Governance, Risk & Compliance
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Governance, Risk & Compliance

Your challenges

Evaluate your risk management and internal controls

Maintain compliance in a volatile regulatory environment

Install a GDPR mindset in your organization

TriFinance helps clients build and maintain a control environment that protects value across all aspects of operations, from systems to processes and people

Risk management

It takes twenty years to build a reputation and five minutes to ruin it. If you are aware of that, you will think differently about risk management and controls. 

Although risk management initiatives are often inspired by external factors like new regulations, some business leaders proactively balance performance and risk appetite with enhanced risk management capabilities, embedding general risk-awareness in their company culture and daily activities. 

Internal Audit & Controls

TriFinance helps clients build and maintain a control environment that truly protects value across all aspects of operations, from systems to processes and people. Our approach reconciles growth with compliance by focusing on the areas of greatest importance and value to your organization. 

 

You can protect enterprise value through effective risk management and internal controls processes.

Risk management 
It takes twenty years to build a reputation and five minutes to ruin it. If you are aware of that, you will think differently about risk management and controls. TriFinance helps clients build and maintain a control environment that truly protects value across all aspects of operations, from systems to processes and people. Our approach reconciles growth with compliance by focusing on the areas of greatest importance and value to your organization.

Building a control culture 
To face the risks of an economic era characterized by growing complexity, digital transformation, speed of innovation, and scrutiny from regulators, our consultants work with executives, managers, and audit committees at companies of any size, public or private. 

We provide expertise to: 

  • Build, enhance, and evaluate enterprise risk management processes
  • Set up and evaluate internal controls to comply with regulations (Sarbanes-Oxley Act, General Data Protection Regulation,..) or to embed a control culture in your organization.  
  • Assist in the set-up of the internal audit function and the execution of internal audit programs through a variety of collaboration models, from co-sourcing to outsourcing.
  • Set up and evaluate the effectiveness of information systems governance and controls.
  • Shift from top-down control to process-driven compliance.

 

GDPR

If your company holds personal data on people living in the European Union, it falls under the mandate of GDPR, the EU's General Data Protection Regulation. The cost of non-compliance is high. Data Protection Authorities have already issued rulings and penalties that indicate data privacy will be high on the agenda in the years to come. TriFinance helps you to evaluate and improve the way you gather, use, manage and protect personal data in a GDPR world.

 

Evaluate and improve the way you gather, use and protect personal data in a GDPR world.

The need for GDPR compliance 
Companies conducting business and holding personal data on just one person living in the European Union fall under the mandate of GDPR, the EU's General Data Protection Regulation. 

The cost of non-compliance is high. Data Protection Authorities have already issued rulings and penalties that indicate data privacy will be high on the agenda in the years to come. With potential penalties ranging up to 4 percent of a company’s worldwide revenues, government authorities are serious about ensuring the protection of personal information collected, stored and used by organizations.

We believe that the path to sustained privacy compliance goes beyond data and starts with a sound understanding of business processes and the “how” and “why” you gather, use, and retain personal data. 

GDPR Service à la carte
Our team of experts provides you with the support, expertise, and framework to evaluate and improve your data-processing practices to comply with GDPR. We combine our do-how expertise in business process management, transformation, internal audit and data services to assist your Data Protection Officer with: 

  • The evaluation and audit of your current privacy policies and their operating effectiveness
  • The adoption of a governance framework leading to continuous compliance. By connecting the data register, business processes and IT infrastructure in one environment, our framework creates insights and visibility for continuous improvement. In combination with compliance procedures (including data breach handling and data access requests), the framework generates the awareness required to bring GDPR to life throughout your organization
  • A portfolio of training courses to raise your employees’ understanding of data privacy and to increase their involvement 
  • The selection and adoption of technology to evaluate risk and impacts, improve interaction with data subjects, manage information assets, identify and handle incidents, and track compliance with real-time dashboards

Our preferred partner ServiceNow provides capabilities to identify the applications that touch personal data and provide a means to gather audit and control evidence, tracking compliance of those applications across functional groups.

Risk & Compliance in Financial Institutions

Risk Management has evolved over the past decade, largely in response to regulation. TriFinance experts have a profound knowledge of evolving regulatory requirements and a thorough understanding of each regulation’s underlying activity, processes, and instruments. We help financial institutions that are undergoing a wide range of transformation processes to evolve towards efficient and effective Risk and Compliance management. 

 

TriFinance helps financial institutions undergoing a wide range of transformation processes to evolve towards an efficient and effective Risk and Compliance management.

TriFinance can support you by:

Setting up an appropriate Internal Control framework with a challenging Risk Management role 
Our experts have a profound knowledge of evolving regulatory requirements and a thorough understanding of each regulation’s underlying activity, processes and instruments such as:

  • Setting up a risk-sensitive internal control framework
  • Putting in place regulatory guidelines on sound outsourcing practices 
  • Optimizing the internal control framework around the Solvency II and Basel III frameworks 

Strengthening the Internal Control role of the Compliance department
We build bridges between different internal control stakeholders while gradually moving to common internal control methodologies and metrics.

Optimizing end-to-end processes to create business opportunities while addressing regulatory expectations
Our experts can be deployed to embed regulatory changes (a.o. KYC, AML, MIFID2, GDPR, PSD2, BRRD, ...) in different areas. These include gap analysis, priority setting, documentation, redesign of processes, training programs and the creation of synergies with other Internal Control projects.

Financial Risk management 

We create value for our customers in a wide range of Financial Risk-related matters and processes such as:

  • Identification of non-performing exposure, loan loss provision processes, and capital charge calculation methods
  • Process optimization and process documentation on capital management, credit risk, liquidity risk, and market risk-related matters
  • Assistance to financial institutions in the profound change process following a disruption, rapidly evolving customer expectations and more intense use of data analytics in lending and investment product processes;
  • Assistance in Assets & Liabilities management, Capital Requirement forecasting, Risk budgeting, Own Risk Assessment, and associated processes
  • Underwriting and investment criteria and Asset Allocation review in post-merger environments.

Challenges for the CRO for 2020 and beyond 
Risk Management has evolved over the past decade, largely in response to regulation. We support financial institutions in areas such as:

  • Model Risk Management and Enterprise Risk Management
  • Implementation of an agile operating model for the Risk Management function to remain a pro-active, efficient and effective second line of defense after the redesign of operational processes in lending or funding
  • Addressing supervisory concerns about the challenging role of the Risk Management function and its transformation from an operational to a more analytical function.

Streamlining and issuing Risk Reports that matter
The ‘supervisory dialogue’ will be increasingly driven by the results of the ‘horizontal’ supervisory benchmarking analysis. Additionally, persisting concerns about sustainable business models require increased agility and a focus on forward-looking views and projections.

TriFinance experts collaborate closely with the Business, Risk Management and Finance teams to challenge the different internal and external needs and to optimize multiple functional specifications.

 

Who will support you

Our flexible, pragmatic, tailor-made solutions are typically a combination of operational support, delivered by our Transition & Support Blue Chip Boutiques, and specific subject-matter expertise, industry knowledge and pragmatic advisory methodologies, delivered by CFO Services and Financial Institutions

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