China Development Bank, established in 1994, is a state-funded and state-owned development finance institution operating as an independent legal entity under the direct leadership of the State Council. China Development Bank is dedicated to supporting China’s economic development in key industries and underdeveloped sectors. China Development Bank has a registered capital of RMB 421.248 billion. It aligns its business focus with China’s major medium- to long-term economic and social development strategies by leveraging its unrivalled position as a leading bank for medium- and long-term financing and comprehensive financial services.
In 2018 we ran a programme with China Development Bank during which we convened and moderated a high-profile panel session at Canary Wharf, London, attended by the Chairman of Barclays, former Chairman of HSBC, Chairman of Deloitte UK, Chairman of Financial Services at Thomson Reuters, Chairman of KPMG UK and London Stock Exchange Group to discuss how London’s financial and professional services sector can further support the Belt & Road Initiative.
Design
The aims of the programme were to give leaders at the bank a deeper analysis of the emerging trends in the financial services industry under the current international political and economic environment, with a particular focus on risk management and the impact of digitalisation. The leadership team wanted to better understand the product risk management mechanism of European global financial institutions, in order to benchmark them with the risk management framework in China. We worked with the group to study the structural risk management of large financial conglomerate organisations, in particular, the risk strategy alignment between headquarters and subsidiaries. We completed exercises to identify the benefits and challenges in risk control within the context of large scale business operations across the globe.
Impact
The programme helped establish practical measures to enhance the Compliance management in large financial conglomerates with the aim to mitigate risk and avoid regulatory oversight and enabled the group to build a robust risk culture in China Development Bank by enhancing relevant industry intelligence and effective application of data and digital technologies.