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Prometeia assists Nigerian banks in facing next Risk Management challenges

The Nigerian financial sector is moving to a gradual convergence towards the international Basel Committee on Banking Supervision and IFRS frameworks, which are rapidly transforming the approach of banking players towards balance sheet risks.

Prometeia, the global leader in Risk Management consulting and SW solutions, in cooperation with RIMAN, the Risk Management Association of Nigeria, will discuss the new regulatory scenarios and industry trends in a conference in Lagos on November 25th. The workshop will focus on the main challenges that IFRS9 is setting for Loan Loss Provisioning and the impacts that Basel 2 and Basel 3 are having on Capital Adequacy and Liquidity Management, the two cornerstones of Enterprise Risk Governance.

“This event confirms the importance of Nigeria in our international strategy,” says Massimo Pedroni, Head of International Business Practice at Prometeia. “Being a leader in Europe and other developed markets, Prometeia can leverage its international best practices to design the optimal methodological approach for banks facing a transition phase from the use of standard models to advanced solutions, more aligned with the new Basel and IFRS standards,” comments Pedroni. “This ‘blend’ obviously requires a deep knowledge of the local environment, which is a distinctive feature of Prometeia’s approach to emerging markets. We are proud to have recently completed a very important assignment in one of the top Nigerian banks, consolidating our leadership in EMEA region, where we count more than 200 references.”

The Nigerian panel will include Mrs Tokunbo Martins, Director of Banking Supervision at the Central Bank of Nigeria, and executives of leading banks in Nigeria. The experts will share their experience and views in implementing Basel and IFRS projects, along with Prometeia’s consultants, who will illustrate their international experience on Capital and Liquidity Management.

With over 40 years of experience in economic research, quantitative analysis and model development, Prometeia is a global provider of consulting services and software solutions focused on Risk & Performance Management. With over 600 industry experts, we serve over 200 financial institutions in 20 different countries, through a consolidated network of foreign branches and subsidiaries located in Europe, Africa and Middle East.