Meet Yusi: Basel IV Expert joins Probability

We are excited to introduce Yusi. With over a decade of experience in the financial sector, Yusi is prepared to lead our regulatory service line, bringing a wealth of knowledge and expertise to our team.

10+ Years in Bank Regulatory Compliance: From Basel III to IV

Early Career: Foundations in Liquidity Risk

Yusi’s career began at FMO, a Dutch development bank, where she initially focused on regulatory assessment and liquidity risk management. Reflecting on her early career, she said, “Actually, my first job is already related to all the regulatory assessments and mainly focused on the liquidity risk areas.” This foundational experience set the stage for her extensive career in regulatory frameworks.

Seven Years at Global Firm: Mastering Prudential Regulations

Following her role at the development bank, Yusi spent seven years at EY, a major consulting firm, where she specialized in banking prudential regulations and compliance. “I was in the team of financial risk management, where I mainly focused on the banking prudential regulations and regulatory reporting and compliance.” Her expertise spans a wide range of topics, including conducting gap assessments and implementation under new Basel requirements, and helping banks with internal risk management assessments and regulatory reporting.

Why Probability? A Culture of Innovation & Support

Yusi’s decision to join Probability was driven by the company’s strong emphasis on people and its supportive work environment. “After the chats with the team, I feel like Probability is really people-focused. People are at the heart of the culture of the company.” This people-centric approach, coupled with the company’s flat hierarchy, resonated deeply with her.

She appreciates the entrepreneurial spirit within Probability, where quick decision-making and innovation are highly encouraged. “The organization is really flat. Everybody is so friendly and easy to approach. Ideas are quickly shared and you’re encouraged to put them into action.” This environment is particularly advantageous to her proactive and problem-solving work style.

Launching: Banking Regulatory & Compliance Services

At Probability, Yusi will take on the role of senior risk consultant, where she will support the development of the regulatory service line. Her extensive regulatory knowledge will be crucial in providing comprehensive services to clients.

Capital Management & Risk-Sensitive Assessments

“In the banking sector, we focus on prudential regulations driven by the Basel framework and its implementation within the EU legislative context. This includes topics like capital management, liquidity risk assessment, internal risk management components such as ICAAP and ILAAP, and regulatory reporting and disclosure requirements” By covering these critical areas, the service line provides a comprehensive suite of solutions for banks navigating complex regulatory landscapes.

ICAAP & ILAAP: Strengthening Internal Practices

Yusi emphasizes the importance of integrating regulatory expertise with technical skills. “The combination of the broader overview and the expert views can really be a good approach or solution we are able to deliver.” This holistic approach enables us to stay up-to-date with the latest regulatory developments while offering deep insights, interpretations, and practical strategies for implementation. It will be a cornerstone of the service line, ensuring clients receive thorough and effective support.

Yusi Wang

Yusi Wang

Senior Risk Management Consultant

Industry Insights: Navigating Stricter Basel Frameworks

Evolution from Basel III to IV

Yusi highlights the dynamic nature of banking regulations and the challenges they present. “After ten years of working in this sector, I’ve really seen how the regulations have evolved from time to time. I started with Basel III, but now I’m working on Basel IV.” This evolution of regulations keeps the field dynamic and challenging.

Impact of EU Banking Package 2021

She points to the significant impact of new regulatory frameworks like the EU Banking Package 2021 on banks. “At the EU level, it is called the EU Banking Package 2021(CRR3/CRD6). It introduces a lot of detailed requirements for capital requirements and also best practices for risk management and governance. The EBA has published its Roadmap for implementing the EU Banking Package, outlining over 100 regulatory mandates, including Regulatory Technical Standards (RTS), Implementing Technical Standards (ITS), and Guidelines. The majority of these are to be developed within three years starting from January 1, 2025. We have observed that the EBA has advanced the publication of some regulatory products to enable banks to prepare for the new requirements in a timely manner.” These changes require banks to adapt continuously, demanding not only compliance but also strategic adjustments to business models.

Granular Assessments: The New Norm

The industry is facing increasing pressure to implement more granular and risk-sensitive assessments. “The new rules are getting more strict and more risk sensitive, which means that banks should perform more granular assessments. Understand, what does it mean to them? How does it impact their capital requirements, and what does it mean for their business?” These questions highlight the critical need for banks to integrate regulatory compliance with their overall strategic planning.

Passion for Regulatory Work

Yusi’s passion for regulatory work is evident in her enthusiasm for continuous learning and client collaboration. “I like to learn new things. I also want to think along with the client. I also want to know what’s going to happen.” Her drive to stay ahead of regulatory changes and her desire to understand client needs deeply fuels her work.

She also enjoys the diversity of experiences that consulting brings. “Being a consultant, you have really good insight into what’s happening not only at one bank but you have a broader knowledge of what’s happening in the industry.” This broad perspective allows her to provide valuable insights and solutions to her clients.

Looking Forward: Schedule Your Basel IV Readiness Assessment

With her extensive experience and passion for regulatory frameworks, Yusi is an ideal fit for Probability. Her commitment to continuous learning, client collaboration, and innovative thinking will drive the success of our regulatory service line. “My ideas are very supported by the leadership. That’s something that motivates me and wakes me up.”

We are confident that Yusi’s contributions will significantly impact the banking sector. Her role at Probability will not only enhance our service offerings but also ensure that we remain at the forefront of regulatory consulting. Contact us today to schedule your Basel IV readiness assessment and see how Yusi and our team can help you navigate the evolving regulatory landscape.