Comply to compete and not to comply
We believe that all regulatory efforts should deliver a clear business and compliance value to the organization.
In order to deliver on this promise, our consultants apply their deep understanding of the regulatory and operational landscape within the financial industry. We support clients within private, depository & payment banking as well as the asset management and insurance industry to design and implement solutions.
Comply to compete. Don’t just comply.
Challenges for the financial industry
Banks, asset managers and insurer today face a complex set of regulatory and legal rules. Compliance must somehow fit into existing operational and IT setups, which pushes the existing solutions to the edge. On top of this the non-financial risks, besides operational risks, continue to increase as the level of scrutiny by local regulators grows. Our clients act long before an external audit or an onsite inspection by the regulator.
Short term fixes to make the business somewhat compliant are no longer sustainable for regulated entities. More advanced solutions must deliver clear compliance value to the organization, while also generating business insights to drive revenue. Thus, integrating compliance efforts into daily operations to identify opportunities becomes key. We assist organizations to effectively navigate business risks and opportunities from a strategic angle.
Just comply and be done with it was yesterday. Many last minute compliance solutions show non-sustainable business returns in the medium to long run. Our strategic compliance professionals therefore aim to take a holistic view upon your various business & compliance activities. Given your current level of compliance, we evaluate current and future business opportunities within the areas in question. This then allows leaders to weight the return on future compliance investments vs. expected returns based on facts & figures.
Regulatory shifts and financial or economic shocks have severely impacted the actual and perceived strength of organizations. Through applying our broad industry and regulatory knowledge we support our clients with the re-shaping of their business operations and corporate organization to become more resilient. We achieve this by embracing complexity with our passion to perform at a detailed level while never losing sight of the business objectives.
Our solutions for you
Our recent assignments
Archiving and closing of a private bank
In line with legal and regulatory requirements our client had to migrate its client and corporate data to a third-party data agent to fulfill the bank’s mandatory record keeping obligation. We assisted in the identification of business activities over the past 10 years to help external legal counsel and IT to archive the “right data”.
The project finished successfully within 12 months.
Financial crime change program at a private bank
We supported the local subsidiary in Luxembourg with the implementation of the group-wide KYC, KYT, sanctions and transaction monitoring standards. Following a substantial gap analysis phase, the implementation phase included the launch of new operating procedures, processes as well as the deployment of new technology solutions to support the business activities.
The program ran for about 36 months and our assignment lasted for 8 months.
Internal governance projects at two banks
As project manager and business analyst, respectively, we assisted two organizations with the process level and entity level implementation of an internal control framework according to international and local banking standards.
The projects took between 6 and 14 months.
EMIR & SFTR project at a depository bank
After the relevant impact assessment, we supported as subject matter experts the management with the design of the target operating model to derive tangible business value out of the regulatory obligations by providing new services to their client base.
The project lasted for about 12 months.