Supporting a complex Treasury Risk Management System (TRMS) like ION’s Findur without a robust and efficient support model can at times leave you feeling deaf and blind. Discover the best practices to ensure seamless integration, high performance, and effective collaboration between business and IT.
Life is either a daring adventure or nothing at all
Supporting Findur can sometimes feel more like an art than a science. With its wide range of functionalities and intricate architecture, Findur has a seemingly infinite number of things that can go wrong with it. Buried somewhere in its logs and history tables will be an answer, but it can take time, expertise and patience to seek it out. Supporting Findur can often feel like an adventure; venturing into the darkness to discover your answer. As a result, a Findur support model should be robust, responsive, and efficient. This white paper outlines the best practices for developing and maintaining an optimal Findur support model, addressing the challenges presented by it and similar TRMS.
We could never learn to be brave and patient if there were only joy in the world
Supporting something as labyrinthine as Findur presents several challenges due to its complexity and the critical nature of its functions. These challenges include:
Complexity of Integration
Findur interfaces with various other systems within an organization, such as ERPs, market data providers, trade execution platforms, and risk systems, etc. Ensuring seamless integration and data consistency across these systems is a major challenge. Just as important is being able to identify and correct any issues in a timely manner.
High Availability and Performance
Findur handles real-time trading and risk management operations, requiring high availability and performance. Downtime or performance issues can have significant financial and operational repercussions.
Customization and Configuration
Findur offers extensive customization options to meet specific business needs. This may be through UI configuration or one of the many scripting languages available (JVS, OpenComponents, etc.) available. Managing these customizations, including their impact on upgrades and system performance, is complex.
User Training and Support
You can have been using Findur for twenty years and still come across a useful screen or function that you have not seen before. New users of Findur require specialized training to effectively use its features. Providing continuous support and training to end-users is essential to maximize the system’s value.
Although the world is full of suffering, it is also full of the overcoming of it
To address these challenges, a best practice Findur support model should include the following key components:
Comprehensive Onboarding and Training
- New users should undergo comprehensive training programs that cover all aspects of Findur.
- This training should be tailored to different user roles, ensuring that each user understands how to leverage the system effectively. Ideally this should happen before their credentials are issued.
- Ongoing education and support should be provided to keep users updated on new features, changes, and best practices.
- Where possible, this should be backed up by documentation and training materials that users can refer to.
Proactive Monitoring and Maintenance
- Implementing real-time monitoring tools to track system performance, integration points, and data flows can help identify and resolve issues before they impact users.
- Scheduled maintenance activities, including system health checks, patch updates, and performance tuning, are essential to keep Findur running smoothly.
Robust Incident Management
- Develop a comprehensive incident response plan that outlines procedures for identifying, prioritizing, and resolving issues.
- This plan should include clear communication protocols to keep stakeholders informed. Tools like Jira can be used to track ongoing issues and actions.
- It is vital to improve the logging from Findur. The standard logging can produce a lot of noise making investigations harder. Enhancing the logging on all plugins will make root cause analysis for each incident easier. This will ultimately prevent recurrence and improve system resilience.
Effective Change Management
- Implement a rigorous change control process to manage system updates, configuration changes, and customizations.
- This process should include impact analysis, testing, and stakeholder approval. Maintain a clear version management strategy to track changes and ensure compatibility across different system components.
User Support and Feedback
- Establish a dedicated team to provide timely support to users. They should be equipped to handle a wide range of issues, from technical problems to user queries.
- Implement a user feedback mechanism to gather input on system performance and user satisfaction. This feedback can guide future enhancements and training programs.
- Perform regular ownership reviews of Reports, Plugins, Queries, Templates, etc. Identify those that have not been run recently or are no longer required and purge them from the system.
Collaboration Between Business and IT
- Foster collaboration between business and IT teams by forming cross-functional teams that work together on system enhancements, troubleshooting or large projects.
- Hold regular meetings between business and IT stakeholders to discuss system performance, upcoming changes, and any issues. Open communication channels help in aligning IT strategies with business objectives.
- The business team should also support the development and maintenance of user test cases and stories for regression tests, upgrades, and implementations of new functionality/features. This collaborative effort ensures that the system is tested comprehensively, and functions as intended after changes.
Third-Party Support
- Engage third-party providers with specialized expertise in Findur to complement in-house capabilities. Third-party support services can scale according to business needs, providing additional resources during critical periods and reducing the burden on internal teams.
Vendor Management
- Maintain strong relationships with vendors to ensure timely support and updates. Regularly review service level agreements (SLAs) and performance metrics to hold vendors accountable and ensure they meet organizational needs.
- Form strategic partnerships with key vendors, including ION, to gain access to exclusive resources, training, and early insights into product updates. That said, do not become beholden to the vendor and ensure you are aware of the alternatives in the market.
Optimism is the faith that leads to achievement
Our nirvana, our ultimate end goal, is to achieve a low-maintenance production support environment. A low-maintenance approach focuses on automation, simplification, and documentation, reducing the need for constant manual intervention and enabling the support team to focus on strategic initiatives.
Automation
- Implement automated monitoring tools to continuously check system performance, data integrity, and integration points. These tools can alert the support team to potential issues before they escalate.
- Generate automated reports on system health, performance metrics, and security status. These reports provide valuable insights and enable proactive decision-making.
- Invest in automated testing tools to streamline deployments of initiatives and greatly reduce the upgrade timelines.
Simplification
- Simplify support processes by standardizing procedures and eliminating unnecessary steps. This reduces the complexity of managing the system and speeds up issue resolution.
- Consider reverting to Findur’s core functionality and removing legacy customizations that add complexity and maintenance overhead. This simplification can improve system stability and reduce support efforts.
Documentation
- Maintain clear and comprehensive documentation for all aspects of Findur, including system architecture, configuration, and support procedures. Well-documented processes enable quicker troubleshooting and knowledge transfer.
- Use functionality like the visual designer and notes in TPM so that all key workflows are self-explanatory and documented within the system.
Alone we can do so little; together we can do so much
Supporting a complex TRMS like Findur requires a strategic and well-structured approach. The challenges are numerous. Through comprehensive onboarding, proactive monitoring, robust incident management, effective change management, stringent security, and user support, organizations can create a resilient support model and mitigate most risks. Surprises are rarely fun in this setting: put together a plan, establish procedures to implement and manage it, and your life will be easier.
Emphasizing low-maintenance production support enhances the model by reducing manual intervention and focusing on automation, simplification, and documentation. Additionally, fostering collaboration between business and IT, leveraging third-party support from experts like Lucido, and effective vendor management can significantly improve the overall support experience. Implementing these best practices ensures that Findur operates smoothly, delivering maximum value to the organization while minimizing risks and operational disruptions. If you would like any help implementing a similar Findur support model, please reach out.