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Delivering Large Post-Trade Initiatives: Quality Assurance and Key Challenges
The document discusses effective quality assurance (QA) techniques in the context of large post-trade system initiatives, emphasizing the importance of high-quality staff, independent measurement, and efficient test processes. It outlines the challenges faced in post-trade testing, including complex multi-step scenarios and limited test availability, and proposes solutions such as automation and thorough planning. The conclusions stress that a well-functioning QA team enhances team dynamics and project outcomes significantly.
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Delivering Large Post-Trade Initiatives: Quality Assurance and Key Challenges
- 1. How Highly EffectiveQuality Assurance Techniques Can Make A Positive Difference In Delivering Large Post Trade Systems Initiatives Post Trade Forum, Vienna 11 September 2014
- 2. Exactpro Company &Experience Exactpro is: 2 • A specialist firm focused on functional and non functional testing of wholesale financial products systems • An independent company incorporated in 2009 now employing over 240 specialists Our locations in Russia: • A US company with four QA & development centres in Russia and sales support in the UK • Mostly engaged in trading platforms for exchanges and brokers, but also significant post trade experience
- 3. Introducing Your Speakers 3 MarkRyland Strategic Adviser to Exactpro • Financial Consultancy and QA of complex Risk Management solutions, including calculation algorithms • BA for Collateral & Risk Management for investment banking; • QA Delivery Manager for large Post Trade projects Alyona Lamash Head of Exactpro Risk Management Practice • IT Manager/CTO • Banking & Market Infrastructure • Trading and Post Trade • Insight and experience of QA
- 4. Talk Content PART A Challengesthat Affect Large Projects - in General How Great QA Techniques Can Help – Generically PART B Challenges that Affect Post Trade Initiatives – Specifically QA Techniques that Help Post Trade Initiatives - Specifically 4
- 5. Testing Making a PositiveContribution to the Whole Responding to Issues/ Unknowns Detailed Functional Understanding Achieving & then Maintaining Test Automation Speed of Test Execution Clarity & Accuracy of Test Results and Defects Reporting 5 Testing a Large System Poses ChallengesPART A: Full Test Coverage
- 6. How Can EffectiveQA Be Part of The Solution, Not Part of The Problem • GENERIC – Highly capable people with the right behaviours – Efficient and effective test process – Right use of technology – Independent & objective measurement of progress – RESULTS IN GREAT TEAM DYNAMICS ACROSS THE WHOLE PROJECT TEAM 6
- 7. Make a PositiveContribution to the Overall Team 7 Conception Initiation Development Test Implement Project Sponsor Project Manager Business Analyst Architect/Designer Development Team QA Team Production Team
- 8. Make a PositiveContribution to the Overall Team 8
- 9. Make a PositiveContribution to the Overall Team 9 Pacemaker(s)
- 10. 1. High Quality Staff TheElements of Highly Effective QA - 1 10 3. Energy, Enthusiasm & Proactivity 2. Deep Domain Knowledge 4. Creativity & Flexibility in Problem Solving Highly capable people with the right behaviours
- 11. 8. Test Execution & Reporting 1.High Quality Staff 3. Energy, Enthusiasm & Proactivity 5. Planning & Delivering Ability 2. Deep Domain Knowledge 4. Creativity & Flexibility in Problem Solving The Elements of Highly Effective QA - 2 11 7. Defect Reporting & Evidence Highly capable people with the right behaviours Efficient and effective test process 6. Test Case Quality
- 12. 6. Test Case Quality 8.Test Execution & Reporting 10. Range of Excellent Automation Tools 9. Detailed Management of Test Environment The Elements of Highly Effective QA - 3 12 7. Defect Reporting & Evidence Right use of technology 1. High Quality Staff 3. Energy, Enthusiasm & Proactivity 2. Deep Domain Knowledge 4. Creativity & Flexibility in Problem Solving Highly capable people with the right behaviours 5. Planning & Delivering Ability Efficient and effective test process
- 13. Some of ourDynamic & Talented Team 13
- 14. Independence & Objectivity 14 1.Understanding of Requirements1. Understanding of Requirements 2. Delivery of Solution2. Delivery of Solution 3A. Independent Measurement by QA Team 3A. Independent Measurement by QA Team 3B. Independent Measurement by High Quality QA Team3B. Independent Measurement by High Quality QA Team DeveloperDesigner Business Analyst Business Manager End Users
- 15. Team Dynamics Whenthe QA Team is Excellent 15 DEVELOPERSDEVELOPERS Try harder to get it right in the first place Get rapid/timely feedback on what’s wrong Work harder to solve defects to keep the project on track Try harder to get it right in the first place Get rapid/timely feedback on what’s wrong Work harder to solve defects to keep the project on track ANALYSTS AND DESIGNERS ANALYSTS AND DESIGNERS Have clear problem statements to work from – with detailed supporting evidence Have clear problem statements to work from – with detailed supporting evidence SPONSORS & PROJECT MANAGEMENT SPONSORS & PROJECT MANAGEMENT Have (justified) confidence in the system Fewer problems are going to be found when Live Project will cost less Have (justified) confidence in the system Fewer problems are going to be found when Live Project will cost less
- 16. 16 Features of ComplexPost Trade InfrastructuresPART B:
- 17. 17 Features of ComplexPost Trade Infrastructures
- 18. 18 Collateral Upload Risk Run Margin Call Risk Run Trade Input Trade Input Settlement Run Trade Date Settlement Date Simulate Delivery Failure Trade Input Trade Input Day 1 Examples ofTest Scenarios (Before We Get to Specific Problems) Penalties BUY IN Cash Settlement Risk Run Trade Input Day 2 Risk Run Corporate Action Trade Input Day 3 Risk Run Settlement Run Trade Input Trade Input Collateral Deficit Delivery Default Corporate Action Delivery Default Delivery Default
- 19. 6 Resulting ChallengesFrom a QA Perspective 1) Testing of complex multistep scenarios 2) Limited test availability of downstream and upstream systems 3) Most of endpoints are accessible via API or File exchange (no GUI) 4) Reference Data setup or migration 5) Complexity of Risk Calculation Algorithms 6) Regression Cycle for a substantial number of test scenarios 19
- 20. Solving: 1) Testingof complex multistep scenarios 20
- 21. Solving: 1) Testingof complex multistep scenarios 21
- 22. Solving: 1) Testingof complex multistep scenarios 22
- 23. Solving: 2) Limitedtest availability of downstream and upstream systems 23
- 24. Solving: 2) Limitedtest availability of downstream and upstream systems 24
- 25. Solving: 3) Mostof endpoints are accessible via API or File exchange (no GUI) 25 REQUEST RESPONSE
- 26. Solving: 4) ReferenceData setup or migration 26 Reference Data required for Testing Data Management Tools Production Data Migration Tasks
- 27. Solving: 5) Complexityof Risk Calculation Algorithms 27 Test Model
- 28. Solving: 6) RegressionCycle for a substantial number of test scenarios 28 Test Library (100K Test cases) Test Tools Automated Test Scripts Controlled Test Environment Automated Regression Run (“The Big Button”)
- 29. A Holistic IntegratedAutomated Test Solution 29
- 30.
- 31.
Editor's Notes
- #3 Post Trade Experience Newclear initiative with MIT & LSEG OEKB Project – Cash Equities and Fixed Income Tools for T2S LME Clear – Listed Derivs Singapore Project
- #9 All large projects that are realised are the result of a team effort Never seen a successful project that did not rely on stong contributions from several parts of the project team Challenging projects call out something extra and it’s usual to see some individuals make outstanding contributions to the whole Observing and being part of that is one of the most rewarding aspects of large project work = buzz, camaraderie, satisfaction of doing an excellent job
- #10 Proposition for the Talk Thesis is that certain parts of the project can provide an exceptional contribution that raises the game of the others Look for image of a race with a pace maker The pace maker carries everyone else forward, others need to make an effort to keep up otherwise they can fall behind In the analogy the paced could come from any part of the project team You might expect it to come from the sponsor or the development manager of project manager or maybe the architect or lead analyst – in fact in a well performing team its likely to come from more that one place, but my thesis is that one of the places it can come from if the QA team Almost no-one would think it can come from there
- #15 Independence and Objectivity Subject to human interpretation & relationships - someone may say something is fine or not because they like or are influenced by the presentation Some project team members may ‘sell’ the results of the work, be arrogant or fail to understand what is really needed Benefits in independence of QA Gives a ‘Measurement’ on status of delivery which is quite distinct from how anybody might ‘spin’ the progress A great QA team can bring insight beyond the brief and specs they have been given and pick up things that have been missed by others The most useful feedback is objective, but that’s not easy; Challenges of objectivity Really need to understand the detail of how is supposed to work Defects articulated clearly with necessary supporting evidence Communicate based on facts not supposition Reserve judgement Consistency All of the above leads to earning respect
- #16 Developers are going to try harder to get it right in the first place Developers are going to get rapid/timely feedback on what’s wrong Developers are going to work harder to solve defects to keep the project on track Project sponsors are going to have clear visibility or quality level and progress Project designers and analysts are going to have clear problem statements to work from When the system goes live the project team is going to have (justified) confidence in the system – that will feed through to the users Fewer problems are going to found in live (where they are much more expensive to fix) & hence the project will cost less
- #29 BIG BUTTON – Automated execution of complete regression test library with minimum human effort This is a software development and infrastructure project Supporting and maintaining requires additional effort (separate from Dev and QA) Test Environment must be completely controlled by QA team Where possible Test Environment should be isolated from external instability (such as Market data or downstream system) In order to run many scenarios in parallel there QA need to maintain substantial number of different types of participants accounts in Test environments Test Environment must have enough HW capacity to execute many tests within limited timeframe Interfaces between Test Harness and Test environment must be stable. Relying on manipulation of unstable UI may lead on effort exceeding achievements due to test automation
- #31 Conclusion A great QA Team can make a Disproportionate Contribution to Project Success