Our Services · Financial Risk Management

Financial risk management that connects to the business decision

Scenario analysis, liquidity, working capital, VaR, CFaR, credit rating advisory and treasury transfer pricing — for corporates and financial institutions, delivered by people who have run the numbers in the boardroom, not just in the back office.

Capabilities

The full risk and finance lifecycle

Quantitative risk, working capital, credit rating advisory and intercompany transfer pricing — under one practitioner-led roof. Methodology that is auditable, explainable and tied to the underlying business model.

Scenario Analysis & Stress Testing

Multi-factor scenarios across FX, interest rates, commodities and credit. Reverse stress tests that work back from the loss the board cannot tolerate, not forward from comfortable assumptions.

Liquidity Risk

Liquidity risk frameworks for corporates and banks — funding gap analysis, contingency funding plans, intraday liquidity, LCR / NSFR for regulated entities and stress liquidity for the rest.

Working Capital Management

Cash conversion cycle optimisation across receivables, payables and inventory. Supply chain finance design, dynamic discounting and the working capital impact of payment terms negotiation.

Value at Risk (VaR)

Parametric, historical and Monte Carlo VaR across treasury portfolios. Daily P&L attribution, backtesting, model validation and the disclosures supervisors and audit committees actually read.

Cash Flow at Risk (CFaR)

Forward-looking CFaR for corporate exposures across commodities, FX and rates. EBITDA distribution analysis, hedge optimisation and the level-of-cover policy that follows from it.

Corporate Credit Rating Advisory

Rating agency strategy and methodology mapping for S&P, Moody's and Fitch. Pro-forma rating impact of M&A, dividend and capital structure decisions; rating defence narrative for the next surveillance review.

Intercompany Transfer Pricing

Transfer pricing for treasury — intercompany loans, cash pools, guarantees and hedging recharges. Comparability analysis, OECD Chapter X alignment and BEPS-compliant documentation that survives a tax authority challenge.

Independent Valuations & XVA

Independent fair value across all asset classes, powered by UnRisk. CVA, DVA and FVA under ASC 820 / IFRS 13 with explainable methodology and audit-ready evidence.

Who we work with

Corporates and banks — same discipline, different lens

Corporates

From treasury risk to enterprise risk

We connect treasury risk metrics — VaR, CFaR, liquidity and funding gaps — to the business decisions that move them. Capex timing, M&A funding, dividend policy, credit rating headroom. Risk numbers that the CFO and the board can actually act on.

Integrated CFaR across commodities, FX and rates
Working capital and supply chain finance design
Liquidity stress testing and contingency funding plans
Credit rating defence and pro-forma analysis
Hedge policy design and level-of-cover frameworks

Banks & Financial Institutions

Trading book, banking book, audit-ready

Risk frameworks that hold up under regulatory scrutiny and exec challenge. We work the trading book, the banking book and the increasingly important asset-liability profile of digital asset balances. Methodology that explains itself, not just numbers in a spreadsheet.

VaR, expected shortfall and FRTB-aligned methodology
ALM and IRRBB (EVE / NII) under EBA / Basel guidance
LCR and NSFR liquidity coverage and stress testing
XVA framework design and validation
Independent model validation and model risk governance

Working Capital

The cheapest funding the business has

Working capital is treasury's largest unsecured funding line, and the one most often left on the table. We design the cash conversion cycle improvements that move the dial without breaking commercial relationships.

Receivables financing and dynamic discounting on the asset side. Supply chain finance and payable term extensions on the liability side. Inventory and payment-term policy in the middle. Every lever modelled against the cost of alternative funding so the trade-off is explicit.

Treasury Transfer Pricing

Intercompany flows that survive a challenge

Intercompany loans, cash pool interest, guarantee fees and hedge recharges all sit at the intersection of treasury and tax. OECD Chapter X put treasury squarely on the transfer pricing map, and tax authorities are now asking specific questions about each.

We design the methodology, build the comparability analysis, and produce the documentation that holds up under audit — covering credit-rating-derived interest rates, implicit support adjustments, cash pool benefit allocation and the BEPS Action 4 interest deductibility tests.

Hedge Optimisation

The efficient frontier of risk and cost

Every possible hedge portfolio sits somewhere on a trade-off between Cash Flow at Risk and Earnings at Risk. Most corporates are hedging above the frontier — paying more earnings volatility than they need to for the CFaR they are achieving.

The power is not the number. It is being able to show the board where today's hedge sits, where the optimal portfolio sits, and what combination of instruments moves you there. Decisions that were once opinion become quantified.

Earnings at Risk (millions)