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Capco Introduces North American Finance, Risk & Compliance Group to Meet Demand for Access to Improved Financial Information and Predictive Analytics

Contact
Diana Butler Buxton, 212-284-8728, diana.buxton@capco.com
Integration of Financial and Risk Information is Increasingly Critical to Business Decision-Making

Capco, a global provider of consulting and managed services to the financial services industry, today introduced its North American Finance, Risk & Compliance Group. The formalization of this dedicated Group enables Capco to expand its existing service expertise in Europe to North America to globally deliver finance, risk and compliance client services. The Group will provide financial institutions with services to increase accessibility to critical financial information, reporting data, better analytics and to standardize information systems to optimize business decision-making, risk management to meet new regulatory demands.

Capco Partners Christopher Hamilton and Michael Pugliese have been named to lead the Group. Mr. Hamilton is also Capco’s Global Go-To-Market Strategy and Capabilities Lead. These partners, along with North American Capco Partners Sandeep Vishnu and David Cousineau, will complement Capco’s existing finance, risk and compliance services capability in Europe that is lead by Capco Partners Alexander Bommes and Maurizio Bradlaw.

“CFOs have realized the need to step up now and expand their responsibility for risk and compliance oversight to improve their ability to identify, aggregate and predict the impact of risk exposures in their portfolios,” said Capco Partner Christopher Hamilton. “In today’s environment, CFOs and Chief Risk Officers want access to similar data because they recognize that the accuracy and speed of access to critical information directly correlates to potential liquidity risk exposure. With these officers being asked to accomplish more with fewer resources, they are turning to Capco for our industry knowledge and ‘predictive analysis’ expertise in risk modeling, financial analysis and information management.”

“Historically, finance, risk and compliance departments have operated in silos and many organizations have approached compliance and risk management as a check the box exercise versus a true validation of completeness and soundness,” said Capco Partner Michael Pugliese. “In the new economy, more integration is occurring because key stakeholders are demanding far more transparency into business operations and internal controls, risk profile, and the risk-return equation. As a result, we’re seeing strong client demand for information management and data governance to drive critical decision-making and stability.”

According to recent surveys of business executives, broad changes within finance, risk and compliance departments are expected to take hold in 2010 and beyond:

  • Executives believe prior risk mismanagement was due to: over-reliance on historical data; overlooking knowable risks; and inability to manage risk in real-time due to dependence on lagging indicators and trailing data;
  • 46% of executives surveyed indicate that risk management does not have sufficient enough authority within their organization.
  • Due to the recession, executives will approach aspects of their companies differently: Internal Structure/Organization (51%), Forecasting (51%) and Risk Management Strategies (45%);

“Unprecedented change in the financial sector has put financial services companies under intense pressure from shareholders, customers and regulators who want to see greater returns, cost-efficiencies and stricter compliance,” said Greg Mitbo, Vice President, Oracle Financial Services. “Capco’s in-depth financial services knowledge and information integration expertise enables businesses to better leverage Oracle’s analytical applications – and this helps financial services companies to report their performance with greater confidence and transparency.”

Capco’s North American Finance, Risk & Compliance Group provides services to companies in Capital Markets, Wealth & Investment Management and Banking:

  • Finance: Core Finance Management, Enterprise Performance Management;
  • Risk: Risk Information, Risk Governance; and
  • Compliance: Regulatory Compliance, Regulatory Remediation Services.

Capco’s North American Finance, Risk & Compliance Group brings its clients a differentiated offering. By leveraging Capco’s industry expertise and thought leadership in Technology, Capital Markets, Wealth & Investment Management and Banking, the Group delivers a highly unique integrated view of finance, risk and compliance needs from a data and information perspective.

Capco Partners Christopher Hamilton and Michael Pugliese are leading the North American Finance, Risk & Compliance Group. Christopher Hamilton has consulted with global banking organizations in operational, technical, and functional areas for more than 20 years. Prior to Capco, he was senior vice president for BearingPoint’s Global Finance Risk, Compliance & Security practice. Earlier in his career, Mr. Hamilton worked for a major U.S. money center bank. Michael Pugliese joined Capco in 2009 from BearingPoint, where he was a Senior Vice President & Managing Director in its Management Consulting segment and led that firm’s Finance Practice. He has 20 years of experience in the financial services industry with a focus on retail and commercial banking.

The North American Finance, Risk & Compliance Group is part of Capco’s recently announced North America growth strategy to serve the needs of a broader range of clients. With offices across North America, the Group leverages the skills of Capco’s integrated, full-service team. Capco attracts the industry’s top professionals who have an average of 16 years of first-hand industry and consulting experience in financial services.

Capco is widely recognized by its clients for service excellence and exclusive focus on the financial services arena. Capco will soon publish a white paper on risk management, entitled “Enterprise Friction: The Mandate for Risk Management.”

About Capco
Capco is a leading global provider of integrated consulting, technology and transformation services dedicated solely to the financial services industry. Our professionals combine innovative thinking with our unrivalled first-hand industry knowledge to offer our clients consulting expertise, complex technology and package integration, and managed services to move their organizations forward. Through our collaborative and efficient approach, we help our clients successfully increase revenue, manage risk and regulatory change, reduce costs and enhance control. In North America, we specialize in Banking; Capital Markets; Wealth and Investment Management; Finance, Risk & Compliance and Technology with offices in Chicago, D.C., New York, San Francisco and Toronto. To learn more, contact us at + 1 212-284-8600 (+32 3 740 10 00 from outside the United States or Canada), or visit our Web site at www.capco.com.

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