A few examples of our previous assignments
Art sector
Digital strategy implementation support
As part of its digital transformation, a client wishes to set up new distribution channels (online sales platform, new showcase site, development of mobile applications) and renew its operating systems (CRM, ERP).
Our client has mandated us for the following activities:
- Help in the definition of the needs and draft the specifications
- Support in the management of all the projects initiated, and coordination of the service providers involved in the various projects
- Control and respect of the schedule and budget
- Regulatory advice from a Data Protection and Anti-Money Laundering point of view.
Key success factors:
- Definition of the needs, drafting of specifications in order to launch and manage a Request For Information
- Implementation of project monitoring tools
- Realization of weekly monitoring committees
- Organization of workshops involving all stakeholders
Results:
- Obtain quotations consistent with the client’s requirements
- Control of costs related to various service providers
- Implementation of a detailed action plan
- Delivery of the website and mobile applications
- Improvement of the organizational processes in place
Helpdesk
Un support à la demande pour répondre à vos questions et analyser vos cas pratiques
Formations
Animation de sessions de formations pour sensibiliser le personnel de votre établissement
Veille réglementaire
Un service de veille juridique et fonctionnelle adaptée aux spécificités monégasques
Assistance à la mise en conformité
Elaboration de cartographies des risques, réalisation de diagnostics de conformité...
Banking industry
Periodic FATCA review
Our client mandated us to perform the periodic FATCA review for the purpose of reporting to the IRS.
As required by the FFI Agreement our audit consisted in summarizing:
- Based on a sample of accounts, review all account opening documentation in order to identify possible FATCA violations and deficiencies in the identification of Americanity indicators
- Based on the same sample, review the withholding tax calculation for US, recalcitrant and NFFI accounts
- Ensure that the various reports to the IRS met the requirements of the FFI Agreement
Key success factors:
- Implemented an audit methodology that exactly met the requirements of the FFI Agreement
- Established dynamic communication with FATCA process stakeholders and management to resolve blocking points
Results:
- Periodic FATCA review report
- Proposal of a remediation plan
Pilotage de projets
Gestion de projet, communication et gestion du changement
Data Quality Management
Remédiation de dossiers clients et cleaning de bases de données
Support opérationnel
Un service de veille juridique et fonctionnelle adaptée aux spécificités monégasques
Asset management company
3rd level periodic control
Our client, an asset management company in the Principality, has mandated us to carry out its third level periodic control. Our mission, which takes place throughout the year and over several financial years, aims to build and implement a control plan to ensure the effectiveness of the control system set up by our client.
Consequently, the objective, during our interventions, is to cover all the risks of regulatory non-compliance, non-integrity of financial information and operational inefficiency.
Key success factors:
- Implementation of an audit methodology that respects the highest quality standards
- Complete and transversal understanding of all the company’s processes and stakeholders
- Transparent and regular communication with management for an effective resolution of key audit issues
Results:
- Production of a quarterly audit report
- Follow-up on the improvement and remediation of controls and processes
- Support in defining new key controls
Banking industry
Project management and regulatory compliance monitoring
Our client mandated us to conduct an audit and then remediation management on a perimeter of 800 customer accounts.
We intervened in three main phases:
- Sizing and setting up a rapidly operational and trained Task Force
- Propose and implement audit tools (questionnaires, consolidated follow-up, weekly reports, etc.)
- Based on the results of the audit, propose, and implement the management of the remediation of accounts with regulatory deficiencies
Key success factors:
- Recruitment and follow-up of a perfectly sized team
- Involvement of several departments (front-to-back) and coordination of the project with the various stakeholders (daily support, regular follow-ups, steering committees, etc.)
- Implementation of an agile project management to adapt to the organization’s practices
- Local expertise and experience on regulatory issues to efficiently handle complex cases
Results:
- Account review tools now in use by Compliance teams
- 100% of client files in scope remediated and compliant with local regulatory requirements
- Internal teams trained and sensitized
CRS
Outil de reporting multi-juridictions
FATCA 8966
Outil de production des rapports annuels (pooled/named)
LCB / FT-C
Outil d'évaluation des risques BC/FT-C à l'échelle de l'entreprise
ANA CREDIT
Outil de production des fichiers pour la Banque de France
VUC
Outils de production de rapports FGDR sur les dépôts garantis VUC
Autres Reporting
15 autres rapports fiscaux et réglementaires
Contact us
Tel : +377 97 77 10 44
Email : contact@phoenix.mc
Odeon Tower
36, avenue de l’Annonciade
MC 98000 Monaco
Principality of Monaco
