FiRisk Consulting led both PMO and project work streams for our client to ensure compliance with US Basel II Final Rules. This set of rules requires a financial institution to maintain sufficient capital for solvency and helps identify, manage, and report financial risks. More specifically, the project included the implementation of a rules compliant technology solution from project definition to deployment. As such, there was particular focus on specific rules, calculation and reporting compliance. FiRisk Consulting also played a key role in supporting the bank's processes and controls to both internal and external examiners (e.g. - Internal Audit, OCC, Compliance, Risk).
Large banking institutions are mandated under the Basel rules to establish rigorous risk and capital management requirements designed to ensure that the bank holds capital reserves appropriate for the risk the bank exposes itself to through its lending and investment practices. These regulations require the development of E2E solutions for regulatory and risk processes, establishment of policies and procedures, redefinition of management integration, and specific regulatory reporting and filing requirements.
These efforts focused on Basel rules compliance to support the bank's Parallel Period entry. FiRisk Consulting provided workstream specific expertise and overall program management support to our client.
The FiRisk Consulting Team was responsible for managing and executing on the following scope: