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Index Deloitte Capital Markets
Deloitte’s Capital Markets team is specialised in
3 Deloitte Capital Markets helping our clients in better understanding the risks
and opportunities related to their business within
4 Industry Wide Experience capital markets. Our team consists of experienced
professionals who gained their experience in working
5 Our Service Offering in your market. These professionals will be working
with you to advise and help building more efficient and
6 Selection of experience and credentials better frameworks to cope with this challenge.
8 Our experience in your industry
9 Deloitte Research
10 A team you can count on
We help our clients to make more efficient use of their
11 Capital Markets Team Netherlands business within capital markets while managing the
risks in a more efficient way. Today’s capital markets
are complex, social dynamic systems in which different
parties interact in investing or raising capital and
exchanging risks. Capital markets are not necessarily
limited to financial markets, but also include commodity
and energy markets. Businesses access these markets
in order to raise funds for capital expenditure and
investments while hedging certain risks that a particular
business does not want to bear. Many corporations
have invested in building a treasury environment in
dealing with the capital markets. At the same time,
financial institutions have the capital markets
as the very heart of their business model serving as
intermediary or end investor.
In order to be successful as a financial institution or
business operating in the capital markets, the ability to
identify, measure and manage the various types of risk
is of key importance. Both investors and shareholders
expect reliable, up-to-date and complete information
on risks occurring in the company, developed based on
adequate qualitative and quantitative indicators and
clear procedures. For the financial services industry,
regulators have raised and are expected to continue to
raise the bar in dealing with risk.
Deloitte Capital Markets Financial Advisory Services 3

Industry Wide Expertise Our Service Offering
Our global network ensures that we can offer Risk Management Model Validation & Development
integrated services to our clients around the world. • Energy and Commodity Risk Managment (ECRM) • Design of model governance framework
Deloitte is one of the largest providers of • Risk management policies, tools and procedures on market risk, • Model validation, development and implementation
Our clients include credit risk, operational and liquidity risk • Pricing, hedging and risk models (e.g. derivatives, structured
• Financial institutions multidisciplinary professional service in • Validation of risk models and procedures credit products, VAR, Economic Capital, RAROC, etc.)
• Treasury departments • Risk mitigation strategies • Economic models (e.g. gas storage models)
• Multinational corporations the fields of audit, tax, consulting and • Design of appropriate capital allocation models and processes • Base II and Solvency II risk model implementation and validation
• Energy and utility companies • Balance sheet management and debt financing • Validation of simulations and back-tests
• Government agencies financial advisory in the world.
• Supranational agencies Treasury Management Valuation Services
• Treasury Management Process design • Valuation, hedging and risk management of complex financial
We advise and help our clients in areas such as • Trading process design and implementation instruments and energy contracts & derivatives
• Cash and Treasury Management • Verification and development of reporting systems • Valuation of structured credits such as notes, CDO, CDO^2
• Financial Risk Management and Capital Allocation • Decision Support Models – Energy Trading models • Valuation of embedded derivatives (IAS39, IFRS2)
• Energy and Commodity Risk Management • Trading & hedging strategies • Valuation and implementation of employee stock option
• Investment Risk • Portfolio Valuation and Risk Management programs (IFRS2)
• Model validation and development • SEPA • Valuation and hedging of power generation and storage assets
• Accounting and audit services • VPP auctions
• Valuation Services Accounting & Audit Services
Investment Management Services • Valuation Services
• Validation of investment processes • SOX process validation
• Risk model validation and development • IAS39, IFRS7, IFRS2 classification and accounting treatment of
• Asset Liability Management and LDI Strategies financial instruments
• Strategy implementation • AO/IC within financial institutions
• Outsourcing of investment services and fiduciary management
• Hedge Fund Risk Management
• Investment product design, structuring and marketing
4 Deloitte Capital Markets Financial Advisory Services 5

Selection of experience
and credentials
Treasury Management Auction Services Accounting and Audit Capital Allocation Investment Services Valuation Services Model Validation & Basel II Model Governance
Design Services Modelling Development
Deloitte has experience in building Deloitte has considerable experience The disclosure requirements and Deloitte has developed several capital Deloitte Capital Markets can perform Deloitte Capital Markets has Deloitte can assist clients in Deloitte performs model life cycle
treasury management systems for in implementing, designing and classification of financial instruments allocation structures within large validation of investment- and risk extensive experience and expertise designing, implementing and validations within financial institution
corporations, financial institutions monitoring commodity auctions. have become an integral part of the financial institutions in which the risk management processes, investment in valuation of complex financial validating models for valuation, risk in order to continuously comply
and energy companies. We provide Deloitte can act as project manager audit of the accounting statements management setup, the modelling models, ALM models and investment products such as exotic derivatives, and decision support. Including with the Basel II directives n risk
services in the design and setup of or expert advisor to implement a of any company and/or financial (incl. modelling of complex structured strategies for investment managers, structured credits and employee advice on model governance, management. Similar services are
a treasury operation including book successful auction structure, act as institution. Deloitte offers advice and credits such as CDO’s) and advise on hedge funds, private banks and stock option plans. We can provide validation of simulations and performed within the insurance
structure, credit scoring, advising auction manager and as monitoring assistance in IAS32, IAS39 and IFRS7 proper classification and family offices, pension funds and the valuation or the validation of the back-tests and help in building industry for Solvency II.
on hedging strategies, modelling of trustee. implementations, setup of accounting Benchmarking was performed. fiduciary managers. Also advice on internal valuation models used and tailor-made models e.g. gas storage
financial instruments and risks, IAS39 practices and procedures, providing Deloitte Capital Markets also investment strategies, risk models, advise on the proper accounting and models, reporting models for Input: Basel II model governance
classifications and reporting. VPP auctions. technical accounting support, internal performs validations of risk models, operational process and trading/ classification of these instruments internet stores etc. framework.
Deloitte is monitoring trustee of audit support and assessing the Basel II and Solvency II compliance implementation approach and under IFRS2 and IAS39. Deloitte has developed a model
Setup of treasury management. multiple European VPP auctions accounting and financial reporting tests and advice on capital allocation helping designing and marketing Review of model development governance structure that allows
Deloitte has helped in setting up as a result of our work as project controls. benchmarking (e.g. RAROC investment products. Derivative and structured credit process. senior management to have
treasury management operations, manager and advisor in setting up frameworks). valuation. For a large Dutch financial confidence in the models and the
in-house banking models, improving the structure and processes. IFRS7 and IAS39 implementation. Investment process and risk Deloitte performs 50+ valuation institution, Deloitte has performed risk information they provide. Key
payment efficiency, setup of global Deloitte has assisted in the Capital Allocation and benchmarking. management validation. projects per year covering 5000+ a review of model development, risks have been identified and
FX centres and SEPA strategies. Endesa implementation of IFRS7 and IAS39 Deloitte has advised large financial Deloitte has performed in-depth financial instruments on a yearly usage and control within several specific tests have been developed
Deloitte is an industry leader in Iberdola classification of financial instruments institutions on adapting their risk review of the investment process, basis. Instruments valued included areas such as trading, sales, for the client. The performance
advising on SEPA and has developed RWE for large utility companies and frameworks and benchmarking risk models, operational procedures, CDO’s, CDO^2, basket default swaps, operation, product control and of the models and portfolio is
the SEPA survey that is acknowledged Dong Energy financial institutions. This includes for illiquid investments. We have reporting and people for large swaptions, caps, floors, cliquet model validation. The models were periodically tested and reported to
by the ECB. Konkurrencestyrelsen assistance in making a gap analysis, provided alternative risk adjusted pension funds. options and convertible bonds. used for pricing, hedging and risk the management.
setup of functional requirements, performance measures as well as management. Deloitte developed a
Gemeente Alkmaar tool building, performing users advice on how to structure the Bestuur Regio Utrecht KLM prototype model to be used for the Rabobank
GVB acceptance testing, training and capital allocation process and Stichting Pensioenfonds Hoogovens ABN AMRO most complex structured products Leaseplan
Lost Boys providing IFRS7 disclosures in the risk implementation in a better way. BPF Bouwinvest Essent the client was trading.
Bridgestone reports and annual report. ABN AMRO Pensioenfonds Rabobank
Colgate ING Pensionfondsvervoer BNP Paribas
BMG Delta PGGM ING
KLM SNS Rabobank
Friesland Foods
Essent
6 Deloitte Capital Markets Financial Advisory Services 7

Our experience in your industry Deloitte Research
We believe in serving our clients best by being Capital Markets Risk Management Deloitte’s international
Benefits for the client proactive in understanding what is needed in terms Deloitte’s Capital Markets Risk Management offering network of experts
• Deloitte is a one-stop- of expertise and industry knowledge. If client’s need aims to assist with feasible Risk Management solutions provides a unique global
shop to solve any requires this, expert teams are build from different enabling businesses to operate effectively in the knowledge base that
Capital Markets related disciplines within Deloitte such as Enterprise Risk Global Capital and Commodity Markets. With experts allows us to develop new
issue you might have. Services, Real Estate, Actuarial Services, M&A. These working together from Financial Advisory Services and services and products
expert teams combine the industry knowledge and Enterprise Risk Services we offer a total solution from to serve you as a client
• Deloitte has highly technical expertise to help with specific needs. Below design to implementation and maintenance of risk now and in the future.
qualified professionals are some examples of service offerings that have been management processes, models and systems. We make it our business
with experience in developed. to analyze current
every aspect of capital Integrated M&A affairs and future trends
markets. Real Estate Capital Markets Deloitte’s Integrated M&A Solution provides a broad to provide you with
Capital Markets play an ever increasing role in today's range of M&A services and delivers genuine value to insights into marketplace
real estate markets. Complex real estate transactions clients through full alignment of our work and developments.
need to be financed by equally complex capital markets professionals from various disciplines seamlessly
transactions. Furthermore real estate developers, operating as one service team. Services include - among
financiers and investors need to focus more and more others - M&A advisory (process support), valuation,
on risk/return of their real estate transactions rendering due diligence, debt advisory, structuring services,
sophisticated Capital Markets model necessary. Sales- and Purchase Agreement advice and Post Merger
Together with specialists from the real estate and debt Integration Services.
advisory teams, we help clients in the real estate sector
in building better risk- and valuation models, model Pension Services
governance (Basel II), debt (re)structuring, innovative Pension funds are confronted with the ever increasing
financing such as inflation linked products and Islamic complexity of financial markets, regulation and the
financing. need for sound risk management to ensure that
pensions stay affordable in the future while maintaining
sufficient buffers. Our actuarial services combined
with the knowledge of asset and liability management,
financial instruments, models and processes within
Capital Markets, can provide integrated solutions for
ALM issues and risk management within the investment
portfolios.
8 Deloitte Capital Markets Financial Advisory Services 9

A team you can count on Capital Markets Team
Netherlands
As Deloitte Capital Markets we make it our business to understand
other businesses and the opportunities and challenges faced when
dealing in capital markets. Our experienced team understands the Investment Management,
industry, is able to bring real insights into industry developments Hans van Leeuwen Pension Funds
and ‘best practice’ with advisers that perform to high standards Managing Partner, Capital Arjen Pasma
and operate the way the business is conducted. Deloitte offers Markets Investment Management Services
capital markets advisory services delivered by an experienced and Mob.: +31 6 2078 9674 Mob.: +31 6 1004 2748
committed team.
Energy & Commodity Risk
• Committed to deliver advisory services to the highest standards Management
• Experienced team of professionals coming from your industry Gerard van Baar Bas Bosma
• Extensive expertise on risk management, treasury management, Energy Commodity Risk Strategic Risk & Investment
investment management, valuations and accounting treatment Management Management
• Dedicated quantitative modelling group to support our service Mob.: +31 6 1509 2580 Mob.: +31 6 2025 2108
The Capital Market has become an Oscar Balhuizen
Energy & Commodity Risk
Treasury Management
Eddy Ouwendijk
integral part of almost any business. Management
Mob.: +31 6 1509 2455
Treasury Management & SEPA
Mob.: +31 6 1258 1755
Hans van Leeuwen, managing partner Deloitte Capital Markets Risk Management & Capital
Trading & Counterparty Risk Allocation
Elbert Rodenburg Diederik Fokkema
Trading, Brokerage & Risk Risk Management & Capital
Management Allocation
Mob.: +31 6 2025 2062 Mob.: +31 6 1258 1781
Model Development & Credit Model Development &
Validation Valuation Services Validation
Michiel Lodewijk Tjeerd Degenaar
Model Development & Validation, Credit Risk Model Development &
Valuation Services Validation
Mob.: +31 6 2078 9891 Mob.: +31 6 1234 5195
Accounting & Audit Services
Lawrence Man A Hing
Accounting & Audit Services
Mob.: +31 6 2078 9661
10 Deloitte Capital Markets Financial Advisory Services 11