Several years ago, the status of Support Professionals of the Financial Sector (Support PSF) was created in Luxembourg law in order to guarantee an appropriate level of high- quality organisation in companies offering operational and technical services to financial professionals.
CSSF Circular 12/544 constitutes a new stage in the supervision of Support PSF and optimises this supervision using a risk-based approach.
The new circular seeks to ensure the appropriate management of direct or indirect risks that might impact their professional financial clients.
Support PSFs are therefore faced with a huge challenge and an immediate response is required: they must implement the first requirement of this new circular – the risk analysis report – by 31 March 2013 (for PSF companies with a 31/12 closing date).
Our multidisciplinary approach and expertise both in the field of risk management and in the Support PSF sector allows us to help you cover every aspect of this new regulatory obligation.
Our personalised support allows you to:
Being fully aware of the issues facing Support PSFs, Deloitte has developed a simple, flexible, inexpensive and practical approach to help you deal with the challenges of Circular 12/544 as easily as possible. We will work closely with you to provide a full support service that will cover the organisational (training, internal processes), technical (tools, reports) and strategic (advice on risk hedging strategy) aspects of this Circular:
|Financial Sector Risk Analysis Report (RAR)||Direct and indirect risk management IT tool||Descriptive Report (DR)||Co-sourcing of risk management|
1. Implementation and description of the system for managing financial sector risks (governance, methodology and tools used)
2. Self-assessment of direct or indirect risks and preparation for entering them in the IT tool provided
1. Individual detailed risk sheets: regular assessments
2. Register of direct and indirect financial sector risks
3. Monitoring of measures in place for reducing or transferring risks
1. Drafting of the report in accordance with the outline laid down in the Circular
2. Implementation and description of the system for managing financial sector risks (governance, methodology and tools used)
1. Reassessment of direct or indirect risks and updating in the IT tool provided
2. Financial sector Risk Analysis Report (RAR)
3. Updating of the Descriptive Report
4. Support Hot Line
|1. Practical training in risk management||2. Practical training in the use of the IT tool||3. In-depth and refresher training|
An integrated or 'à la carte' solution to provide you with the best possible support and enable you to control costs, including:
In choosing Deloitte, you will benefit from:
Our team is committed to helping you improve the quality of your organisation and best overcome the challenges and take advantage of the opportunities presented by the CSSF regulation.