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Management and regulatory consulting

An in­sti­tu­tion isn’t al­ways large enough to co­ver all forms of ser­vices on its own. Using out­side skills and ca­pa­city here can contri­bute si­gni­fi­cantly toward con­ser­ving the in­sti­tu­tion’s own re­sour­ces, as well as hel­ping as­sure qua­lity.

We of­fer:

Management and regulatory consulting© Thinkstock
  • Out­sour­cing of in­ter­nal au­diting, re­gu­latory re­por­ting, fi­nan­cial ac­coun­ting, and le­gal is­sues, on a com­plete or par­tial ba­sis
  • Ad­vi­sing on set­ting up plan­ning and con­trol­ling
  • Pre­pa­ring ap­pli­ca­ti­ons for per­mits and for per­mit ex­pan­si­ons
  • Quick Checks – Iden­ti­fy­ing po­ten­tial for im­pro­ve­ment in pro­ces­ses of in­ter­nal au­diting and risk ma­nage­ment, such as the im­ple­men­ta­tion of the new Mi­ni­mum Risk Ma­nage­ment Re­qui­re­ments that took ef­fect on Ja­nu­ary 1, 2013. 
  • As­sess­ment (on an au­dit ba­sis) of ra­ting con­cepts

In­ter­nal au­diting that is in­de­pen­dent of an in­sti­tu­tion’s own pro­ces­ses is in­dis­pens­able in the fi­nan­cial ser­vices in­dus­try. Ad­di­tio­nally, in the Mi­ni­mum Risk Ma­nage­ment Re­qui­re­ments, the Fe­deral Fi­nan­cial Su­per­vi­sory Aut­ho­rity (Ba­Fin) has laid down spe­ci­fic re­qui­re­ments for the or­ga­niza­tion and working pro­ce­du­res of in­ter­nal au­diting. It’s com­mon prac­tice to out­source all or part of in­ter­nal au­diting – de­pen­ding on the in­sti­tu­tion’s size – to au­di­tors who spe­cia­lize in the field. Cor­po­rate ma­nage­ment gets ad­ded va­lue when it can make use of high-per­for­mance au­diting that pro­vi­des risk-ori­en­ted over­sight and broad ex­pe­ri­ence.

An­yone who wants to pro­vide fi­nan­cial ser­vices in Ger­many must have a per­mit from Ba­Fin. The ap­pli­ca­tion for the per­mit must also in­clude com­plete busi­ness plans and or­ga­niza­tio­nal prin­ci­ples. As a part of the fur­ther re­gu­la­tion of ca­pi­tal mar­kets, the In­vest­ments Code pro­vi­des that fund ma­nage­ment by in­vest­ment ma­nage­ment com­pa­nies, for­merly un­re­gu­la­ted, will also be sub­ject to per­mits by July 22, 2014. Per­mit re­qui­re­ments vary de­pen­ding on the in­vest­ment as­sets being ma­na­ged. An ent­irely new list of ob­li­ga­ti­ons will ap­ply to com­pa­nies ma­na­ging clo­sed-end as­sets. They will need to ad­just their pro­ce­du­res and struc­tures in time to meet the new re­qui­re­ments. We’ll be happy to pre­pare the ap­pli­ca­ti­ons for you or with you.

The new Mi­ni­mum Risk Ma­nage­ment Re­qui­re­ments re­leased in De­cem­ber 2012 re­quire in­sti­tu­ti­ons to im­ple­ment a ca­pi­tal plan­ning pro­cess, and to rein­force their or­ga­niza­ti­ons for the spe­cial func­tions of risk con­trol­ling and com­pli­ance. Pro­ces­ses and or­ga­niza­ti­ons must be de­ve­lo­ped fur­ther by the end of 2013.

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