Quadrant reports Man Financial risk services contract

Source: Quadrant

Today, 8th March 2007 Quadrant announce that the Risk Consulting Division of Quadrant Risk Management International is providing consulting and advisory services to Man Group plc.

The scope covers various aspects of Governance, Risk and Compliance for the Man Group in its brokerage division, Man Financial.

At the end of 2005, Man Group asked Quadrant to assist in developing a Corporate Responsibility programme. This involved the creation of a Corporate Responsibility Manual, a dedicated Corporate Responsibility website and writing a detailed Corporate Responsibility Report which was launched at Man Group plc's AGM on 11 July 2006.

Subsequently Man Financial, the brokerage division of Man Group and one of the world's largest futures brokers, asked Quadrant to assist with a comprehensive review and revision of its Compliance policy and architecture for the UK operations. This work is being undertaken across the range of regulatory change currently impacting in the UK, including MiFID, MAD, AML, TCF and the related FSA Handbook changes. The resulting Compliance Programme includes Compliance Policy, Compliance Process Manual, Compliance Assurance Framework, and Compliance Assurance Infrastructure. The Compliance Programme is an extended project of one year's duration. Towards the end of 2006, Man Financial asked Quadrant to review and re-draft its Risk Policy for their UK operations. This work is being undertaken to ensure Man Financial's unique set of businesses comply with the Pillar II requirements of the CRD under Basel II.

Paul Lockyear, founder of Quadrant and COO says, "We are delighted to be continuing our relationship with Man Group with this project which is a major undertaking of significant importance for both Quadrant and Man Financial."

Richard Seaman, Director of Compliance for Man Financial says, "We appreciate the detailed practical risk and compliance advice we gain from working with Quadrant, who bring their extensive experience of pragmatic policy formulation and apply it to the specific strategic context of the current priorities for our unique set of businesses."

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