The client is an European Investment Bank with global operations. Its expertise covers Corporate & Investment Banking, Private Banking, Asset Management, and Specialised Financial Services.
Maintenance and user assistance of the regulatory database used to compute and manage regulatory and accounting figures for the client’s group Common Reporting (CoREP)
The assignment covers the main aspects of the Capital Requirements Regulation (CRR) pertaining to the computation of the Risk Weighted Assets for Credit and Counterparty Risk, the limits and exposures (including funds and securitisation look-through) within the framework of the Large Exposures regime. It also encompasses all the activities related to the specification of IT requirements and user assistance on the system itself, as well as on its underlying regulatory principles (explanation of the reliability of the system computations).
The project started with a transition phase consisting of (a) the implementation of governance and organisational arrangements, processes and procedures to control and monitor the team assigned to the contract and inform the client on the global performance of the project (b) the development of the knowledge of the assigned team on the system, subject to the contract and on the client’s own system development life cycle (SDLC), and (c) the relocation of the services from the client’s Belgian to French office. Since completion of this phase, the assigned team has been maintaining the system subject to contract and assisting its users (mainly based in Portugal) on a stand-alone or business-as-usual basis (without the involvement of the client’s internal resources). The last phase will consist of the decommissioning of the system which is currently expected to be in 2021.