Assurance for Delivery

Autorenname: Aya Abou Shakra

Jeroen Wiggers as FiSer Consultings Banking Practice Lead, Welcome to the Team

Jeroen is a banking professional with more than ten years of experience in the consultancy sector at Capgemini Consulting and EY Advisory, where he worked on large scale regulatory and transformation projects.In addition, he has worked for five years as a senior supervisor within the ECB’s Single Supervisory Mechanism (SSM). As such, he worked in two of the ECB’s Joint Supervisory Teams (JSTs) and carried out ongoing supervision of two significant European banks. He performed the yearly Supervisory Review and Evaluation Process (SREP and has experience with coordinating international supervisory teams as a team-lead and coordinating onsite deep dives and inspections at banks. Topics of expertise are banking business models, banking supervision (including SREP), risk management, legal and complaince risks, climate change risks, recovery and resolution planning, outsourcing arrangements, and digitalization. In his free time, Jeroen likes to go running and cycling and collects vinyl.

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ISO20022 – Are You Ready?

At FiSer, we always bring topics for discussion, and today we talk about ISO 20022. The ISO 20022 is a new global payment standard of the future, and it’s about migration from old fashioned MT format to the new MX format. This standard will bring order to a current disjointed payments landscape and eventually enables interoperability across the global payment industry, including SWIFT and major payment market infrastructures such as T2, EBA, and CHAPS. High-level ISO 20022 implementation roadmap: – Migration to new MX format: March 2023 till November 2025 – Coexisting period (MT/MX)both formats will be accepted and supported on the SWIFT network until 2025, when ISO 20022 will become a globally recognized standard. The first key date is 20 March 2023 (as per revised ECB and SWIFT timelines), and it’s quickly approaching. So, are you ready to go live? Yes, and probably not at the same time. The migration approach is different among banks. Some (very few) banks will migrate immediately, while others will wait. It is not a “one size fits all” situation. Such change of substantial magnitude is a painful and expensive exercise impacting customers, payment and reporting product offering, IT/non-IT, operations, risk, and compliance. There are differences in objectives across banks; can you afford bare minimum compliance or use the momentum to unlock new business opportunities? It is a critical time to shape the future of your payment business and a difficult choice to make. Here is how FiSer Consulting can help you to drive this regulatory change and make the most out of it: – Implement by setting up a foundation of your future payment platform: e.g., centralize payment infrastructure and decommission obsolete elements of it – Maximize value from new MX payment data: generate richer and better-structured data for data consumers – Ensure operational readiness – staff training, work instructions update, risk assessment, and mitigation – Accelerate digital – transform your payment platform to make it scalable and cloud-native

ISO20022 – Are You Ready? Weiterlesen »

Het Vergeten Kind Donation

Giving is not just about making a donation, it is about making a difference. Today, we serve a special cause, the forgotten children in the Netherlands, in the hopes that these children will one day feel heard and seen, live in a safe and stable place, and develop positively to find their own place in society. Would you like to donate yourself? Then, here we share with you the link to process your donation https://lnkd.in/gUfq5hi

Het Vergeten Kind Donation Weiterlesen »

Korean Cooking Class

his has been outstanding, challenging yet the most fun activity that made everyone cook regardless of their failure records in the kitchen. Usually, everyone says cooking is a skill, but it is not! After this Korean Cooking Class that FiSer’s team joined, we noticed that cooking is a science – understanding how multiple things react to each other on the plate. It is an art – understanding how food interacts with the senses not just through taste but also visually. It is a business – understanding the economics of putting up a plate that makes money. It is a way of life – understanding what it takes to create and develop dishes that hit the soul. It’s always an idea to bring our daily life activities into what we do in business, and only then you can understand that business and cooking are the same except for the recipe.

Korean Cooking Class Weiterlesen »

Efficiency Improvements in the 30th Anniversary Year of the EU Single Market

With the start of a new year, the European Commission prepares for the next phase of the European Single Market, which has its 30th anniversary this year, with further efficiency improvements within the Capital & Securities Markets. In December the European Commission (“the Commission”) published a Capital Markets Union Clearing Package, which includes, among other measures, a proposal for a review of the European Market Infrastructure Regulation (“EMIR review proposal”) also called EMIR 3. (https://lnkd.in/ekmP6pfV). Also in December, the EU member states settled their negotiating position on a proposed update of the central securities depositories regulation (CSDR). The planned review will make EU securities settlement more efficient by simplifying requirements and clarifying authorisation processes among other things. (https://lnkd.in/e7JjjEZx) The proposed reviews and updates of these regulations will also impact the position of depositories and clearing institutions between the EU and the UK especially with the encouragement for the transfer of more Euro clearing from the UK to EU CCPs.

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Ice Sculpting Event

It was great to bring our permanents, working associates, and partners into our Ice Sculpting Event, which was all about collaboration, brainstorming, crafting, competing, and, above all, having fun! A boat doesn’t go forward if each one is rowing their own way, and that’s why we believe that such a team bonding activity is a necessity and not an option for our culture because this is what makes us stronger and drives us for more achievements. Glad to see all these happy faces and for the people that couldn’t join us, see you soon!

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EBA Publishes Final IRRBB Standards and Guidelines

With the publication of the final Interest Rate Risk in the Banking Book (IRRBB) standards https://lnkd.in/eMHGMZkT the embedding of the Basel standards into EU Law has been completed. The initial Basel (BCBS) Standards on IRBBB were published in April 2016 and have been developing over the years. Given the recent macro-economic climate, with increasing interest rates and inflation, the European Central Bank has also indicated that addressing sensitivities in interest rates and credit spreads is a supervisory top priority for the coming years. The implementation and embedding of the new regulation in the banking sector often require change management across multiple (agile) departments within the financial institution. FiSer Consulting specialises in firm-wide strategic implementation and change management to, amongst others, assure the timely implementation of the new regulation.

EBA Publishes Final IRRBB Standards and Guidelines Weiterlesen »

FiSer’s Autumn Barbeque Event

You can’t cut your way to success; people are what matters most! At FiSer, we succeed in business as we value our people and make loyalty more convenient; since the only lasting competitive advantage is the people that our company has. It really is that simple. Therefore, we prioritize our people’s well-being, fun, and social life and we enjoy gatherings that bring the whole team together outside of the office or working hours. And what is better than an Autumn Barbeque hosted by our dearest consultant Martijn and his lovely family in a mesmerizing greenery and relaxing atmosphere? To more memories and food prepared by recipes of care, trust, respect, and encouragement!

FiSer’s Autumn Barbeque Event Weiterlesen »

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