State Street

State Street Corporation is an American financial services and bank holding company headquartered in Boston, MA with operations worldwide. It is ranked 15th on the list of largest banks in the United States by assets, and is one of the largest asset management companies in the world with $2.5 trillion under management and $31.6 trillion under custody and administration. The company is on the list of the banks that are too big to fail published by the Financial Stability Board.[1]

Keeping an organization that operates on that scale in compliance in the ever changing world of international financial regulations is a daunting task, so much so that even the basic operation of adding a new Salesforce User could be fraught with unforeseen security risks. State Street needed a simple way to maintain their compliance and data security practices while also streamlining their employee management workflow.

We partnered with Sales and Legal advisors in NA, EMEA, and APAC to get down to the nuts and bolts of what the requirements for sharing and visibility permissions should be before ripping apart the 600+ Role Hierarchy and 400+ Sharing Rules and implementing a minimalistic dynamic solution, cutting those numbers by 80%.

By centralizing and operationalizing the legal and regulatory requirements into an automated workflow, the previous timeline of User management was decreased from weeks to days. Additionally the number of instances of employees needing to submit a Case requesting manual override of security settings decreased by 70%. As a result interdepartmental relationships deepened and executive confidence in the system improved.