About the Company: “Deloitte” is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk advisory, tax and related services to select clients. These firms are members of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”). Each DTTL member firm provides services in particular geographic areas and is subject to the laws and professional regulations of the particular country or countries in which it operates. Each DTTL member firm is structured in accordance with national laws, regulations, customary practice, and other factors, and may secure the provision of professional services in its territory through subsidiaries, affiliates, and other related entities. Not every DTTL member firm provides all services, and certain services may not be available to attest clients under the rules and regulations of public accounting. DTTL and each DTTL member firm are legally separate and independent entities, which cannot obligate each other. DTTL and each DTTL member firm are liable only for their own acts and omissions, and not those of each other. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Deloitte's International Virtual Experience Opportunity Deloitte’s International Virtual Experience is your chance to gain invaluable business experience and start building a worldwide network that will benefit you for a lifetime. Join our virtual network—no passport required. Deloitte’s International Virtual Experience (DIVE) offers you a unique opportunity to make an impact by diving into real issues affecting international business in today’s world. With access to Deloitte leaders who will coach you, this internship program will enable you to work in diverse and collaborative teams while also developing your individual leadership skills. As part of this elite group, you’ll build an international network and foster relationships that will give you an edge after graduation and enhance your career for years to come. Benefits: Deloitte’s International Virtual Experience (DIVE) will offer you a unique experience. You will have the opportunity to work on a regional team virtually and team up with Deloitte coaches and professionals to solve real business challenges facing business in today’s world. Ultimately, as part of this elite group, you will build a network that can enhance your career for a lifetime. Gaining international corporate experience while you’re still at university is certainly a resume enhancer! It will set you apart from your peers and demonstrate your interest and ability to work across borders and cultures. Over the course of your project, you will: Acquire skills you’ll need to operate successfully within the Caribbean marketplace; Dive into real-world issues affecting international business today to make an impact for global clients and in society; Discover the wealth of opportunities available to you at Deloitte; Experience diverse cultures by collaborating with professionals from around the Caribbean; Gain exposure to international business priorities and local challenges; and, Enhance your resume and gain a competitive edge. Not to mention, you will also meet and learn from professionals with very different backgrounds and experiences. You’ll meet people who can help you see things from a different point of view and broaden your horizons; people who will be part of your professional network throughout your career. Company Methodology: We focus on audit quality in our services. As audit professionals, our main aim is to fulfill our duties and responsibilities to top management, board of directors and shareholders of our clients in relation to the issuance of our audit opinion based on the financial statements. Our methodology, known as Deloitte Audit, is an innovative, technology-driven, businessfocused and year-round audit approach that requires a comprehensive understanding of our clients’ operations. We offer high quality and risk-mitigating audit services as a part of the financial statement audit process. Overview of our Audit Approach: Planning and coordination with no last minute surprises, Leveraging industry focused and advanced technologies, Providing ongoing communication to discuss audit and accounting issues. 1. Completing Planning Process Assess and respond to engagement risk Selecting engagement team and establishing terms of engagement Acquiring comprehensive information regarding company activities and accounting processes Understanding entity-level and process-level controls Determine planning materiality Preparing and presenting an audit plan 2. Developing of Audit Plan Assessing risk at account balance and potential error levels Planning test of controls Planning the use of the work of others Planning substantive tests 3. Executing of Audit Plan Performing test of controls Testing entity-level controls and process-level controls Evaluating control deficiencies Performing substantive tests 4. Reporting and Assessing Performance Performing subsequent events review Obtaining management representations Completing engagement reporting and issue audit report and management letter Summarizing audit results for the management and owners Assessing engagement quality Sr. No. Contents 1. Learning Objectives/Internship Objectives 3. Weekly overview of internship activities 4. Introduction 5. Internship Discussion 6. Conclusion Page No. Introduction Deloitte Touche Tohmatsu Limited commonly referred to as Deloitte, is a multinational professional services network. Deloitte is one of the Big Four accounting organizations and the largest professional services network in the world by revenue and number of professionals, with headquarters in London, United Kingdom. The firm was founded by William Welch Deloitte in London in 1845 and expanded into the United States in 1890.[8] It merged with Haskins & Sells to form Deloitte Haskins & Sells in 1972 and with Touche Ross in the US to form Deloitte & Touche in 1989. In 1993, the international firm was renamed Deloitte Touche Tohmatsu, later abbreviated to Deloitte.[In 2002, Arthur Andersen's practice in the UK as well as several of that firm's practices in Europe and North and South America agreed to merge with Deloitte. Subsequent acquisitions have included Monitor Group, a large strategy consulting business, in January 2013. The international firm is a UK private company, limited by guarantee, supported by a network of independent legal entities. Deloitte provides audit, consulting, financial advisory, risk advisor, tax and legal services with approximately 312,000 professionals globally. In FY 2019, the network earned a record US$46.2 billion in aggregate revenues. As of 2019, Deloitte is the 4th-largest privately owned company in the United States. The firm has sponsored a number of activities and events including the 2012 Summer Olympics. Controversies involving the firm, in addition to litigation surrounding a few of its audits, have included its involvement in a "potentially misleading" report on illicit tobacco trading in Australia, the fact that it suffered a major cyber-attack which breached client confidentiality as well as exposing extensive employee information in September 2017, its role as internal auditor of the insolvent contractor Carillion and its role as external auditor of Autonomy which was accused of "accounting improprieties" that contributed to a £8.8 billion write-down of value following its acquisition by Hewlett-Packard in 2011. Learning Objective: Weekly Overview of Internship Activities: Week 1 Date Day Name of the topic/ Module 28/04/2020 Tuesday 29/04/2020 Wednesday 30/04/2020 Thursday 01/05/2020 Friday 04/05/2020 Monday Technical Strategy &Innovation – Part I Technical Strategy &Innovation – Part I Technical Strategy &Innovation – Part II Technical Strategy &Innovation – Part II Technical Strategy &Innovation – Part III Weekly Overview of Internship Activities: Week 2 Date Day Name of the topic/ Module 05/05/2020 Tuesday 06/05/2020 Wednesday 07/05/2020 Thursday 08/05/2020 Friday 11/05/2020 Monday Technical Strategy &Innovation – Part III Technical Strategy &Innovation – Part III Technical Optimization & Digital Module – Part I Technical Optimization & Digital Module – Part I Technical Optimization & Digital Module – Part II WEEK – 1 TECHNOLOGY Strategy & Innovation Weekly Overview of Internship Activities: Week 3 Date Day Name of the topic/ Module 12/05/2020 Tuesday 13/05/2020 Wednesday 14/05/2020 Thursday 15/05/2020 Friday 18/05/2020 Monday Technical Optimization & Digital Module – Part II Technical Optimization & Digital Module – Part III Cloud Engineering Part I Cloud Engineering Part I Cloud Engineering Part II Weekly Overview of Internship Activities: Week 4 Week 4 Date Day Name of the topic/ Module 19/05/2020 Tuesday 20/05/2020 Wednesday 21/05/2020 Thursday 22/05/2020 Friday 23/05/2020 Monday Cloud Engineering Part II Cloud Engineering Part II Cloud Engineering Part III Cloud Engineering Part III Cloud Engineering Part III Technology, Strategy & Architecture – TS&I Work in Progress Module Tasks and Ideal Responses TASK 1 - Client Discovery TECHNOLOGY CONSIDERATIONS Technology Architecture Explore the technology capabilities needed to run an online banking solution, considering: • Software – platform, operating system etc. • Infrastructure – database capabilities, hosting etc. • Security – encryption, secure log-on etc. • Support – level of training of IT support staff required Technology Delivery How can these technology capabilities be procured and implemented, including: • What components would work well as Software-as-a Service – e.g. savings calculators • Do you need any external vendors, or can this be built in-house? Usability of the Solution How do we ensure the solution is user-friendly and well adopted, including: • Ease of use – customer testing during design • Meets customer needs – considering different user scenarios across computer, tablet, mobile • Web standards – Web Content Accessibility Guidelines (WCAG) v2 compliant Technology Framework and Compatibility How can you cater for as many customers as possible : • Which internet browsers to support – IE, Chrome, Safari etc. • Internet speeds / performance • Website code/language selection – Java, C++, Flash Technology, Strategy & Architecture – TS&I Work in Progress Module Tasks and Ideal Responses TASK 2 - Design a Business Case HIGH LEVEL BUSINESS CASE CONSIDERATIONS Benefits Realisation What are the potential benefits to be realised from an online banking solution? • New customer demographics Brand differentiation • New products / services that can be offered • Increase in productivity due to fewer manual interactions • Enhanced reporting and analytics Cost Analysis What are the possible costs to be incurred when establishing an online-first versus a bricksand-mortar banking solution, considering : • Lower overhead / operating costs • Reduced infrastructure costs needed • Reduced staff costs needed • Reduced inventory needed Increased Automation How can we increase the client’s technical capability and level of automation? • No legacy system considerations • Ability to up-scale quickly • Increased level of expertise / offerings to the customer Process Improvement How can an online-first solution improve business processes? • Less customer contact points • Effort and time significantly reduced due to some services that can be fully automated – e.g. term deposits submitted on Technology, Strategy & Architecture – TS&I Work in Progress Module Tasks and Ideal Responses TASK 3 - Considerations For Mobilisation IMPLEMENTATION CONSIDERATIONS Timeframes and Scope What do you need to consider when planning and scoping a major project? • High level timelines • Key delivery milestones • Documents and deliverables expected • Identification of key stakeholders Resources and Skillsets What do you consider when structuring your team? • Skillsets required and level of seniority needed • Capacity of the client team members to assist • Outsourcing/offshore teams • On/boarding and project kick-off Cost Management How can we estimate our costs in our contracts? • Costing approach: Time & Materials vs Fixed Cost • Charge-out rates for individuals and teams • Cost estimations over the project duration Project Methodology and Tools How should we structure our project delivery to ensure the final solution meets the client’s needs? • Methodology: Agile vs Waterfall vs Hybrid-Agile • Supporting tools: MS Project, JIRA, Trello, Slack • Ways of working Technology, Strategy & Architecture – Technology Optimisation & Delivery Module Part I Define the project approach Project Plan for SectorMetric This project plan will outline how Deloitte will deliver this technology evaluation and selection engagement. Our understanding of the scope Our scope will include the following: • Providing a framework for exception led requirement gathering and use case development. • Initial market long list of proposed technology solutions. • Market scan approach and scoring methodology. .• Technology evaluation matrix template and guidance. Risks, issues and dependencies Our initial understanding of risks, issues and dependencies are as follows: • You acknowledge that our ability to deliver this piece of work is dependent on you meeting your responsibilities . If responsibilities are not conducted in a timely manner, these will affect project budget, timelines and scope. • Resource constraints (both internal and client) is a risk that may impact delivery timelines. • Lack of availability of Subject Matter Experts and relevant stakeholders may present a risk to delivery timelines. • Availability and agreement of vendors to respond within the timeframes assumed (within a week’s notice) for demos, pricing and contracts discussions. Technology, Strategy & Architecture – Technology Optimisation & Delivery Module Part II Conduct a market scan Project Plan for SectorMetric Technology, Strategy & Architecture – Technology Optimisation & Delivery Module Part III - a Further analysis & solution presentation - I Project Plan for SectorMetric Technology, Strategy & Architecture – Cloud Engineering Part III - b Further analysis & solution presentation - II Project Plan for SectorMetric Technology, Strategy & Architecture – Cloud Engineering Part I Cloud Computing Cloud Feasiblity Assessment Technology, Strategy & Architecture – Cloud Engineering Part II Cloud Computing Cloud Rediness Assessment Technology, Strategy & Architecture – Cloud Engineering Part III Cloud Rediness Assessment - I Technology, Strategy & Architecture – Cloud Engineering Part IV Cloud Rediness Assessment - II Conclusion: I am very thankful to Deloitte to provide an open-access Virtual Internship program where I have gained valuable skills and knowledge about the industry and understood the working environment of Deloitte. Each module has offered a unique experience to solve complex problems aligned with project management, consulting service, and business processes. Hence, I have summarised an overview of my experience in completing the program, First Module: Optimisation & Delivery I chose optimisation & delivery first because it is more aligned to the project management fundamentals, like agile delivery capabilities and strategic project delivery. I learned different ways to provide consultation services to clients and understood what’s the right approach in addressing key accountabilities as a project consultant. Second Module: Technology Strategy & Innovation In this module, the project team must help the client to further expand their business to target a different market segment. The Deloitte model showed “what” are the key criteria to choose a new product for the client. However, I chose a different approach by researching extensively on technologies such as the Open banking platform. Used my management roots and implemented a delivery process on creating an Open Banking API (Application Program Interface) through a selection of suggested vendors like Amazon Web Service (AWS), Google Cloud, Microsoft Azure, and Rackspace. Provided a detailed overview of each project stage from the start to the end of the implementation process and explained how to create better engagements with clients in solving their business challenges. Even though the module did not reflect the overall process it did introduce me to emerging technologies across the Fintech market. Third Module: Cloud Engineering The final module was the most interesting and exciting one of all. I have been part of a migration project before but understanding the process of moving totally to an off-premise platform gave me a different outlook of the future where cloud computing could play a big role in transforming the technology industry. Right from understanding cloud infrastructure to assessing cloud suitable applications introduced me to many facets of the development and application migration process. The high degree of freedom to move between different speciality areas is one of the key takeaways from this program. I learned new ways of the decision-making process, critical thinking and delivery processes that are aligned with the project management fundamentals. Reviewing my experience with the Insidesherpa virtual internship program I can assume how dynamic and collaborative the working environment can be at Deloitte and this excites me, even more, to learn more about the Technology Industry. Finally, A big thank you to Insidesherpa for providing such a great platform for learning.
