Monticello Consulting Group is a trusted management consulting firm advising clients in the global financial services industry, partnering with them to achieve their vision of excellence.
Welcome to Monticello Consulting Group
Headquartered in New York City, Monticello Consulting Group offers a combination of expertise and proven methodology to drive meaningful bottom-line results for your strategic initiatives. Recognizing that there is no single approach to address the complex issues facing business leaders today, Monticello Consulting will partner with your team to implement solutions that are optimal for your business and to your stakeholders. While working together, we will formulate an engagement which considers your organization’s culture and available resources. This approach, combined with our delivery model of assembling a high-impact project team, will yield unparalleled success for your organization and is what differentiates Monticello Consulting Group from other advisory firms in the marketplace.
LATEST MONTICELLO NEWS
LATEST MONTICELLO CASE STUDIES
Machine learning (ML) has increasingly been delivering value for large financial institutions as they invest in the technology to attract new customers and streamline operations. Recent advances in the technology underpinning artificial intelligence (AI) have enabled financial institutions to explore the application of ML techniques in their client facing operations.
The Securities and Exchange Commission (SEC) ordered the creation of the Consolidated Audit Trail (CAT) in 2012 after regulators realized that they did not have enough market data to explain the Flash Crash that occurred in May 2010. CAT addresses the audit trail of all transactions, providing information and checks and balances for market activity. In fact, CAT greatly expands on the requirements of the Order Audit Trail System (OATS) regulation, which was adopted in 1998.
The current RegTech landscape spans the technological spectrum from static data processing and reporting solutions to dynamic real-time transaction monitoring platforms. RegTech companies utilize emerging technologies such as machine learning, data analytics, artificial intelligence, cloud computing, biometrics, blockchain, cryptography, and many others to deliver solutions that enable faster, more accurate, and less labor-intensive compliance for various financial regulatory regimes.
Following the collapse of Lehman Brothers in 2008, the Dodd-Frank Act granted the FDIC Orderly Liquidation Authority (OLA) powers to serve as the receiver of a complex financial institution and prevent counterparties from terminating Qualified Financial Contracts (QFCs) with the firm. This paper examines some of the specific reporting rules put in place to enable a rapid reconciliation of QFCs under the OLA.
One of the largest areas of regulatory growth since the financial crisis has been in the area of Non-Financial Regulatory Reporting (NFRR). Three key challenges for firms going forward will be: coordinating NFRR efforts across the firm, establishing robust data governance, and managing reporting requirements that vary across time and jurisdictions.
Records retention strategies for Wall Street broker-dealers are being challenged by existing and new regulations that require an increasingly large amount of complex transactional data to be stored for longer periods. Helping to meet this challenge are new technologies that can reduce the total cost of ownership while meeting the requirements of the law.