Sectors and specialisms:
Global business services

The view from... Nick Palamaras ACCA
Senior manager, capital management and liquidity risk expert, Cognizant Technology Solutions

I work with clients across the investment and corporate banking sector. We assess and design client processes, policies and controls around regulatory rules by analysing current and proposed regulatory change. We also provide advice on the interpretation of the rules to senior management.

Our banking and financial services consulting team worldwide consists of more than 1,000 consultants, and I am part of the risk and compliance team in Europe. I am currently helping a global investment bank to meet its minimum regulatory capital ratios, required by Basel III and the Comprehensive Capital Analysis and Review. 

As regulatory requirements increase, it is imperative that investment banks embed an effective risk management model in their risk strategy in order to respond to new regulations and challenges. Cognizant helps clients to respond more quickly and at a competitive cost in today’s complex investment banking environment.

The most significant impact has been the introduction of new liquidity risk regulatory reporting standards under Basel III. In particular, the liquidity coverage ratio and net stable funding ratio focus on strengthening global liquidity standards and improving the banking sector’s ability to absorb shocks arising from financial and economic stress. 

The ACCA Qualification has proved invaluable. Its broad nature gives you the bigger picture. The knowledge I have gained helps me put things into context and provides added value for clients. I started studying while working for Citibank. After passing one paper, I took a break and was fortunate when I moved to PwC; the firm sponsored the remainder of my studies.

The move from Athens to London initially proved challenging, but I now prefer working in London. Greece has faced particular challenges with its economy. Working in my home country gave me a range of skills that proved beneficial when I moved to the UK. Here, I work with some of the largest investment banks in the world and together we are striving to improve the outlook for banks.

With a constantly changing regulatory landscape CPD is important. I am currently studying for my financial risk management qualification, which takes one year. My other focus is on understanding the new IFRS standards, and I attend ACCA’s CPD events to learn about these.