DM Financial is a financial services provider specialising in reporting, consulting, internal audit and compliance services for asset managers, investment funds and financial institutions.
‘We take the burden off our clients: ensuring they are ready for upcoming changes in time.’
’We take the burden off our clients. Organisations must continuously stay up to date with the latest developments, including all the nuances and intricacies,’ explain Martin Stravers, Richard Frehé and Roger van den Berg, all members of the management team of the Dutch offices. From seven locations worldwide, including Luxembourg, Ireland, Singapore and the Cayman Islands, DM Financial supports its clients in navigating complex regulations and supervisory requirements. The Dutch business consists of three core services: financial & regulatory reporting (Roger), internal audit & ISAE assurance (Martin) and regulatory consulting (Richard). ’By combining our global network with deep local market expertise, we provide tailored support for both international and local requirements.
Digital Operational Resilience Act Richard:
’We are an efficient, sector-specific alternative to the Big Four and the large advisory firms on Amsterdam’s Zuidas. However, our services are much more strongly built around specialist knowledge and expertise within the asset management sector, supported by a global network. Clients want peace of mind, insight into how their peers operate and access to best practices. That is where we make the difference.’ Martin adds: ’Through consulting and internal audit & ISAE assurance, we help organisations design, test and improve processes. We also play a role in accountability. Richard’s and my work focuses on helping organisations structure their operations effectively.’ The financial services sector is evolving rapidly. DM Financial’s team combines technical expertise with practical support in implementing regulatory requirements. Richard: ’We solve the issues our clients struggle with. We help them meet specific requirements while taking into account the proportionality of their organisation.’ Financial institutions must comply with an increasing number of rules relating to governance, transparency, operational resilience, digitalisation, AI and compliance. One example is the Digital Operational Resilience Act (DORA), which requires financial institutions to comply with strict rules regarding ICT risk management and digital resilience. ’For example, we recently saw the Dutch Authority for the Financial Markets (AFM) exploring how organisations deal with a “no IT scenario”. What happens if all screens suddenly go blue and you no longer have access to your digital resources?’ Richard explains. ’How can you still fulfil your promise to clients and ensure that their assets and data remain secure?’
This is not only about the measures organisations take themselves, but especially about the suppliers they rely on to manage their operations. ’The recent Joint ESA report on DORA shows that nearly 30% of ICT incidents originate from a third party – and that is precisely where many organisations have a blind spot. You need to map your entire infrastructure and reassess it periodically. Martin sees a major difference compared to the pre-DORA era. ’The sector has made significant progress. Organisations are now looking at risks through the lens of DORA: how vulnerable are we? What are our crown jewels? And how should we protect them?’ DORA reporting requirements are highly detailed, involving a substantial number of data points. Martin also sees a downside. ’The AFM has made it an explicit part of the licensing process. As a result, the threshold for smaller or start-up firms has increased.’
Staying ahead of the curve
DM Financial is driven by “staying ahead of the curve”, Roger explains. ‘We relieve our clients of the burden. Whether it concerns new reporting obligations, licensing requirements or operational risks, we make sure they are prepared well in advance.’
