Review and revision of the AML framework for a credit market company. The project included, among other things, developing a new risk analysis and anti-money laundering instructions together with those involved in the business. Development of new regulations for transaction monitoring of the company’s save/borrow products for the ongoing follow-up. Proposals for a new onboarding process were developed including questionnaires for customers. A full training program was developed for employees and management.
Today, we have several companies that have chosen to outsource their risk control or compliance function to us. These assignments are in the form of ongoing management assignments with long customer relationships.
For a credit market company, we were commissioned to maintain the compliance function role as Compliance Officer. The work included building and developing existing routines and frameworks to ensure compliance within the company. This included, among other things, drawing up an annual compliance plan that was established by the Board of Directors and then conducting ongoing reviews of the business.
In a number of cases, we have been engaged in the task of supporting internal audit departments regarding quantitative reviews. This has been for both larger and smaller players in the banking and insurance sectors.
The main objective was to develop methods, models, processes and tools to meet the requirements of internal models under the new EU directive. Periculo held main responsibility for the application to the Swedish Financial Supervisory Authority. In connection with the assignment, we also provided company-adapted training for management and the board of directors regarding Solvency II.
In connection with audit of a large bank, Periculo supported the internal audit with a review of the company’s valuation models for financial instruments and derivatives as well as credit risk models (PD, LGD and CCF). Periculo contributed their quantitative and regulatory knowledge.
For a medium-sized bank with corporates, institutions, households and consumer credit, Periculo was involved in developing IRK (PD, LGD and CCF) models for calculating the bank’s capital requirements and developing the methodology and model documentation.
Assignment at an insurance group where we, as project manager, coordinated and led the work within the business to implement the new General Data Protection Regulation, GDPR. The work included the development of regulatory interpretation, gap analysis, the preparation of an action plan and the updating/preparation of policies and guidelines, as well as relevant training. In the project, we were responsible for coordination with other areas affected by GDPR such as information classification (ISO 27000 series), AML and PSD2.
The assignment involves maintaining, on an interim basis, a line role that includes identifying the roles, functions and responsibilities of employees in order to maintain a record of who must undergo such competency development as prescribed by the Swedish Financial Supervisory Authority. Competency matrices are developed to give employees guidance on which training to conduct. Most training courses are carried out within the Group using e-learning produced for this very purpose. One example is training on the new mortgage regulations, where all employees who handle or decide on mortgages within the Group must undergo this training. Furthermore, reporting models are developed so that Compliance can continuously report relevant data to the Swedish Financial Supervisory Authority.