Finance

Accounting

  • GAAP accounting compliance study
  • Design of the consolidation process
  • Financial statements, internal and external
  • Design of 1st and 2nd level accounting controls
  • Improvement of accounting processes: merger, split, reconciliation, etc.
  • Communication with auditors and top management

Project

  • Business analysis: MOA, AMOA …
  • Project management
  • Testing
  • Product Ownership
  • Change Management
  • Engineering in process improvement

Management Accounting

  • Improved budgeting and forecasting processes
  • Overhaul of intercompany rebill calculations
  • Implementation of cost accounting and revenue reporting
  • Implementation of forecasts at “product” granularity
  • Transfer pricing
  • ABC and ABM methods
  • Dashboard

Regulatory Reporting

  • Production of monthly and quarterly Basel II / III reports
  • Financial reports, solvency ratio reports, liquidity reports
  • Definition of new business needs and implementation in the reg-reporting tool
  • Analysis and reconciliation between regulatory reports
  • Content challenge of regulatory tools

Our Achievements

Focus Compliance: AML / KYC Expertise, Compliance Advisory, Data Management

What we have done

Compliance Advisory : MiFiD II

Conception of a new module for checking suitability & appropriateness of stock market orders according to the customer’s MIFID profile.

Conception of a stock market orders simulator with automatic orders generation based on the results of suitability & appropriateness checks and customer’s decision.

Implementation of an automatic daily portfolio valuation & loss follow up with an automatic account officer alert & customer notification from a threshold configurable according to the portfolio type.

Our Achievements

Focus Compliance: AML / KYC Expertise, Compliance Advisory, Data Management

What we have done

Data Management : Data quality framework

Implement Data quality framework to identify and develop business rules in addition to ensure measurement of progress in obtaining outcomes.

Long term plan coupled with business rules ensures that tactical business rules falls under the purview of the overall strategy.

Our Achievements

Focus Compliance: AML / KYC Expertise, Compliance Advisory, Data Management

What we have done

Scott & Owens supported ING Luxembourg in bringing customer defaults into compliance with the New Definition of Default, art. 178 of CRR2. The mission’s aim was to implement the new regulatory elements for default qualification, and to ensure their conformity with the EBA’s requirements.

Scott & Owens facilitated the interaction between Credit Risk and IT teams, as well as the transcription and technical illustration of regulatory terms with business objectives. Testing and monitoring of the common implementation were carried out throughout the whole counterparty risk process.

Our Achievements

Focus Compliance: AML / KYC Expertise, Compliance Advisory, Data Management

What we have done

AML / KYC Expertise : Due Diligence on customers

Perform Customer Due Diligence on corporate clients by identifying and verifying the following as it applies to entity under investigation using approved sources.

Ensure proper CDD/EDD is completed during client onboarding stages which include understanding of controls and ultimate ownership of customer’s entities and identifying PEPs.

Investigate full ownership and control to identify all ultimate beneficiaries and possible PEPs for KYC and risk management purposes.