Tel: +49 211 826 3039
The Profit Center Finance / Data has an organisational set-up following both geographical and functional lines with customer officers-in Germany, New York and London.
This organisational structure helps to guarantee fulfilling especially all accounting-related requirements at international locations.
Finance / Data includes six teams:
The range of activities embraces all services from financial accounting, implementation of complex transformations to drawing up annual accounts. The portfolio of services offered also includes setting up a consistent finance platform (also covering regulatory reporting) including various components. Our IT specialists can support your business processes, adapt your system architecture to changing internal and external requirements and continuously work on further improving the entire finance platform.
Expertise in creating robust solutions for accounting and reporting: Close cooperation of Finance and IT-experts allows tailor-made solutions for challenges our clients face. In line with what our customers need Finance / Data provides parts or the whole range of the process steps: analysis of requirements, business concept, IT concept, implementation, tests and documentation. Furthermore daily production can be supported. To give an example EFS developed the system PCR-NG supporting a daily front office independent P&L reconciliation.
Practical expertise in reorganization and migration processes:
Professional skills in the field of bank accounting: As former finance department and now as servicer of financial institutions Finance / Data has professional knowledge in HGB and IFRS-accounting of a wide range of bank products including complex structures. Based on this know how the experts are in a position to specify the accounting of new customer-specific products.
Wide SAP know how with fully integrated data landscape: The IT experts of Finance / Data are used to customize and operate huge SAP FI installations including supplementary modules in a fully integrated landscape. Close cooperation between SAP and WestLB / EFS (e.g. development partnerships) has been in place for several years. This know how enables EFS to support SAP implementation projects and to develop efficient customer-specific solutions.
Using the wide range of internal know how from business analyst to database engineer Finance / Data can provide the whole range of services:
Integrated reporting solutions will become ever more important with regard to legal and economic requirements
Legal requirements (e.g. BCBS239) will force financial institutions to provide an integrated reporting: National and international regulatory authorities as well as auditors demand consistent reports. The numerous reports of different business units (e.g. Finance, Risk, Regulatory and Controlling) should be based on one golden source. Lots of financial institutions face the challenge of massive additional requirements while personnel resources remain constrained and cost budgets low.
To master these challenges Finance / Data can offer: