Belgium

Regulatory & Accounting changes 

Authorities are determined to take the actions ensuring that banking crisis scenarios will not appear anymore. This leads to an increased regulatory framework such as Basel III for banks and Solvency II for insurers together with additional measures aimed to increase consumer protection.

 

The evolving regulatory reform agenda is driving a fundamental overhaul in the way banks and insurers currently do business. In particular, the combination of tough capital and liquidity standards, along with international recovery and resolution planning requirements, are forcing many financial institutions to restructure business and operating models.

 

Finally, the accounting standards are also evolving and new expected evolutions such as IFRS for insurance contracts - Phase 2 need also to be anticipated by the sector.

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How KPMG can help

    Basel III including:

    • operational risk
    • market risk
    • liquidity, etc.

     

    Solvency II including:

    • Economic Capital Management
    • Market Risk
    • Asset Liability Management
    • Solvency II Sourcing Services


    Business Effectiveness including:

    • Target Operating Model
    • Cost optimization
    • Quality close
    • Business process outsourcing
    • Process re-design and improvement
    • Financial Risk Management  including:
    • Portfolio valuation services
    • Review of strategic asset allocation
    • Corporate Restructuring
    • Governance and Compliance  including:
    • Diagnostic analysis
    • Process re-design and improvement
    • Evaluation and testing of internal controls
    • Compliance with laws and regulations
    • Assistance to internal audit

     

    Risk and Actuarial
     
    Data analytics

     

    M&A  including:

    • Acquisitions
    • Divestments
    • Due diligence
    • Valuations
    • People and Change
    • IT Advisory
    • Tax compliance and transfer pricing

     

    GAAP (IFRS, US, BE, etc.) Services

     

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Olivier Macq

Olivier Macq

Partner Banking

+32 (0)27083686

Karel Tanghe

Karel Tanghe

Partner Insurance

+32 (0)27084225

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