PROJECT SUMMARY

New business operating model

Belgian corporate bank

Assist the finance and controlling departments with the implementation of a new business operating model for corporate customers, with outsourcing from Belgium to Ireland, including the implementation of a new system and data migration.

Challenge

  • Multiple locations and interests
  • New system
  • Smooth transition

Approach

  • Setup of local regulatory reporting (Central Corporate Credit Register (CKO), Balance of Payments (BOP), Scheme A/B) in the new system
  • Mapping the Chart of Accounts/General Ledger from the old to the new system
  • Implementation of specific product and tax (withholding tax, stamp duty, VAT) treatments
  • Identification and follow-up of conversion/migration activities and issues
  • Definition of processes, procedures and governance around finance and controlling activities in the new business operating model

Impact

  • Timely and complete preparation of the areas in scope

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