Home > Risk Consulting > Success Stories > Working Alongside the Multinational Financial Subsidiary of a Major Industrial Company – Part I  
   
 

A major multinational industrial firm became aware of serious deficiencies within one of its European finance subsidiaries. It was concerned (with reason, as was later discovered) that the magnitude of the problem might extend beyond outdated procedures and insufficient profitability to the quality of the portfolio itself.

Genesis was called in by the company's head office to perform a portfolio review and business audit. The portfolio review examined – statistically and by sample selection – the various sub-portfolios, comparing them to one another as well as evaluating them against external yardsticks. The business audit studied company policies and procedures, and reviewed the adequacy of personnel.

The study and its recommendations resulted in a total restructuring of the finance subsidiary. Genesis collaborated extensively in this effort over a period of four years by:

Assisting on the credit process
Advising on the pricing structure for the various sub-portfolios
Providing training and mentoring programs for staff
Carrying out executive selection for top managerial and middle-level staff
Performing occasional business reviews
Conducting elaborate benchmarking studies
 
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