Financial Services

Financial Services

  • Does your business strategy link with your capital structure and risk management practices?
  • What is your position towards the continuously changing regulatory environment?
  • How do you ensure that any potential revenue leakages are blocked?

The sector faces unprecedented challenges, many of which stem from the financial crisis. The pace of growth has slowed, trust has been eroded – particularly in international markets – and the sector is in a rebuilding phase that will likely continue for some years.

PwC can provide insight, advice and support to help you respond to these challenges and exploit new areas such as developing a risk strategy, risk insight and underlying infrastructure of risk identification; preparing for compliance with the continuously changing regulatory environment; and gaining the edge in efficiency
and cost competitive delivery in the areas of revenue growth, network optimisation, debt management and controls and processes.

How we can add value to your organisation

Our teams work across all segments of financial services – commercial banks, insurers, asset managers and regulators. We operate at a global level to match our clients’ businesses, working with Greek financial services organisations with international operations, and international organisations with operations in Greece.

We have multi-disciplinary teams who work across all aspects of financial services. Our team members have local and global experience in the following areas:

Risk-based capital and liquidity risk management

Effective risk-based capital management and liquidity risk management is not just a key feature of regulatory compliance; it can also provide a more informed basis for decision-making and help to communicate the strengths and potential of the business to analysts, investors and rating agencies.
We are able to offer:

Risk-based capital management 

• design and selection of approach, methodologies and models
• technical guidance, risk appetite setting and development
• integration into business and capital planning and stakeholder communications
• model validation and benchmarking against market practices

Liquidity management 

• defining of strategic principles and guidelines
• development of tools and techniques
• development of monitoring, reporting and escalation procedures
• development and implementation of crisis management procedures

Compliance Effectiveness

Ensuring continuous compliance with existing regulations, as well as readiness for facing the challenges arising from new regulations, will maximise the competitive and strategic opportunities resulting from regulatory developments. With our knowledge and expertise we can ensure:

  • updates on key regulatory developments
  • design and development of anti-money laundering, fraud management and control assessments
  • development of integrated Business Continuity Management programmes to support the business continuity and sustainability
  • design and development of the necessary infrastructure and business model that will facilitate compliance with rules and regulations specific to investment products and services (MIFID and MIFID II)
  • facilitate smooth transition towards FATCA compliance and manage the entire project throughout the life-cycle of the FATCA implementation.

Internal Control System Review

The main challenges are evaluating the adequacy of the Internal Control System in accordance with the regulatory requirements and using the requirements as an opportunity to add value to Management through separate recommendations for further improvement of the Internal Control System, from the independent auditor’s point of view (opinion).  We are able to:

  • assess existing Internal Control System and identify controls incorporated in daily operations
  • evaluate the control environment, risk assessment process, management information systems and corporate governance issues.

Other services

PwC further offers a wide range of advisory services to financial services organisations in the following areas:

Operations

We have a team of dedicated financial services cost management and performance improvement specialists, who can help your organisation gain the edge in efficiency and cost competitive delivery, in the areas of revenue growth; network optimisation; debt management; and controls and processes.  We aim to deliver lasting savings and sustainable improvements in the operational efficiency of your business.

Finance & Accounting

We support CEOs, CFOs, controllers and treasurers to optimise the structure of their finance functions to improve their contribution to the business. Now that the focus for many has turned to insight, we support the finance function to challenge the following three competing priorities: 

• maintaining compliance and control 
• driving efficiency by blocking leakages or recovering lost revenues
• leveraging timely and accurate actionable knowledge through the use of business analytics

Technology

Financial services organisations find that improving IT performance has become essential as they strive to remain competitive and effective in this challenging environment.  To assist you in getting value from technology investments, we bring together the skills to deliver improvements in processes, as well as the knowledge in IT strategy, IT architecture and design, information security, information management, and enterprise applications.

People & Change

Getting the best of people at every level is the key to sustainable competitive advantage and it is what distinguishes a successful organisation. Our HR specialised team can support you in handling the following:

• HR policies and systems
• corporate performance management framework.
• performance evaluation and reward
• organisation structure alignment and change management
• building capabilities

 


As the industry landscape will continue to change, our financial services team will work with you to keep you ahead of your competitors. Let’s meet and discuss how we can best resolve the challenges you currently face.