Banking & Capital Markets

Risk accounting challenges in wholesale banking

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Implementing complex accounting and regulatory standards, such as Basel III, require the risk and finance functions within wholesale banking operations to integrate effectively. A smooth implementation helps ensure effective compliance and overall organizational efficiency.

However, the risk and finance functions typically have different perspectives on the process, leading to conflicts and making it difficult to achieve common goals.

Our panel will explore the following: 

  • How the risk and finance functions can work together
  • How to create an outline for the process that helps groups make progress on compliance

 

Panelists:

Frank De Jonghe

EY CVBA

Frank De Jonghe leads EY’s Quantitative Advisory Services across EMEIA. He is also the country leader for Risk Advisory and Actuarial services in Belgium. He has over 14 years of experience as an advisor focusing on Risk Management in financial institutions, and quantitative modelling in particular. Over the past year, Frank has supported clients with all aspects of their CVA desk implementation, IMM model validation and capital efficiency initiatives.

He is also a professor at the University of Ghent, Belgium, lecturing on financial risk management and derivative pricing since 2004.

Sonja Koerner

Ernst & Young LLP (UK)

Sonja Koerner leads EY’s Market and Counterparty Risk, as well as Derivatives Valuation within EY in the UK. Her experience includes a number of regulatory change and remediation programs, in particular in the areas of Basel 2, 2.5 and 3. She has worked on a number of risk target operating model (TOM) design and implementation initiatives, as well as on the design of future Risk systems blue prints and led numerous risk and pricing model review and validation projects at top tier Investment Banks and Clearing Houses, with outputs shared with regulators to obtain model approval.

Sonja holds Ph.D. in Physics from the University of Technology in Vienna Austria and an MSc in Mathematical Finance from Oxford University.

Maurice McCormick

Ernst & Young LLP (UK)

Maurice McCormick is a Partner in EY's Banking & Capital Markets audit division leading key engagements in both the Investment Banking and Capital Markets sectors.

He has more than 12 years of Financial Services experience with a specific focus on investment banks capital markets and commodity trading. Maurice chairs EY's EMEIA focus group on investment banking/capital markets. This role includes the management of a series of focus groups made up of senior client and EY members that allow EY to formulate and implement consensus views on the significant audit and accounting issues in the investment banking sector

Moderator:

Tara Kengla

Ernst & Young LLP (UK)

Tara Kengla is a Partner leading EY’s Financial Accounting Advisory Services group for financial services in Europe.

She has over 17 years of experience in serving clients in the banking and capital markets industries and has experience leading a range of audit and non-audit engagements for a number of major financial institutions in the UK, the US, the Netherlands, Switzerland, and Canada.