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Basel - CRD risk management

Challenges

In June 2004, the Basel Committee on Banking Supervision issued its much publicized revised framework, “International Convergence of Capital Measurement and Capital Standards”, which supersedes the original 1988 Basel Capital Accord (Basel I). The revised Basel II framework represents a significant improvement from the Basel I Accord, which was widely perceived to lack risk sensitivity. Two years later, Basel II was enacted within European regulation via two directives (often referred to as “Capital Requirement Directive” or “CRD”).

The adoption of the European Directives within Luxembourg regulation took place shortly after, through three circulars issued by the CSSF. With Basel II/CRD going “live” in January 2008, financial institutions must address the multi-faceted challenge of implementing a complex risk management framework now.

Deloitte services offering

Our comprehensive and well proven Basel II / CRD approach improves risk management practice performance and efficiency while setting up or refining our clients’ risk management framework to fully comply with the applicable regulatory requirements. We work closely and collaboratively with our clients, providing the right support commensurate to their needs.

Our Luxembourg based risk management professionals are recognised experts in the market place and within Deloitte global network. They will provide you with the knowledge, technology and outstanding experience they have gained on numerous Basel II / CRD projects they have performed for leading financial institutions here in Luxembourg but also gained while bringing their expertise to Deloitte global clients in other European countries and even beyond the European borders.

Deloitte is the only adviser able to provide the vast array of services required to address such a multi-disciplinary challenge. The wealth of experience that our Luxembourg risk professionals have combined with our market leading network of risk professionals and our proprietary tools, enable our clients to efficiently implement this new framework.

Depending on our client’s risk management practice maturity level, we provide customized services designed to build a tailored framework or to review and enhance the current framework.

Our services are focused on the building blocks of a risk management framework:

  • Detailed gap analysis
  • Framework development / expert review or internal audit support
  • Framework roll-out (implementation)
  • IT tools selection
  • Pillar II / ICAAP readiness assistance

Contacts

  • Laurent Berliner
    Partner - EMEA Financial Services Industry Enterprise Risk Services Leader
  • Xavier Zaegel
    Partner - Capital Markets/Financial Risk Leader
  • Martin Flaunet
    Partner - Banking & Securities Leader

Related links

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    List of the forthcoming events organised by the Luxembourg office

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