ACE Company, the consultancy firm specialized in Regulatory Change, supports and assists in understanding, structuring and implementing (new) laws and regulations, which, due to their inherent complexity, effect all aspects of the organization.
ACE Company supports and aids organisations in understanding, structuring and orchestrating the implementation of (new) regulations and guidelines. The complexity of these regulations and guidelines mean that their implementation has a considerable impact on all aspects of the organisation in question and must therefore be orchestrated carefully.
ACE Company is the only consultancy firm in the Netherlands that specialises in advising on and coordinating complex law and regulation programs in the financial sector.
Our clients include banks, insurance companies, asset managers, pension funds and regulatory supervisory bodies. We distinguish ourselves by means of three key qualities: extensive experience with change management in complex situations, knowledge of and experience with laws and regulations and knowledge of the financial sector. Our clients also value ACE Company for business change programmes in the financial sector that do not have a direct regulatory bias. Our consultants excel at balancing content and process in such a way that they, together with you, ensure the success of regulatory change.
Our insight and capabilities are your advantage
We mobilise and guide teams of professionals to execute regulatory change
We provide our knowledge, skill set and insight in the field of regulatory change in financial services
The laws and regulations that financial institutions must adhere to has changed considerably during recent years.
Financial institutions face increasing pressure as a result of changes in financial laws and regulations. This pressure can be observed in several trends. First, there is a strong societal drive to curtail the undesired effects of the financial sector. This has resulted in stricter standards for risks and more stringent capital requirements when compared to the parameters of the pre-crisis financial sector. Furthermore, the sheer number of (sometimes conflicting) rules and regulations has increased substantially.
Second, considerable changes can be observed in the way that regulatory bodies translate societal pressure into rules and regulations when we compare the situation pre-and post-crisis. National and European legislators have introduced specific, concrete and detailed requirements that almost all elements of a business, particularly in the financial sector, must adhere to. These elements include, but are not limited to, products, services, organization, procedures, processes, communication, IT, data management. Such requirements have direct, important and widely applicable effects or implications for business models, strategies and operations.
Finally, supervisory bodies are less understanding and patient when it comes to the operational and strategic impact inherent in regulatory change rules and regulations than prior to the crisis. This is partly due to the fact that supervisory bodies are themselves under more political and societal pressure to guarantee and safeguard the stability of the financial sector.
ACE Company can help your organization to implement Regulatory Change, not only navigating the stringent and ever changing laws and regulations but also by identifying how to take advantage of the strategic opportunities inherent in them.
Coming to Grips with Regulatory Change
The challenges of Regulatory Change place fundamental demands on your organization, people, processes, data and IT. Organizing and mobilizing the capabilities of people and tools in the most efficient and effective way is necessary in order to comply with the legislation.
Subsequently, we are of the opinion that this legislation and its implementation offer strategic opportunities. Indeed, the implementation of principle based legislation gives you the opportunity to differentiate yourself from the competition. Furthermore, decisive orchestration will free up executory manpower and management attention that can then be used to focus on the opportunities created by Regulatory Change. However, insight into and knowledge of these opportunities is essential in fully exploiting their potential – one of our areas of expertise.
ACE Company advices on and assists organisations with regulatory change orchestration for both new and existing laws and regulations.
Concerning existing laws and regulations, ACE Company specializes in supporting and advising clients before, during and after supervisory bodies deliver on-site visit reports. Upon receiving the report, we assist in structuring, orchestrating and executing improvement programs in order to mitigate the risks identified by the supervisory body.Read more
In terms of new laws and regulations, ACE Company will first assess the impact of the new laws and regulations on all aspects of your organization. Which license holders do you have? Are all licensees truly necessary or can certain entities be combined? Is it possible to move activities between entities so that it is easier to comply to the new laws and regulations? How can we organize the organization in as simple a way as possible? As such, we firmly believe in organizing and structuring first and implementing after.Read more
It is our experience that Deal Teams or Transaction Teams are well-versed in the financial and actuarial risks they need to communicate, manage and mitigate. However, many underestimate (and therefore overlook) the seriousness in which authorities take the risks associated with operational and regulatory compliance aspects. These elements have become more important and the demands placed on them have grown stricter over time.Read more