November 25, 2020
The EBA issues new guidelines regularly to help keep the financial industry healthy and fair, but sometimes keeping-up with these best-practice ways of operating can be challenging. There is, however, always a pattern to these guidelines. There are vital points that they continuously come back to and reiterate time and time again, and if you can put the time and effort into getting them right, it becomes much easier to stay on top of all the changes that come your way. Read more
November 11, 2020
We’ve long believed that it’s the people that truly make a company, project, or program successful or not – but finding the right people with the right expertise and experience can be challenging – especially when the position is only needed temporarily. And what can be as equally frustrating? Being the person with the right expertise and experience but not having the opportunity to be connected to the right position. Read more
October 28, 2020
It’s no secret that RegTech is changing the way our industry operates. In fact, these days, it seems the term “RegTech” is absolutely everywhere – is it more than a buzzword or a superficial trend? We think not. And if you’re too afraid to ask, RegTech is simply short for Regulatory Technology, and it’s very much having its moment right now, making a significant impact on the world of regulatory monitoring, reporting, and compliance. With innovation (a fundamental principle within our company) and IT being close to our hearts, developing a cutting-edge RegTech capability of our own only made sense, and we have been able to use our collective experience and expertise to inform and shape an exciting menu of services. Read more
October 14, 2020
Despite these unusual times, we’re lucky enough to be still growing rapidly and to support, elevate and facilitate this growth – we’re hiring!
We’ve always held the belief that it’s the people, their ideas, and pragmatism is what truly makes a company. We’re looking for enthusiastic and adept people to join our team and help us continue to build and shape ACE into the forward-thinking and personable company we’ve always envisioned. We’re moving past the scale-up phase, and we’re getting ready to launch several new initiatives that we feel might just change the regulatory game. Read more
September 29, 2020
There has been a trend developing within the financial industry to consolidate the task of managing all regulatory changes within credit risk into a single team. For the last few months, we’ve been working closely with one of our clients to set up just such a team – one they decided to name the Credit Risk Expert Team. This type of restructuring and the consequential follow-through has many advantages once it’s up and running. It’s one central place in the organization to create, maintain, and manage regulatory changes related to credit risk, with oversight on implementing the requirements and validation of the outcomes. It also means higher data quality, more transparent workflows, better overall communication between departments and stakeholders while promoting ownership and accountability throughout the process. Read more
September 14, 2020
After 10 long years of debate and refinement, The Netherlands’ new pension reform has been agreed upon. The new sweeping measures make up the most significant pension reform change the country has ever seen, and it will all come into effect on January 1st, 2026. But don’t let the six-year lead time lull you into a false sense of security – to comply with these new measures, you’ll need every day you can get.
So, just how big of a job will it be to meet these reforms’ requirements? Read more
August 26, 2020
The Three Lines of Defence model for managing risk isn’t without its flaws. In previous blogs, we’ve shared some of our insights into what those shortcomings are and our ideas on how to improve upon them. But in working towards making the Three Lines of Defence model as efficient as possible, next to the need for data analytics skills, we can’t ignore the people-driven nature of the system.
Frequently, people are hired based solely on their experience and hard skills, but the job is as much as about having people skills and being a strong communicator as it is about having expertise. The most extensive knowledge is meaningless if it can’t be communicated with clarity, conviction and consideration. Challenging and support (see CP EBA and IIA update on 3LoD) of the First Line cannot be effective without well developed people skills.
So, how can you ensure that you have the right people on your teams? Read more
July 20, 2020
The twelve Agile principles – created to help solve IT challenges – have been around for nearly two decades now, inspiring many process frameworks, like SCRUM. The agile principles are still as relevant as ever by using people-focused communication, embracing changing requirements, creating trusted and empowered teams. They’ve done well to allow for more creativity, more flexibility, and end-result products that more closely align with a solution that the client wants. This all sounds perfectly ideal – and in some industries it absolutely is but:
How are these Agile principles applied in the context of regulatory compliance, and is it working? Read more
July 1, 2020
The regulatory change cycle can be exhausting and relentless. With insufficient time, money, and resources to implement meaningful, structural solutions, our clients often feel like they’re being held for ransom by the system; that they’re only barely making compliance deadlines with one-off, band-aid solutions that leave their teams exhausted and no more prepared to meet the next change.
But the regulatory change cycle doesn’t have to be a vicious one. Read more
June 17, 2020
The full impact that the COVID-19 pandemic has had on our world will likely only truly be understood once we’re past it – but it shouldn’t stop us from gathering the learnings we have now and adapting the best we can. Recently, the European Banking Authority published a paper entitled “The EU Banking Sector: First Insights into the Covid-19 Impacts” to shed some light on the ever-evolving situation.
So, what are our main takeaways from this report? Read more