Regulators are sharpening their focus on assessing financial transactions and outcomes, and we help you stay ahead of the curve by prepping you for Regulatory Examinations
How we help?
Anti Money Laundering
Across the Bonova Advisory team we have in excess of 100 man years experience of shaping, designing and implementing our Client on boarding (COB), Anti Money Laundering (AML) and Know-Your-Customer (KYC) best practices and framework for institutions of all sizes small to large, domestic and complex global firms. We understand the business and operations because we are from the business.
Bonova Advisory’s AML ecosystem draws on expertise of specialized subject matter experts in unfolding regulations, assessments, assurance and tremendous end-to-end implementation of third party KYC / AML tools such as Actimize, Mantas, SAS, Goldteir, ILOG and Detica. Our in-house industry, regulatory, and law enforcement experience, along with our experience as enforcement action monitors, makes for a powerful advisory practice. And we have a reputation for independence and integrity with clients and regulators.
We Advise on
- AML Health Check and Frame Work Assessment
- AML and Client Onboarding Future Roadmap
- KYC Utilities and Operating models
- Model Governance
- Model Documentation Procedure and Analysis
- Anti-Money Laundering (AML) Alerting Sanctions for Office of Foregin Assets Control (OFAC) Screeing Tools Identification and Implementation
- Anti-Money Laundering (AML) Monitoring Rules/Scenarios, Identification, Calibration, and Analysis
- Sanctions (OFAC) Filters/Fuzzy Logic rules Identifications, Calibration and Analysis
The Dodd-Frank Act (fully known as the Dodd-Frank Wall Street Reform and Consumer Protection Act), is one of the most comprehensive regulations of the financial industry today’s era-and a US Federal Law that puts the regulations driving the Nation’s financial institutions in the government’s big hands. The Legislation, enacted in 2010, represents one of the most aggressive regulatory measures taken in the Finance Industry since the ‘Great Depression’, as a preventative enforcement to avoid another substantial financial crisis. As a result, Banks Financial firms and their executives now face the need for an appropriate level of their process, technology, and system alignment and automation that eases legal operational risks around their workflows. Under Dodd Frank Act, all bank holding companies with assets more than 50 billion dollar, in other words, banks classified as SIFIs or too big to fail, need to revamp their processes and optimize workflows for a better risk aggregation and risk reporting structure. Bonova’s advisors are well qualified and intensely experience to assist the financial institutions and banks to address the complex and multifaceted challenges that’s in front of them. And to stay well-informed of changing Dodd- Frank regulatory requirements, industry best practices, and the consumer expectations. Regardless of the degrees of preparedness for the inundation of the regulatory changes that Dodd-Frank has, and will, bring about – Bonova can assist banks in all its Dodd-Frank initiatives.
We Advise on
- Risk-based Capital Requirements
- Liquidity Requirements
- Resolution Plan Requirements
- Designing a Capital Plan
- Single Counterparty Concentration Limits
- CCAR reporting
- FRY 14 C Report
New laws passed in 2008 after the Global Financial Crisis that resulted in Dodd-Frank Act – led to the CCAR program and DFAST (Dodd Frank Annual Stress Testing) reporting instructions. While DFAST Stress Testing is different than CCAR Stress Testing, the former is forward-looking and is executed by Federal Reserve for the organizations that they regulate. They are primarily performed to ensure that these financial firms have enough capital to absorb shocks, and remain viable through the adverse economic times. Bonova specializes in providing comprehensive DFAST (CCAR) Credit Stress-Testing Model Validation to banks and financial firms. Our steep experience in this validation arena, and expertise in the statistical and quantitative space gives us a competitive edge. We adopt in-house, and outsourced statistical methodologies, varius approaches to model architecture, documentation, integration of systems, reporting, processes & procedural controls and governance.
We Advise on
- Credit Risk Rating (scoring) Models
- Bottom-up, and Top-down Credit Loss Models
- Pre-Provision Net Revenue (PPNT) Modeling
- ALLL (Allowance for Loan and Lease Losses)
- Aggregator Model/Reporting
- Governance and Controls
- ICCAP (Internal Capital Adequacy Process)
Basel III & BCBS 239
As a repercussion from the GFC, and with the subsequent & dire need for a fundamental restoration of the financial sector and their approach towards risk management and regulation – Basel 3 developed a BCBS 239 (banking committee for banking supervision) for G-SIBs and D-SIBs for a robust framework around business data and governance. While Basel 3 aims at revolving a more resilient banking sector, the anticipated changes with Basel 3 will indisputably pose capital challenges for banks and financial institutions. it is unequivocally important now to edify the board to ensure capital planning forms a significant part of the strategy. Bonova’s advisors specialize in independent internal assessment and audit, and in designing a roadmap to through compliance of BCBS 239. Our advisors are subject matter experts in the following practices to help banks improve the ability to absorb shocks in the times of financial stress which ultimately reduces the risk of spillover to the overall economy.
We Advise on
- BCBS 239
- Liquidity Standards
- Capital Reporms
- Systematic Risk and Interconnectedness
As a repercussion from the GFC, and with the subsequent & dire need for a fundamental restoration of the financial sector and their approach towards risk management and regulation- Basel 3 developed a BCBS 239 (banking committee for banking supervision) for G-SIBs and D-SIBs for a robust framework around business data and governance. While Basel 3 aims at evolving a more resilient banking sector, the anticipated changes with Basel 3 will indisputably pose capital challenges for banks and financial institutions. it is unequivocally important now to edify the board to ensure capital planning forms a significant part of the strategy. Bonova’s advisors specialize in independent internal assessment and audit, and in designing a roadmap to thorough compliance of BCBS 239. Our advisors are subject matter experts in the following practices to help banks improve the ability to absorb shocks in the times of financial stress which ultimately reduces the risk of spillover to the overall economy.
We Advise on
- CCAR Capital Planning
- Risk Identification & Modeling
- PPNR, RWA, and Balance Sheet Projection
- CCAR Operating Models
- Architectural & Process Decision Guidance
- Vendor Selection & AXIOM SL Implementation Assistance
- Accounting Policies Guidance
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Our Client: Our client was a Wholesale Operations business unit within a large bank. This unit had operationalized Anti Money laundering compliance program for 52 lines of business to comply with. These lines of business were in geographically diverse...read more