Compliance – Operational Risk Management

Today, compliance is an integral part of the control system, and its scope may in some cases be extended to operational risks and permanent control. Its place has become strategic within the Risk Management functions.

Compliance must now be seen as an essential vector for the dissemination of good regulatory practices, due to its central position in the organization chart of institutions.

According to the law, compliance risk is defined by the Basel Committee as a risk of sanction – legal, administrative or disciplinary – of financial loss or damage to reputation, due to the lack of compliance with legal and regulatory provisions, professional and ethical standards and practices, specific to banks’ activities.

i-Fihn Consulting Support

i-Fihn Consulting is involved in various compliance consulting missions for businesses related to operational risk management, including the “Compliance” part, and all our methodological divisions (Project Management, Consulting, Business Analyst) accompany our business offers.

Our consultants approach these subjects by taking into account the problems of data analysis (Big Data) :

  • Risk mapping: aligning the regulator’s demands with the risks to which institutions are exposed
  • Defining Business Reporting
  • Data crunching
  • “Fine Tuning”/Statistical Analysis

In addition to business experts, we also involve Data Scientists and Statisticians on this type of project, allowing us to understand the data issues essential for these missions.

Our consultants intervene as well in “Buy Side” as in “Sell Side” on the following subjects:

  • Anti-money laundering (ALM)
  • Market Abuse (MAD Directive)
  • K.Y.C. Policy
  • Rogue Trading