Case studies

J. Safra Sarasin Group

Using advanced reporting and data analytics to provide added value

J. Safra Sarasin Group, with Bank J. Safra Sarasin as its principal banking subsidiary, continues to play an active role in the ongoing industry consolidation in the Swiss financial market. The Group recently integrated the Morgan Stanley Swiss Private Banking Business, acquired Bank Leumi Luxembourg’s Private Banking operations and signed an agreement to acquire Credit Suisse (Monaco) S.A.M. and Credit Suisse (Gibraltar) Ltd.

Ongoing industry consolidation but also financial market volatility, regulatory complexity, margin pressures, and the unexpected decision of the Swiss National Bank to de-peg the Swiss Franc from the Euro, exacerbated the notable challenges in the business environment.

Deloitte in Switzerland, as auditor of J. Safra Sarasin Group, has established innovative and technology empowered means of communication with component auditors and reporting to Group management. This allowed us to receive consistent information, provide insightful benchmarking information and deliver advanced audit reporting that supported Group functions, the Audit Committee and the regulator in their assessment of the Group’s consolidated supervision.

Insight was also fostered thanks to our newly introduced data analytics approach in the area of client risk rating management. This initiative will be further developed for the 2016 year-end audit and positions us at the forefront of audit innovation with a delivery that challenges and adds value.

It is during challenging conditions that the true worth of an organisation becomes evident. Deloitte has shown the attributes required to master change and shape the audit of the future.

— Ilan Hayim, Chairman, Bank J. Safra Sarasin Ltd

This client story is from the Deloitte Switzerland Annual Review 2016

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