Restructuring of ten banks within the Bank Sector Reform Project supported by the National Bank of Ukraine and European Union. Kiev, Odessa, Donetsk, Ukraine, 2004-2007.
The project was carried out together with the international consultants of the ING Institutional & Government Advisory Services, the Netherlands, within the framework of the European Union project and with the support of the National Bank of Ukraine.
During the project a restructuring of the main management areas of ten Ukrainian banks was carried out. We have advised board members, senior and middle managers in the fields of:
— Strategic and tactical planning;
— Restructuring of the head office and sales network;
— Development and marketing of banking products;
— Liquidity risk management;
— Credit risk management;
— Building a scoring system for small and medium-sized businesses;
— Management accounting and management information system.
Particular attention was paid to profitability assessment methodology, transfer pricing and cost allocation.
Moreover, we evaluated the quality of the project implementation for the product cost allocation based on the Oracle Performance Analyzer in Ukrsotsbank, today a subsidiary of UniCredit. We advised the Chief Financial Officer regarding the organization of the UAT for transfer pricing calculation and product cost allocation algorithms.
In addition, we have developed the National Bank regulations in the field of management accounting. Our consultants worked with the chief accountant and methodological unit of the National Bank of Ukraine to develop management accounting principles and standards for Ukrainian banks.
As a result, the NBU regulation “Methodological recommendations for management accounting in banks” was prepared and published in the official bulletin of the National Bank of Ukraine. It was also approved by the Ministry of Justice as banking regulation in September 2007 (Decision of the NBU No. 324, September 6, 2007).