Basel II

The UK perspective

The Financial Services industry is facing an ever increasing burden to ensure regulatory compliance. These regulations include Basel II and its implementation in the UK through the FSA Prudential Source Book, MiFiD, IAS39 and Sarbanes-Oxley to name but a few. Add in the ratings agencies and new business lead projects and you have a real pressure cooker effect.

Most of the major international banks have well structured programmes in place to ensure compliance with many of them seeking the advanced levels of risk management described in the regulations. However for many smaller 2nd and 3rd tier financial institutions Basel II still represents a significant challenge.

International markets

This is also true for many international markets outside of the US where domestic banks are largely ignoring Basel II. For smaller international markets in the Middle East and Asia, local banks cannot afford to ignore Basel II because of the competitive pressure from the local operations of the major international banks.

This has been recognised by the key regulators in these regions such as SAMA in The Kingdom of Saudi Arabia, the CBB in Bahrain, the HKMA in HongKong, the RBI in India etc. These regulators are now driving local banks to achieve at least the minimum standards set out in the Basel II accord. The larger local banks have the resources and capabilities to at least attempt this but many smaller banks are likely to struggle. Internal resources will be limited and the pool of external expertise will rapidly dry up as banks scramble to establish their programmes.

TCL's services

Transformis Consulting's associates include an umbrella group of leading practitioners who work together to assist clients to identify their needs then to combine the right resources to ensure cost effective and value added delivery.

We are practitioners who believe in a common core set of values: whose philosophy is to provide consultancy which tailors specifically to the client needs, delivers bespoke solutions, and ensures great execution and, above all, client satisfaction.

Our core financial services team is composed of the key resources that designed and developed the Basel II programme for one the largest banks in the GCC, based in Saudi Arabia.

Transformis Consulting is well placed to deliver. We have extensive expertise in risk management and specifically Basel II programmes in the Middle East and Europe. We have experience across all the major risk disciplines (operational risk, credit risk and market risk) in:

• Developing and implementing governance and policy frameworks
• Dealing with regulators and regulatory issues
• Developing and implementing processes and procedures
• Organizational framework design and implementation
• Systems and MIS

We have developed an effective approach that can be customised to your needs and that will identify the issues. We can then provide a solution based on:

• Doing what needs to be done.
• Quality of execution and cost effectiveness.
• Fitting project work around your business as usual requirements as far as possible
• Utilising existing resources as much as possible – to maximise the knowledge transfer and learning for the future

 At Transformis Consulting:

• We work collaboratively with our clients as partners.
• We focus on our clients' individual needs and develop tailored programmes to meet them.
• We take our clients through a tried and tested framework (approach?) to reduce complexity, focus on specific needs and increase business benefits.

This requires a balance between strong measurement and quantitative capabilities, proven excellence in organizational and process design skills in such areas as strategic planning backed up by delivery focused stakeholder and programme management capabilities

We can deliver on a multiplicity of fronts including:

• Basel Diagnostic / gap analysis
• Risk management (all aspects – credit, market, operational)
• Risk measurement model development and assessment planning
• Programme management
• Project management
• Communication (internal and external, especially with the regulator)
• Technology design and implementation management 
• Status reviews including assessment, quick wins, remedial actions and longer term programmes
• Programme set-up & management
• On-going assurance
• Implementation management
• Survey tools

For further information contact us. To find out more about our approach click here. For bio's of the core risk team click here.

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Last modified: 07-01-2010