrity gaps affecting SWIFT payments. Identified incomplete screening in PRIME Geography Profile.

top anglo-asian financial firm

Supported Big-4 firm in mitigating OCC findings and fines on AML/KYC/BSA.
Read More

Analyzed OFAC violations at client firms relative to Japanese government agencies and trading companies. Applied World-Check, Lexis Nexis, OneSource, Bankers Almanac, Bloomberg, and CIA World Fact Book to analyze and rate high-risk clients.

us financial-services leader

Reviewed IT issues and their Corrective Action Plans and authored Issue Validation Work Papers for Consumer Card IT initiatives:
Read More

  • Identified fixes for Macy’s Point of Sales and Credit systems that capture “other payer” information for Currency Transaction Reporting
  • Discovered undocumented mortgage program through validation of the User Acceptance Test, Business/compliance Review, and system corrections for the CARD Act for operations in Guam.
  • For the global decommissioning of prepaid cards, created IVWPs for North America, India, Brazil, and El Salvador.
  • Examined exit plans, program volumes, data files, and other key artifcats.

Case Studies

health benefits for merger

The Bank of New York and Mellon Corporation sought to integrate Health and Welfare Benefits for their merger. Jay led HR executives in negotiating a Business Process Outsourcing (BPO) Agreement, Statement of Work, and Service Level Agreements.
Read More

He created a $5M funding proposal covering forty cost elements in three environments across three contract periods and three budget years, all non-overlapping. The parties met their integration deadline with a carefully managed transition from co-sourcing to full outsourcing.

Web hosting agreement

The supplier hosting the website for the AARP division of New York Life declined to provide discounts for a renewal of the contract. Jay aligned with the key business stakeholder on a discount of 20% and informed the supplier that if continued to be non-competitive, NYL would issue an RFP.
Read More

The supplier provided the 20% discount. Jay achieved additional savings by using an existing corporate contract for required third-party software. Jay negotiated full IT Security schedules on behalf of the Associate Director of IT Security.

Future state of compliance

A leading global bank required a bankwide consulting engagement for Future State of Compliance to begin within one month’s time. Jay issued the RFP on a single afternoon to two of the Big 4.
Read More

He fully negotiated a Statement of Work with the top contender. When business priorities changed, he fully negotiated an SOW with the other firm. Jay closed the deal within one month and secured uncharged services of $200K on a proposal of $850K.

risk control matrix for it procurement

An executive of the Bank identified losses of more than USD 1M as catastrophic. Jay examined decision-making processes for the acquisition of technology and created a risk-based controls matrix applicable to key stakeholders.
Read More

Jay explained technology procurement in layman’s terms. His article was published in EDP Audit, Control, and Security Newsletter, 36 (3-4), pp: 13-25 (2007) and cited in Protiviti KnowledgeLeader (January, 2008), 10.1080/07366980701815421.