Banking
Meet our Banking Team
Understanding the Banking Industry
The ADI sector has experienced significant & ongoing consolidation for a number of years and this is expected to continue. Increased scale means more ability to compete and to invest - with investment in technology and people being critical to success.
Financial Accountability Regime
We assisted an ADI transition from BEAR to FAR, with an uplift in their Remuneration policy framework and their incident management framework to comply with ASIC requirements and meet better practice. We developed an updated Compliance Plan for the entity to provide a single source of truth for all legislative & regulatory obligations. We provided training to accountable persons to help them understand their obligations and the differences between BEAR & FAR.
Comprehensive reviews as required by APRA
PFS regularly undertakes independent reviews of risk management frameworks(CPS 220) and ICAAP for our ADI clients.
Our valued added insights and recommendations on fitness for purpose uplifted the maturity of practices including stress testing for interest rate volatility and unemployment scenarios.
RADI licensing applications
PFS Principal provided assistance to several banking licence applicants including preparing RMF documents, pre-licensing sign-off on capital, credit risk reviews, BEAR requirements, BCP advice and board skill matrix.
Acting as outsourced Chief Risk Officer
PFS principals acted as CRO for an ADI including reengineering risk reporting, advising on compliance and risk. Embedding risk into strategy led to an improved relationship with the regulator, better risk-aware decision making, and a lower cost compared with the in-house model.
Meet our Banking Team
Understanding the Banking Industry
The ADI sector has experienced significant & ongoing consolidation for a number of years and this is expected to continue. Increased scale means more ability to compete and to invest - with investment in technology and people being critical to success.
Financial Accountability Regime
We assisted an ADI transition from BEAR to FAR, with an uplift in their Remuneration policy framework and their incident management framework to comply with ASIC requirements and meet better practice. We developed an updated Compliance Plan for the entity to provide a single source of truth for all legislative & regulatory obligations. We provided training to accountable persons to help them understand their obligations and the differences between BEAR & FAR.
Comprehensive reviews as required by APRA
PFS regularly undertakes independent reviews of risk management frameworks(CPS 220) and ICAAP for our ADI clients.
Our valued added insights and recommendations on fitness for purpose uplifted the maturity of practices including stress testing for interest rate volatility and unemployment scenarios.
RADI licensing applications
PFS Principal provided assistance to several banking licence applicants including preparing RMF documents, pre-licensing sign-off on capital, credit risk reviews, BEAR requirements, BCP advice and board skill matrix.
Acting as outsourced Chief Risk Officer
PFS principals acted as CRO for an ADI including reengineering risk reporting, advising on compliance and risk. Embedding risk into strategy led to an improved relationship with the regulator, better risk-aware decision making, and a lower cost compared with the in-house model.
Contact us for more detailed information about our capabilities
Core Strengths
We have extensive expertise working with major banks, regional banks, mutual banks, credit unions, foreign banks and non bank lenders, including APRA licencing for RADIs and ADIs.
- Actuarial expertise and core knowledge of banking requirements
- Capital modelling, ECL modelling, comparison rate calculations
- Deep knowledge of the Information Security/Cyber Risk/CPS234 environment
- Extensive experience in the risk & regulation agenda
- Accuracy/completeness of remediation
- Product governance, remediation, IRRBB, core banking systems, EFS, AML/CTF and more
- CPS230 - ready as a third party service provider
Core Strengths
We have extensive expertise working with major banks, regional banks, mutual banks, credit unions, foreign banks and non bank lenders, including APRA licencing for RADIs and ADIs.
- Actuarial expertise and core knowledge of banking requirements
- Capital modelling, ECL modelling, comparison rate calculations
- Deep knowledge of the Information Security/Cyber Risk/CPS234 environment
- Extensive experience in the risk & regulation agenda
- Accuracy/completeness of remediation
- Product governance, remediation, IRRBB, core banking systems, EFS, AML/CTF and more
- CPS230 - ready as a third party service provider
Recent Articles
Recent Articles
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