Avantage Reply assisted a Finance department of a well-known private bank in daily activity and reporting production of the Assets and Liabilities Management team. The key tasks were assist the team in the improvement and preparation of the Internal Liquidity Adequacy Assessment Process (ILAAP), advise on the regulatory requirements and contribute to the implementation of local.
Avantage Reply assisted a Finance department of a well-known private bank in the connectivity test phase within back office tool migration. The project covered a wide range of activities such as conducting multiple User Acceptance Tests (UAT) with on-shore teams, verify the impact of the change on regulatory reporting.
Avantage Reply assisted a Finance department of a well-known private bank in daily and monthly reporting production related to liquidity. The key tasks were: produce and certify various regulatory reports, such as LCR, AMT, NSFR incl. contributions to group consolidated reports; produce and certify integral liquidity reports based on inputs from various business line.
Avantage Reply assisted a Finance department of a well-known private bank in daily and monthly reporting production related to liquidity. The key tasks were: Produce and certify various regulatory reports, such as LCR, AMT, NSFR incl. contributions to group consolidated reports; produce and certify integral liquidity reports based on inputs from various business lines...
The regulatory classification of banking institutions, concerning their competent authority, is an important aspect that determines a lot about their regulatory obligations. Based on several criteria, a bank may be deemed significant.
The client, a major universal bank featuring a significant wealth management activity, was in the process of enhancing its IRB framework (Internal Ratings Based) following Basel IV requirements and feedback from the European Central Bank (ECB). This program has been launched to repair internal models used to calculate own funds requirements for credit risk under the Internal Ratings Based (IRB) approach.
In 2021, an internal systemic Bank launched a holistic risk assessment of its Depositary Bank (DB) business. As part of this review, Avantage Reply performed a review of DB exposure to risks related to outsourcing arrangements including the effectiveness of controls to mitigate associated risks.
Following the Supervisory Review and Evaluation Process (SREP), the bank received a letter from the Banque Centrale du Luxembourg (BCL) highlighting a number of findings and recommendations concerning its liquidity risk management framework. The bank was asked to address these recommendations as part of its submission of the 2021 Internal Liquidity Adequacy Assessment Process (ILAAP).
Following recommendations from Banque Centrale du Luxembourg (BCL) as well as the findings raised by its internal auditor, the bank wished to automate several operational and regulatory processes conducted by the Risk and Treasury departments.
In the context of Pillar 3 on public disclosure requirements and with the implementation of the regulation known as CRR 2, the bank is required to produce and publish every year a Pillar 3 report (annual and semi-annual versions). Avantage Reply was engaged to provide support and expertise in the Pillar 3 and CRR 2 regulatory requirements implementation.
The client, a major banking group specialised in the provision of online banking and trading services, was in the process of launching new derivative products for its retail clients and required assistance for the counterparty credit risk calculations and regulatory reporting of these products.
The client, a major banking group specialised in the provision of online banking and trading services, was in the process of launching new derivative products for its retail clients and required assistance with calculating the capital requirements for counterparty credit risk under the new standardised approach. This project was a continuation of similar work which Avantage Reply performed prior for this client, regarding the mark-to-market approach.
Avantage Reply supported a large bank in Luxembourg with a complete transformation of the internal credit risk model portfolio. In doing so, our team was involved in several steps of the model lifecycle: model development, model backtesting, model validation by the second line of defense, model review by the ECB and implementation of the model in the bank’s IT system.
The client, an international central securities depository, required assistance in the transition to the new regulatory reporting requirements (i.e. Capital Requirements Regulation 2 / CRR2) coming into force in June 2021. In particular, the reporting function needed support on the following topics.
Avantage Reply assisted a local universal bank with the effective implementation of data governance capabilities. As part of a broader initiative to ensure the bank’s compliance with BCBS 239 principles, our client needed to document the key source data related to credit risk and ALM calculation tools. Additionally, there was a need to define, implement and run processes allowing remediation of data quality-related issues.
Avantage Reply was tasked by a leading Wealth and Fund Management Bank to review and remediate the existing customer base KYC information, specifically for AML/CTF requirements. This task was required on the one hand due to changing regulatory requirements, on the other hand, because of the effect caused by Brexit on the customer’s UK branch.
The client, a crypto-currency exchange, has requested Avantage Reply to assist with an ongoing project around fraud risk. As the regulation around virtual asset service providers is not yet mature, the measurement of new and non-traditional operational risks is not an easy exercise. In fact, several players in the industry have recently found themselves being vehicles for the continuation of various financial crimes, including fraud. In the client landscape, scammers and individuals with malicious intentions have exploited the weaknesses of decentralized finance (DeFi) and have misappropriated even millions of dollars from their victims through first party or third party external fraud.
Avantage Reply assisted a European Institution in implementing its own version of Credit Risk models and migrating from Moody’s RAY to a Java-based solution implementation. The institution needed Avantage Reply support to ensure smooth communication between the business and the developers and to ensure the correct migration and implementation of the new models. All the process required completed documentation.
Avantage Reply has assisted a Private Banking group in the Eurozone in their embedment of Internal Capital Adequacy Assessment Process (ICAAP) & Liquidity Adequacy Assessment Process (ILAAP) exercise, s.c. ICLAAP.
Following the recommendation of the European Central Bank (ECB), bank’s current practice of ICLAAP had to be reviewed and challenged. The results of the review have been presented to the Management Body. In particular, identified gaps and attention points with respective actions to improve the way ICAAP and ILAAP are conducted. The analysis has been enriched with market best practices observed among various financial institutions in the Eurozone.
For a Top Tier Bank within its Data Quality Management (DQM) Department responsible for ensuring delivery of top quality reports to national and international regulators, the functional analyst joined the Agile team in charge of the liquidity-reporting tool: Moody's analytics liquidity solution.
The client is an insurance company where a team of insurance industry veterans who understand the challenges of MGAs and PA. Their goal is the implement and develop their business plan/action (already developed in Malta and in other countries) in the heart of Europe and other countries. We did support them in their policies, in their Third-Party Risk management (“TPRM”), in the completion of their risk register, in the support and control on the Risk Appetite Statement, in the completion of the Key Risk Indicators & metrics documents and in the support & control of the Own Risk and Solvency Assessment (“ORSA”) report.