Specific expertise for Financial Institutions

TriFinance Financial Institutions supports its clients in the set-up of their (post-)crisis way of working. We offer pragmatic advisory and Transition & Support solutions allowing our clients to ensure their business continuity in this challenging period.

Critical business activities under pressure (a.o. credits/claims)

The Banking & Insurance industries, represented by Febelfin & Assuralia, will actively support households and companies impacted by the COVID-19 crisis by allowing suspension of loans payments and insurance premiums payments.

TriFinance can assist Financial institutions with the multiples challenges ahead to set it all up and rolling it out:

Crisis Management:

  • Support the definition of the new processes (e.g.: client eligibility for extra credit line, freeze/defer payments, …)
  • (Remotely) take over operational processes on a temporary basis to absorb workload peaks in retail & corp credits, securities handling,…

Post-crisis Management:

  • Re-design and reinforce existing retail and/or corporate credits processes to increase the absorption of new credit demands
  • Estimate impact of all measures on the balance sheet & implement reporting requirements considering the guarantees given by the Belgian authorities

BCM/BCP, Recovery & Resolution impact analysis

The current context pushed all Financial Institutions to activate their BCP in order to ensure continuity of their critical business activities, systems & functions. The COVID-19 crisis, with most people working remotely, brought also into light the necessity of self-steering teams, requiring mental agility and the ability to work in disrupted modus. This new normal should be implemented and added to the BCP as a new chapter “critical way of working”.

At BCM/BCP level, TriFinance can assist you in updating/re-designing/ testing BCP considering the particular context of the pandemic crisis, BCP roll-out through the organization, crisis management & enabling business agility.

At Recovery & Resolution level, TriFinance can assist in the preparation & update of the recovery/resolution plans scenarios & reporting of measures taken to Management and regulators (NBB, FSMA, SRB).

The COVID-19 crisis, with most people working remotely, brought also into light the necessity of self-steering teams, requiring mental agility and the ability to work in disrupted modus.

Fraud detection, Anti-Money Laundering (AML) and Know Your Customer (KYC) processes

Regulatory compliance has already been a hot topic for Financial Institutions under constant pressure from national supervisors. Continuity in these processes are critical and the current context will certainly show the tough road ahead to streamline AML/KYC processes able to absorb shocks and go through crisis events. The increasing digitization of work and services puts fraud, cyber security risk, trust and reputation risk in the spotlight which also need to be deeply addressed.

With proven track records and expertise in these domains, TriFinance can assist you in backlog reduction initiatives, alert management and due diligence processes as well as end-to-end process redesign and optimization.

(Solvency) Capital Requirements (SCR/CRD) Impacts

Although parallels can be drawn with the 2008/2011 financial crisis, Financial Institutions are now better capitalized and less dependent on wholesale funding for their liquidity management.

Even if Supervisors have a much better understanding of the business models and the vulnerabilities of the Institutions under their supervision, they will ask specific measures to ensure banks and insurance companies are sufficiently capitalized and have sufficient buffers to navigate through the COVID-19 crisis and beyond.

TriFinance can assist you in activities such as updating prudential reporting processes, supporting reporting teams to absorb the peak sparked by the crisis and reinforcing processes to ensure having sufficient capital linked to credit risk, market risk, operational risk and liquidity risk.

Investment and trading portfolio analysis

Financial markets are navigating in uncharted waters with the COVID-19 crisis creating huge volatility and impact on debt & equity securities and dramatic decrease of valuations of funds under management.

TriFinance can assist FI’s to closely monitor and assess the related impacts on their own funds requirements and capital management, expected profitability of the investment and trading portfolio using new parameters in the valuation models and perform analysis in the fair value processes including the impairment (considering IFRS9 requirements)