We can help by providing:
(1) Policy Interpretation and Support
(2) Regulatory change management (project management and support)
(3) Assisting in liaison with regulatory bodies and banking steering committees
(4) Peer benchmarking
(5) Gap analysis against underlying regulations
(6) Impact analysis of proposed regulatory changes
Some of our standard services include:
(1) Preparation and submission of regulatory returns
(2) Review and assurance on regulatory reports and processes
(3) Litigation and due diligence support
(4) Capital and Liquidity optimisation
(5) Review of standard regulatory disclosures (ICAAPs, ILAAPs, Recovery Plan, Wind down plan, ICARA, Risk Management Framework, amongst others)
(6) Regulatory Advisory (e.g. policy development, policy interpretation & advice, preparation for regulatory visits, L-SREPs, C-SREPs amongst others)
(7) Section 166 reviews and remediation
(8) Model risk management
Our leadership and engagement team brings together the technical expertise and local/jurisdictional presence. Our regulatory knowledge represents a blend of:
(1) Ex-regulators – allowing us to feed in the regulatory supervisors’ perspective into your decision making
(2) Ex-industry practitioners – allowing us to balance the prudence of regulatory supervisors’ perspectives with practical, financial and operational considerations
(3) Career consultants – allowing us to benchmark our advice with best practice in other firms
We set a very high bar for the quality of service that we deliver to our clients; and as such, we have an excellent track record of retaining our client relationships and work with them for long periods of time.
Case study |
Background A large European bank requested a review of their regulatory reporting ecosystem, with specific focus on certain regulatory returns. This stemmed from a recent regulatory examination that had led to a regulatory fine. Our actions We applied our bespoke approach to reviewing the firm’s regulatory reporting arrangements. This approach covered the following themes: Governance review entailed the review of senior management’s accountability for each stage of the regulatory reporting process; review of the split of working level responsibilities in the current regulatory reporting process; and review of the adequacy of challenge processes, especially on the matter of key regulatory interpretations, judgements and assumptions, and on the matter of completeness of data and accuracy of computations. Controls review entailed the identification, mapping, reviewing and validation of the design and operating effectiveness of regulatory reporting controls, financial modelling, and the handling of spreadsheets & reconciliations within the regulatory reporting process. Data review entailed materiality-based regulatory conformance testing with a focus on the most significant regulatory judgements & interpretations. It also included a review the bank’s use of data in the context of its regulatory submissions and the adequacy of data integrity and processing (i.e., consistency, accuracy, and completeness). Project outcomes We presented to the CFO, CEO and Chairman of the Board, and prepared a detailed report outlining our key findings. Following the review, the firm engaged us to re-design and roll-out new procedures and framework for preparation and testing of regulatory reports. |
Solvent exit planning
In March, the Prudential Regulation Authority (PRA) published SS2/24 on solvent exit planning for non-systemic banks and building societies. This statement outlines the PRA’s expectations for non-systemic banks and building societies in the UK to prepare, as part of their business-as-usual (BAU) activities, for an orderly ‘solvent exit’. This requirement will come into force from 1 October 2025.
Understanding Basel 3.1
On 1 July 2025, the Prudential Regulation Authority (PRA) is implementing the biggest changes to the capital regime for banks in over a decade. This reform package is commonly known as Basel 3.1.
Strong and Simple regime
The PRA is expected to introduce a more proportionate prudential regime for less systemically important banks and building societies. This will be known as the ‘Strong and Simple’ regime.
Investment Firm Prudential Regime – How to prepare
On 1st January 2022, the UK adopted a more proportionate and fit-for-purpose prudential regime for investment firms known as the Investment Firms Prudential Regime (IFPR).
Regulatory Insights
Expert analysis on the latest regulatory insights in the UK.
