Financial Services Governance, Risk & Compliance

Focus on shaping the future of business, and execute strategies on impact of risk and regulation, financial technology, and the changing needs of the customers.

In our world today, banks and other financial institutions are facing an ever evolving business challenges whether locally or globally. The intensity of this challenge in today’s business environment in one of the core drivers of economy requires new ways of thinking about risk.

The PwC Risk Assurance - Financial Services helps clients turn risks to advantages through offering global expertise on business risk and control solutions. We focus on the future of financial services, effectively working with clients as they shape their business and execute their strategy.


Key issues

Economic and Market Conditions

The financial services industry today is unsteady. Its major assets and activities are facing continued weaknesses due to aging populations, maturing markets and stagnant growth. PwC Risk Assurance - Financial Services helps client to remain competitive in today’s business climate through focusing on the establishment of an optimum resourcing model with access to staff resources that implements a world-class Internal Audit Methodology.

Digital Disruption

The digital age is here. IT Systems are fundamental part of your organization and clients, customers and regulators need to trust it. PwC Risk Assurance - Financial Services help clients design and implements IT risks and control solutions that reflect a complex and fast changing technological landscape and leverage investments in IT for maximum business benefit. We can help in managing and maximize digital exposure and opportunity.

Cybersecurity & Privacy

Trust & Transparency

Organizing Big Data

Executives who once relied firmly on their intuition and experience are now face-to-face with machines that can learn from massive amounts of data. Through data analysis, irregular patterns, questionable transactions or relationships in source data that may be indicative of business risk exposures or fraudulent transactions are quickly identified. This will also allow the clients to define the relationship between operational risk, fraud risk and the overall control environment within risk and control processes.

Data & Analytics

Risk Management

Accepting risk is a fundamental part of a financial institution’s business. Financial institutions cannot avoid risk entirely, and the most successful institutions are those that identify the appropriate levels of risk to assume and put the appropriate measures in place to manage that risk. PwC Risk-Assurance - Financial Services helps client to identify and balance risks by providing a timely review of processes and controls that can help ensure that their design continues to address your needs while maintaining efficiency and effectiveness.

Regulatory Burden

Since the global financial crisis, regulation of the financial services industry has increased significantly. Embracing the opportunities compliance can bring is the only way to stay competitive. PwC Risk Assurance - Financial Services offers Compliance Management Solution through execution of compliance audit and gap analysis to find out major gaps in organization and sharing recommendation for identified gaps.

Increased Competition

Competition within the financial services industry is still very strong. Consumers expect for more personalized service. They also prefer automated services with easier access. Institutions that provide all of these services will firmly dominate their share in the marketplace. PwC Risk Assurance - Financial Services adds value to clients in providing practical advice and benchmarking against local publicly listed companies and peers within the region.

How we can help

Internal Audit Outsourcing and Co-sourcing

Enhance the performance of your internal audit function and drive value for your business by using tailored audit methodology, data-driven risk identification and virtual service delivery model.

Independent Compliance Testing (ICT), AML/FATCA Compliance Review

Executing compliance audit and gap analysis to find out major gaps in organization, and sharing insight in recommendation for identifies gaps and assisting to re-design and implement policies for key processes.

Business controls advisory

Strengthen your internal controls to deliver operational results through design and review existing standard operating procedures to reflect the current operating environment, benchmark processes and/or systems against leading industry control templates, optimize existing internal controls to address the most critical business risks and develop a risk-based, internal control framework.

Development of manual of operations

Keep your processes documented and updated (i.e. MTPP, Branch Operations, Remittance, IT policies, etc.) to address regulatory requirements.

Internal Audit staff secondments

Build your internal audit competency by having us support you by deploying our people to perform the audit together with your team.Development of manual of operations Keep your processes documented and updated (i.e. MTPP, Branch Operations, Remittance, IT policies, etc.) to address regulatory requirements.

ICAAP independent validation

Providing an assessment on your design and use of Internal Capital Adequacy Assessment Process (ICAAP) to ensure compliance to the minimum regulatory capital requirements.

BSP Circular Compliance Assessment (i.e. 808, 982)

Comply with regulatory matters that have uncovered operational issues in IT and information security. Validate automated controls and processes to meet regulatory as well as statutory compliance requirements.

Contact us

Maria Rosell S. Gomez

Maria Rosell S. Gomez

Risk Assurance Leader, PwC Philippines

Tel: +63 (2) 8845 2728

Ana Mae Bautista

Ana Mae Bautista

Risk Assurance Manager, PwC Philippines

Tel: +63 (2) 8845 2728

Desiree Ann Beltran

Desiree Ann Beltran

Risk Assurance Manager, PwC Philippines

Tel: +63 (2) 8845 2728

Nicole Erezo

Nicole Erezo

Risk Assurance Assistant Manager, PwC Philippines

Tel: +63 (2) 8845 2728

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