WNS - World Networking Services

WNS compliance consultants provide in-depth consultation drawing upon extensive industry and sector specific knowledge to assist clients in identifying, measuring, and managing operational and technology-related risks faced within their industries and throughout their systems and processes. WNS are experienced suppliers of full spectrum internal audit services, technologies, and skills for business risk management and the continual transformation of internal audit functions.

WNS commands a leading position in providing finance and IT specialists within compliance, risk, audit and regulatory accountancy effecting both permanent and temporary staffing solutions to niche project and client requirements. Our Global presence and robust relationship within both Practice and highly prestigious Blue chip & Financial Services gives us an edge in the industry.

WNS has proven track record in delivery of audit solutions across Industry and Financial Services within the US, Europe and further-a-field. We are experts in the provision of both permanent and temporary; Senior Audit & IT Audit Managers, Internal Auditors, IT Auditors, Qualified IFRS and IAS Accountants matching experience, sector background and inter-personal requirements to agreed location, budget and time frame.

Basel II
IFRS

WNS was a leader in recognizing that Basel II Accord would be leading the next Genre of compliance reporting and credit risk Management.Basel II or to use is full name “International Convergence of Capital Measurement and Capital Standards” defines operational risk as “the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events”. This definition explicitly includes legal risk but excludes strategic and reputational risk.

Basel II implementation also emphasizes about the importance for having master data, metadata, and reference data strategies and tools. Another interesting discussion regarded the benefits of developing a robust semantic layer that has been incorporated by WNS as shown below.

WNS has successfully provided solutions and implemented projects in the Basel II arena at various clients across the globe. Our professional services division has constantly maintained a roster of such professionals whose services we continually provide to our clients and implementation partners. Our impressive roster includes Basel II project managers, as well as IT and finance consultants to ensure successful compliance with Basel II. We have helped companies hire Risk Managers and Compliance Accountants, Technology leads and various other officers to abide by the Basel II Accord deadlines and guidelines.

International Financial Reporting Standards (IFRS) is how most of the banks prefer to talk or educate their investors and stake holders about corporate performance.

All major US banks and Financial Institution are following suite with their European and Asian counter parts in making a transition to IFRS. The government and the SEC are also making an effort towards the same.
http://www.404.gov/rules/proposed/2008/33-8982fr.pdf

The turmoil in financial markets that resulted from the 2007 subprime mortgage crisis in the United States and the World over indicates the need to dramatically transform regulation and supervision of financial institutions. The United States is working towards a makeshift from the GAAP to IFRS to avoid any further financial reporting inefficiency to prevent the discrepancy and non transparent reporting of Banks and financial institutions. This enhances the maintenance of financial adequacy and assures the investors of better governance and optimum performance by the money managers. Successful IFRS transition involves significant projects for companies that will affect the entire reporting process and may result in changes to accounting systems.

WNS understands this to be its most suitable opportunity considering the expertise in financial recruitment and industry exposure for over a decade. WNS takes pride in extending our existing recruitment expertise within this arena in compliance reporting and risk management for the financial industry.

Our compliance consultants provide market specific explanations of the financial impact of moving to reporting under IFRS. We provide specialist IFRS consultants, with hands-on expertise of the financial industry spanned across continents and countries, designated to specific client and project briefs; they develop IFRS valuation methodology for financial contracts, value financial instruments and embedded derivatives within financial services or coordinate the entire IFRS conversion starting from implementation through to delivery.