Our consulting services focus on our clients' most critical challenges and opportunities across the regulatory and strategic landscape within the wealth & asset management industry. We provide goal-oriented advice on regulatory projects, strategic re-alignment and business transformation.
Compliance with regulatory and ethical standards has become an essential part of good corporate governance.
For financial institutions and their management body, current regulatory developments, evolving legal practice and criminal prosecution of compliance violations have become a challenge increasingly difficult to cope with. Various layers such as company size, international positioning and capital markets exposure need to be factored in when assessing compliance risks and defining an adequate compliance function. Triggered by the latest legal and regulatory initiatives, compliance is becoming more complex, saturating almost all business processes across the organization and, thus, driving the overall operational complexity.
With our holistic approach, taking into account the interaction between several elements such as strategy, risk and organizational setup, as well as our broad experience in managing compliance related projects, we cover all facets of compliance for financial institutions. We can support you on a strategic, conceptual and operational level.
Our services include for example
- Designing effective compliance functions
- Assessing compliance risks in existing processes
- Conducting specific and tailored compliance audits
- Assessment and reprocessing of client files regarding their compliance with regulatory standards such as AML-regulations or information- and disclosure requirements
- Drafting of internal regulations and guidelines
- Preparation and execution of training sessions
- Implementation of specific regulatory requirements, e.g. prevention of money laundering, Know-Your-Client (KYC), market conduct rules, regulation of distribution or cross-border business
Our aim is to offer competitive, efficient and coherent solutions.
Financial intermediaries need to cope with what has become a complex and far-reaching web of national and international legislations and regulatory obligations. Effective business processes are, therefore, required to prevent any regulatory issues. In addition to multi-jurisdictional challenges stemming from cross-border offerings, national competent authorities and supranational bodies are enacting rules with extra-territorial effects that result in additional operational complexity.
Following the collective commitment at G20 level to increase investor protection, market transparency and financial stability, the transformation of these global initiatives into regional and national rules have often resulted in complex and contradictory regulatory frameworks. Despite best efforts by regulatory bodies to achieve harmonisation across key markets, today’s regulatory agenda presents several asymmetries.
The industry is currently struggling to cope with the load of new regulatory initiatives. The number of rules introduced from different regulatory bodies is not a hurdle that only compliance officers need to deal with, facing the uncertainty resulting from changing regulations is affecting the entire organization. Many firms are being forced to redesign their business and operating models as part of a strategic re-alignment.
We provide businesses in the financial industry with guidance on regulatory obligations relevant to their business and operating model.
Our services include for example:
- Assessment of the impact of relevant laws and regulations on your business
- Implementation of specific regulatory requirements and legislations
- Topic specific workshops tailored to your target audience
- Evaluation of specific legal and/ or regulatory questions
- Education and training of employees on regulatory obligations
Our aim is to offer competitive, efficient and understandable solutions.
We offer specific audit related services tailored to your company. Our audit methodology reveals the strengths and weaknesses of your internal control system, building the basis for joint development of sustainable improvement concepts.
Our services include for example:
- Support in the setup and enhancement of an internal audit function
- Assessment of the internal audit function
- Support in regulatory audits as well as special audits
- Compliance tests regarding regulatory standards
- Case-related audits
- Analysis of risk identification and risk valuation
- Support in the setup or review of an effective regulatory change governance
Our audit related services are based on applicable national and international audit standards as well as FINMA guidelines that may apply.
Our in-depth knowledge of internal processes and business models of the wealth & asset management industry allows us to design special audits as effectively and efficiently as possible.
In order to enter the Swiss financial market, specific financial market activities require authorisation from the Swiss Financial Market Supervisory Authority (FINMA). To obtain authorization from FINMA and henceforth being qualified as “authorized”, banks, insurers, collective investment schemes as well as financial market infrastructures must comply with stringent organisational, financial and risk-minimisation requirements.
We may advise you during the whole authorization process with FINMA, including:
- Evaluation of the obligations coming with the financial-market activities to be authorised
- Validation of the internal processes already implemented (e.g. ICS, Compliance, Risk Management)
- Definition and documentation of the Target Operating Model (organization and processes)
- Implementation of the required corporate governance
- Coordination and alignment with the responsible authorizing body and the future auditor
- Preparation of the FINMA application, incl. information and documentation
Our team is familiar with the different FINMA authorization procedures based on a broad range of audit activities and authorization projects already realized. This ensures an efficient and customized support for your institution.
The purpose of project management is to plan, organize and control all project related activities in order to complete the set targets as efficiently as possible in spite of all potential difficulties and risks. This process starts before any resources are committed and must continue until all work is finished. The successful delivery of complex projects demands a strong project management. The following essentials are key:
Scope is aligned with stakeholders’ needs and the proposed approach is appropriate to meet the project objectives
Project plan sets realistic timelines and activities for individual resources and considers contingencies on individual task level to ensure overall project progress
Project costs are estimated and corresponding budget is approved by project sponsor, budget control is in place to track costs and benefits
Stakeholders are identified and their interests and influences determined. Project governance and reporting lines are clearly defined and communication plan is set up.
Human resource management:
Resource requirements are defined and the right capabilities on-boarded. Each project member is aware of his role and expected contribution.
Risk and issue management:
Risks and issues are identified and pro-actively managed. Quality management is in place.
3rd party relationships are appropriately managed
A key element of a successful Project Management is to establish an effective Project Management Office (PMO). The PMO supports and facilitates the delivery of projects by combining some or all of the key project management competencies. Its role depends on the project size and complexity, the business requirements as well as the maturity of the organization. A PMO needs to focus on the project outcome rather than just following a set of processes.
The benefits of a well-managed PMO are:
- Improved decision making by the project leadership
- Allows projects/ work streams to focus on delivery
- Improved project alignment with client’s strategy
- Better understanding of the dependencies between work streams
- Improved communication with stakeholders
- Improved project planning
- Comprehensive and consolidated overview of all activities
- A single source repository for all key information
- Prioritization of activities based on critical dependencies
- Uniform decision-making, resource management and issue resolution
- Consistency in communication, tracking and reporting
We support you in setting up an effective project management and PMO function in order to successfully achieve your project goals.