Regulatory & Compliance

Our Expertises

In a constantly evolving regulatory context, the support functions are daily confronted with new regulations and constraints. We help them organize processes and people in the most efficient way.

We provide teams with new analytical and expertise capabilities to facilitate the construction / initiation of new compliance procedures and improve quality.We intervene from the impact analysis of new regulations to their implementation using a client centric approach.

Our experience includes a wide range of different regulations: regulatory reporting, new accounting rules (CRR II, DPM2.9, Solvency II, ESRB, IFRS 9, 15, 17 among others) and compliance requirements (MiFiD II, IRRBB, SRD II, TARGET II, ​​GDPR among others).

Regulatory Reporting

CRR II/Basel IV

  • LIQREP – Cash flow calculation implementation
  • NSFR – Impact analysis and implementation
  • Basel III/IV – Mortgage calculation implementation for COREP
  • Basel IV – New definition of default

Data Processing Model

  • Adaptations to the LCR amendments
  • Adaptation for FINREP 2020 concerning the definition of performing / non-performing loans

IFRS 9

  • Implementation of product segmentation
  • Model implementation for ECL calculation

Compliance Requirements

  • ESRB
  • IRRBB
  • MiFiD II
  • TARGET II
  • SRD II
  • GDPR
  • Solvency II

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.