case studies
Financial services
Individual Savings Account (ISA) Operational Design
- Client
- Investment subsidiary of UK Clearing Bank
- Sector
- Financial services
Project description
The introduction of the ISA, to replace both PEPs and TESSAs as tax-free savings vehicles, introduced new operational and compliance requirements.
In order to ensure that the Bank would be able to administer ISAs from their launch date, they needed a high level operations design for ISA sales and service across multiple dimensions including:
- documentation
- site of operations
- communications between divisions
- establishment of call centre
- resource and space requirements
- audit requirements
- regulatory implications
- complaints handling
ItemPlus created the high level operational design covering all these issues.
Outcome
The Operational Design was accepted and agreed and has been used as the basis for more detailed procedural design.
