Banking & Insurance
Implement a new PMO for risk and compliance regulations
Context
Coordination and management of the implementation of new regulations related to risk composition, calculation and reporting. The project is at a European level for a financial services company.
Objectives
Implementing, coordinating and managing several risk related projects:
- Mixed Approach project: modifying the risk composition, considering the risk on the client and debtor side
- NDoD ( New Definition of Default): adapting the rules within systems and processes to make them compliant with the new definition of default
- Other Risk reporting and RWA (Risk weighted asset) projects
Our Approach
Mixed Approach project:
- Define and implement new governance and workstreams
- Define key elements of deliverables in collaboration with involved departments
- Create follow-up tool and monitor governance bodies
- Coordinate and SPOC for Group Internal Audit department
- Define the remediation of findings and recommendations issued by Group Internal Audit
- Planning of remediation plan and pre-application package delivery plan
- Coordinate with ECB contact
NDoD project:
- Governance follow-up
- Coordination of the project’s teams in different countries
- Specific management of workload of IT department
Results
Mixed Approach
- Package delivered to Group Internal Audit on due time.
- Pre-application package sent to the ECB on due time.
- Application package is on track to be delivered.
NDoD
- Implemented in Belgium
- Implementation on track in other EU countries
