Operating Model transformation | Integrated Advisory

Building a Whole-of-Fund Investment Operating Model for Scale, Control and Better Decision-Making

Aware Super undertook Project ODIN as a multi-year transformation of its end-to-end investment operating model. The program was designed to move the fund from a fragmented landscape of legacy tools, manual processes and disconnected data into a modern, integrated investment ecosystem. The program brought together GoldenSource for enterprise investment data management, Ortec PEARL for performance and attribution, BlackRock eFront for private markets, and BlackRock Aladdin for public markets and whole-of-fund investment management. Together, these platforms formed the foundation for a target-state operating model spanning investment data, analytics, custodial integration, private markets, public markets and front-to-back investment workflows. Integrated Advisory supported ODIN across data, migration, testing, business readiness, change, training, governance and operational transition. Our team acted as a delivery interface between business, operations, technology and external vendors, helping build reusable testing and reconciliation assets, support adoption and hypercare, and transition teams away from legacy reporting and manual workarounds toward a more controlled, scalable and integrated operating model.

Key Challenges

Complex, Multi-Platform Transformation: Project Odin brought together several interdependent investment platforms and data services, each requiring careful integration within the broader target environment.
Whole-of-Fund Integration: The program needed to establish an integrated view of Aware Super’s public and private market investments across a large and increasingly complex portfolio.
Investment Data Architecture: Data needed to be sourced, managed and distributed across State Street Alpha Data Services, GoldenSource and the downstream investment platforms in a complete, accurate and timely manner.
Front-to-Back Connectivity: The target solution required reliable integration between portfolio management, modelling, trading, custody, investment data, performance, attribution and risk processes.
Testing Scale and Complexity: The volume of data, business rules, interfaces and end-to-end scenarios created a substantial testing requirement that could not be addressed efficiently through manual execution alone.
Operating Model Change: Implementing the new technology required corresponding changes to investment processes, data ownership, operational responsibilities, controls and ways of working.
Extensive Stakeholder Dependencies: Successful delivery required coordination across Aware Super’s investment and operational teams, State Street and multiple specialist technology partners.
Maintaining Business Continuity: The transformation needed to be implemented without compromising the integrity or continuity of Aware Super’s day-to-day investment activities.
Delivery at Institutional Scale: The resulting environment needed to support Aware Super’s continued growth, expanding internal investment capability and increasing international investment footprint.

Solution Highlights

Integrated Program Delivery Support Integrated Advisory supported the broader ODIN program across data, migration, testing, business readiness, change, training, governance and operational transition, helping connect workstreams that might otherwise have progressed in isolation.
Investment Data and Control Foundation Our team supported GoldenSource data validation and control design, helping establish a trusted investment data foundation for downstream platforms and reporting capabilities.
Private Markets Migration and Operating Model Delivery Integrated Advisory led eFront migration and private markets onboarding activities, supporting data standardisation, reconciliation, platform enablement, SPV onboarding, GL integration, cutover, hypercare and go-live execution.
Performance and Attribution Testing, Readiness and Adoption Integrated Advisory supported the Ortec PEARL stream by managing testing and business validation, while also supporting readiness, stakeholder alignment, training, legacy transition and post-go-live adoption.
Aladdin Enterprise Validation and Business Readiness Integrated Advisory helped design and execute structured JSIT, JUAT, parallel validation and business-readiness activities for Aladdin Enterprise and whole-of-portfolio reporting, supporting the final phase of the target-state investment ecosystem.
Automated Testing and Reconciliation Assets Across the program, IA helped build automated testing and reconciliation assets to improve delivery confidence, reduce manual effort and support repeatable validation across releases and platform dependencies.
Business, Technology and Vendor Coordination Integrated Advisory acted as a practical delivery bridge between business, operations, technology and external vendors, helping manage dependencies, resolve issues and maintain alignment across the program.

Outcome

Four Strategic Platforms Integrated ODIN integrated GoldenSource, Ortec PEARL, eFront and Aladdin into a target-state investment ecosystem spanning enterprise data, performance and attribution, private markets, public markets and whole-of-fund investment management.
Stronger Platform Foundation for Scale The program improved Aware Super’s platform foundation for internalisation, risk management, lower-cost scale, better decision-making, stronger controls and future growth readiness.
Transitioned Into BAU Ownership Business handover was completed across the major platforms, helping transition ODIN from program delivery into ongoing operational ownership.
Legacy Services Decommissioned The program decommissioned 463 legacy services, replacing them with GoldenSource, Ortec PEARL, eFront and Aladdin, materially reducing reliance on older operating processes and legacy data and reporting services.
Integrated Investment Operating Model Established The program established a more integrated operating model where trusted data, whole-of-fund analytics, front-to-back workflows, stronger controls and scalable support structures could work together to support a more sophisticated internal investment capability.

Are you planning a whole-of-fund investment operating model transformation, multi-platform implementation or investment data and analytics uplift?

Contact us to discuss how Integrated Advisory can help structure, validate and deliver complex investment transformation programs with confidence.

The successful delivery of Project ODIN reinforced Integrated Advisory’s expertise in whole-of-fund investment transformation, investment data, platform implementation, testing, reconciliation, business readiness and operating model transition.