Banking

Shaping smarter, faster, more resilient banking through trusted transformation

Banks and capital market firms face incredible pressure to adapt to evolving demands while continuing to deliver on fundamental customer, regulator, and shareholder expectations. Whether retail, commercial or investment banks, traditional business models are being squeezed by declining margins, while regulatory fragmentation adds further complexity and compliance concerns.

From strengthening risk and regulatory controls to improving operational efficiency with managed services, we take a holistic approach to supporting purposeful transformations. Navigating geopolitical and regulatory fragmentation, shifting consumer expectations and pressure from new market entrants, we’re here to help control costs, reimagine efficiencies and build your banking better.

Our deep-sector alliances, trusted technology, and global network of banking professionals across audit, tax, and advisory services offer proven transformation delivery, to help redesign business models, modernise operations and embed AI and digital innovation. We’re here to support your growth through shifting economies and changing expectations.

In the midst of a playing field which is highly-regulated, our qualified and experienced audit, tax and advisory teams assist the majority of the banks and financial institutions on the Island. Being part of a larger network, our local advisors can also leverage expertise off other member firms, including the KPMG ECB Office, which the local office is a proud member of. The KPMG ECB Office specifically focuses on, and specialises in, pressing issues related to the SSM. Furthermore, our banking and financial institutions industry experts offer a wide range of services across all areas, including, but not limited to; the provision of external and internal audit services, project managing regulatory authority applications for banking licenses, mergers and acquisition processes, assistance with ensuring regulatory compliance, actuarial services including financial modelling and capital management, accounting advice, risk management reviews, and tax advisory, compliance and structuring services in the banking and financial services industry.

Banks and Financial Institutions are facing ever increasing additional regulatory burden, heightening requirements for the second line especially the risk and compliance functions. We can help organisations navigate these challenges by assisting these functions, and the institution in general in a multitude of ways.

How we can help

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Assistance in developing a Compliance Obligating Register and performance of a Compliance Risk Assessment.
Assistance in developing a Compliance Programme.
Delivery of compliance-related training on a number of topics which can be tailor-made to the institutions’ needs. Training can be developed and delivered to the Board of Directors, Senior Management and even first line functions depending on the needs of the institution.
Co-sourcing of the Compliance Function for a short-term period until the institution identifies additional resources.
Setting up of the Compliance Function including assistance in drafting compliance-related policies, procedures and / or frameworks.
Reviews or assistance in drafting of compliance-related policies and procedures, including but not limited to Outsourcing Policy, Complaints Handling Policy, and Product Oversight and Governance Arrangements Policy.
Performance of Regulatory Gap Analysis between the institutions’ internal policies and procedures vis-à-vis upcoming or already implemented regulations.
Assistance with regulatory correspondence on compliance matters

Assistance in developing a Risk Management Framework, including but not limited to developing risk policies and procedures, performing Risk Assessments, and developing a Risk Register.
Delivery of risk management related training on a number of topics which can be tailor-made to the institutions’ needs. Training can be developed and delivered to the Board of Directors, Senior Management and even first line functions depending on the needs of the institution.
Co-sourcing of the Risk Function for a short-term period until the institution identifies additional resources.
Setting up of the Risk Function including assistance in drafting compliance-related policies and / or frameworks.
Reviews or assistance in drafting of risk-related policies and procedures. Such assistance can relate to enterprise-wide risk management or specific risk management areas for example; Credit, Market and / or Operational Risk.

Agreed-upon procedures
Limited assurance engagements
Ad hoc regulatory advice and assistance
Individual and collective Board Assessments
Credit Institutions and Financial Institutions Licensing
Assistance in regulatory reporting, or review thereof
Pillar III disclosures framework setup and review
Business model development
ESG related services

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