Alan Picone
Partner, Advisory, Asset Management & Alternatives Consulting Leader
KPMG in Luxembourg
Alan joined KPMG Luxembourg in 2018 as a Partner and Head of our Regulatory & Risk Advisory division for Asset Management/Alternatives. With Risk Management as his core subject-matter expertise, Alan has developed throughout his career a comprehensive command of how to best interconnect Risk & Regulatory matters into the strategy top-line, and how to optimize operational effectiveness accordingly. In this context, Alan advises Asset Management businesses along their transformation program in protecting business value and minimize disruption, whilst properly mitigating regulatory risk. Leveraging his previous industry experience as Conducting Officer and Member of the Board of Managers of a 3rd party AIFM, Alan takes a practitioners’ standpoint to support Management Companies and AIFMs in their evaluation and monitoring of regulatory impact as supervisory scrutiny continues to increase. In addition, Alan supports ManCos/AIFMS in establishing effective operating models along with appropriate regulatory risk management protocols. Alan’s areas of expertise, including practical experience in the role, embed all facets of Risk Management along with extensive command of Portfolio Management, Valuation, Delegates Oversight Framework, covering both liquid and alternative strategies.
Areas of expertise
Regulatory transformation and interconnectedness with Strategy/Operations/Risk
- Strategic assessment / Target Operating Model design of ManCos/AIFMs under Regulatory Transformation
- Review of the appropriateness and effectiveness of ManCos/AIFMs operating models along regulatory requirements and strategic objectives
- Operationalization of AIFMs and ManCos, including Target Process Model implementation along Risk-Based Approach
- Regulatory risk management and its integration into the strategy top-line
- Mock-up analyses, application filing, regulatory gap analyses and readiness assessments on all facets of Investment Fund industry regulation
Risk Advisory for Asset Management and Alternatives
- Risk Profiling and Risk Appetite Assessment, Risk Registers
- Review/implementation of Risk Management Frameworks, Policies and Procedures
- Operational Risk Management and Risk Management oversight of outsourced/externally supported activities
- Formalization of Risk Control environment with Key Risk Indicators & Analytics
- Risk Modelling, Model Risk Assessment, Model Validation, Quantitative Finance
- Risk Reporting including proprietary solutions for Alternative Strategies and UCITS funds
Education and qualifications
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PhD in Theoretical and Statistical Physics – Université Henri Poincaré (Nancy, France)
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Preparatory Research Program in Quantum Physics – Ecole Normale Supérieure (Paris, France)
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Engineer with Master Degree in Physics and Mathematics – Ecole Polytechnique (Palaiseau, France)
Other experience
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2013-2018: Duff & Phelps / Duff & Phelps (Luxembourg) Management Company - Managing Director, Conducting Officer (Portfolio Management) and Member of the Board of Directors of Duff & Phelps (Luxembourg) Management Company
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2013-2018 : Conducting Officer / Board Member / Committee member roles for Asset Managers/GPs in capacity of Risk Management, Portfolio Management, and/or Valuation - Conducting Officer / Board Member / Committee member roles for Asset Managers/GPs in capacity of Risk Management, Portfolio Management, and/or Valuation
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2009-2013: Deloitte Luxembourg - Senior Manager / Director in Advisory division leading the development of Financial Risk Management services
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From 2004: Head of Risk Units in various banking institutions