Enhancing Internal Governance at LocalTapiola Asset Management Group

Background

LocalTapiola Asset Management Group (consisting of three FIN-FSA regulated companies: Asset Management Company, Fund Management Company, and Alternative Investment Fund Management Company) is a prominent financial services provider in Finland, specialising in asset management services for private individuals and institutional clients. To ensure robust internal governance practices and compliance with regulatory standards, LocalTapiola Asset Management Group sought the expertise of Advisense to conduct a comprehensive internal governance assessment.

Advisense was selected to evaluate the internal governance framework, policies, and practices within LocalTapiola Asset Management Group. The objective was to identify strengths and areas for improvement, and provide actionable recommendations to strengthen governance structures and enhance regulatory compliance.

Challenge

The assessment aimed to give LocalTapiola Asset Management Group a clear view of its current internal governance practices and to identify strengths as well as possible gaps or weaknesses. This included evaluating the effectiveness of the internal governance framework, the adequacy of policies and procedures, and compliance with regulatory requirements. The assessment required in-depth knowledge of internal governance standards, regulatory expectations, and best practices in the industry.

Solution

Advisense assembled a team of governance and compliance experts to conduct a thorough assessment of LocalTapiola Asset Management Group’s internal governance practices. The project involved:

• Framework Evaluation: Reviewing the existing internal governance framework, including the roles and responsibilities of the board and management
• Policy and Procedure Assessment: Analysing the policies and procedures in place to ensure they align with best practices and regulatory requirements
• Compliance Review: Assessing the organisation’s compliance with applicable regulations and identifying areas for improvement
• Stakeholder Interviews: Conducting interviews with key stakeholders to gather insights into the governance practices and identify any issues or concerns

Result

The assessment provided LocalTapiola Asset Management Group with a detailed understanding of their internal governance practices, strengths and identified specific areas for improvement. Advisense’s recommendations helped LocalTapiola Asset Management Group enhance their internal governance framework, ensuring better alignment with regulatory standards and industry best practices.

The internal governance assessment conducted by Advisense was thorough, smooth and insightful. The team’s expertise and professional approach provided us with valuable recommendations to strengthen our internal governance practices. The assessment has been instrumental in helping us align with regulatory standards and improve our overall governance framework.

Samu Anttila, CEO of LocalTapiola Asset Management Group

“Effective internal governance is crucial in the asset management industry, where regulatory standards are stringent and continuously evolving. Our goal was to provide LocalTapiola Asset Management Group with a clear and actionable assessment that would enhance their governance practices and ensure compliance. We are pleased that our work has contributed to their ongoing success.”

Klaus Hannus, Head of Capital Markets & Financial Crime Prevention, Advisense Finland

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