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Financial Consulting Hub is the only leading risk and compliance consulting firm that brings together almost exclusively senior experience. The company offers a full range of services, expertise and software to help insurance companies and banks be efficient and profitable in an increasingly challenging environment with complex regulatory requirements.
The Financial Consulting Hub (FCH) is unique in its business model from two perspectives; In addition to integrating consulting services and software, the company is both a classic consulting company and an umbrella organization that brings together the leading experts in the market.
– We bring together more than 1000 senior consultants and are a center for financial services at risk and regulatory compliance. Most of our employees have around 20 years of experience in each risk area. In addition, we have a large number of consultants that are connected to our umbrella organization, which means that we have a full range that includes both risk management and compliance, actuarial services, software implementation support, outsourcing offerings, support management, project management and more. We are the only ones in that position, says Peter Larsson, founder and managing partner of FCH.
Framework agreements with major players
FCH started two and a half years ago. Many of the founders and employees were already active in the industry, but there was a belief that there was a better way to act as advisors to clients. At present, FCH is the only consulting firm whose main focus is on the insurance side first and banking second.
– In insurance, we are active in the entire range of risks and regulatory compliance that exists. This means that we are well acquainted with all the regulations and, furthermore, we have framework agreements with most of the major players.
Excellence in IT
In addition to these areas, FCH also has cutting edge IT expertise with a focus on the financial sector. Peter emphasizes that the company is not an IT consulting company, but rather they end up between technology and business processes.
– Our systems actuaries specialize in assisting, for example, in the implementation of actuarial systems for everything from risk management and compliance to the integration of various models and the optimization of, among other things, data management and performance. There are perhaps a handful of these specialists throughout the Nordic region and most of them can be found with us.
An obvious partner
The combined technology and finance expertise that is available at FCH makes the consulting firm uniquely equipped to be an obvious partner. While many competitors lack technical knowledge, system players in the market, on the other hand, rarely understand how banking and insurance operations actually work and how complex the regulations are. For many players in the financial sector, ever-changing regulatory requirements can pose great challenges, especially in terms of managing all data and managing reports, but also in terms of scheduling, data integration, risk calculations and management and internal control.
– FCH works daily to comply with the requirements of good corporate governance, risk management and compliance. For example, we do a lot of work with IFRS 17, which goes into effect on 1/1/2023, which imposes new requirements on how insurance contracts are valued. This, in turn, places far-reaching demands on companies’ IT systems, for example debt valuation, data management to ensure good data quality and reporting. Other important regulations that we work with on a daily basis are the Directive on Retirement and Solvency Pensions II, where we see that companies still need a lot of support.
Ad hoc work involves risks
Peter says that there are still many insurance companies that work mainly manually, on systems that are not tied to new requirements and regulations. Things like risk management, analysis, monitoring and reporting functions are carried out on an ad hoc basis and this involves significant risks.
– Digital transformation means huge new opportunities for these companies. Therefore, we work hard to help our clients move from their obsolete manual processes to more robust, automated and controlled processes. We spend a lot of time ensuring good governance and control, structuring the processes and ensuring that the data is manageable, traceable, of managed versions and follows the principles that exist in the respective current regulations.
While FCH has grown between 300 and 400 percent per year since its inception, the company has not set any specific growth targets going forward. Instead, it is in a development phase in which it matures as a company and seeks new markets.
– It also includes the hiring of a new board to access the fall and the incorporation of new partners. It’s a really exciting time, Peter concludes.
Read more about The Financial Consulting Hub
INFORMATION ABOUT THE FINANCIAL CONSULTING CENTER
Financial Consulting Hub (FCH) was founded in Stockholm in 2017 and today is a leading Nordic consulting company active in risk management and compliance. The company offers a full range of services, expertise, and software to assist insurance companies and banks in their work to be efficient and profitable in an increasingly challenging environment with far-reaching regulatory requirements.
FCH works with clients in all segments, from the largest companies in the market to the smallest players who need access to the leading experts in the market. As the only consulting firm in the Nordic region that brings together almost exclusively senior expertise, FCH’s client offering is unique.
Email: [email protected]
Exchange: +46 8280818
You can also contact Peter Larsson, CEO of The Financial Consulting Hub, for more information.
Email: [email protected]
Car: +46 73 562 51 89
