Reg. Reporting, Risk and Compliance
Regulatory requirements for banking and trading organisations since the global financial crisis of 2007 have increased substantially. Banks and trading houses need to manage their risk exposure and report activity to regulators in Europe, the United States and in Emerging Markets.
Regulators have ambiguous reporting requirements, leading to confusion about what to report, how to report and when to report. Added to this, often within organisations there is a disparity between divisions on what they are reporting both internally and externally. In such an environment it is critical to have an experienced partner on hand to help you define and co-ordinate your compliance and control functions.
Brickendon Consultants are at the forefront of helping design processes and systems to meet regulatory requirements in the following areas:
FSA, BaFin and EM Regulators
We have implemented compliance and control systems to comply with FSA, BaFin and EM regulators at multiple banks over the past few years. We have also developed emerging markets expertise that includes working on regulatory requirements defined by South Africa's FSB, MAS of Singapore and BDDK of Turkey. Because our consultants have provided services to Global, European, Emerging Markets and North American banks, we are well positioned to assist your organisation in meeting its regulatory requirements.
Dodd Frank and CFTC
United States regulators are requiring banking and trading organisations to comply with the developing Dodd Frank legislation. The impact is far reaching and the legislation is yet to be finalised. Our senior resources have been on the Dodd Frank DTCC committee for Commodities and FX derivatives. We have also had our consultants working on the ground specifying requirements for clearing, execution and reporting. We can apply our experience to rapidly implement a solution for your business.
The impact of the second phase of MiFID is substantial for banks and trading houses in the commodities space. Our consultants implemented MiFID I and can assist your organisation to see through the confusion in detailing your requirements to the European regulators.
Target Operating Model
Our consultants have designed and implemented target operating models to support the regulatory reporting and control framework at Global, European, Emerging Markets and North American banks. We can design transitional frameworks to move your organisation or division from where you are today to the Target Operating Model required for your organisation in the future.