Financial Crime World

Here is the article in markdown format:

Hungarian Financial Institutions Face Growing Risk Management Challenges

Budapest, Hungary - As the global economy continues to evolve at a rapid pace, Hungarian financial institutions are under increasing pressure to manage their financial risks effectively.

The Need for Effective Risk Management

“Financial risk has become a major concern for all types of enterprises, not just those in the financial sector,” said [Name], Head of Financial Risk Management at KPMG Hungary. “Our team of experts is committed to helping our clients identify and mitigate their potential risks, ensuring they are well-positioned for success in the years ahead.”

KPMG’s Financial Risk Management Advisory Services

KPMG’s Financial Risk Management Advisory services cover a wide range of areas, including:

  • Risk Assessment: Identifying and assessing financial risks
  • Measurement and Reporting: Quantifying and reporting on financial risk exposure
  • Credit and Counter-Party Risk Management: Mitigating credit and counter-party risk
  • Regulatory Compliance: Ensuring compliance with regulatory requirements
  • Organizational Development: Enhancing the organization’s ability to manage risk

Implementing Smart Digital Finance (SDF)

In addition to providing traditional risk management advisory services, KPMG’s Financial Risk Management Advisory team in Hungary is also helping clients implement the concept of “smart digital finance” (SDF). This involves using modern tools for measuring and reporting significant risks; developing credit and counter-party risk management methods; and implementing solutions based on robotic process automation (RPA) and artificial intelligence.

Expertise and Experience

“Our team has extensive knowledge of the Hungarian market and is committed to delivering tailored solutions that meet our clients’ unique needs,” said [Name], Partner-in-Charge at KPMG Hungary. “We believe that by working together, we can help our clients achieve their financial goals while managing risk effectively.”

Team Overview

KPMG’s Financial Risk Management Advisory team in Hungary consists of 25 experienced professionals who have a deep understanding of the local market and regulatory environment. The team is well-equipped to handle a wide range of advisory services, including:

  • MiFID II / MiFIR / EMIR/PRIIPs advisory: Ensuring compliance with EU financial regulations
  • Basel/CRR-CRD/ICAAP-SREP advisory: Mitigating Basel III and CRD IV requirements
  • Risk model development and validation: Building and validating risk models
  • Remuneration policy consulting: Developing fair and effective remuneration policies
  • Supervisory examination support: Supporting regulatory examinations and inspections
  • Regulatory reporting advisory: Ensuring accurate and timely regulatory reporting
  • Internal audit and compliance function support: Enhancing internal audit and compliance functions

Specialized Services

In addition to these services, the team is also able to provide guidance on more specialized topics, such as:

  • Solvency II: Mitigating Solvency II requirements for insurance companies
  • Benchmarks Regulation (BMR): Ensuring compliance with BMR requirements
  • PSD2: Implementing PSD2 requirements for payment services providers
  • Brexit Risk Assessment: Assessing and mitigating Brexit-related risks

For financial institutions looking to improve their risk management practices and stay ahead of the curve in an increasingly digital landscape, KPMG’s Financial Risk Management Advisory team in Hungary is a trusted partner.