Banking Accounting
The challenge
Banking accounting has become a strained meeting point between accounting standards (IFRS, French GAAP) and prudential requirements (Basel, BCBS 239, ICAAP). The two frameworks measure the same economic reality, but through different lenses — and the gaps between them have become an engagement topic in their own right.
A modern banking accounting function must be able to produce financial statements compliant with the standards, prudential indicators aligned with regulatory requirements, and — this is the critical point — demonstrate the consistency between the two. Gaps that are not explained become supervisor questions. Questions that don't get a quick answer become reputational risks.
Our Approach
OMOTE Advisory supports the finance departments of banks on accounting, consolidation, and accounting-to-prudential consistency.
Our angle is firmly business-driven: we work alongside management controllers, accountants, consolidation teams, and risk functions, in a logic of integration. The goal isn't to produce numbers — it's to produce numbers that are reconciled, traceable, and defensible.
Areas of focus
Accounting standards — IFRS 9 and application
Implementation, calibration of ECL models, alignment with prudential models, handling of edge cases and Level 2 / Level 3 assets. Application of other relevant IFRS standards and local accounting frameworks in banking. Analysis of accounting treatments and drafting of accounting memos for new products and complex transactions. Monitoring of regulatory developments and training of internal teams on new standards and related tools.
Common Reporting (COREP), Financial Reporting (FINREP), production and oversight of quarterly and annual closings, alignment with supervisors and statutory auditors.
Banking consolidation
Processes, scope, restatements, data submission quality, intra-group consistency controls. Multi-entity, multi-jurisdictional and multi-currency consolidation, including scope changes (acquisitions, divestments, mergers). Integration and harmonization of financial data for the production of consolidated statements compliant with applicable frameworks.
Process optimization and performance monitoring
Diagnosis and redesign of accounting production chains, automation of recurring tasks to reduce errors and improve efficiency. Monitoring and analysis of accounting performance — productivity, quality, closing timelines — with periodic reporting to identify areas for improvement.
Metric consistency
Gap analysis between regulatory and accounting metrics, justification of differences, reconciliation frameworks, documentation for supervisory dialogue. Implementation and maintenance of audit files to ensure traceability and control.
Accounting operations
Banking bookkeeping — precise management of journal entries, financial flows and reconciliations, in line with applicable standards and internal control requirements.