Addressing tomorrow’s challenges today

In today’s highly regulated environment, banks and securities firms are facing increasingly complex challenges. Every day brings new demands to manage risk, achieve operational excellence and satisfy the divergent interests of stakeholders.

To help you meet those challenges, you need experienced financial professionals who understand your operations, regulations and growth drivers. Our Global Banking & Capital Markets Center provides just that.

It connects a worldwide team of practitioners with deep experience in assurance, tax, transaction and advisory services. This team shares information on emerging trends and requirements, providing you with our point of view on the issues shaping your industry. So you get the support you need — in times of stability or volatility — to help you grow your business.

In short, we help you address the issues of today and anticipate those of tomorrow.

Slideshow feature: straight talk from global bank CFOs on finance operating models

CFOs are coming under increasing pressure from their boards to fill a more strategic role, and the credit crisis has heightened that sense of urgency. Meeting this obligation is no easy task. Hear what leading bank CFOs have to say about the challenges in building a better finance operating model and how we help them answer the fundamental question: “How can we rise to the standard now expected of us?”

Q & A: Is risk investment paying off?

In the wake of the credit crisis, we recently surveyed 28 of the world’s largest banks to learn more about the progress toward “risk convergence.” See what our risk professionals have to say about the key findings, and what’s in store for banks looking to improve risk management.

Credit crunch — two steps to take now

In an attempt to hold down costs, financial firms may forego critical investments in risk management – an omission that could actually put them at greater risk when the next market upheaval hits. We identify two critical risk management strategies where investing resources and staff are most likely to pay off – now and in the future.

Risk convergence

"Risk management fatigue" is a new malady caused by multiple, inefficient, risk management processes. "Risk convergence" is a term we use to mean the co-ordination of various risk and control processes to provide a more comprehensive and timely overview of an organization's risk position. But what are the issues and challenges involved in streamlining process? Read more about the future state of governance.

Video feature:
anti-money laundering: global banking on the frontlines

Anti-money laundering programs continue to be on the frontline of defense against illegal activities. In this interview with Bloomberg TV, Ernst & Young’s Steve Beattie reminds financial services firms to remain vigilant and explains the particular risk management issues for the global banking community.

IFRS in the spotlight: preparing for the move

Are you ready for IFRS? That question was the main theme last May when regulators, financial services companies, business leaders, accountants and others converged in New York for Ernst & Young’s daylong IFRS preparedness conference. Read on for the highlights.

Credit crunch heightens financial executive focus on risk convergence

The credit crisis has driven many financial services executives to intensify their focus on risk convergence and risk management. Our latest survey shows how firms are adapting, while we offer perspectives on the work that still needs to be done.

CFOs on the new pressures financial organizations face

Once focused on accounting and control, finance organizations now influence decisions ranging from strategy and acquisitions to office space and performance metrics. This report, from CFO Research Services in collaboration with Ernst & Young, reveals that the competitive, regulatory and market pressures (pdf, 366kb) under which banks operate have created three disconnects that banking executives must bridge in order to deliver superior performance.

Video feature:
challenges, changes for the finance operating model

CFOs at global banks are under increasing pressure to provide greater and more detailed insight into their company’s business performance. In an interview with CFO research services, Ernst & Young’s Greg Derderian discusses the challenges CFOs face, and how large global banks are evolving their finance operating model to execute their global strategies effectively, manage risk appropriately, comply with regulations and deliver superior business performance.

You need to know:
don’t delay when converting from US GAAP to IFRS

For banks, making the switch from US GAAP to IFRS will be largely painless, but not without its challenges. Two rules in particular — relating to valuation of derivatives and asset securitization — may pose a formidable challenge to banks. We outline key changes from GAAP to IFRS and share news that may spur your conversion timetable.

Information technology risk management’s critical role

A survey asks nearly 150 risk management and IT executives at global financial institutions for their feedback on the framework, processes, and drivers of information technology risk management (pdf, 3.4mb) and the role it plays in an organization’s overall risk management structure. The results and analysis focus on four key areas: convergence, common understanding of risks and controls, IT risk management investments and risk reporting.

Strategic business risk: banking and capital markets

What strategic challenges are likely to affect banking and capital markets companies in 2008? We analyze 10 of the most critical risks, including credit exposure, global financial shock and corporate governance and internal controls failure. We also look at steps banks can take now to strengthen their risk management.