Governance, Risk & Compliance

Risk

As the need for resilience grows, internal audit, internal control, and risk management must be more proactive. They need to better understand emerging risks, adapt to changing rules like ESG regulations, and use new technologies for insights.

The TriFinance Risk practice offers pragmatic solutions to build internal audit and control departments, helping them achieve their mission. Our services combine expertise in internal audit, internal control, and risk management with the latest technology.

Our services include key building blocks to develop the internal audit and/or internal control function of tomorrow, delivered by our Risk experts in close collaboration with our CFO Services knowledge network.

1. Internal Audit

What we do

We develop, implement and/or manage your Internal Audit department through various collaboration models, from outsourcing to co-sourcing. Our Risk experts conduct external assessments of your Internal Audit department's conformity with international standards for the professional practice of internal audit.

How we do it: Key Building blocks

1. Develop a risk-based internal audit plan
2. Use advanced analytics through the internal audit lifecycle
3. Execute internal audits beyond the traditional scope

2. Internal Control

What we do

We develop and implement internal controls to comply with regulations (e.g. Sarbanes-Oxley Act, ESG and GDPR) or to embed a control culture in your organization, in line with COSO principles.

How we do it: Key building blocks

1. Enhanced automated capabilities across your internal control framework
2. Include emerging trends in SOX controls
3. Assess your ESG internal control maturity

3. Risk Management

What we do

We develop, implement, and/or manage enterprise risk management frameworks, including the execution of enterprise risk assessments.

How we do it: Key building blocks

1. Enterprise Risk Management to define risk mitigating actions 
2. Enterprise Risk Assessment to identify and assess the strategic, financial, operational and compliance risks applicable
3. Enterprise Risk Tooling to support the risk assessment and management processes in an efficient and effective way

Risk & Compliance in Financial Institutions

Risk Management has evolved over the past decade, largely in response to regulation. TriFinance experts have a profound knowledge of evolving regulatory requirements and a thorough understanding of each regulation’s underlying activity, processes, and instruments. We help financial institutions that are undergoing a wide range of transformation processes to evolve towards efficient and effective Risk and Compliance management.

TriFinance helps financial institutions undergoing a wide range of transformation processes to evolve towards an efficient and effective Risk and Compliance management.

TriFinance can support you by:

Setting up an appropriate Internal Control framework with a challenging Risk Management role

Our experts have a profound knowledge of evolving regulatory requirements and a thorough understanding of each regulation’s underlying activity, processes and instruments such as:

• Setting up a risk-sensitive internal control framework
• Putting in place regulatory guidelines on sound outsourcing practices
• Optimizing the internal control framework around the Solvency II and Basel III frameworks

Strengthening the Internal Control role of the Compliance department
We build bridges between different internal control stakeholders while gradually moving to common internal control methodologies and metrics.

Optimizing end-to-end processes to create business opportunities while addressing regulatory expectations
Our experts can be deployed to embed regulatory changes (a.o. KYC, AML, MIFID2, GDPR, PSD2, BRRD, ...) in different areas. These include gap analysis, priority setting, documentation, redesign of processes, training programs and the creation of synergies with other Internal Control projects.

Financial Risk management

We create value for our customers in a wide range of Financial Risk-related matters and processes such as:

• Identification of non-performing exposure, loan loss provision processes, and capital charge calculation methods
• Process optimization and process documentation on capital management, credit risk, liquidity risk, and market risk-related matters
• Assistance to financial institutions in the profound change process following a disruption, rapidly evolving customer expectations and more intense use of data analytics in lending and investment product processes;
• Assistance in Assets & Liabilities management, Capital Requirement forecasting, Risk budgeting, Own Risk Assessment, and associated processes
• Underwriting and investment criteria and Asset Allocation review in post-merger environments.

Challenges for the CRO for 2020 and beyond
Risk Management has evolved over the past decade, largely in response to regulation. We support financial institutions in areas such as:

• Model Risk Management and Enterprise Risk Management
• Implementation of an agile operating model for the Risk Management function to remain a pro-active, efficient and effective second line of defense after the redesign of operational processes in lending or funding
• Addressing supervisory concerns about the challenging role of the Risk Management function and its transformation from an operational to a more analytical function.

Streamlining and issuing Risk Reports that matter
The ‘supervisory dialogue’ will be increasingly driven by the results of the ‘horizontal’ supervisory benchmarking analysis. Additionally, persisting concerns about sustainable business models require increased agility and a focus on forward-looking views and projections.

TriFinance experts collaborate closely with the Business, Risk Management and Finance teams to challenge the different internal and external needs and to optimize multiple functional specifications.

Who will support you

Our flexible, pragmatic, tailor-made solutions are typically a combination of operational support, delivered by our Transition & Support Blue Chip Boutiques, and specific subject-matter expertise, industry knowledge and pragmatic advisory methodologies, delivered by CFO Services and Financial Institutions.