Operational Audit and Restructuring Implementation – Casa de Economii si Consemnatiuni (CEC Bank)
ING IGA (now Financial Access) has been retained by CEC Bank, which was the largest bank in Romania in term of Branch Network and number of personnel, to:
- Execute a full Operational Audit (including a due diligence study and a feasibility plan for a possible future privatisation of CEC) of the Casa de Economii si Consemnatiuni in Romania.
- Assist management and staff of CEC in developing and implementing a restructuring program for the bank. The restructuring work would make the bank “ready for privatisation”.
The main tasks to be performed are:
- Strategy Development and improvement of marketing activities\
- Restructure the Bank’s head office and branch network
- Improve Credit and Market Risk Management
- Improve Financial Management and MIS
- Develop a new IT infrastructure