Consultancy Solutions

Our experts bring their experience to your data challenges.

We’re a team of independent data consultants who’ve been working in the finance sector for years. We work with DB and DC pension schemes in the public and private sectors, helping them support their business goals. We also work closely with insurers, HR Directors, sponsors and payroll providers.

We share what we’ve learnt across the industry, to help you approach your data challenges and make better decisions.

Who we are

Our team of consultants have a combined experience of more than three centuries in the finance sector. We’ve worked with hundreds of pension schemes, insurance providers and administrators to help their data drive them forward.

Throughout the years we’ve developed our proposition, adding additional data and administration skills and applications, as well as advances to our data analytic technology based on clients’ needs. We bring an independent and objective approach, helping you see the details and understand how to use the insight.

What we do

Our data consultants work closely with you to define your objectives and develop a data strategy to get you there. We’ll carry out an initial analysis of your scheme, the type of data you have, where you hold it and what you’d like to do with it in the future.

We pride ourselves with helping clients :

Reduce risk

  • Analyse your data to identify and correct incorrect benefits
  • Cleanse your data to correct historic issues
  • Avoid fines by assessing your GDPR compliance
  • Assess your data quality and risk assessments
  • Comply with legislation and regulatory standards through accurate and efficient record keeping
  • Support accurate liability calculations and compliance with Solvency II

Create efficency

  • Data cleansing to reduce cost spent on overpayments
  • Auto enrolment data audit and reviews
  • Operational efficiency through automation and process reviews
  • Decommissioning expensive legacy systems used purely for data storage
  • Straightforward data migration
  • Back office administration and IT support
  • Reconciliation exercises to reduce overpayment
  • Liability planning

Be future ready

  • Preparing your data for a new system/platform
  • Improving customer engagement through cleansing and data enrichment.
  • Improve customer experience with efficient processes
  • Support you with GMP equalisation
  • Help you prepare for the Pensions Dashboard
  • Outsourcing back office support, giving you time to focus on growth.
  • Demonstrate good governance practices

Who we support

We support and advise many of the industry’s largest pension schemes. Our extensive experience means we can help you to tackle the challenges you face in a considered and timely way. All our services are complemented by our technology, giving you complete control and visibility.

We support and advise many of the industry’s largest pension schemes. We have heaps of experience and can help you to tackle the challenges you face in a considered and timely way. All our services are complemented by our technology, giving funds pension providers complete control and visibility.

Hot topics for pension schemes

  • Complex liability management exercises – such as buy ins/buy outs, Pensions Increase Exchange (PIE), longevity swap and trivial commutation – where the quality of data plays a pivotal role in determining positive financial outcomes.
  • GMP reconciliation and equalisation is firmly on the agenda as Trustees aim to avoid the miscalculation of member fund values and ongoing administration repercussions.
  • Compliance with The Pensions Regulator’s guidance on record keeping, which extends to public sector schemes. Good governance also means the necessity to safeguard pension funds against data security breaches and the ongoing threat of fraud and identity theft – issues that we’ve built specific systems and procedures to combat.
  • Pension Dashboard ready – schemes need to realise the value of accurate data as they consider how they might approach the Pensions Dashboard. We’ve gained unique insight through our work on the Pension Dashboard prototype project and continued industry engagement.
  • Review of current administration strategies, SLAs, contract and operational process, mitigation of administration risks, system strategy and portability and functionality reviews.

Compliance with the General Data Protection Regulations, where schemes are paying more attention to specific data management policies.

These all sound like mammoth tasks to contend with, but we can help you to take on these challenges in a considered, cost effective and timely way. Our team of  consultants work in collaboration with you, on or off site, on short or long-term projects.

We believe positive outcomes for members stem from a solid administration infrastructure. You can master good administration through a combination of correctly skilled people, systems and processes. This holds the key to nimble and efficient operations, especially in an industry experiencing constant change.

We advise administrators who manage a range of schemes, wealth managers who oversee individual policies, and other organisations responsible for a portfolio of insured schemes.

Our Partnership

We work alongside you on a strategic level to ensure that you plan, not only for the long term, but also address any short term requirements.

We also offer back office systems to help you with administration and IT support, giving you the flexibility and assurance to maintain excellent service. We can help with the onboarding of new clients, whilst providing certainty around costs and resources.

We’re in a period of change and opportunities for workplace pension providers and wealth managers. Defined Benefit schemes continue to insure their liabilities and members’ futures in new ways, all exposing the importance of data quality and how it could become pivotal to the level of commercial return.

Hot topics for insurers

  • Platform and data migration projects, including the decommissioning of legacy and under-utilised systems. Our solutions are built on proven, swift and repeatable methodologies for mapping vast quantities of member data to new systems.
  • De-risking – we support clients with data audit and cleansing, including providers of bulk annuities along with the UK’s largest ever longevity swap. We uniquely enjoy a 360 degree view of transactions often working for trustees, buy in/out insurance providers, employee benefit consultants and longevity re-insurers, adding valuable insight and intelligence to the process.
  • Pensions Dashboard  – helping clients realise the value of accurate data as they consider how they might approach the Pension Dashboard. We’ve gained unique insight through our work on the Pension Dashboard prototype project.
  • Developing scalable propositions – we’ve advised workplace pension providers and wealth managers to develop scalable propositions for their individual customers. This could be to consolidate old and legacy pensions and policies into their current plan. Our member portal brings efficiency, ease of use, scale and audit trails to the process, coupled with our vast experience conducting pension and asset consolidation into WRAP, SIPPs, GPPs and other workplace pension vehicles.
  • Efficient operating models, achieved through rationalisation of operating systems, presenting new routes to market. Clients we work with will emerge from the process with competitive advantages, placing themselves in a position to attract life-long customers and lower operating costs.
  • Keeping up with regulatory changes, you may identify an opportunity to implement new operating models. Some clients find these projects lead to outsourcing of no longer viable in house support services. We can help, giving you back time and resource to develop your market proposition.

The quality and accuracy of employee data has never been more important to companies and HR departments. Regulations like GDPR and Gender Pay reporting have put employee data under the microscope.

We’ve been supporting and advising clients in the finance sector for years, and with auto enrolment, the focus has shifted towards payroll and HR. This shift has enabled us to review and improve the support we provide to HR departments. Our specialist knowledge around data analysis, cleansing and migration can support you.

We can help with

  • Data consolidation from legacy sources and mapping for migrations to new HR software
  • Data analysis to ascertain the quality of employee data held and identify remedial
    action
  • Data cleanse to correct historic data issues
  • HR data consulting to minimise future corruption of employee data
  • Archiving historic employee data
  • Ensuring your data is ‘cloud ready’ for the abundance of new HR software
We’ve found that clean and accurate data is not only crucial for traditional HR tasks, but also for operational analysis, budgeting and strategic forecasting.

Our software, known as eSuite, can help you with in depth data analysis and cleansing, through to archiving.

What makes us specialists?

Our extensive experience can help you put your data to better use, driving your forward rather than holding you back.

We take a client centric approach. Our consultants get to know you, your business and your needs through careful analysis, finding out

What you have

We look in depth at all the data sets you hold, then devise a plan for extraction, data analysis and reporting. We also look at data which you need to keep, and data which is no longer important to you.

Where you hold it

We examine all your systems, be that older legacy systems to modern applications and software.

How you organise it

We look at how you currently store and access your data. We bring fresh industry insight to find ways to map and amalgamate data so that it is useful to you.

Why you use it

We work with you to assess how you use your data, finding ways to make the most useful data sets accessible to you, archiving older data sets and removing data you don’t need.

From the design of the initial approach through to the execution of the go-lives, ITM both led and supported our programme to provide an excellent outcome that met all of the success criteria that we set out to achieve.

Head of Transformation 

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