TOM Design for Control Framework
Design and implementation of a target operating model (TOM), including current model review, regulatory and market best-practice gap analysis, implementation roadmap development, implementation support and readiness assessment.
License extension and oversight review
Assistance in preparing a license extension filing with the local regulator. Definition of oversight processes regarding delegated activities from the private banking entity to its own management company.
Asset management branches oversight
Assistance on a project that converted the French and Belgian subsidiaries into French and Belgian branches of the Luxembourg entity. Analysis of the potential regulatory and tax implications arising from a specific strategic decision.
Implementation of regulatory hub and AIFMD operation on the ground
Brexit-AIFMD implementation project:
Analyzed as-is structure and implemented final to-be AIFMD model. Provision of strategic support and actual gap assessment. Project managed and drafted final implementation plan, drafted target process models.
Risk expert - staff secondment
Support with the reorganization of the asset manager through long-term staff secondment. Provision of a range of on-going services including day-to-day fund management, regulatory compliance exercises and the review and enhancement of governance frameworks with the client’s guidance.
CSSF Circular 18/698 gap analysis
Gap analysis against CSSF Circular 18/698 requirements. Analysis of as-is, gap remediation recommendations, defined implementation roadmap and assistance to reinforce risk function, valuation function and oversight operating model.
Provision of a regulatory watch service
On-going assistance with the evolving regulatory framework for a management company with UCITS and AIFM licenses. Defined topics relevant to their business and arranged workshops to discuss the regulations and their impact.
Peer group reviews and benchmarking
Regulatory and compliance readiness assessment
Assistance with a regulatory and compliance readiness assessment in order to prepare for a CSSF inspection covering governance arrangements, oversight of delegated functions and AML/CTF. Review of as-is against regulatory standards and remediation of significant gaps.
TOM definition and application filing
Assistance in defining the appropriate TOM design of policies, procedures and operating protocols. Subsequent operationalization. Project management of application filing including board awareness on transformational matters and interplay with supervisory bodies.
ESG readiness assessment and preparedness review
Gap analysis against regulatory prescriptions, review of operating model readiness and change management.
Review of risk management arrangements and credit analysis protocols and procedures.
Support to internal audit
Provision of internal audit support and services to several AIFMs in real estate, infrastructure, private equity and UCITS management companies. KPMG gained significant expertise in understanding the CSSF’s expectations and best practices for governance, compliance and operations.