Consulting services in financial sector regulation

 

PwC’s experts in financial sector regulation provide consulting support to companies operating in Russia. They help and assist financial sector companies in efficiently managing their business operations while successfully complying with regulatory requirements during a time of unprecedented change in the financial sector.

 

 

What we offer

Accounting and reporting

Consulting on accounting and reporting for financial institutions

Accounting at financial institutions

  • Conducting diagnostics of internal accounting and reporting policies and procedures for compliance with Bank of Russia regulations, and making recommendations on how to improve such policies and procedures
  • Making recommendations on developing a business entity’s accounting standards
  • Making recommendations on complex methodological aspects of accounting for credit and non-credit financial institutions

Transitioning to the new chart of accounts and industry-specific accounting standards for non-credit financial institutions

  • Providing methodological assistance and consulting to help non-credit financial entities transition to the new chart of accounts

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Prudential regulation

Consulting on prudential regulation for financial organisations in the following areas:

  • Assessing financial institutions’ financial standing using techniques applied by the Bank of Russia, and their capital amounts and adequacy ratios (net assets, equity)
  • Analysing the potential impact of changes in a bank’s credit portfolio on the calculation methodology and size of provisions for potential loan losses, in compliance with Bank of Russia requirements
  • Applying laws on banking groups and banking holding companies and on submitting banking group and banking holding company reports to the Bank of Russia
  • Drafting and/or reviewing financial entities’ bylaws in accordance with Bank of Russia requirements
  • Analysing the potential impact of certain types of external and internal transactions and operational changes on a financial institution's regulatory position (equity, mandatory ratios, reserves, profit, financial indicators, etc.)
  • Drafting and/or reviewing banks’ and other financial institutions’ business plans using techniques applied by the Bank of Russia
  • Drafting and/or reviewing banks’ and other financial institutions’ business continuity plans and recovery plans using techniques applied by the Bank of Russia
  • Analysing the financial standing of the shareholders of banks and other financial institutions using techniques applied by the Bank of Russia
  • Analysing the application of Bank of Russia regulations to internal procedures for assessing capital adequacy (ICAAP)
  • Assessing the remuneration system in credit organisations for the purposes of Bank of Russia Instruction 154-I
  • Analysing a bank’s approach to the risk-based calculation of assets to improve the efficiency of such approaches

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Operational support

Consulting on the regulatory aspects of organising, maintaining and expanding the operations of financial institutions in the following areas:

  • Corporate governance in financial institutions, including requirements for corporate governance bodies, departments and individual officers, employees’ expertise and track records, employee compensation plans, and combining and/or outsourcing certain functions
  • Amending financial institutions’ constituent documents and bylaws, including assisting with registering them with the relevant authorities
  • Banking and trade secrets, and the protection and storage of personal data
  • Compliance with laws on countering money laundering and terrorism financing
  • Increasing financial institutions’ net assets (capital), including identifying the optimal methods and assistance with obtaining approval from the Bank of Russia (subordinated loans, increasing authorised capital, contributions in kind, etc.)
  • Incorporation of financial institutions, including developing or assessing ownership structures, requirements for founders’ financial position, and preparing full sets of documents for registration and licensing of legal entities
  • Obtaining new licenses for existing financial institutions, including preparing full sets of documents for applying for a banking license to accept cash deposits from individuals
  • Acquiring and divesting shares in financial institutions, exercising control over financial institutions or their shareholders
  • Restructuring (merger, conversion, split-off, spin-off) and liquidation of financial institutions

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Contact us

Ekaterina Nekrasova
Partner
Tel: +7 (495) 232-5421
Email

Tatyana Pikhnovskaya
Senior Manager
Tel: +7 (495) 287-1173
Email

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