The increasing number of regulatory requirements poses a significant challenge to many private banks. Since detailed definitions of the regulations and directives are often published on short notice, banks need to prepare automated solutions, capable of quickly adjusting to and reconciling against complex requirement sets.

One such requirement is the pre-trade investment suitability check, in which a bank's representative assesses the appropriateness of a client’s investing in a recommended or desired product. The suitability assessment evaluates the alignment between the product’s features and (1) the client’s stated investment objectives and risk profile, as well as (2) the knowledge and experience possessed by the client. For an accurate result, dependable data is required regarding the client, the product and the identified risks, ideally updated in real time.

For globally active firms, compliance with local suitability checking standards is becoming the norm. In Europe (MiFID), East Asia and the Middle East, requirements are broadly similar yet differ in the details. As for Switzerland, upcoming FIDLEG regulations are planned to be implemented just around the corner in 2018.

Our Contribution

  • Coordination of the suitability tool introduction for a Swiss private bank
  • Project management and business analysis during implementation of local suitability requirements
  • Process analysis and concept creation to simplify the suitability review process
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