Financial Institutions

The finance industry is currently going through one of the most challenging times in history. Most financial institutions need to tackle a host of issues that include market uncertainty, write downs, drying up of funds, falling demand for products and services and falling equity values. To cope with this downturn and sustain themselves, these organizations need to develop a more proactive, systematic and integrated approach to governance and risk management and explore opportunities to transform their business models. They should aim at making technology convergence more palpable and gain trust from all people interested in their company.

In order to meet these challenges, it has become necessary for financial institutions to review processes for mitigation of risks while increasing performance. Stakeholders, including regulators, shareholders and customers, expect rigorous standards to be upheld. In addition, intensifying competition is driving boards and management teams to reassess their service provider relationships.

Crowe Oman has gained wide recognition for services designed to meet the risk management and performance needs of financial institutions. Our industry specialists practice within the following Centers of Excellence:

Assurance

Among the nation’s leading audit firms for financial institutions, our audit clients range from community institutions to some of the nation’s 100 largest institutions. Our audit process relies on industry knowledge, an integrated internal control and financial statement process, electronic means of delivery and strong project management.

Risk Management

Crowe Oman assesses key business risks unique to your financial institution and the industry and assists in implementing risk management strategies for improved performance. We help identify, monitor and report risk management strategies effectiveness, with proven processes and methodologies that meet with the demands of your stakeholders.

Performance Improvement

Beginning by understanding your unique business needs, we apply our experience in understanding the business model of financial service companies to create a solution that meets with your needs. The best solutions not only improve business processes, but reduce the risks to the organization. We assess and implement those solutions through a blended, integrated team that collaborates to solve your business problems. Once the project is complete, our approach ensures successful knowledge transfer to make sure sustainable long-term benefits are achieved.

Tax

We provide tax compliance and tax planning services to help financial institutions minimize unnecessary tax burdens. We provide federal, state, local and international tax service on either a consultative or outsourcing basis.

Crowe Oman is setting new standards of excellence in assurance, risk management, performance improvement services and tax.

We are well exposed to Islamic finance providing assurance services to a large group engaged in finance and investment using Sharia compliant products and services.