Internal Governance and Control
Internal governance and control is a continuous process with the intention of helping a company reach its goals within a wide variety of areas:
• Establishing an appropriate and efficient internal organisation methodology
• Conducting reliable financial reporting
• Compliance with applicable rules and regulations
This process affects all parts of an organisation. It is therefore important that internal governance and control is integrated in an organisation, all the way from planning to completion and follow-up. An important part of these activities is the consideration of risk analysis, controls, follow-ups and documentation. An organisation is required to follow not only rules, regulations and recommendations, but also policies, instructions and guidelines.
High demands are placed on financial actors in order to achieve good internal governance and controls; they should be seen as effective tools for reaching the organisation’s goals. Periculo has worked with several companies to establish activities and processes and outlining documents for internal governance and control.
Well-functioning risk management and internal governance and control are central to achieving long-term profitability. With the right processes, procedures, tools and competence to identify, measure, control, and communicate the risks that the business faces, the company can manage its risks in a satisfactory way.
Periculo has extensive experience of working with risk management and internal governance and control. We can provide expertise in, for example, the implementation of new risk models, or in the introduction of new procedures and processes for better internal controls. We also provide the Risk Control function for customers who need, for example, an interim solution or want to outsource this feature for various reasons.
Financial companies today face huge demands on compliance to ensure that the business adheres to both internal and external rules and regulation. In order to limit the potential risk of not meeting compliance demands companies need to work proactively. Confidence and trust in the financial markets is key and any regulatory short comings may result in fines, sanctions and potentially also damage your brand.
Periculo can assist with experienced consultants, who have extensive knowledge of implementation of compliance processes as well as overseeing regulatory procedures and processes. We also offer the Compliance Officer function on an interim basis or as an outsourced function for companies that do not wish to keep the function in house for various reasons.
Periculo has long been providing project management services including project/program leadership, project coordination and project management via a project office.
We have, for several clients, run projects within change management, where we have been responsible for delivering a complete solution in accordance with set project directives. This has mainly meant assignments in our service areas risk, compliance and financial & reporting. We also have experience of leading finance, business and product development projects in the banking, finance and insurance fields.
An important area, closely connected to risk management and compliance, is education. Without sufficient knowledge of new and changed regulations, both the implementation and application of these will be difficult to achieve.
Periculo offers training in various formats within our service areas. We run both open access courses and company-adapted training in our or the customer’s premises and also through Teams. So far, we have engaged in training and lectures on, among other things;
o EU Data Protection Regulation/GDPR – personal data protection regulations, etc.
o CRD/CRR/GL 11 — prudential requirements for credit institutions and securities companies (capital adequacy, liquidity management, etc.)
o Reguatory reporting Solvency 2 – reporting regulations, data quality requirements, approval, etc.
o Consumer credit law – the rules for credit assessment and the new rules on amortisation requirements, etc.
o AML/ Anti-Money Laundering – regulations on anti-money laundering and terrorist financing
o Enterprise Risk Management – risk management and internal controls framework.
We continuously add new topics such as new licensing requirements for mortgage operations (providing or brokering credit), where market participants need training on the rules and implementation support.
For more information about our current courses, see the Current courses page. Our course offering is continuously updated.