About-Berkeley

About Berkeley

We’re about being there for our clients when it really matters. When it absolutely has to be right. Doing the right thing is both our ethos and sweet spot. And it’s why clients turn to us again and again

 

Careers

Find out how you can make a big change to your career by joining one of the best small firms in the UK.

 

I graduated from Liverpool University with a degree in Geography in 1999, and seeking variety while I decided what I wanted to do long term with my career, I began my management consultancy career at ...

Kirsty Nethersell, Partner

Kirsty Nethersell

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The people

It's the people that make Berkeley different to other consultancies. Bright, friendly, down-to-earth people who are both thinkers and doers. Working by your side, as consultants and colleagues, to get the right results.

Financial Services

A key moment; some big opportunities

In the world of financial services it is far from business as usual. The industry is going through a significant period of change. There are many challenges that financial institutions are facing, but there are also some big opportunities.  The four areas highlighted below are particularly relevant to many organisations and are ones where we have both significant insight and capability. 

Implementing regulatory reform and compliance

Firms are facing a challenge to interpret the wealth of new regulatory requirements.  More significantly, however, many organisations are struggling to deliver successfully the scale and complexity of change that is required.  With over 40 further pieces of European and UK legislation potentially coming into force over the next five years, including major elements such as MiFID II and MAR, the regulatory burden is unlikely to ease.  Meanwhile compliance continues to be a major issue, as indicated by recent examples of major breaches of rules and regulations.

Managing operational risk

Since the financial crisis, the regulatory bodies have tightened up requirements on the management of operational risk significantly.   Financial institutions are finding it hard to build the capability to identify and monitor risk to ensure compliance, especially when they are operating across so many markets and territories.  This failure to deliver a more robust response to managing operational risk can be expensive both in terms of the significant fines being imposed for compliance breaches and the impact it can have on capital requirements.

Delivering digital transformation

The business world has increasingly become a digital world.  As many financial services organisations are discovering, this is both an opportunity and a threat across the retail and wholesale markets.  Making the most of digital opportunities and successfully landing the organisational transformation that this requires has become critical.  The challenge is how to ensure differentiation by redefining and reinventing the customer experience.  In retail markets this is particularly challenging, requiring insight into the needs of the next generation of financial services customers.

Exploiting big data and analytics

The combination of better analytics capabilities and the availability of large volumes of data means that ‘big data’ is more important now than ever before.  The vast amount of data that most financial services firms have to deal with means that the opportunity to exploit ‘big data’ is particularly relevant to the sector, ranging from new customer insights through to enhanced fraud management and more effective operational management.

How we can help

We know the financial services sector well with a broad range of experience across the banking, investments and insurance industries.

We understand the regulatory and operational risk environments particularly well and are in the relatively unique position of working with both the key regulatory bodies and a number of leading market players.  As a result, we genuinely know what it takes to tackle the big complex demands of responding to regulatory change and managing operational risk more effectively.

In the areas of digital and ‘big data’ our experience of working in other sectors such as retail and FMCG gives us some real insight into what the leading organisations are achieving and what is key to their success in exploiting these technologies.

Across all four areas that we have highlighted, developing the right strategies and then delivering effectively is key.  Effective delivery, for example, requires the right people in the right place; a clear direction on what to do and when; setting strong foundations at the start of the projects; controlled onward delivery and visibility throughout to avoid any unpleasant surprises. We exploit our expertise of delivering excellence in all these areas to fill the gaps in your teams and do what it takes for your organisation to be successful.

The work that do with our clients in both the financial services and other sectors is much broader than just these four areas, however, and includes: 

The full range of our services can be found here.  

Our experience

Below are some examples of current and recent work in the financial services sector.

  • We worked with a key financial regulator to implement a customer credit regulatory regime bringing 50,000 new firms under the jurisdiction of the regulator.    
  • We are working with a leading global bank to transform its operational risk management capability in a three year programme that will impact each of the bank’s four global lines of business and 74 countries of operation.
  • We helped create a transformative HR strategy for one of the world's largest banks.
  • We developed a new operating model for an investment management business.
  • We helped a leading insurer to develop their IT strategy.
  • We developed an overall Enterprise Information Roadmap for a leading financial regulator by leading a review to assess the root cause of IM/ BI performance issues and deliver an action plan to mobilise the programme.
  • We helped a leading UK based specialist financial services group deliver a new customer service programme. 
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