How To Become A Solution Architect
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- Curtis Turner
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1 Amit Aggarwal
2 The Job Description of Solution Architect The job description for a solution architect can be broken down into relatively simple terminology. A solution architect is responsible for guiding the architecture, design and implementation of behind-the-scenes banking technology systems. A skilled solution architect understands the big picture, business functions and the strategic goals that the new solution must address. The solution architect must know when to apply creativity, business acumen and industry best practices, depending on the situation and the client. Perhaps the role of a solution architect is not so simple after all! This paper explores the complex role of the solution architect and focuses specifically on the key values that are necessary in today s financial services industry. These key values include a thorough understanding of the banking business. Our contention becomes that the quality of the solution architect s design hinges on his/her ability to understand banking. This understanding should encompass all aspects of the industry from business processes to regulatory requirements, to payment technologies. Armed with a comprehensive foundation of core knowledge, the world of financial services systems integration becomes his/her oyster. The Solution Architect s Varied Roles The solution architect captures business requirements and defines scope, creates designs and specifications, and determines the business effort in terms of duration and cost. The individuals who fill this role must possess excellent written and verbal communications skills and the ability to present to groups in a concise, yet thorough manner. Beyond these qualities, the role of the solution architect typically encompasses the following aspects: Requirements Qualification: The solution architect tries to understand the needs of the client, including where and how technology can assist them in meeting their objectives. In addition, the solution architect determines the feasibility of requests based on cost, timeframe and functionality constraints. Identify Scope of Effort: Any business consulting, systems integration and development efforts are determined and quantified. Based on timelines and budget requirements, the solution architect works with the client to define boundaries around the solution design in terms of scope and defining assumptions. Solution Development: Once requirements are determined, the solution architect then works closely with the client, as well as internal and external teams to construct solution designs, cost estimates and implementation plans spanning all systems involved. Solution Validation: A solution and timeline is developed and then reviewed and refined with the client and internal/external teams. Contract and Turnover: The solution timelines and costs are finalized and signed-off on. The solution architect constructs contracts and statements of work. In addition, the solution architect provides an overview to each team responsible for building out a component of the system. Finally, implementation is turned over to the team. Implementation Control and Monitoring: As teams develop a complex solution, questions will arise. The solution architect fields such queries, acting as the single point of contact for the new system, for both the client and internal teams. This practice also applies to future designs, enhancements and strategic direction. In addition, the solution architect reviews any functional documents produced to ensure the individual components are built to maintain the integrity of the overall solution. 3
3 Solution Architect Roles Requirements Qualification Identify Scope and Effort Solution Development Optimal Banking Technology Solutions Contract And Turnover Solution Validation Implementation Control & Monitoring The Solution Architect s Value to the Client A qualified solution architect inserts value into many different aspects of the project or solution they may be leading, such as: Providing Clarity to the Project Reduces Risk: The solution architect identifies each application that is required to make the solution work as well as articulates, in the terms familiar to the individual groups and the set of requirements for that component. Managing the Scope of the Project: As the solution architect constructs the new system, part of his/her role is to identify what is included and what is excluded in the final implementation. This helps quickly resolve scoperelated questions that may later arise. Obtaining Holistic Efficiencies: The solution architect s knowledge of banking products and services from a function, technical and business-related perspective provides expert insight. Reusing the full set of vendor and third-party products and services as opposed to constructing within a given application. Identifying commonalities among processes or components and building the component once. Identifying ways that components could be built more strategically to help with future growth needs of the client. Central Point of Contact: The solution architect acts as the central contact for the solution design, providing a single point of contact for clients, internal teams and third-party teams. This is an effective way to strengthen relationships with clients and assist them in planning future initiatives. Ensuring the Delivery of the Solution Meets Design Integrity Standards: The solution architect acts as a consultant and reviewer during the implementation phase of the project. This helps the client reduce project implementation risks by ensuring continuity throughout the duration of the project. This way, the solution architect can be sure that the details of the components are developed according to the client s requirements. 4
4 Solution Architect Value to Banking Clients Project Clarity Bank Client Central Contact Scope Management Holistic Efficiencies Design Integrity Banking Knowledge Improves the Design Possessing a broad and deep knowledge of the banking industry gives senior solution architects an advantage over their peers. For example, solution architects who understand the difference between a HELOC and HMDA can provide unique insight into complex financial services initiatives. In these days of increased regulatory scrutiny, scarce development dollars must be directed toward implementing fully vetted, well-designed technology solutions. Expert solution architects should be familiar with the following: Business Process Knowledge Regulatory Requirements Management Reporting Needs Payments Infrastructure Understanding Business Process Knowledge According to Davenport 1, business processes are: A structured, measured set of activities designed to produce a specific output for a particular customer or market. It implies a strong emphasis on how work is done within an organization in contrast to a product focus s emphasis on what. A process is thus a specific ordering of work activities across time and space, with a beginning and an end, and clearly defined inputs and outputs: a structure for action. Taking a process approach implies adopting the customer s point of view. Processes are the structure by which an organization does what is necessary to produce value for its customers. 1 Thomas Davenport (1993). Process Innovation: Reengineering work through information technology. Harvard Business School Press 5
5 Banking business processes then center around activities that create value for customers. Solution architects who understand these processes, such as loan servicing, account opening and stop payments can interject a test of reasonableness into new solutions. Solution architects can also apply technology in order to improve or optimize business processes, ultimately creating a more efficient bank. Benefits of a deep understanding of banking processes include: Eliminating unnecessary work that consumes time without adding perceived value in the eyes of the customer. Simplifying tasks that must be completed to produce quality service, achieve sales objectives and manage risk effectively. Utilizing available technologies more effectively and implementing new systems to improve processing throughput and ensure quality outcomes. Streamlining organizational structures to support both revised and enhanced workflows and achieve reasonable management spans of control across the company. Realigning responsibilities and tasks to ensure that personnel with appropriate skills are assigned to complete required work. Aligning goals and measurement plans with the strategic objectives and metrics by which the bank s performance is assessed. Regulatory Requirements Banking regulations encompass the laws or rules that make banking unique from other types of businesses. Many watchdogs exist in banking. A few examples include: The FDIC the organization that watches the health of all member organizations for protection of their insurance fund The Federal Reserve the organization responsible for governing large, global banks The Securities and Exchange Commission This organization monitors publicly traded, large bank holding companies Although solution architects do not come from bank compliance organizations, it is imperative that they possess a basic understanding of the prevalent rules governing the banking industry. Certainly, the architects will be provided with resources to help them understand and interpret this information. Then, as initial designs for new systems evolve, their interjection of regulatory requirements can help move initiatives in the right direction. Just a few regulations that may arise during projects include: The US Patriot Act and Know Your Customer requirements Regulation E governing electronic funds transfers and protecting consumers The Community Reinvestment Act Loan portfolio reporting requirements which are gaining prominence due to the recent distress of many banks Regulation Z governs truth in lending requirements Management Reporting Needs Banks share the need to report certain information to key stakeholders. The Board of Directors will want enough data to keep tabs on the health and performance of the bank. The regulators (examiners) will request specific reports and information on both a regular and ad hoc basis. Senior management will also create a specific set of demands to keep tabs on the institution. 6
6 A seasoned solution architect can anticipate some of these reporting needs and ensure certain solutions are designed to accommodate future reporting requirements. Good design allows for access to both financial and transactional data. Solution architects can help ensure solutions create the data that will satisfy key stakeholders needs for information. In addition, they will understand the reporting differences between a bank, bank holding company, thrifts and credit unions. Payments Infrastructure Understanding It has been said that the payments system is the last unique advantage banks have within the U.S. economy. Most of the solutions designed by solution architects in the banking industry will touch some element of the payment system. In order to leverage this truly unique advantage, the solution architect must understand the capabilities and functionality of all payment mechanisms. A skilled solution architect with an insider s knowledge of banking products and services will understand the fundamentals of the following: ACH and the NACHA rules Wire transfer capabilities, both domestic and international Check imaging systems and exchanges Item processing Debit card processing Credit card processing ATM networks and interchange Bill payment alternatives Solution Architects in Action Putting it all Together Armed with in-depth banking knowledge and a wide set of technical competencies, what kind of financial systems do these unique individuals design, monitor and implement? The following scenarios provide real-life context to the value banking expertise and understanding brings to the system development and implementation. Scenario One: Direct Banking Made Real A large financial services organization (not a bank themselves) wanted to create their own branded direct bank. Due to competitive and market pressures, this newly formed direct bank had a very short time frame to go live, as they planned to initially offer CDs and high-yield savings accounts. The solution architect assigned to this project needed to craft a unique, but easy-to-implement solution that depended on a series of existing applications: an online account-opening application, a retail online banking product, a deposit system, a fully staffed call center and a third-party fulfillment operation. Each of these elements had to work together in a fully functional system that went live in just six months. In this type of development effort, the solution architect served as a matchmaker, bringing the correct parties to the table with the financial services parent. That parent wanted to exceed current features of the existing applications. The solution architect delivered what was currently possible, while helping to define a realistic future for the bank. How well did the various pieces come together? As of September 2009, the direct bank is reporting $15-$20 million in new deposits on a daily basis! Scenario Two: Making Existing Technology Bend to the Customer s Will A large bank needed to provide their large corporate customers with an automated reconciliation process that would operate on a real-time basis throughout each business day. With this advantage, the bank planned to retain and acquire valuable new commercial business. An issue surfaced with the existing middleware between the 7
7 bank s deposit system and their treasury management platform. The time sensitivity of the balance reporting could not be met with the existing configuration. Enter the solution architect. A solution architect explained the timing requirements to the development staff and worked through a new and unique technical solution that bypassed the middleware entirely. A batch file report created at frequent, set intervals throughout the day, created the data files needed for the automated reconciliation to occur. The design also accommodated a lockbox reporting requirement that would feed the treasury management platform with that sensitive information on a timely basis. Corporate customers were retained much to the delight of the bank s cash management team. Scenario Three: Filling the Gaps for a Non-Traditional Bank A non-traditional bank wanted to turn their national agent network into specialized banking branches. Each agent would become responsible for gathering deposits and initiating customer loans. This created a series of challenges with the existing technology at hand. Solution architects worked in a multi-year effort to identify, quantify and fill the gaps between the technology and the non-traditional bank s business objectives. An example of a unique aspect of this project was the identification of best-of-breed applications by the solution architects. Certain projects, such as the collections applications, relied on a third-party system. The solution architects helped design the solution with representatives from the other organization and they also designed tools to de-convert data from an existing collections application. This ability to supply conversion tools was predicated on the architect s understanding of bank conversions/de-conversions and a willingness to step outside of his/her company s existing collections capabilities. Summary Many other examples exist in which solution architects apply both banking knowledge and technical savvy in order to meet unusual client requirements. The characteristics that best describe these valuable individuals are: Out-of-the-box thinkers Extreme client advocates Doers not just abstract thinkers Renegades For More Information To learn more about the value of solution architects with banking expertise, call , and ask to speak with one of our consulting professionals, or visit fisglobal.com. 8
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