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practice 1:
Mastery of the accounting and financial function

Practice 1

1 - Reporting production:

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  • IFRS & Consolidation:

Assistance with the production of the consolidated financial statements.

  • Solvency II (QRT) & ENS Reporting :

Assistance with accounts closing (QRT, RSR, SFCR);

Optimisation and creation of business processes.

  • Outsourcing IFRS and Solvency II accounts

  • Investment accounting:

Assistance with regulatory reporting on financial assets;

Assistance with management reporting.

  • Technical accounting:

Accounting for inventory entries;

Calculation review of PPNA;

Consistency review of PSAP and provisions;

Setting up accounting schemes for new products (...).

  • Tax:

         Assistance with tax filing: taxable income, VAT, ACT, deferred tax, etc;

         Tax compliance audits.

  • Project assistance : Portfolio transfers, Creation of entities;

  • Team training​

2 - Implementation of new regulations

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  • IFRS 17  - Insurance contracts:

Analysis of optimal production system architectures;

Application of new accounting standards (PAA/BBA/VFA);

Creation of charts of accounts;

Setting up new reporting reports.

  • New tax regulations (impact analysis and process changes):

  • IFRS  9 - Financial assets :

Analysis of financial instrument classifications;

Analysis of the impact on the data collection process;

Redesign of financial statement format;

SPPI tests;

Implementation of new accounting schemes.

  • ICS (International Capital Standard):

Preparing the financial impacts, the GAP analysis Data and system.

3 - Accounting migration

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  • Securing the existing system:

Analysis of the quality of financial and accounting information and its relevance to management;

Identification of any areas of risk between the existing system and the target.

  • Assisting the Accounting and Finance Department in preparing for the Migration :

Identifying the impact of the migration (Accounting, Process and IT);

Drawing up target charts of accounts;

Creation of transcoding tables;

Static and dynamic certification;

Drawing up test plans and recipes.

  • Go live

Checking the completeness of the recovery;

Validation of accounting entries for GO / No GO.

  • Post Migration :

Secure data flows, including bank reconciliation;

Support for teams as they get to grips with the new tool;

Post-migration justification work;

Changes to the corpus of procedures.

Contact
If you have a requirement in this area, please do not hesitate to contact us.

Thanks for your requirements

practice 2:

Information Systems Transformation

Practice 2

1 - IT systems migration

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As part of a merger or the creation of a new company, Finengy Advisory can support you in the deployment of your business and systems:

  • Advice and assistance with invitations to tender and choice of tools;

  • Construction of the Target Operating Model;

  • Gap Analysis;

  • Drafting of functional specifications;

  • Data migration;

  • Coordination and management.

2 - System efficiency audit

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Fast Close mission and validation of the 4 pillars of your systems' efficiency

optimisation of resources * time * reliability * compliance with standards and regulations:

  • Multi Gaap statutory/IFRS/SII;

  • Closing process and systems audit: risk detection;

  • Process optimisation;

  • Data quality audit;

  • Shorter closing times.

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3 - Automation of reporting

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Application of the Finengy methodology (reduced dependence on ERP and implementation of a centralised data warehouse for all departments):

  • Analysis and optimisation of system architectures;

  • Project management;

  • Drafting of functional specifications;

  • Project management: Implementation of a data warehouse to industrialise SII / IFRS reporting;

  • SIT

"Information system" course: Each Finengy employee is given 6 months' training when they start work:

  • Understanding insurance information systems;

  • Audit the strengths and weaknesses of a system and propose the architectural overhauls needed to speed up systems and make them more reliable;

  • Dataware implementation techniques based on Microsoft technologies: Power Query; Power Pivot; Power BI; Modelling and ‘DAX’ language.

Contact
If you have a requirement in this area, please do not hesitate to contact us.

Thanks for your requirements

practice 3:
Risk, Control and Compliance

Practice 3

1 - Implementation of internal control

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We support you in creating, improving, implementing and reviewing integrated frameworks for identifying, measuring, mitigating and monitoring risks of all kinds:

  • Risk assessment:

    • Analysing and processing data;

    • Mapping and prioritising risks;

    • Check the consistency of business risks and execution risks;

    • Modelling risk analysis.

  • Implementation of the control plan:

    • Carry out second-level controls, providing an outside view and ensuring best practice;

    • Documenting recommendations for improvement.

  • Calibration and harmonisation of controls:

    • Building a coherent control framework;

    • Carry out a review of the system;

    • Produce reports on an industrial scale.

2 - Regulatory changes

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We can help you make a success of your transformation projects to meet the new demands of regulators:

  • Analysis of new obligations (SOX, Pillar 2 Solvency 2, Basel III, Sapin 2, etc.);

  • Analysis of business, process, accounting and IS impacts;

  • Definition of the project target and structuring principles (governance, key milestones, roles and responsibilities);

  • Definition of the roadmap;

  • Deployment assistance;

  • Steering and managing the project.

    • Organising and leading the various pilot events

    • Change management and skills transfer

Our added value:

  • Our knowledge of your complex environment and operational challenges;

  • Our team of risk management specialists;

  • Our expertise in technology and data to optimise risk identification and management.

Contact
If you have a requirement in this area, please do not hesitate to contact us.

Thanks for your requirements

practice 4 :

Actuarial Science and Risk Management

Practice 4

4 - Actuarial and Risk Management

We can help you with your recurring work, your actuarial challenges and projects in the fields of NON-LIFE, HEALTH and PROVISION insurance, including BORROWERS:

  • Pricing and underwriting governance:

    • Implementation or updating/revision of underwriting standards and policies;

    • Technical design, including product offering parameters;

    • Definition of the conditions for the economic and financial profitability of contracts;

    • Strategic and technical advice and support for those responsible for underwriting and marketing products.

  • Inventory:

    • Carrying out an inventory of a portfolio of contracts;

    • Calculation and validation of technical provisions;

    • Calculation and analysis of technical margin trends;

    • Preparation of co-insurance and reinsurance accounts;

    • Production of regulatory reports, statistical studies and technical notes.

  • Solvency 2:

    • Standard formula/internal model: Validation of risk and reinsurance modelling;

    • Calibration of Best Estimate and shocks;

    • Updating technical specifications for internal models and impact studies;

    • Calculation of economic capital linked to technical risks and AOC;

    • Regulatory reporting: ENS, QRT, RSR, SFCR;

    • Outsourcing the actuarial function.

  • Risk Management

  • Actuarial work IFRS 17

  • Actuarial project management

    • Organising and leading the various pilot events;

    • Adjustment of actuarial models or launch of a new product;

    • Brexit, creation of insurance companies.

Contact
If you have a requirement in this area, please do not hesitate to contact us.

Thanks for your requirements

practice 5 :
formation

Practice 5

Accounting and financial production:

  • Insurance company accounting ==> 2 days

  • IFRS 17 standard - Insurance contracts (accounting applications - beginner level) ==> 2 days

  • Solvency II (Pillar 3) - Mastering balance sheet valuation and understanding QRTs (beginner level => 2 days/intermediate level => 2 days)

  • IFRS 9 standard - Accounting for financial assets and liabilities (beginner level) => 1 days

  • LCBFT - Combating money laundering and the financing of terrorism – Bank & Insurance => 1 day

Information systems:

  • Setting up Dataware on Power Pivot and Power BI => 2 days

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Internal control

  • Internal control compliance in insurance => 1 day

  • Compliance and internal control in banking => 2 days

Financial managemen

  • Mastering asset liability management in banking => 2 days

  • Financial markets (Level 1) => 2 days

  • Bond markets => 2 days

Contact
If you have a requirement in this area, please do not hesitate to contact us.

Thanks for your requirements

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