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Digitalizing and unifying oversight for Skandia Securities Operations

Reducing Operational Risk and Make Oversight Easier

  • Location: Stockholm, SE
  • Website:
  • Industry: Banking & Insurance


Skandia, an esteemed institution with roots dating back to 1855, has evolved from an insurance company to a full-service bank, boasting the title of Sweden’s first telephone banking provider. Today, they stand as one of the leading insurance providers in the market, experiencing significant growth over the past five years.

In our conversation with Ivan Talajic, Head of Securities and Fund Operations at Skandia, we explored their journey into digitalizing operations and the impact of Daymi.


Lack of oversight due to different ways of managing and tracking work

Heavy reliance on individual team members and high key staff dependencies

Hard to onboard new staff or enable staff rotation

Hard to access data to determine where to improve processes and controls

Challenges in Financial Operations

Ivan Talajic leads three teams, managing complex processes with high risks in the Securities and Fund Operations department. The stakes are high – missing deadlines or inaccuracies in corporate actions could result in fines and damage to the bank’s reputation. The need to minimize operational risks, enhance staff competence, and streamline processes was paramount for Ivan.

Previously, the teams used different methods to manage their work, including printed checklists, spreadsheet checklists, and shared Outlook calendars. This decentralized approach proved inefficient, vulnerable to key man risks, and hindered the ability to gain a complete overview of their work. Staff coordination, onboarding, and process consistency were challenging, particularly with the absence of standardized procedures.

Finding a Solution

Recognizing the vulnerabilities, Skandia envisioned a centralized system to track, document, and follow up on operations. Initial attempts using Microsoft Teams proved inadequate, and in-house development was at first an option, but was ruled out due to it being costly to maintain and evolve as demands grew. Following industry peer recommendations, Daymi emerged as the preferred solution.

Daymi swiftly integrated into Skandia’s operations, providing centralized process tracking, documentation, and comprehensive reports. This marked the beginning of a continuous improvement initiative, expanding and standardizing procedure documentation and controls. Regular check-ins with Daymi’s Customer Success Manager ensured ongoing support and a collaborative approach to shaping the platform’s roadmap.

The Audit Advantage

While Daymi was initially implemented for centralization and efficiency, Ivan discovered additional benefits during internal audits. Daymi’s procedure documentation and sign-off functionality streamlined the audit process, providing a centralized location for procedure documentation and proof of execution. The result: two consecutive internal audits with no follow-up questions on processes and controls.

Daymi for Operational efficiency

Transformation with Daymi

Transparency and clarity to Skandia’s teams, ensuring everyone is informed about tasks and processes.

Quicker Onboarding and easier staff rotation due to same way of working and built-in procedures.

Remote work is easier to allow since the follow-up and oversight are the same, no matter where the staff is located.

Daymi’s extensive data is being used to quickly show external stakeholders how much work is being done, what takes time and where improvements should be made.


With a unified platform for recurring and ad-hoc processes, built-in procedure documentation, and improved data visibility, Skandia has managed to centralize their operations, reduced their key man risk, streamlined internal audits and has easy access to data to make more informed decisions.