Defining the risk management model of a financial institution in Latin America
Bluecap defined the risk management model of a financial institution within the framework of its existing process to obtain its banking license and begin operating in Latin America. This allowed the financial institution to successfully meet regulator requirements within the indicated scope and start operating within the proposed time framework.
- Within the international expansion process of an important financial institution in Spain, the latter decided to start banking operations in a region of Latin America with a special focus on the business and corporate segments for which it needed to begin the process for obtaining a banking license from local regulators to operate as a multiple banking institution.
- The Corporate Risk Management department contacted Bluecap to seek help to define the risk management model of the new entity to ensure compliance with local regulations , as this would enable them to successfully overcome the process involved in obtaining the necessary banking license.
- The implementation of the defined risk management model ended four months prior to the implementation of the models and processes of the remaining areas of the institution, allowing the client to implement improvements in addition to those already planned.
- The risk management (and the entity as a whole), successfully passed the review process which carried out by local regulators requesting a banking license.
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Operational Risk Management Model