In this video Jack Perkins of the Financial Times interviews, Frank Mackris, head of BearingPoint’s banking practice. The video was conducted during the Financial Times Cost, Performance and Market Survival Editorial Breakfast. In the interview Frank discusses how cost take out and performance improvement needs to become a greater imperative for financial services organizations. He examines how companies can make cost take out more of a priority, which may mean a fundamental change of the company’s cost structure and the importance of executive sponsorship.
In this podcast Jack Perkins of the Financial Times interviews, BearingPoint managing director, Brian Hart during the Financial Times Data Management and Use Editorial Breakfast. During the interview Brian addresses the economic turmoil and the lessons risk executives can take from recent activities. Brian outlines recommendations for executives on how they can manage the economic downturn and addresses the need for a cultural overhaul. Finally the podcast reviews regulators and their responsibilities to the market while outlining some factors for future success.
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Tagged Brian Hart, compensation, data management, finance, financial markets, Financial Times, governance, Jack Perkins, regulations, risk, risk management, transparency
Join BearingPoint Managing Director, Brian Hart, as he explores the importance of an adequate risk and performance platform and how it can help companies deal with the credit crisis. Given the scope, depth, and length of this crisis, our clients are clearly being forced to re-examine how they conduct business. The issues that we see are the most prevalent are the need to access capital, how to fund a balance sheet, earnings, acquisitions and dispositions, government intervention, and most importantly- the speculation around change. When an organization deals with these issues on a day-to-day basis, like we see happening now, we know we’ve entered crisis mode. This has many companies wondering what went wrong and how can we better equip ourselves for the future?
The single most important thing that needs to be addressed is the realization of how much capital is being used at a given time. Most people don’t realize how much capital they’re using because of their lack of transparency, and when they finally realize it, it’s too late. To come out of this, we’re asking people to watch very closely how much capital they are spending and to cut any unnecessary costs. This can be done by acknowledging the need for better data management and risk capabilities. BearingPoint has addressed this with a seven point analytical strategy that can assist clients with understanding what changes they need to make. In the podcast, you will hear important points, such as how to manage data, estimate risk, change current business processes and how to implement an integrated risk and performance framework.
Clearly this crisis has exposed a number of weaknesses in risk management across the sector. Most organizations still have basic issues around risk and transparency. This podcast addresses key areas that are lacking in the risk management sector; such as understanding your risks, what risks are making you money and how effectively your trading machine is working? There are many changes that need to be made across the entire financial services sector, and the key points that are addressed in the podcast can help you itemize an action plan to take the appropriate measures to ensure future success.
The key step to enhancing information is to look at the situation across your entire company to evaluate where the problem lies. Once you’ve focused on the business requirement, you can easily see where the technology fits in. When a company has enhanced information and data, they have a better chance at success. The organization also must have the ability to react to market changes, and better yet, be proactive.
Join BearingPoint Senior Business Advisor Jaime Garza to discuss the call for better management of information to support profitability measurement and pricing in today’s U.S. interest rate environment. Changing interest rates affect all of us when it comes to our personal savings accounts and other financial services. The interest rate movements have begun to have an impact in new ways – especially for mid-size and larger institutions.
Improved business intelligence (BI) tools provide organizations with new opportunities to capture performance benefits. Effective use of BI helps organizations transform raw data into actionable information and competitive advantage. But defining and executing the BI vision provides some challenges.
Organizations can be effective by matching their needs and pain points to mature technology tools on a just-in-time basis. And they must execute incrementally against a time-based road map. This new thinking to a practical approach works for organizations regardless of where they are on the BI maturity continuum. Executing BI within a business oriented vision and a broader enterprise information management framework can set companies apart from their competitors.
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