Sample Client Projects
Client projects within Ireland and the United Kingdom have focused on Corporate Governance, Internal Audit, Risk Management and Finance related subjects, and projects in the Treasury and Lending, and other Retail financial services areas.
In addition to the selection of projects listed below, a multitude of projects were managed for a large Frankfurt/Munich-based bancassurance group, including Audit Assurance and Operations Management responsibilities for the group's large internal audit function (global headcount of approx. 200 FTE).
Interim Management in Regional Audit Office for Japanese Financial Services Group
Thomas was rehired by one of his former clients to support the management team in establishing their regional audit office, responsible for several legal entities across banking, asset management and securities trading. Apart from providing leadership for selected time-critical audit engagements, Thomas coordinated the audit planning process, carried out a comprehensive skills assessment of the audit function, benchmarked the function against IIA professional standards, and refreshed the design of a holistic audit opinion for senior management and Audit Committee. In addition, a comprehensive stakeholder survey was carried out, in advance of and subsequent to an External Quality Assessment. While covering for the Chief Manager vacancy over a 12+ months period, Thomas was directly involved in the due diligence process for a significant acquisition made by the parent company.
Co-sourcing with Group Internal Audit of US Asset Manager
Upon recommendation from a former client, Thomas was hired to support the EMEA Internal Audit team of a US Asset Manager. The initial focus was on one of the FSA's (and other international regulators') concerns around Best Execution of client orders. In addition, a review of outsourced activities of their Irish subsidiary was carried out, followed by a post-implementation review of a sleeves structure for their Multi-Asset solution, and the firm's Internal Capital Adequacy Assessment Process (ICAAP).
In 2019, Thomas was rehired to project-manage the independent review of the project for a new digital solution prior to roll-out. Subsequently, Thomas delivered the client's Agile in Internal Audit pilot project as "Product Owner", with direct interaction at senior leadership levels within the firm.
Assurance Project for Japanese Commercial Bank
Thomas carried out a data audit for the bank's market risk division, in order to provide assurance over the data governance processes in place and the quality/reliability of management information produced from the data. In addition, Thomas conducted a review of the clients corporate bond investment desk in light of significant sectoral and geopolitical uncertainty. Subsequently, Thomas was re-engaged by the client for a review of the implementation status of the UK's Remuneration Code as well as the FSA's findings on the bank's corporate governance arrangements.
Thomas supported the client's internal audit function in the delivery of an assurance opinion on the firm's investment risk function,which was going through significant transformational change at the time of the review.
For the London Branch of this Japanese bank with substantial Corporate Finance and Treasury Investment activities in the UK, Thomas provided risk management advice and an assurance opinion on the Lending portfolio, the Investment Planning / Funding side of the business, and on the Credit Review activities for the Corporate Loan & Bond and CDS portfolio. The assessment was taking place within an evolving risk governance & risk appetite framework.
Advisory & Assurance Project for UK Asset Manager
For a leading asset manager in the City, Thomas delivered advice and an assurance opinion on two themes that have been of particular concern to the Financial Conduct Authority for quite some time: Conflicts of Interest in the asset management industry and Outsourcing/Off-shoring of critical business functions.
Internal Audit Co-sourcing Engagements
Thomas provided specialist internal audit / corporate assurance services to a US-based technology firm, a Swiss-/UK-based consumer goods group, and the Irish operations of a global asset manager. In addition, Thomas provided quality assurance on an IT development project for an IFSC bank. In all instances, Thomas collaborated with the client's own resources, provided effective support with zero lead-in time, and delivered tangible benefits.
Financial Due Diligence Project for Irish NAMA Institution
Thomas led a large team of professionals over several months on a challenging project for one of the Irish financial institutions, to provide financial due diligence on a €7bn tranche of their loan portfolio (250+ cases) prior to transfer of loans and associated assets to NAMA.
360 Degrees Management Assessment
Thomas facilitated a 360 degrees review of the management team and provided feedback as well as hands-on practical advice on how to use the identified strengths, and how to address the identified weaknesses in the organisational development context.
Internal Audit Transformation and Strategic Advisory
Thomas was a member of the core team for the Strategic Advisory project for one of Ireland's largest financial Institutions, covering the transformation of the group internal audit function and the design and implementation of a robust Three-Lines-of-Defense assurance model for the client. The assignment included the liaison with divisional and group risk management and establish strong working relationships on behalf of group internal audit. In addition, Thomas supported the establishment of the operational support, performance measurement and quality assurance units for internal audit.
Strategic Activity and Busines Process Review
For a major Irish regulatory body, Thomas was involved in the analysis of the strategic activity profile, the risk and resource allocation models in place, and business process reviews across the organisation.
Corporate Governance
Review of the clients Life & Pension business, focusing on corporate governance and the core actuarial calculations.
For a joint venture between a pan-European financial services provider and an Irish semi-state organisation, Thomas was instrumental in designing and implementing the Internal Controls policy and procedures.
Review of the client’s Finance & Leasing business, partly with a view to improving corporate governance and streamlining the operational procedures.
Treasury
Review of the client’s Global Treasury Services, comprising the operations in three jurisdictions.
For a major domestic airline, Thomas reviewed the Treasury function with a focus on the company’s liquidity management policy and procedures.
Lending
Review of the client’s residential mortgage lending business, coinciding with an ad hoc review requested by the Financial Regulator in light of a deteriorating lending environment.
For another major Irish financial institution, Thomas reviewed the residential mortgage lending operations in the United Kingdom and the level of integration with-and efficient use of resources of-the parent company in Ireland.
For a major French corporate and investment bank, Thomas reviewed the Client Credit Group which primarily supports the credit analysis for the various business lines.
Finance and Internal controls
Testing of key financial controls in the client’s Capital Markets division, in accordance with section 404 of the Sarbanes Oxley Act.
Evaluation of policies and procedure around the governance of the General Ledger in the client’s UK and Northern Ireland division.
Other Retail banking operations
Review of the client’s offshore business, with a focus on trust administration services.
Review of the client’s Direct Banking Contact Centres and Card Services operations, both from a risk and operational effectiveness and efficiency perspective.
Review of the policies and procedures around the client’s property investment structures.
Review of the governance structure in place around the client’s remuneration/bonus schemes.