ALM Partners is an interesting company that was the Asset/Liability Management department that was spun off as company by a small savings bank in Helsinki.
In 2010, the bank sold off most of its ownership to the senior managers who worked in the department, and from there the company has grown phenomenally well. Many larger banks has started to use them as advisors as regulations and reporting have increased so much. Banks and finance-related companies have discovered that it is cheaper to work with outside specialist advisors and consultants rather than employing their own teams – staff is hard to find and all of them are facing the same regulations and reporting standards.
ALM has developed lean and cost efficient systems and process to implement the current and ever-changing regulations and rules for both internal and external reporting – it has become almost a new turnkey business for clients.
ALM have shown that advising on risk management and reporting can be a good business – a turnkey business, which is quite surprising given that big banks have generally avoided working with smaller start-up in the past.
The company employs many young people who they they have selected directly from university. They then put them through intensive training with their own training module. This approach is also radically different from the normal banking model.
ALM have partnered up with leading several big risk management and reporting companies that provide IT systems for large banks in the Finnish and international markets. They assist their clients in finding the most appropriate resources and assist with implementation for moves too new systems that must include all financial statements and reports.
ALM then assists in the production of the necessary documents and reports from these systems with their clients for such purposes as, for example, IFRS9 and hedge accounting, and other risk management and reporting.
It is impressive that with just a staff of 55 professionals, in a small Finish market, they have been able to achieve profitable results each year and see significant growth each year.