Sênachê Consulting

For the ultimate benefit of society

Accuracy, Flexibility, Excellence

Since 2021, we leverage our expertise in Governance, Valuation, Risk Management and Compliance & AML/CFT to assist Investment Fund Managers at all levels (Directorship mandate, Conducting Officer mandate, RC mandate, Operational team support).

Since 2021, we leverage our expertise in Governance, Valuation, Risk Management and Compliance & AML/CFT to assist Investment Fund Managers at all levels (Directorship mandate, Conducting Officer mandate, RC mandate, Operational team support).

What we do

GVRC : Our four functions for serving asset Managers

We assist you facing current and futures challenges

 

Governance

We thrive for Value creation and avoid value destruction. Within the Collective knowledge of the Board, we oversee the authorised management and the framework by which Investments Funds and/or IFMs are directed and controlled.

What we offer

  • Independent Non-Executive Director mandates for regulated and non-regulated Investment Funds and Investment Fund Managers.
  •  

For an Investment Fund Board mandate:

  • Choose and appoint the ManCo/AIFM, the depositary, the auditor and establish the delegation scheme based on Fund strategy;
  • Review and approve investment risk profiles, policies and restrictions, regulatory and commercial documents (prospectus/offering documents, KIIDs/PRIIPS KID, RC reports, etc.);
  • Ensure compliance with Fund product law, regulatory requirements and Fund statutory documents;
  • Etc.

For an Investment Fund Manager Board mandate:

  • Establishment and follow-up of the Risk Appetite Statement and Framework;
  • Ensure proper corporate governance (Board composition, Board committees, Management Committee, etc) and follow-up of the regulatory reporting calendar;
  • Select/Retain key people and put in place robust control functions : Risk Management, Compliance & AML (incl. oversee of the Sustainability and Technological & Artifical Intelligence risks), Internal Audit;
  • Oversight of the IFM functions (Portfolio Management, Valuation, Administration, etc.) and Cross border activities;
  • Etc.

Valuation

For ensuring an independent valuation of assets, we draft/review valuations documents, challenge third party valuers, produce valuations and establish/review early detection mechanims for mitigating valuation errors.

What we offer

  • Valuation operational support;
  • Valuation Officer mandate;
  • Valuation Conducting Officer mandate.
  •  

  • Draft/Review of Valuation policies, Valuation procedures and Valuation methodologies.
  • Review of the Valuation approach under normal and stressed market conditions (based on IPEV and RICS guidelines) and considering each strategy (PE, RE, Funds of Funds, etc.).
  • Ensure independence of the Valuation function and its proper oversight of third party-valuers.
  • Review the early detection mechanisms for valuation errors and liaise with the Management Committee and the BoD regarding communications to Investors;
  • Prepare and present reports to the Management Committee Meetings and to the Board of Managers;
  • Challenge and produce valuations using different valuation models :
    • CAPM for Listed equities
    • Expected Credit Loss and Risk-Neutral Approaches for Fixed Income;
    • Discounted Cash Flow (DCF) and Multiples for Private Equity;
    • Income, Replacement Cost, and Market Approaches for Real Estate;
    • DCF, Multiples, Replacement cost and Yield Approach for Infrastructure;
    • Due Diligence on Target Funds and Review of Their Valuation Processes for Fund of Funds.
  • Etc.

Risk Management

For both liquid and illiquid strategies, we Identify, Measure, Manage, Monitor and Report the financial (market, credit, counterparty, liquidity) and non-financial (operational, cyber, AI and sustainability (incl. physical and transition)) risks.

What we offer

  • Risk Management operational support;
  • Risk Management function mandate;
  • Risk Conducting Officer mandate.

  • Review and monitoring of the Market risk (VaR/Commitment, Backtesting, Stress testing for liquid funds and monitoring of market risk specifics at fund and investment level for illiquid funds;
  • Review of Credit, Counterparty risk (incl. EMIR requirements), Leverage and Concentration risks;
  • Liquidity Risk Monitoring (incl. Liquidity stress testing) of asset side, liability side, and integration of both for liquid funds; and liquidity monitoring through the (i.) launch, (ii.) life and (iii.) wind-down phases of illiquid funds;
  • Operational Risk monitoring (people, process, systems and events) for the Funds and at the IFM level;
  • Valuation and Pricing Risk Monitoring;
  • Sustainability (incl. Physical and Transition) risks monitoring;
  • Technological and Artificial Intelligence Risks monitoring;
  • Senior Management, BoD and Regulatory reporting through Management Information Systems and regulatory tools;
  • Fund Risk profile design and review;
  • Drafting/ Review of Risk Management Policy and Procedures;
  • Etc.

Compliance & AML/CFT

For ensuring compliance to the regulatory requirements and to the statutory requirements of our clients, we anticipate, identify, assess and mitigate the compliance & AML/CFT risks (reputational, legal, dispute, sanctions, operational).

What we offer

  • Compliance operational support;
  • RC mandate;
  • Compliance Officer mandate;
  • Compliance Conducting Officer mandate.

  • Draft/Review policies and procedures (Risk Appetite Statement, Compliance Charter, Customer Acceptance Policy, Risk Based Approach, Due Diligence on assets/investors/other counterparties, etc.);
  • AML/CFT screening and monitoring for clients and transactions including:
    • Submission of Suspicious Activity Reports and Suspicious Transactions Reports to the Financial Intelligence Unit;
    • Information to the Ministry of Finance (and the CSSF/AED) in case of Targeted Financial Sanctions;
  • Handling and preparing answers to questions from the regulator (AED, CSSF, FIU, Ministry of Finance);
  • Compliance Monitoring Plan follow-up;
  • Separate AML and CFT risk assessment scorecards;
  • Staff training;
  • Production of  regular compliance reports (SRRC, RC reports, AED questionnaires, etc.) for the Senior Management, the Governing Body and the Regulator;
  • Oversight of delegates and service providers ensuring accuracy, completeness and timeliness;
  • Etc.

Considering the lack of talent and the ever-changing regulatory landscape, we leverage our expertise in Governance, Valuation, Risk Management and Compliance & AML/CFT to serve Investment Fund Managers.

 

What we do

 

GVRC : Our four functions for serving asset Managers

We assist you facing current and futures challenges

 

Governance

We thrive for Value creation and avoid value destruction risks. For the Collective effectiveness of the Board, we set the strategy and oversee the authorised management and the framework by which Investments Funds and/or IFMs are directed and controlled.

What we offer

  • Independent Non-Executive Director mandates for regulated and non-regulated Investment Funds and Investment Fund Managers.
  •  

For an Investment Fund Board mandate:

  • Choose and appoint the ManCo/AIFM, the depositary, the auditor and establish the delegation scheme based on Fund strategy;
  • Review and approve investment risk profiles, policies and restrictions, regulatory and commercial documents (prospectus/offering documents, KIIDs/PRIIPS KID, RC reports, etc.);
  • Ensure compliance with Fund product law, regulatory requirements and Fund statutory documents;
  • Etc.

For an Investment Fund Manager Board mandate:

  • Establishment and follow-up of the Risk Appetite Statement and Framework;
  • Ensure proper corporate governance (Board composition, Board committees, Management Committee, etc) and follow-up of the regulatory reporting calendar;
  • Select/Retain key people and put in place robust control functions : Risk Management, Compliance & AML (incl. oversee of the Sustainability and Technological & Artifical Intelligence risks), Internal Audit;
  • Oversight of the IFM functions (Portfolio Management, Valuation, Administration, etc.) and Cross border activities;
  • Etc.

Valuation

For ensuring an independent valuation of assets, we draft/review valuations documents, challenge third party valuers, produce valuations and establish/review early detection mechanims for mitigating valuation errors.

What we offer

  • Valuation operational support;
  • Valuation Officer mandate;
  • Valuation Conducting Officer mandate.
  •  

  • Draft/Review of Valuation policies, Valuation procedures and Valuation methodologies.
  • Review of the Valuation approach under normal and stressed market conditions (based on IPEV and RICS guidelines) and considering each strategy (PE, RE, Funds of Funds, etc.).
  • Ensure independence of the Valuation function and its proper oversight of third party-valuers.
  • Review the early detection mechanisms for valuation errors and liaise with the Management Committee and the BoD regarding communications to Investors;
  • Prepare and present reports to the Management Committee Meetings and to the Board of Managers;
  • Challenge and produce valuations using different valuation models :
    • CAPM for Listed equities
    • Expected Credit Loss and Risk-Neutral Approaches for Fixed Income;
    • Discounted Cash Flow (DCF) and Multiples for Private Equity;
    • Income, Replacement Cost, and Market Approaches for Real Estate;
    • DCF, Multiples, Replacement cost and Yield Approach for Infrastructure;
    • Due Diligence on Target Funds and Review of Their Valuation Processes for Fund of Funds.
  • Etc.

Risk Management

For both liquid and illiquid strategies, we Identify, Measure, Manage, Monitor and Report the financial (market, credit, counterparty, liquidity) and non-financial (operational, cyber, AI and sustainability (incl. physical and transition)) risks.

What we offer

  • Risk Management operational support;
  • Risk Management function mandate;
  • Risk Conducting Officer mandate.

  • Review and monitoring of the Market risk (VaR/Commitment, Backtesting, Stress testing for liquid funds and monitoring of market risk specifics at fund and investment level for illiquid funds;
  • Review of Credit, Counterparty risk (incl. EMIR requirements), Leverage and Concentration risks;
  • Liquidity Risk Monitoring (incl. Liquidity stress testing) of asset side, liability side, and integration of both for liquid funds; and liquidity monitoring through the (i.) launch, (ii.) life and (iii.) wind-down phases of illiquid funds;
  • Operational Risk monitoring (people, process, systems and events) for the Funds and at the IFM level;
  • Valuation and Pricing Risk Monitoring;
  • Sustainability (incl. Physical and Transition) risks monitoring;
  • Technological and Artificial Intelligence Risks monitoring;
  • Senior Management, BoD and Regulatory reporting through Management Information Systems and regulatory tools;
  • Fund Risk profile design and review;
  • Drafting/ Review of Risk Management Policy and Procedures;
  • Etc.

Compliance & AML/CFT

For ensuring compliance to the regulatory requirements and to the statutory requirements of our clients, we anticipate, identify, assess and mitigate the compliance & AML/CFT risks (reputational, legal, dispute, sanctions, operational).

What we offer

  • Compliance operational support;
  • RC mandate;
  • Compliance Officer mandate;
  • Compliance Conducting Officer mandate.

  • Draft/Review policies and procedures (Risk Appetite Statement, Compliance Charter, Customer Acceptance Policy, Risk Based Approach, Due Diligence on assets/investors/other counterparties, etc.);
  • AML/CFT screening and monitoring for clients and transactions including:
    • Submission of Suspicious Activity Reports and Suspicious Transactions Reports to the Financial Intelligence Unit;
    • Information to the Ministry of Finance (and the CSSF/AED) in case of Targeted Financial Sanctions;
  • Handling and preparing answers to questions from the regulator (AED, CSSF, FIU, Ministry of Finance);
  • Compliance Monitoring Plan follow-up;
  • Separate AML and CFT risk assessment scorecards;
  • Staff training;
  • Production of  regular compliance reports (SRRC, RC reports, AED questionnaires, etc.) for the Senior Management, the Governing Body and the Regulator;
  • Oversight of delegates and service providers ensuring accuracy, completeness and timeliness;
  • Etc.

Considering the lack of talent and the ever-changing regulatory landscape, we leverage our expertise in Governance, Valuation, Risk Management and Compliance & AML/CFT to serve Investment Fund Managers.

 

Our clients

 

By contributing to their robustness and performance, we benefit our clients and, ultimately, society.

This is a non-exhaustive list of clients.

Our clients

 

By contributing to their robustness and performance, we benefit our clients and, ultimately, society.

This is a non-exhaustive list of clients.

Our contribution

 

Through membership in key associations, we stay connected to industry experts and help raise financial standards.

Our contribution

 

Through membership in key associations, we stay connected to industry experts and help raise financial standards.

To collaborate is also to contribute.

fondatioun
Université du Luxembourg
handicap international
Care
deierenasyl

In Luxembourg, 1% of the total invoiced amount for a collaboration between us will be granted to a Luxembourgish association of your choice among the 5 aforementioned associations we are supporting. This will allow us to contribute together to our society while we are assisting you at the same time

To collaborate is also to contribute.

fondatioun
Université du Luxembourg
handicap international
Care
deierenasyl

In Luxembourg, 1% of the total invoiced amount for a collaboration between us will be granted to a Luxembourgish association of your choice among the 5 aforementioned associations we are supporting. This will allow us to contribute together to our society while we are assisting you at the same time

Our founder

 

Daniel Cakpo-Tozo, FRM, GFR, RC

INSEAD IDP-C | ILA Certified Director | Fund Governance Expert

Daniel is an Independent Director and Trusted Advisor with 11+ years of experience in the Luxembourg Fund Industry. He has a deep command of the regulatory landscape and demonstrates key expertise in Valuation, Risk Management and Compliance & AML/CFT for both liquid and illiquid strategies.

In 2021, he has founded Sênachê Consulting that takes Directorship, Conducting Officer and/or RC mandates and delivers operational team support assignments for assisting IFMs (AIFM, UCITS, Super ManCo, ManCo+) and the UCITS and Alternative Investment Funds (SCSp/SCS, RAIF, SIF, SICAR, Part II UCI, EuVECA, EuSEF, ELTIF) they manage.

Before launching Sênachê Consulting, Daniel worked, inter alia, as Manager at KPMG Luxembourg where he delivered Interim Conducting Officers assignments and a range of Asset Management regulatory consulting assignments (AIFM licence extension, oversight framework set-ups, etc.).

Prior to that, Daniel was a Senior Consultant at PwC Luxembourg where he drafted and reviewed Risk Management Processes & Policies for both UCITS and AIFMs, delivered independent review of VaR models assignments for UCITS, ensure AIFMD reporting for a wide range of authorised AIFMs and give trainings on Market Abuse Directive and Market Abuse Regulation (MAD, MAR & CSMAD).

Daniel is INSEAD IDP-C, ILA Certified Director and Fund Governance Expert. He is CAIA level II candidate and has obtained different certifications in (i.) Risk Management (FRM, GFR) and in (ii.) Compliance & AML/CFT (RC, M1 & M2, AML). He holds both a Master in Risk Management  from HEC Liège and a Research Master in Economics from Economics School of Louvain.

Our founder

 

Daniel Cakpo-Tozo, FRM, GFR, RC

INSEAD IDP-C | ILA Certified Director | Fund Governance Expert

Daniel is an Independent Director and Trusted Advisor with 11+ years of experience in the Luxembourg Fund Industry. He has a deep command of the regulatory landscape and demonstrates key expertise in Valuation, Risk Management and Compliance & AML/CFT for both liquid and illiquid strategies.

In 2021, he has founded Sênachê Consulting that takes Directorship, Conducting Officer and/or RC mandates and delivers operational team support assignments for assisting IFMs (AIFM, UCITS, Super ManCo, ManCo+) and the UCITS and Alternative Investment Funds (SCSp/SCS, RAIF, SIF, SICAR, Part II UCI, EuVECA, EuSEF, ELTIF) they manage.

Before launching Sênachê Consulting, Daniel worked, inter alia, as Manager at KPMG Luxembourg where he delivered Interim Conducting Officers assignments and a range of Asset Management regulatory consulting assignments (AIFM licence extension, oversight framework set-ups, etc.).

Prior to that, Daniel was a Senior Consultant at PwC Luxembourg where he drafted and reviewed Risk Management Processes & Policies for both UCITS and AIFMs, delivered independent review of VaR models assignments for UCITS, ensure AIFMD reporting for a wide range of authorised AIFMs and give trainings on Market Abuse Directive and Market Abuse Regulation (MAD, MAR & CSMAD).

Daniel is INSEAD IDP-C, ILA Certified Director and Fund Governance Expert. He is CAIA level II candidate and has obtained different certifications in (i.) Risk Management (FRM, GFR) and in (ii.) Compliance & AML/CFT (RC, M1 & M2, AML). He holds both a Master in Risk Management  from HEC Liège and a Research Master in Economics from Economics School of Louvain.

Contact

 

Luxembourg

2, Place de Strasbourg
L-2562 Luxembourg

Tél : +352 691 361 195

Contact

 

Luxembourg

2, Place de Strasbourg
L-2562 Luxembourg

Tél : +352 691 361 195