Erste Financial Services GmbH (EFS)
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1 (EFS) Credit Services Düsseldorf, November 2017
2 Risk & Rating Services Erste Financial Services GmbH Who we are Erste Financial Services We are an independent financial services company with offices in Düsseldorf, London, and New York As a service provider, we assist banks, insurance companies, and asset managers We combine the long-standing expertise of a financial institution with the necessary processes, and the required IT infrastructure Our product offering covers substantial parts of a financial institution s value chain Due to our services modular structure, we are able to offer our clients tailor-made solutions Advisory BPO Services Platform Services Proven Advisory and Factory (BPO & Platform) Services. covering all topics for financial institutions such as yourselves Page 2
3 We offer tailor-made solutions Credit Services Credit Advisory Analysis, optimisation and implementation consulting for your processes in credit & collateral administration as well as industry and product independent KYC checks Credit Factory LOAN PRO : Credit and collateral administration, modular & integrated solutions KYC + : timely KYC information, refreshed & quality assured in our KYC + engine Capital Markets Services Capital Markets Advisory Consultancy services on implementation of new market and regulatory initiatives. Advisory and execution of services for risk reduction and novation programs for OTC Derivative portfolios Capital Markets Factory Complete trade life cycle processing for Capital Markets products. Services also include Collateral Management, regulatory reporting; also provide application support services. Risk & Rating Services Risk & Rating Advisory Regulatory consulting, optimisation of management processes & policies, support on regulatory, procedural, and IT projects Risk & Rating Factory Regulatory compliant modelling & validation, quality assured risk figures, well-grounded analyses & reporting, state-of-the-art risk systems Regulatory Services Reg. Rep. Advisory Consulting on standards novations, implementing & regulatory technical standards (ITS and RTS), and in new product processes Reg. Rep. Factory Quality assured production of regulatory notifications Finance Services Financial Advisory Process analysis & implementation consulting for the optimisation of processes, management of migration & transformation projects Finance Factory Freeing up resources due to quality assured undertaking of tailor made processes, supply of finance platform Page 3
4 Flexible services for individual requirements Our services are linked to our clients needs, available on a modular basis and can be set up in a flexible way Examples of service options: A Full Service Comprehensive transaction processing (advisory & factory) for a portfolio along the whole value chain by way of integrated methods, processes, and IT solutions B Various Services for one Topic e.g. Processing, optimization of and consulting on the implementation of credit and collateral administration C Interdisciplinary Factory Services e.g. Swap Service Provision from a full administration to counterparty performance reporting D Single Services e.g. Outsourcing the development of rating methodology using the rating platform ART including selective rating models Page 4
5 Why Erste Financial Services? Expertise in both, Banking and Servicing Long standing experience in the servicing of credits, securities, and derivatives Transformational Success We were ourselves part of a fundamental transformation and have successfully completed it No Conflicts of Interest Objective and independent Flexible Reporting Comprehensive and tailor-made reporting (incl. on demand reports for various topics) State-of-the-Art Models and Technologies Scalable, client compatible platforms Certified Servicer Supervised by BaFin and the FCA, certified internal control system (ICS) Page 5
6 KYC + - Compliance-Services at a glance
7 KYC at a glance: definition, key challenges and problemsolving approaches Definition KYC Know Your Customer is the mandatory review of new and existing customers and counterparties Review is based on regulatory requirements to combat money laundering and financing terrorism Specialisation New requirements (4 th EU-AML-Directive, FATCA etc.) Increasing complexity Regulation KYC is a high profile topic Compliance management tends to be reactive High risk of penalties and reputational damage Challenges Risk & Compliance Return & Efficiency KYC expenditures increase steadily Currently low level of automation Proactivity Scaling & Automation Page 7
8 KYC + - Know Your Customer The past shows Fulfilment of KYC compliance is mandatory to avoid significant financial and reputational risks! International Requirements Simplified CDD 1 applies and needs to be documented when owner of the controlling interest is a company listed on a stock exchange subject to disclosure requirements (e.g. by law enforcement measures) having its place of business in the EU/EEA under EU Directive 2005/60/EC Potential Damages ABN Amro admits sanctions breach ($0.5bn) (Financial Times: May 10, 2010) UK banks hit by record $2.6bn US fines (Financial Times: December 11, 2012) BNP Paribas admits guilt and agrees to pay $8.9bn fine to US (New York Times: June 30, 2014) Solution KYC + is the solution to comply with regulatory requirements across all types of institutions, assets and funds. KYC + = Simplified CDD 1 may apply 2 = High risk countries 3 1: CDD = Customer Due Diligence; 2: 3: Page 8
9 KYC + - Know Your Customer KYC + - We combine our expertise with a high-performance engine Timely and complete KYC-information, + centralized and up-to-date data in a fully automated KYC + -engine, + quality is assured by our KYC-specialists, + available in individual service levels = KYC + - Your individual KYC-Service from a single source - Page 9
10 KYC + - Know Your Customer KYC + - optimizes your business acquisition At present: High (often hidden) costs, long processing times Front Office provides data Back Office processes data Front-/Back Office store data Review of Front- and/or Back Office by Compliance Request With KYC + : Lower costs, transparency, reduced processing times Starting Business Front or Back Office orders KYC- Check KYC + Provides information, processes and centrally stores data Compliance check in KYC + Request Starting Business Page 10
11 KYC + - Know Your Customer Added value in four dimensions Audit-proof results KYC Expert Support Service Constant Review Globally resilient data base Cost efficiency through economies of scale Highly reliable automated system Cost transparency Update of full customer base with new requirements (e.g. 4. EU-AML-Directive) SECURE EFFICIENT Optimised resource allocation End-to-End Processing BaFin-regulated service provider KYC + Web-based front-end solution USER- FRIENDLY FLEXIBLE Modular service offering 24/7 global access Variable pricing model Mass data processing ability Flexible purchase quantity All digital data output in one file Individual compliance risk scoring Integrated customer interface (e.g. SAP BP) Multi-client capability Page 11
12 KYC + - Know Your Customer KYC + service levels are fully tailored to your individual needs and can be used as solutions in daily operations or temporary design solution Service levels KYC + NAME CHECK KYC CHECK COMPLIANCE RISK CLASSIFICATION Basis 3: RISK SCORE Basic Services (non-recurring or rolling review) Basis 1: NAME CHECK Basis 2: KYC CHECK Basis 1: NAME CHECK Basis 2: KYC CHECK Basis 1: NAME CHECK Scope of Service Individual or bulk queries Identification PEP / sanction list scanning / criminal proceedings Name check in a business intelligence database including proof of result Digital output of results including documentation Individual or bulk queries Comprehensive KYC Check Identification of all persons / entities involved including sources Name check for each identified person / entity Digital output of archivable KYC customer file including management summary Individual or bulk queries Calculation of compliance risk score (e.g. depending on the rolling review cycle) Individually-adaptable risk model Additional delivery of individual risk scores Optional Module Constant Review Constant review of individual blacklists Constant review and updating of the KYC customer file Constant review and if applicable recalculation of risk score Page 12
13 EFS KYC + Engine EFS KYC-web portal Erste Financial Services GmbH KYC + - Know Your Customer Functionality: Highly automated KYC + engine allows userfriendly access and consolidates data from various providers Service levels NAME CHECK KYC CHECK COMPLIANCE RISK CLASSIFICATION Individual query Info natural person Information Identity Check Client (Compliance & AML) Bulk query Results in web portal (optionally via interface) Risk analysis Support in finding matches within results + Info legal entity Risk Exact analysis address Support Mgmt. / in CEO finding / BoD matches Economic within results beneficiary Information Information Commercial Register Supplier B2B- Data Customer file(s) in web portal (optionally via interface) Risk Score Customisable calculation parameters Page 13
14 KYC + - Know Your Customer Range of services: KYC + meets highest quality standards and provides maximum compliance at reasonable costs Security Completely fulfils regulatory requirements (with available Expert Support Service) leading to audit-proof results During periodic reviews, solution to "grey zone problem via proactive monitoring of customer base ("Constant Review"). Efficiency Standardisation, automation and scaling lead to cost efficiency: KYC + reduces your internal costs by up to 80% 1 Increased cost transparency is the basis for optimised resource allocation Own resources ca be focused on core competences KYC + User-Friendliness Web-based frontend with 24/7 availability ensures easy access Mass data capability and digital output of the consolidated customer file ensure optimal administration Flexibility KYC + offers maximum flexibility and individualisation - your demands are the focus of our attention Service quality, flexible quantity and price are adapted to your needs Page 14
15 KYC + - Know Your Customer Your advantages in the daily business with KYC + Automation The high level of automation with an integrated workflow enables you already at customer acquisition to check your customer in an online query in KYC + without prior paper preparation Due Diligence Customer checks against recognized sanction lists and PEP databases allow you to comply with your due diligence even for more complex customers Efficiency You will find a customer file, including information on the commercial register, comparison with sanction lists already the next morning and, if desired, with your individual risk score Evidence The client file provides you with the necessary evidence of the key parties involved, e.g. PEP, interdependence and beneficial owners (on request, with your individual thresholds) Quality Assurance Timeliness The technical and professional quality assured systems of the EFS lead to an optimized data base and an ongoing revaluation of your customer master data The timeliness of your customer data is ensured with every query and within the Constant Review. This includes updating your individual risk score Performance Acceleration of processes and focus on your resources will increase the performance of your organization Know How Our colleagues support you with your KYC checks and in your preparations (e.g. in the case of analysis of money laundering hazard or additional information). This activates additional know-how for your organization Page 15
16 Your Contacts Dr. Felix Buchkremer Managing Director, Head of Risk Services & Credit Services Florian Diederichs Executive Professional KYC & Data Maintenance Bild einfügen Erste Financial Services GmbH Schiessstraße Düsseldorf Bild einfügen Erste Financial Services GmbH Schiessstraße Düsseldorf Tel.: + 49 / (0) Mobil: + 49 / (0) felix.buchkremer@1fins.com Tel.: + 49 / (0) Mobil: + 49 / (0) florian.diederichs@1fins.com Page 16
17 Disclaimer This presentation and the information contained therein, as well as any additional documents and explanations (together the presentation ), are for information purposes only. The presentation is not intended to address the circumstances of any particular individual or entity and it is not intended to be suitable for any particular purpose and Erste Financial Services GmbH is not soliciting any action based upon it. The information and explanations contained herein are especially not intended to constitute and do not constitute any investment advice or recommendation. Opinions expressed herein are Erste Financial Services GmbH s opinions only as of today. Erste Financial Services GmbH is not obliged to update or periodically review the presentation. Portigon Financial Services GmbH accepts no liability with respect to, or arising directly or indirectly out of, the presentation. The distribution of this presentation in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes are required by Erste Financial Services GmbH to inform themselves about, and to observe, any such restrictions. By receiving this presentation, the recipient acknowledges, and agrees to abide by, the aforementioned. Page 17
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