The rising tide of regulatory change is increasingly challenging to financial institutions. In fact, governance, risk, and compliance related expenses can take up to 50% of a bank’s overall IT budget. Hence the growing need for experienced, knowledgeable risk experts who can ensure that all your compliance needs are addressed in a cost-effective fashion.
As the global financial crisis has deepened, financial regulations have been proliferating in an increasingly tight regulatory climate. Domestic and international standards developed over the last few years demand compliance in wide-ranging areas: capital calculation, credit and operational risk models and methodologies, risk reporting, payments technology and data storage – to name a few. For financial services firms, these regulations have a major impact on nearly every area, including data management, risk management, and IT. Companies that fail to manage the process effectively face the possibility of having their risk management practices questioned by regulators.
What we offer
While keeping up with the volume and complexity of regulatory demands can be a formidable task for executives, Temberton’s professionals can help by bringing our knowledge and experience to your regulatory challenges. Our team has managed risk and compliance projects from the analysis, design and development stages through to implementation, developing successful and cost-effective solutions for our clients.
We can assist with any aspect of your process: analyzing the impact of new rules on your business; assessing your regulatory risk; determining what changes are required to existing processes and practices; ensuring that you have the right technology in place to support the regulations; and designing and implementing monitoring systems and compliance reporting.
The Dodd-Frank Act represents the most comprehensive financial regulatory reform since the Great Depression, with as many as 350 new rules. Organizations with strong risk management will be better able to adapt to and manage changing regulations in this complex regulatory climate.
Responding to Basel
Basel reporting regulations require financial institutions to have a model risk-management weighted capital balance sheet. To achieve this, institutions need to have people who understand the credit default model and the other necessary models.
If you require end-to-end project support, we can provide you with expert project management services. Integrating management skills with our detailed risk and credit knowledge, we ensure that your project runs smoothly and effectively – by taking charge of all aspects of your project, including:
- Producing and maintaining the Project Management Plan
- Defining the project roles and responsibilities
- Establishing effective project controls and procedures
- Establishing, monitoring and managing overall project risks, issues, dependencies,and change control, escalating issues where appropriate
- Controlling the day-to-day operation of the project, ensuring that delivery of the project is on time and in conformance with the agreed plans, including tracking project expenditure within budget
- Monitoring overall progress and initiating corrective action as appropriate
- Ensuring throughout that the project remains aligned with business needs