This service is primarily aimed at financial institution clients where we have considerable expertise. We are credit and risk experts. The principals have each held senior portfolio management and credit trading roles in Fintech companies, banks, fund managers and family offices:

• Devised and implemented credit procedures and policies in online lending platforms and credit funds and have advised clients on credit policy in the Fintech sector.
• Worked with major credit portfolio models (developed in-house and through third party providers) and established credit risk parameters for diversified portfolios comprised of sovereign, corporate. financial institution and structured finance assets.

We can help senior management deliver in the following areas:

• Implementing new or evaluating existing operational processes
• Specialists in operational and credit risk
• Deep experience in SME and rated credit portfolios
• Experts in outsourcing
• Extensive knowledge of digital platforms

Promethion has delivered €86m of value by implementing improved risk measurement and controls and increased efficiency in business processes:

• Used outsourcing in Ireland and Luxembourg to improve efficiency and save £1m in operating expenses for a fund manager.
• Conducted a review of a €25bn cash and synthetic asset portfolio for a UK bank.  Addressed the risk management procedures and reviewed various asset-backed investments held by the group through its conduits and its proprietary investment book. Checked internal models and assessed provisioning levels. Operational risk was conservatively estimated as high as $17 million with additional reputation and regulatory risk.
• Reviewed €5bn portfolio of 6 credit derivative transactions for a German bank. Re-engineered the synthetic CDO to address weakness in the substitution mechanism and other problems. Remedial action on immediate risks avoided a trading loss from problem exposures totalling $15 million.   
• Advised a European fund on de-risking during the Financial Crisis, including the sale of illiquid cash assets, correctly anticipating further market deterioration in 2008 saving an estimated €3.75m from further market deterioration.
• Developed a sophisticated CVaR model for an offshore hedge fund to evaluate the impact of extreme risk scenarios in conjunction with Imperial College, London for presentation to counterparties, regulators and the €50m seed investor.
• Wrote credit policy manuals approved by regulators in the UK, Ireland and Luxembourg.
• Created governance frameworks in start-up firms and improved controls in existing businesses:

• Oversight and accountability at Board level in setting governance mechanisms
• Metrics to monitor the multiple risks facing the organization and ensure operational resilience
• Mapping business processes and allocating responsibility to managers
• Identifying and managing threats and vulnerabilities
• Creating robust management information and reporting structures