Key Practices - Operations and Risk
Banks and other financial institutions are under continuing pressure to minimise their cost base and their costs per trade, whilst simultaneously managing risk and remaining competitive by offering high levels of service to clients. “Operational Excellence” is the goal, and industry best practice provides the benchmark for service cost, quality and risk.
Quantification of operational risk under the Basel II Accord is no longer an emerging discipline. Many banks are now geared up to meet its requirements as the options for calculating regulatory capital adequacy are finalised. MiFID, implemented in November 2007, demands significant changes in operational processes, systems and controls and critically these include changes to how business is conducted, how information is provided to clients and how transactional data is stored. The fundamental requirement that all banks must meet, however, is to establish a framework for the identification, assessment and management of operational risks and to embed that framework within their day-to-day management culture and processes.
BRAXXON brings the expertise of seasoned industry practitioners to bear to assess the current operations, benchmark against best practices, identify improvement targets and develop an ROI based business case for investment. Our method of working ensures full integration with your in-house project team and a regular dialogue with management at every stage regarding project status and issues. Our objective is to transfer skills and experience to your own staff for future projects
BRAXXON's consultants are well versed in the use of the usual qualitative and quantitative consulting tools relating to Diagnostics, Modeling, Benchmarking/Best Practice, Gap Analysis and Cost/Benefit Analysis, and so on. That extra dimension brought by BRAXXON concerns its proprietary methodologies. Specifically developed for the investment community and based on real world experience, they use many of the techniques referenced above, but are tailored to address:
- Operational efficiency assessment and remediation.
- Business Process Re-Engineering.
- Package Evaluation and Selection.
- Systems Implementation.
- Start-up Banking Operations, including Islamic Banking.
- Payments Processing and Liquidity Management
- Basel II Risk Framework
- Operational Risk assessment and remediation.
- Customer Payment Risk assessment and remediation.
In the delivery of solutions, the Practice consultants make full use of these proven and flexible methodologies that are designed to accommodate the needs of any individual institution in any geographic area. [Whilst The City is the focus, BRAXXON has undertaken assignments in over 20 countries].