Financial crisis


Balance sheets are being subjected to intense scrutiny. All lending and business development strategies are being re-examined. The crisis has also raised fundamental questions about the approach to governance, risk management, and disclosure. Making sure that the bank’s employees have the necessary skills, motivation, and authority to operate within an increasingly challenging, regulated, and unfamiliar market environment is one of senior management’s major concerns. Another major concern is how to capitalize on a new range of opportunities for acquisition and business development.

Unfortunately, some elements of Quern’s long-established culture and time-honored practices are preventing it from making the necessary changes — in staffing, training, risk management systems, structure, and financial management — to deal effectively with these issues. The PwC engagement team sees opportunities that management has not yet recognized.