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Transform reactive response into confident leadership
The complexity of today’s risk and regulatory environment is unprecedented. To help you define and strategically approach the relevant threats for your business, PwC brings together decades of real world experience to create an integrated approach that effectively manages risk, complies with regulatory requirements and drives your business strategy.
Pricewaterhousecoopers Consulting (Singapore) Pte. Ltd.was awarded the Monetary Authority of Singapore’s Financial Sector Technology and Innovation (FSTI) Proof of Concept (POC) grant on 26-May-2020. The FSTI POC grant provides funding support for experimentation, development and dissemination of nascent innovative technologies in the financial services sector.
How we can help you
BCBS 239
The 2008 Financial Crisis has demonstrated how weak foundations and governance over Risk Data Aggregation and Risk Reporting processes can bring about a crisis in the financial services ecosystem.
PwC’s tried and tested and innovative approach to BCBS 239 compliance can enable you to secure compliance in a cost-effective way.
We can help you with:
- Gap analysis
- Roadmap and business case development
- Programme implementation
- Independent validation function set-up
- Business benefits and insights extraction through analytics and reporting
- Benchmark of BCBS 239 programme compliance and maturity
Why PwC?
We have successfully supported multiple global systemically important banks and domestic systemically important banks worldwide and was awarded the Outstanding Project for BCBS 239 Implementation in the Regulation Asia Awards for Excellence 2018.
In Singapore, we are the only external consultant to support banks in their BCBS 239 journey from strategy through to execution. We conduct quarterly BCBS 239 industry roundtable events, engage with regulators on implementation challenges, and publish several thought leaderships.
LIBOR transition
The replacement of the London Interbank Offered Rate (LIBOR) at the end of 2021 is one of the few changes to the financial markets that is expected to be cataclysmic.
As the clock ticks and uncertainties loom large, you would need a steward to steer your firm towards stability amidst uncertain territories - our experience managing LIBOR projects end-to-end, makes us the perfect partner for you.
We can help you with:
- Programme mobilisation and governance
- Impact assessment and transition planning
- Contract management and remediation
- Client, customer outreach and communications
- Systems and process changes
- Risk and valuation model changes
- Tax and accounting implications management
IFRS 17
Aimed at providing more transparency and comparability compared to current accounting standards, IFRS 17 is a double-edged sword. While it is the biggest shakeup to hit insurance reporting for decades, it also presents opportunities to harness data more effectively, to improve the structure of your finance function and to better inform your decision making.
IFRS 17 Soft Design
A soft design process can help insurers identify an effective IFRS 17 technology solution and operating model | Duration 4:31
We can help you with:
- Gap analysis
- Data and systems analysis
- Impact assessment
- Business case development
- Programme management
Data Governance and Quality
To fully unlock the potential of data and have meaningful analytics, we have to ensure that data is well governed, of good quality, and ultimately fit for purpose.
It is our passion to help organisations jumpstart and enhance their Data Governance and Data Quality initiatives and we have successfully done this for a number of clients.
Are you ready for the data age?
Duration: 1.24
We can help you with:
- Target State Definition and Gap Analysis
- Roadmap and Business Case Development
- Data Management / Governance Function set-up
- Data Governance and Data Quality Policies and Procedures
- Data Quality Rules and Controls Design
- Data Analysis, Dashboarding, and Reporting
- Data Management Benchmarking
Citizen-Led Transformation
Managers of financial institutions are under pressure from boards of directors, investors and regulators to (1) deliver improved, consistent, and more transparent reporting, and (2) effectively price for risk when making business decisions, while (3) meeting regulatory expectations.
PwC can help your organisation transform the Risk and Finance Functions to meet these objectives and remain on the path towards continued growth.
We can help you with:
- Risk and Finance Governance Structure and Process Review and Optimisation
- Risk and Finance System and Data Alignment
- Business Case Development
- Change Management and Training
AI for Reporting
Robotics Process Automation (RPA), Machine Learning (ML) and other emerging technologies can deliver productivity, but they are only as good as the leaders who identify its opportunities, the technologists who deliver it and the people who work with it every day.
With the right mix of subject matter experts in Risk, Finance and Technology, we are well equipped to realise the power of emerging technologies.
We can help you with:
- Process Assessment and Review
- Cost and Benefit Analysis
- Business Case Development
- Technology Solution Development
- Workforce Upskilling / Training
- Culture and Change Management
Risk Culture
Even as many firms have worked on transforming the way they operate in the decade since the financial crisis, financial scandals, control failures, and ethical violations have continued to keep enterprise risk management and risk culture top of mind for a range of internal and external industry stakeholders. Hence, conduct risk has taken center stage to ensure market integrity. More lately, the awareness of the financial sector’s role on sustainability (Environmental, Social and Governance Risk - ESG) has become a forefront of many revisions in risk frameworks to integrate these newest risks.
We have supported the biggest global organisations, governments and policy setting bodies to support you in adopting a holistic approach to managing your risks.
We can help you with:
- Enterprise Risk Management Review
- Internal Controls Review
- Risk Culture Assessments
FinTech Risk Management
With the increasing focus on FinTech solutions to drive digital banking and open banking, it is essential for both the traditional brick and mortar banks as well as the new fintech players to understand the risks and regulations applicable to ensure that on top of meeting regulatory demands, they are also poised to take advantage of the dynamic and vast under-served markets in Asia.
We can help you with:
- New Products and Services Business Viability Assessment
- Business Requirements Collection and Definition
- User Experience (UX) and User Interface (UI) Product Testing
- Risk and Regulatory Advisory
Thought leadership
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