Cast a wider net, increase trustworthy credentials
KPMG helped a major commercial bank pioneer a scalable talent-resourcing approach to expand its quantitative modeling team.
Cast a wider net, increase trustworthy credentials
KPMG helped a major commercial bank pioneer a scalable talent-resourcing approach to expand its quantitative modeling team.
Client
A major U.S. commercial bank
Sector
Financial services
Project
Quantitative modeling global talent resource approach
For some leading companies, professional credentials are table stakes in their race for the best talent. The Risk organization of a major U.S. bank wanted to expand its quantitative modeling team, and new thinking was required. The exponential increase in the quantity, accessibility, and use of data had brought with it enormous competition for professionals in data-intensive roles. Drawing upon a culture of innovation, the bank’s Risk team sought to expand its talent search globally. They set out exceptionally high standards, meaning “hard skills” were just the recruiting baseline; the Risk organization also wanted “soft skills” that would engender daily coordination between teams, based on that elusive something called collegial “trust.”
KPMG proposed a mix of onshore and offshore talent to support our client’s quantitative modeling team provided by its KPMG Global Services (KGS) subsidiary and KPMG U.S.-based managers. Today, the bank’s Risk group is supported on mission-critical functions such as model validation and development. With the help of KPMG, this bank has pioneered a scalable talent-resourcing approach that positions it for continued competitive advantage.
We helped this client envision and implement a purpose-built approach that leverages continuous investment in leading business processes, agile technology, and specialized talent.
KPMG helped design and implement a talent resourcing approach, delivered though KGS, which combines advanced human capital management with data security protocols.
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Secured all required approvals from the bank’s own U.S. procurement and third-party risk management professionals.
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Established talent acquisition criteria for both “hard skills”—degrees earned, risk modeling competencies demonstrated, and domain knowledge mastered—and “soft skills” such as agility, collaboration style, and cultural fit.
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KPMG has successfully pioneered a talent resourcing approach that supports our client’s current and projected needs, establishing board-endorsed precedents for potential adoption by other areas of the bank. Specific benefits include:
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Offshore clean room operations established to secure bank data, compliant with the bank’s U.S. procurement and third-party risk management requirements.
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As the bank’s Risk organization considered global talent-resourcing options, it aimed to go beyond pure cost considerations. KPMG helped envision and implement a purpose-built approach that leverages continuous investment in leading business processes, agile technology, and specialized talent, so the bank achieved day-one business impact.
KPMG and our client forged an understanding of the sometimes subtle operational dimensions of the bank’s own behavior and culture, and worked to mirror them in the KGS team.
KPMG provides granular experience in every stage of the quantitative modeling development cycle, including validation, ongoing monitoring, and documentation. KPMG offers extensive experience with and relevant domain knowledge in regulatory matters such as AML, Dodd-Frank, CECL, and LIBOR.
The handling of proprietary data and modeling insights were top priorities for the bank’s Risk organization in designing and implementing a global solution. KPMG leveraged the KGS team’s experience in building mature offshore clean rooms for other large U.S. and global banks to meet this client’s security requirements.