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Data and Users. The Experience of the IBFC in Labuan.

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Data and Users. The Experience of the IBFC in Labuan.

  1. 1. 11 April 2019 CRF – Skopje/Ohrid DATA AND USERS – Labuan IBFC’s Experience in Implementation of ROC Systems
  2. 2. Labuan IBFC
  3. 3. Agenda  Evolution of E-Filing for Labuan IBFC  User Engagement Strategies  Key Takeaways in Implementation of ROC system
  4. 4. Evolution- ROC E-Filing 1990-2000 : Manual Application 2000: EDSP (Excel sheet) 2004: myLofsa (Lotus Domino) 2011: myLofsa2 (J2EE) 2014: COR@L (Catalyst)
  5. 5.  COR@L – Corporate Online Registry @ Labuan FSA  online system that promotes convenience and security to the user with real-time access  consists of 6 registers/ modules  launched in June 2014  Two methods of payment system  FPX  Deposit account (disable)  External main users:  Trust companies  Auditors  Liquidators  Third parties Overview of COR@L System
  6. 6. Engagement Strategies 1) Task-Force (Internal & External) Role: To understand the needs of specific group (business analyst) To reflect on the strengths and weaknesses of past systems To create the “wish-list” To finalise the user requirements
  7. 7. 2) Effective Communication Channels  Weekly project updates with vendor/taskforce Why? - Tracking of project status (project managers) - Avenue to discuss project issues/concerns  Periodical dialogue session with end-users Why? - Establish clear line of communication to gather feedbacks (dedicated email) - Transparent on the stage of rectification of system’s issues - Buy-in from stakeholders
  8. 8. (1) Migration of historical data and filings from previous system and from hard copy of archived documents – integrity of data; (2) Inability of ROC to generate certain reports - requires ICT’s assistance for reports to be produced; (3) The system is unable to reconcile with the Group Finance’s system; and (4) System support for reported issues/incidents in COR@L system 2 Result from Communications – Concerns on the Existing System
  9. 9. 3) Conduct Survey on User’s Satisfaction To gauge the performance level of the system  For continuous improvement of the system When? - 3 to 6 months upon go-live - After one year of implementation
  10. 10. 1) Think Big - List down all expectations/requirements and wish lists - Engage with vendor and stakeholders - Classification - Must Have - Good to Have Why? Future reference Staggered implementation Key Takeaways
  11. 11. 2) Engage! Engage! Engage!  Listen to your system users  Maintain good relationship with stakeholders - system users - Management  To achieve versatile and user friendly system
  12. 12. 3) Data Integrity  Achieved operating system with credible data How? - Data migration is a crucial part of any new system - Choose best approach depending on the size of data - Labuan IBFC – special project for data cleansing where we employed contract staff for the purpose
  13. 13. 2 Data Migration Diagram of Processes Unclean Files Compile all documents in folder Different Source Identify and Compile Scan and Re-scan improper document DocumentUploadintoCOR@L Maintain File Notes Maintain Filings Identify Upload Create Complete Filing in COR@L Prepare the completed listing for ICT further action • Manual Files (submission 1986-2003) • myLofsa1 (submission 2004-2011) • myLofsa2 (submission 2011-2014) • M-Files (2012) • Manual softcopy submission • Create folder based on Form/ documents • Rename each form/document by date of submission. • Screening existing scanned form • Prepare listing for migration • Convert existing online form in myLofsa1 (print Screen—paste to Words—crop—convert to PDF— Rename—save into related created folder) • Forms/Documents. i.e. M&A and Audited Financial statements • Rescan incomplete submission, i.e. 2nd page of Form22. • Rescan improper document (inconsistent layout) • Rename all rescanned documents/Forms and save into related Folder. • Arrange Form to check any missing documents Identify the missing attachment/Lodgement Upload Form for missing attachment in filing Create filing for missing filing of business services and upload the attachment. Backup in server and hard-disk Click for Detailed Processes
  14. 14. THANK YOU www.labuanfsa.gov.my www.lfsacoral.gov.my

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