The growing complexity of the functions and financial products is resulting in a corresponding increase and sophistication of risks.
Recent events show, furthermore, that these are only hardly, or poorly, controlled (sub-prime mortgage crisis, losses on market activities).
The proliferation of standards (quality measures, ISO standards, and European directives), as well as the drawing up of codes of conduct and other ethical charters particular to each institution, demonstrates an ever-growing need to regulate these risks so as to control them better.
This consolidation of the regulatory framework is unavoidable and doubtlessly necessary, though the central problem remains, however, the actual, efficient and long-lasting implementation of management of these risks.
In this context, both content and business stakes regarding internal banking control are of outstanding importance:
- To ensure growing confidence and trustability through, standardised and reliable information (classification and more extensive information on products).
- To adjust organisation and workload through for clarification and efficience, from a clear definition of the scope of intervention.
- To rethink the methodology, using more advanced tools (mapping the relevant risks) and adapting to a greater sophistication of products (CDO, LBO, ABS).
- To set up effective monitoring in an environment aimed at strengthening already existing legislations (regulation 97-02, etc.), under the supervision of the supervising authorities (AMF, Banking Commission).
To meet these multiple challenges, the offer developed by Ineum Consulting is aimed at all the players involved:
- Credit institutions, banks, insurers, asset management companies.
Examples of achievements:
- Private banking “compliance” assessment.
- Implementation of the Basel II project.
- Implementation of the MIFID project.