Financial ServicesFinance Regulatory
The challenges being posed today within the Regulatory Change space are becoming increasingly significant and finding the right resources to deliver these programs of work is becoming decidedly more difficult.
Rate cards and preferred supplier lists, which were designed for generic change type resources, are frequently being used to attempt to provide very specialist subject matter experts with in-depth knowledge of regulatory programs and their associated issues.
Opportunities prevail for consultancies to maximize short-term revenues and margins. At SOHO, we want to lock down our interests and focus on becoming a strategically aligned partner with our main customers.
We believe we are better served in providing a larger pool of resources to fewer clients. We would like to build a strategic relationship with our customers to support their Regulatory Change programs globally.
Intermediate Holding Company (IHC)
- Complete Analysis of IHC structuring options
- Participate and provide suggestions for implementation plan
- Detailed mapping of US legal entities and plan and project timeline to transfer to IHC
- Provide forward looking quarterly pro-forma financial statements
- pro-forma regulatory capital ratios from Dec 2015 – Jan 2018
Comprehensive Capital Analysis & Review (CCAR) Program
- Governance – IHC Risk committee, IHC Board and Senior Management responsibilities
- Scenarios – Internal and supervisory scenarios generation, content, requirements and Qualitative guidance
- Regulatory Reporting – Support Global market shock scenarios, FRY-14A/Q reports and Economic Capital Stress Tests for FRY-14A
- Develop and deliver a reporting framework for US GAAP compliant financials for the IHC and its subsidiaries
- Develop the appropriate reporting classification, adjustment, consolidation processes and workflowsto deliver on regulatory requirements for the IHC and its subsidiaries
- Data for regulatory reporting must be at a sufficient level of granularity and provide traceability
Quantitative Risk Analytics
- Prepare trend analytics on model output
- Trace data across Finance to Risk systems
- Establish data quality, governance, policies and procedures
- Validate data of regulatory reports (FR Y-14A/Q/M)
- Aggregate risk data at various level
- Participating in industry discussions and, where requested represent client in various regulatory response working groups.
- Comply with Volcker rule that elicits scrutiny over FBO with excess of 50 billion in assets.
- Migrate repo assets from US entity to Clients Foreign entity to offset balance sheet impact.
- Dodd-Frank Part 43 and 46 Reporting of New Swaps
- Definition of data quality standards, management and monitoring of data quality across 7 dimensions (completeness, timeliness, validity, accuracy, precision, uniqueness, integrity)
- Data Lineage – Ability to demonstrate flow of data from source to target system
- Data Trace – To ensure that data inputs from major source systems to the Regulatory reports