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Capco: Delivering Competitive Advantage with Compliance

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So Jene Kim, Partner, CapcoSo Jene Kim, Partner
In today’s highly regulated world, the constantly changing regulation has acutely impacted financial and risk management practices of banking organizations. The wake of new and strengthened regulations have created new complexities, high implementation costs and an increase in risk reporting for all banks and financial institutions forcing them to redefine their business models. They are also faced with operational and technological challenges to comply with the increasing regulations and to stay ahead of the curve. What banking organizations need today is reliable experts who not only understands the finance and risk converge, but also helps them build a robust compliance framework, support them in data supply chains, governance and reporting processes, as well as with interconnectivity.

One company that is stirring a revolution in the finance, risk convergence and compliance arena through their game-changing strategies, operational experience and RegTech expertise is Capco. The company exploits new technologies to successfully implement risk management and compliance programs aimed at aligning complex regulations in the financial services industry.

“At Capco, we understand the emerging trends that need to be addressed in the regulatory landscape and introduce our clients to some of the revolutionary technologies and capabilities through our digital innovation lab,” states So Jene Kim, Partner at Capco. “We are focused on giving our clients a more holistic approach to their problem and the different methods which ultimately pinpoint to the most fitting solution not only to deliver value to the bank in the present but also for the long run,” adds in Peter Dugas, Managing Principal at Capco’s Center of Regulatory Intelligence.

Besides Capco’s digital and data capabilities, the company has also built a Center of Regulatory Intelligence which functions in Washington DC and Europe.

Peter Dugas, Managing Principal, Center of Regulatory Intelligence
The team at Center of Regulatory Intelligence studies the political and legislative landscape and then helps financial institutions understand the specific regulatory requirements needed to build the most suitable system or technology to address their specifications. “Our team is a good mix of tech-focused people and digital innovators who keep track of the regulatory framework not just in the U.S, but also in other jurisdictions,” mentions So Jene.

Capco also offers managed services where in they perform some of the necessary activities that support regulatory compliance on behalf of the client providing them with end-to-end support, economic boost, and better efficiency. “With Capco’s global regulatory surveillance and intelligence capability, clients can proactively address their compliance or risk management hurdles,” remarks Dugas.

Capco’s consultants comprised of former chief risk officers, compliance officers and regulators combine their subject matter expertise and technical prowess to identify the client’s challenge accurately and map out a clear strategy.

Capco deals with clients ranging from Tier 1 investment banks to smaller community banks where the company identifies the regulatory challenges and exploits the improvement opportunities. One of the clients, a global financial institution chose Capco specifically to come in and help them with their CCAR compliance. They required a governance model which worked for their U.S entities while fulfilling their CCAR and regulation YY compliances. Capco conducted a SWOT and currency capability analysis, built a governance model as well as a management framework for their CCAR and enterprise risk compliance, and continues to support the financial organization in their regulatory requirements.

From a startup based in Belgium to a topnotch regulatory tech player, the company hit their 20th-anniversary milestone in 2018. Upcoming plans include enhancing Capco’s services to reach their full potential and be the provider of choice to their clients. “Through our digital lab, we want to bring about innovation so that our clients are able to make smarter and quicker decisions about renovating their processes,” says So Jene. Going forward, Capco intends to marry the worlds of financial services consulting and digital technology to make their client relationships stronger.

Capco News

Capco Launches New U.S. Insurance Practice

NEW YORK: Capco, a leading management and technology consultancy focused on the financial services industry, announced the launch of its U.S. Insurance practice, which will be led by newly appointed Partner, Frank Neugebauer.

“Our expansion into insurance is a natural progression of our business. The Insurance industry is in the process of going through a massive transformation to provide a better user experience for their customers and improve operational efficiencies. We have helped leading financial institutions outside of insurance achieve similar transformations," said Mike Pugliese, Managing Director and Head of Capco U.S. "Frank's robust experience developing innovative solutions in both the Insurance and digital space is a great asset for both our clients and our firm."

The new insurance practice will expand Capco’s continued mission to deliver innovative strategy and implementation solutions to clients across financial services. The insurance practice will span five key business domains, including Property and Casualty (P&C), Life and Retirement (L&R), Reinsurance, Employee Benefits and Distribution.

“In 2019 we expect to see continued upward trends for P&C, L&R, Employee Benefits and Reinsurance thanks in part to rising interest rates, lower unemployment and increased focus on lowering costs through operational improvements,” said Neugebauer. “Innovation, especially in the form of artificial intelligence and machine learning, is going to be at the heart of those efforts within insurance firms. With the launch of our U.S. insurance practice, I look forward to working with the outstanding team here at Capco to help those firms chart their course to a successful future.”

Neugebauer joins Capco with 28 years of experience in the insurance, manufacturing and healthcare industries with a focus on digital. His extensive experience in the insurance space makes him a natural fit to advise and support U.S. insurers on the opportunities and challenges ahead.

Prior to joining Capco, Neugebauer was the Digital Chief Technology Officer at Genpact, where he oversaw digital transformation in the firm’s managed services environment across policy, claims and finance/accounting. Neugebauer’s strong leadership credentials also extend to roles as a Director within PwC’s insurance business, Chief Information Officer at United Educators Insurance, Chief Information Officer at Kaufman Financial Group and Chief Technical Officer at ACORD.

In those roles, Neugebauer helped lead large-scale strategic transformation initiatives including core systems modernization, digital engagement platforms and analytics implementation. He also helped lead the project that made the ACORD Reference Architecture a go to industry framework.

In addition to Neugebauer, Capco’s U.S. Insurance leadership team will comprise of industry veterans Matthew Berkowitz, Vincent Molinari and a large group of existing Capco business and digital consultants with deep insurance experience. The U.S. practice joins the existing insurance practices in Canada, Asia and South America.

To learn more about Capco’s Insurance services, visit https://www.capco.com/industries/insurance

Capco Energy Solutions Welcomes New Partner Glen Ragland to Houston Office

HOUSTON: Capco, a leading management and technology consultancy focused on the financial services and energy industries, has announced the hiring of Glen Ragland as a Partner in the firm’s Houston office. He will be joining Capco Energy Solutions to focus on digital transformation, market growth and alliance partnerships.

Mr. Ragland brings more than 30 years of business, entrepreneurial, consulting and technology operations management experience with much of his career spent in the oil and gas, chemicals, Liquified Natural Gas (LNG), and utilities sectors. A native of Texas and a regarded professional in the community, Mr. Ragland brings deep relationships and both local and international expertise to his new role at Capco.

“We are thrilled to have Glen join our team in Houston,” said Lance McAnelly, Managing Partner of Capco Energy Solutions. “Glen’s deep relationships, experience and connections across the community are sure to make him an invaluable asset to our team and clients.”

Before joining Capco, Mr. Ragland most recently led his own company in the development and delivery of mobile software that extends and enhances SAP® to direct operations and capture real-time inventory, asset, maintenance and production information.

Prior to that role, Glen co-founded Versona Systems, an automated identification and data collection hardware and wireless solutions provider and co-founded and operated an SAP® integration and barcode scanning software company, Junot Systems. Glen began his consulting career with Ernst & Young where he was a Senior Manager and focused on growth of the Energy, Chemicals and Manufacturing verticals.