Adoption of IFRS Standards, Finance and Accounting Divisions

Our client, a Canadian bank, used 4 resources of Business Project over a ten-month period for transversal support on the adoption of the new IFRS 9 standard. The project was successful due to the BP resources’ knowledge on the risk and finance functions, and the importance of collaboration between them for adoption of IFRS 9.

The BP resources were asked to:

•Produce a project plan that covered all activities related to Risk, Finance and IT departments, and manage delivery until completion

•Create a global documentation for Bank auditing bodies which detailed all positions and simplifications taken by the Bank regarding IFRS 9

•Analyze the accounting standard and benchmark industry best practices to support technical decisions related to ECL calculations and accounting disclosures

•Develop an internal tool to facilitate the calculation of portfolio ECL’s to be used by the reporting team

Extension and reinforcement of project team

Our client, a French Private bank asked to prolong the project team for 6 months in order to “upgrade” the functionalities of the actual Robo Advisor. This Robo advisor was designed for life insurance contract to push custom advices to their clients.

The BP resources were asked to :

•Manage the team

•CDefine users stories

•Define clients stories

•Respect Mif regulation

In this extension we are asked to :

•Simplify the user experience

•Rethink the subscription process

•Extend the rob advisor to other life insurance contracts

Reinforcement of actuaries’ team

Our client, a French insurer, asked the support of two resources of Business Project over a 4-month period for the preparation of Solvency 2 reporting. The project was successful due to the BP resources’ general actuarial knowledge and their ability to quickly integrate into a production team.

The BP resources were asked to:

•Produce Solvency 2 reporting

•Calculate solvency ratio and ensure 2nd-level controls

•PWork on the improvement of data model