How 4most supported a leading bank in Europe through the ECB’s on-site inspection

Written by Catherine Akrigg

As part of its supervisory role, the European Central bank (ECB) conducts on-site inspections (OSI) to assess the financial health, risk management practices, and regulatory compliance of banks in the Eurozone.

In addition to reputational risk, institutions undergoing these inspections face significant challenges including disruption to business-as-usual operations, extensive data and documentation demand, and the increasing complexity of regulatory compliance.

 How 4most supported a leading bank through the intricacies of this demanding exercise

The bank required support to fulfil an on-site inspection of their mortgage portfolio including all regulatory models, internal governance and structures, and portfolio management. As a long-standing, trusted partner with established credentials across Europe, 4most were brought in at inception to support planning and resource coordination in addition to regulatory advice and gap identification.

Clear timelines, smooth implementation

The 4most team understood from the very start of the project that delivery of all required documentation and data tapes within the agreed timescales was the core objective, whilst being mindful to mitigate the impact on business-as-usual functions.

The 4most approach

4most deployed a team of consultants with a wealth of industry and regulatory experience to lead coordination of all requirements, ensuring governance structures were fully adhered to. Subject-matter-expert support was provided across critical business areas to ensure a cohesive approach to the modelling and data architecture process whilst providing accurate and comprehensive responses to queries raised by the Inspection Team.

Additional backfill resource was provided to guarantee all business-as-usual activities were delivered throughout the inspection, and to allow senior management to dedicate significant time to ensuring regulatory deadlines were met.

A picture-perfect finish

With direction by the 4most team, all required documentation and data tapes were submitted within the agreed timeframe. The data tape creation process was developed in line with the Bank’s internal risk framework and provided data governance capabilities for the Bank beyond the inspection activity.

We are delighted that following the successful delivery to the inspection team, the client has sought further engagement with 4most for on-site inspections of other portfolios.

Interested in how we can help?

Get in touch If you would like to learn more about how 4most can support your organisation navigate the evolving regulatory landscape within the EU – info@4-most.co.uk.