Our U.S. Financial Services (FS) Practice consists of approximately 2,300 assurance professionals, including 223 partners and 650 managers. It spans industry sectors and functional skill areas, including insurance, investment management, capital markets, banking and real estate. We serve many of the world's largest financial institutions. This means that we have insight into the challenges facing the industry. PwC is the leader is serving large, complex financial services institutions. In the U.S., we audit:
- 18 of the top 50 life insurers, representing 39 percent of admitted assets.
- 19 of the top 50 property and casualty insurers, representing 44 percent of net premiums written.
- 11 of the top 25 reinsurers, representing 47 percent of net premiums written.
- Over 2,900 mutual funds, representing 40% of all mutual funds and 58% of total industry net assets; this includes funds at nine and the advisor and funds at six of the top ten funds families.
- Two of the top three, three of the top 15, and five of the top 20 US-based commercial banks.
- Five of the top 20 mortgage servicers, and four of the top 20 mortgage originators.
- Nine of the top 50 broker-dealers.
We are also the thought leader in the financial services industry. We produce almost 150 publications and e-briefings on the financial services industry, most of which are sector specific, as well as a wide range of training and special events on issues that affect reporting and corporate governance throughout the business world.
The Consumer Finance Group (www.pwc.com/consumerfinance) is composed of over 100 professionals across the country dedicated to solving complex business problems for clients in the consumer finance sector. Our focus is on mortgage banking and other forms of consumer credit, which means we are at the forefront of the industry working with our clients to anticipate, understand and resolve emerging issues. Our groupâ€™s collective knowledge is invaluable at a time when profits are under pressure, monitoring of risks is more difficult and gaining an edge over the competition is more challenging than ever. In response to these and other challenges, we can assist our clients in the following ways:
-Risk-based process diagnostics and benchmarking (e.g. default, collections, REO)
-Due diligence and post-merger integration assistance
-TDR accounting and loan modification process analysis and support
-Development of loan accounting, finance effectiveness and economics solutions
-Servicing profitability and cash management strategies
-Loan price optimization strategies
-Customer and household segmentation strategies
-Assisting with strategies surrounding increasing customer retention, improving cross-sell opportunities and understanding customer values
-Technical accounting assistance
-Providing change management strategies for effective downsizing
Our clients consistently turn to us for help resolving complex business issues in areas such as: Loan production, servicing, capital markets, risk management, finance and accounting. Our detailed subject matter knowledge and regular communication with industry leaders allow us to remain focused on enhancing the core competencies of our clients.