In order to facilitate the on-shore growth of its private banking business in Europe, a large international private bank was looking to open a foreign private bank branch with local banking and custody capabilities.

Create the operating & technology model capable of providing existing products and services to on-shore clients while coping with the local mandatory requirements (tax, regulatory, reporting).

 

• Leverage existing infrastructure or create where required for distant onshore banking and custody.
• Define functional and technical requirements vis-à-vis:
• On-shore client tax accounting, tax reporting, banking and custody,
• Data model for finance and local regulatory interfaces,
• Specific client documentation and statements.
• Evaluate the integration of these needs within the current local technology and operations hub.
• Provide technical project management for implementation, system and process integration.

• Delivered an effective local tax module capable of handling client and regulatory tax requirements.
• Produced new dealing, treasury and on-shore custody models to accommodate local protocols.
• Adapted specific general ledger and financial / regulatory reporting.
• Accommodated specific client documentation and reporting.