Cambridge, MA – December 15, 2009 – MIDOR Consulting, a management consulting firm that focuses on product management and development, has completed an engagement with New England Carpenters Benefit Funds(NECBF), the manager of the pension assets of the New England Regional Council of Carpenters(NERCC). The objective of this assignment was to work with the NECBF to perform an operational review of current processes and organization infrastructure to identify opportunities for leverage in the face of very near-term growth.
MIDIOR was selected for this assignment based on their experience in the financial services sector and knowledge of Taft Hartley funds. According to Harry R. Dow, Executive Director of NECBF, “We selected MIDIOR Consulting for this strategic project based on their years of experience working with leaders in the financial services sector. In order to take our organization to the next level, we need to define best practices and performance benchmarks to better manage the assets of our retirees for future growth”.
“To effectively capitalize on the opportunities presented by changing market conditions, asset owners need to understand the key components of their products and platforms and how to achieve leverage from these investments. A disciplined approach to product development and management enables organizations to create, manage and deliver “best-in-class” products and services”, noted Susan Penta, Founder and Managing Partner of MIDIOR.
In order to define relevant performance benchmarks for NECBF, a current state assessment was combined with secondary research to determine relevant industry best practices. The outcomes for this project included a plan for improving leverage and scale, tuning of NECBF’s organization and recommendations for building an appropriate platform to support future growth of assets and plan participants.
About MIDIOR Consulting MIDIOR is a management consulting firm focused on the discipline of product development and management, helping clients better understand their customers’ needs, seize new opportunities and respond to changing markets. MIDIOR's proven leadership in product, platform and information management inspires organizations to challenge conventional thinking and develop the skills necessary to build a sustainable pipeline of successful new products and services. For more information visit www.midior.com.
About NECBF The New England Carpenters Benefit Funds are multi-employer defined benefit plans that manage the retirement assets of the New England Regional Council of Carpenters. For more information visit www.carpentersfund.org.