Our Approach

1RS is resourced solely by risk, change and technology professionals with extensive front line experience of working in the businesses of our specialist sectors. We understand first hand the processes and services you provide, the challenges you need to overcomeand the need for efficient and effective risk management processes and technology which can be easily implemented within the business or function. We tailor the relevant attributes from best practice large scale frameworks to meet the needs, complexity, size and regulatory scope of your organisation. At 1RS, we provide advanced solutions built on the latest technology that are agile, cost effective, and aim to simplify and improve risk and compliance management for our clients.

Our Story

1RS was started in 2016 to provide innovative Risk & Compliance software and services to the UK Financial Services Industry. We are headquartered in London, and have grown our risk and compliance team to include our expert development and support centre based in Chennai. We provide technology solutions and consultancy services to clients in Europe, Middle East and Asia. We impart subject matter expertise and software solutions to design, build and implement regulatory change compliance, enterprise and operational risk strategy and frameworks, risk management systems and the 3 Lines of Defence. We also provide risk and compliance resources  to support your implementations or BAU processes, outsource your risk and compliance activity, and provide ongoing advice and support by our dedicated team.

 

1RS Management Team

Tim Bailey

CEO 1RS Group

Before founding 1RS, Tim spent over 20 years in the banking sector in Front and Middle office, Operations, Technology, Finance and Risk at some of the world’s largest, most complex and innovative financial organisations. He has gained extensive experience in all sectors and functions of financial services from senior roles at JPMorgan, UBS, HSBC, Standard Bank and Bank of America, with over a decade spent designing technical solutions, and running and reengineering risk functions in the 1st and 2nd line at business aligned, function and group level. Tim has deep knowledge and experience of designing and implementing all aspects of internal control and operational risk frameworks and technology solutions, and managing complex change initiatives required to satisfy regulatory and business requirements. Tim also has successfully overseen significant regulatory remediation programmes, and regulatory inspections within operational risk. Earlier in his career he qualified as a chartered accountant and worked in audit at PWC.

 

 Stewart Foster

CEO 1RS Software

Before joining 1RS, Stewart spent over 20 years at the forefront of the UK’s FinTech industry. During 10 years spent at software house, Financial Objects Plc, he gained extensive experience as a tech entrepreneur driving strategy, sales and technology development and was made member of the main board in 2005, successfully turning around both the Wealth Management and the Retail Banking divisions into profitable growing businesses. In June 2007 Stewart left Financial Objects to set up Third Financial Software (TFS) who are now a major supplier to the UK Investment Management market with its multi award winning Tercero Wealth system. Stewart was also responsible for setting up TFS’s FCA regulated technology & operations outsourcing service which grew from zero to over £1bn of Assets under Administration in 2017, its first full year of operation. Stewart joined 1RS at the start of 2019. Stewart has a property degree and MBA and spent his early career at JP Morgan on their FX trading floor.

Bea Stafford

Head of Risk and Compliance

Before founding 1RS, Bea gained vast experience across all 3 Lines of Defence gained at some of the world’s largest global banks and financial institutions (HSBC, JP Morgan and American Express). Bea has been at the forefront of global change, technology and risk programmes, driving the design and implementation of the associated technological solutions and frameworks for:

  • Global regulatory programmes such as SOX, SAO, FATCA
  • Global Financial Crime risk remediation
  • Operational Risk frameworks within global functions (technologies, finance, HR)
  • Global M&A and divestment programmes, managing buyer risk, separation risk and transitional service risk

Bea started her career on the LIFFE floor, before spending many years at American Express working globally within various areas across all 3 lines- Group Treasury, Group Internal Audit and within Group Operational Risk, obtaining in depth knowledge of credit services, Insurance products, and Private Banking.

Nirmala Varadarajan

CEO 1RS India

Nirmala started off her career as a Finance Analyst with an automobile manufacturing company and subsequently moved to Risk and Compliance. She spent over 15 years in gaining experience on SOX Compliance, Operational Risk Management across all 3 Lines of Defence and Finance Operations at some of the world’s largest global banks and MNCs across industries (HSBC, Standard Chartered, Hewlett Packard, Carphone Warehouse – BestBuy).

Nirmala is a Chartered Accountant and a Certified Internal Auditor. She has handled large scale programmes and projects in risk, cost management, Operations, organisation scale-up across multiple geographies right from design through implementation.

Fed Viloria

Implementation and Account Management

A service focused risk advocate with over 15 years’ experience in operational risk and credit risk management. Fed is a collaborative problem solver with a passion for excellence and continuous improvement, valuing integrity and accountability.

Competencies:

  • Operational/Enterprise risk (Retail Banking, Financial Planning and Advice)
  • Credit risk (Retail Banking)
  • Project management
  • Change risk management (Risk in Change)
  • Strategic planning and delivery
  • Supplier / vendor / outsourcing risk
  • Regulatory compliance (Credit, Financial Planning and Advice

Sathish Kumar

Senior Technical Product Manager

Sathish has over 15 of experience in developing software and products primarily in Banking and Financial Sector. Apart from performing various roles such as developer and business analyst, he is an accomplished project manager who has implemented projects for Banking Majors (JP Morgan Chase, AMEX and ABN AMRO) from onshore as well as offshore locations. Sathish is a Subject Matter Expert in Credit Card & Credit Risk domains.

He co-founded(&exited) Effitrac Solutions to empower SME’s through innovative solutions and laid a strong foundation for the company which is now causing ripples in the ERP industry.  

Sathish is proficient in Mainframe and Java technology stacks