Financial Services
“We help financial services organizations navigate disruption, gain competitive advantage and create sustainable change”.
Our consultancy services cover the following sectors:
Retail & Transaction Banking
Risk Management & Compliance
Strategy Formulation and Strategic Analysis
Money Collection & Bad debts Management
1. Retail & Transaction Banking
We help our clients develop and implement strategies for new digital business models, increasing competition, and shifting regulations. Our banking consultant teams come equipped with unparalleled expertise in mergers and acquisitions, information technology, organizational efficiency, and many other facets of the industry.
• Provides investigative analysis of complex banking and financial transactions, including the provision of expert evidence.
• Acts for various governmental agencies, multinational corporations and banks.
• Investment and commercial banking.
• Structured finance.
• Intercompany pricing investigations.
• Financial valuations.
• Corporates.
• High net worth individuals.
2. Risk Management & Compliance
Our team works on identifying, assessing and mitigating potential losses that may arise from an organization’s noncompliance with laws, regulations, standards, and both internal and external policies and procedures.
Our Compliance team coordinates the creation, review and implementation of policies and procedures established by the agencies that regulate the company. Compliance team applies and interprets audit and compliance requirements for various departments. They will interact with external auditors on matters related to audits of the organization’s internal controls, and assess potential fraud activity, plus develop fraud detection tools.
Our compliance team is backed by a solid background in statistical, analytical and organizational skills. Our team responsibilities in a Corporate Compliance can vary depending on industry, but typical responsibilities are as follows:
• Conducting compliance risk assessment training workshops
• Conducting internal reviews and audits
• Conducting environmental audits to ensure the company meets environmental requirements
• Advising internal management and business partners on the implementation of compliance programs
• Developing risk management strategies
• Following up on compliance issues that require investigation
• Evaluating compliance systems and ensuring adequate software is in place
• Reporting on compliance
3. Strategy Formulation and Strategic Analysis
If you ask a chess player the difference between tactics and strategy, they’ll tell you that tactics involve a short sequence of moves used to attack or capture a piece, while strategy involves long-term plans for victory, such as controlling the center of the board or optimizing piece mobility.
In the world of business, most people focus on a short sequence of actions to capture a profit or achieve an objective. But the grandmasters of the business sector are strategists: people who can see several moves ahead, and orchestrate short-, mid-, and long-term plans for success. Without them, a business would be hopelessly moving pieces around the board, with no cohesive rhyme or reason.
Strategists are at the core of a business’s decision-making. Often working with corporate executives and management teams, they collaborate across departments to determine and implement operational strategies. This role requires intense analytical ability, a keen business vision, and outstanding communication skills.
Strategists review organizations and determine their strengths, weaknesses, operational effectiveness and opportunities. They make recommendations based on internal and external factors to minimize risks and formulate plans to achieve an organization’s long-term goals.
4. Money Collection & Bad debts Management
Considering the transaction cost economies, most multinationals nowadays outsource money collection and bad debts management. As money collection and bad debts management do not fall within the organization’s core business, they are viewed as supportive activities with a preference to be outsourced.
Our team offers our clients a strong collection system by keeping in place the following activities:
A. Developing a credit policy and terms of trade in place
Many businesses supply goods and services on the basis of informal arrangements. Unfortunately, this means that disputes often arise that could have been avoided if there had been clear, written terms of trade from the start. Having clear terms of trade is an excellent way of minimizing and preventing bad debts.
Our team makes sure to complete thorough credit history and business reference checks before offering credit to new customers.
We advise our clients to clearly articulate to their customers upfront, in writing, their terms and the credit limits (so they know you are serious about the collection program) and ensure that they sign acceptance of such terms. It’s important that involved staff understand and follow this credit policy.
B. Provide the right information on quotes, invoices and statements
We advise our clients to provide the right information on documents and invoices promptly, so that they are more likely to be paid on time.
All quotes, estimates, invoices, contracts, agreements, purchase orders, and related documents should refer to the terms of trade and credit policy.
C. Make sure our client’s systems are up to date and monitored
The secret to good debtor management is well-maintained information. There are many software solutions available to help you with your credit management, and increasingly more of them are cloud-based. Good software solutions can relieve much of the administrative and managing pain associated with debtor management.
D. Implement robust accounts receivable processes
It is very important to have a robust collections process in place, with set timescales for the various stages of communication (letters, emails and phone calls). Our money collection team maps out our client process clearly and makes sure it’s understood by all involved staff.
E. We assure our clients do not overextend credit and avoid concentration risk
It’s critical that you regularly review the credit limits for each of your customers. Look out for warning signs that they are experiencing financial difficulties.
High customer concentration carries substantial risks, which can far outweigh any benefits in the long term.
A growing customer may help your sales, but rapid growth also puts pressure on their ability to pay. Make commercial decisions based on their Behaviour and any available information – industry gossip about a company’s financial position is often surprisingly accurate.
What to expect from EAG as strategist?
Our team work closely with clients to secure the following activities:
• Supporting the development of long-term organizational strategy.
• Conducting research and analyses of operational effectiveness, processes, stakeholders, etc.
• Aligning departmental goals, processes and resource allocation with the organizational strategy.
• Assessing market trends and competitors.
• Identifying threats and opportunities.
• Presenting findings, projections and recommended actions.
• Planning, implementing and managing proposed recommendations and projects.
• Monitoring and reporting on projects.
• Supporting and guiding senior executive decision-making processes.
