Control Functions

Expectations on financial institutions’ control functions are increasing, both from the ever-growing regulatory framework, the supervisory authorities and from the organizations themselves.

FCG Managed Services provide solutions tailormade for you, supporting your daily operations in governance, risk and compliance.

Control Functions

We provide you with a unique access to our team of specialized resources within control functions and our best practices and technologies. Our consultants have solid expertise with a background from both control functions, business operations, and from the FSA.

Through us, you gain the advantage of our thought leadership in the field, transformed into hands-on solutions and services, ensuring cost efficiency and compliance in your business processes.

FCG is driven by breaking new best practices but also questioning “old truths” or interpretations and demands from the FSA. For FCG, integrity is essential, and we believe in sound and business-adapted solutions in accordance with the principle of proportionality.

Together, and based on your needs and ambition level from time to time, we build a long-term and sustainable solution which will increase your competitiveness.

Control Functions

Both in the present and future regulatory landscape control functions need to be agile, service oriented and to have the ability to prioritize what to focus on. It’s also important to have the capacity to deliver simple answers to complex questions. To achieve both sustainable compliance with external expectations, and satisfy internal needs in governance and day to day business, control functions have to have the depth within all different regulatory areas, risk categories, and a solid experience as of industry best practice.

Risk and compliance as a service

FCG can support your organization either by managing your entire control functions on a permanent basis, or to support your inhouse control functions on an ongoing basis. At any time, you have the opportunity to request the expertise you need, from strategic and analytical expertise to simpler daily relief.

With the ongoing support from FCG your control functions will:

  • Ensure deep knowledge and experience by getting access to FCG’s 250+ experts and current best practice
  • Ensure comfort by achieving continuity and the capabilities to meet the organization’s as well as supervisory authorities’ expectations
  • Receive ongoing support in your daily operations in governance, risk and compliance
  • Get guidance on changes in the business environment, the regulatory landscape and how competitors handle similar challenges  
  • Ensure sufficient resources and help you increase productivity, allowing you to focus on core business and internal resources where needed
  • Ensure independency and a second opinion

Actuarial Services

FCG Managed Services can support your business and your decision makers as your appointed actuary. FCG can also manage other traditional actuarial services including operational actuarial services, valuation, modelling and reserving.

Combining the experience of our dedicated actuarial professionals and our experts in related areas across FCG, we provide truly integrated services across all disciplines in the insurance industry. Our in-depth global knowledge originates from our work with life, P&C insurance companies, pension funds and our thorough know-how of local regulators enables us to deliver high-quality actuarial services.

Internal audit services

Our experience is that market providers of internal audit services find it difficult to exercise a prioritized and deep enough screening.

FCG’s philosophy is to review overall methods, processes and organization in a three-year plan as well, but also take a deeper approach via our experts in priority and client-critical areas. Hence, you need to be able to understand the complexity of details to later derive overall conclusions at the strategic level and for the value of a board.  

FCG can support you with the following internal audit services:

  • IA as-a-Service – we work together with your IA function and support you on an ongoing basis with the activities that you need, for instance risk analyses, audits or expertise in desired areas.
  • Full Outsourcing – You outsource your IA function to FCG. We perform internal audits and align the IA strategy with the organizations vision, strategy and goals. We support you and the board with valuable reports with clear audit results and relevant recommendations for improvements.
  • Education – Our internal auditors and specialists conduct customized training sessions and seminars in emerging areas based on your needs

Client stories

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